AGNICO EAGLE PROVIDES AN UPDATE ON 2025 EXPLORATION RESULTS AND 2026 EXPLORATION PLANS - YEAR OVER YEAR MINERAL RESERVES INCREASE 2% TO 55.4 MOZ; INDICATED MINERAL RESOURCES INCREASE 10% TO 47.1 MOZ AND INFERRED MINERAL RESOURCES INCREASE 15% TO 41.8 MOZ

Executive Summary

• Year-end 2025 gold mineral reserves increased 2.1% to a record 55.4 Moz, driven by reserve replacement at operating mines and the initial declaration of probable reserves at the Marban deposit.
• Measured and indicated mineral resources rose 9.6% to 47.1 Moz, while inferred resources grew 15.5% to 41.8 Moz, primarily fueled by drilling success at Detour Lake, Odyssey (East Gouldie), and Hope Bay (Patch 7).
• 2026 exploration and project guidance is set at $565M–$635M (midpoint $600M), with priorities focused on extending mine life at existing operations, advancing the Detour Lake underground project, and completing the Hope Bay technical evaluation for a potential construction decision in May 2026.

Key Details

• Overall Mineral Reserves & Resources: Proven & probable reserves reached 55.4 Moz Au (1,330 Mt @ 1.30 g/t). Measured & indicated resources increased to 47.1 Moz Au (1,200 Mt @ 1.22 g/t). Inferred resources grew to 41.8 Moz Au (522 Mt @ 2.49 g/t).
• Marban Deposit (Canadian Malartic): Initial probable mineral reserves declared at 1.58 Moz Au (51.6 Mt @ 0.95 g/t) following a Q4 2025 technical evaluation, supporting the "fill-the-mill" strategy.
• Detour Lake: Underground indicated resources increased to 3.47 Moz Au (52.9 Mt @ 2.04 g/t) and inferred resources to 3.88 Moz Au (59.6 Mt @ 2.03 g/t). A high-grade corridor (≥1.20 g/t cutoff) contains 5.5 Moz indicated and 5.8 Moz inferred. Exploration ramp development reached 569m length and 90m depth.
• Odyssey / East Gouldie: Inferred resources at East Gouldie surged 62% to 7.4 Moz Au (94.3 Mt @ 2.43 g/t), including the newly declared Eclipse zone (0.6 Moz inferred @ 2.74 g/t). Total Odyssey mine hosts 6.03 Moz proven/probable reserves, 3.4 Moz indicated resources, and 12.7 Moz inferred resources.
• Hope Bay (Madrid / Patch 7): Patch 7 zone hosts 1.0 Moz indicated (4.5 Mt @ 6.77 g/t) and 1.7 Moz inferred (8.0 Mt @ 6.57 g/t). Total inferred resources at Hope Bay increased 40% to 3.2 Moz. Naartok East exploration ramp advanced 656m to 100m depth.
• LaRonde & LZ5: Combined reserves stand at 2.8 Moz Au. Conversion drilling and model improvements added 110k oz (LZ5) and 296k oz (LaRonde) to reserves. Indicated resources increased 48% to 2.3 Moz Au.
• Macassa: Maintains highest-grade reserves at 2.2 Moz Au (8.8 Mt @ 8.84 g/t). Achieved 101% replacement of mining depletion in 2025. Underground drilling totaled 210,679m.
• Upper Beaver: Reserves total 2.8 Moz Au and 54,930 tonnes Cu. Exploration ramp reached 70m depth and shaft sinking began (155m). High-intensity surface drilling is ongoing to validate the deep resource model.
• Meliadine: Reserves increased 8% to 3.6 Moz Au following conversion drilling that added 496k oz. Drilling totaled 105,144m, focusing on depth extensions at Wesmeg, Wesmeg North, Pump, and Tiriganiaq.
• Meadowbank / Amaruq: Reserves stand at 1.5 Moz Au. Added 389k oz to reserves, partially offsetting 544k oz of production depletion.
• Fosterville: Reserves at 1.7 Moz Au, replacing 101% of mining depletion. Open-pit mineral resources were removed from the report as open-pit mining is no longer planned.
• Kittila: Reserves at 3.3 Moz Au. Added 181k oz to reserves via conversion drilling in Suuri, Roura Deep, and Rimpi areas. Indicated resources increased 8% to 2.0 Moz Au.
• 2026 Exploration Guidance: Total budget set at $565M–$635M (midpoint $600M). Breakdown includes ~$384M for capitalized/expensed exploration and ~$216M for advanced project expenses, studies, and corporate development.
• Economic Assumptions: Mineral reserves calculated using $1,600/oz Au (with site-specific exceptions like $1,500 for Detour Lake open pit, $2,000 for Amaruq). Mineral resources calculated using $2,000/oz Au (with site-specific exceptions). Exchange rates: C$1.34/US$, MXN18.00/US$, A$1.52/US$, EUR0.91/US$.
• Selected Drill Intercepts:
• Odyssey UGED-071-029: 3.5 g/t Au over 19.8m
• Odyssey UGED-075-057: 4.9 g/t Au over 11.9m
• Odyssey UGED-095-004: 6.8 g/t Au over 9.3m
• Detour Lake DLM25-1242: 2.1 g/t Au over 92.4m (incl. 9.8 g/t over 10.7m)
• Detour Lake DLM25-1245: 10.7 g/t Au over 10.1m (incl. 37.8 g/t over 2.6m)
• Hope Bay HBM25-387A: 46.1 g/t Au over 2.3m

Notable Quotes

• "I would like to congratulate our exploration team for their performance in 2025 in terms of safety, productivity and cost control with an average of 120 diamond drill rigs in operation drilling 1.4 million metres of core. The exploration program continued to yield exciting results at our mines and key pipeline projects, which drove an increase in our mineral reserves and in our measured, indicated and inferred mineral resources primarily from additions at Detour Lake, Odyssey and Hope Bay," said Guy Gosselin, Executive Vice-President, Exploration.
• "The success of our 2025 exploration program reinforces our view that we have built the strongest project pipeline in the Company's history, with exceptional exploration upside--arguably the best in the gold mining sector," added Mr. Gosselin.