Agnico Eagle Provides Update ON Nunavut Operations
AGNICO EAGLE PROVIDES UPDATE ON NUNAVUT OPERATIONS
Toronto (March 19, 2020) – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) ("Agnico
Eagle" or "the Company") is providing an update on its Nunavut operations following yesterday’s
declaration of a state of public health emergency relating to COVID -19 by the Government of
Nunavut.
At the present time there are no confirmed cases of COVID-19 in Nunavut or at any of Agnico
Eagle’s global operations. The Company is working to ensure the continued health of local
residents in the communities in which it operates.
Senior management from Agnico Eagle are meeting today with representatives from Rankin Inlet,
Baker Lake, the Kivalliq Inuit Association, the Government of Nunavut and others to review the
Company’s Pandemic Plan. The Company is basing its guidelines on and is following the advice
of the Public Health Agency of Canada and the different provincial and territorial governments
with respect to the COVID-19 virus.
As part of an effort to protect the people of Nunavut, Agnico Eagle has decided to send home its
Nunavut based work force ("Nunavummiut") from the Meliadine and Meadowbank operations as
well as the exploration projects for a period of four weeks. All Nunavummiut workers currently on
site will be returned home and those that are currently off-site will not return. These employees
will continue to receive their remuneration during this period. In addition, Agnico Eagle will be
meeting with its Nunavut contractors to discuss similar measures involving their Nunavummiut
workers.
"We value our relationship with the people of Nunavut and are committed to do what is best for
the health, safety and well -being of all our employees and the communities ", said Sean Boyd,
Agnico Eagle's Chief Executive Officer. "This precautionary measure is being implemented in
order to eliminate the potential risk of transmission of COVID -19 from a southern worker to a
Nunavut worker, with the risk of it moving into the communities."
Agnico Eagle plans to continue operations at both Meliadine and Meadowbank with the remaining
workforce. This is a rapidly evolving situation and the Company will reassess the situation on an
ongoing basis.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since
1957. Its operating mines are located in Canada, Finland and Mexico, with exploration and
development activities in each of these countries as well as in the United States and Sweden.
Agnico Eagle and its shareholders have full exposure to gold prices due to its long-standing policy
of no forward gold sales. Agnico Eagle has declared a cash dividend every year since 1983.
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Forward-Looking Statements
The information in this news release has been prepared as at March 19, 2020. Certain statements
in this news release, referred to herein as "forward- looking statements", constitute "forward-
looking statements" within the meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward- looking information" under the provisions of Canadian provincial
securities laws. These statements can be identified by the use of words such as "may", "will" or
similar terms. Such sta tements include, without limitation: the Company's plans to continue
operations at both Meliadine and Meadowbank.
Forward-looking statements are necessarily based upon a number of factors and assumptions
that, while considered reasonable by Agnico Eagle as of the date of such statements, are
inherently subject to significant business, economic and competitive uncertainties and
contingencies. Many factors, known and unknown, could cause actual results to be materially
different from those expressed or impli ed by such forward- looking statements. Readers are
cautioned not to place undue reliance on these forward-looking statements, which speak only as
of the date made. Other than as required by law, Agnico Eagle does not intend, and does not
assume any obligation, to update these forward-looking statements.