AGNICO EAGLE ANNOUNCES INVESTMENT IN CADILLAC MINES CORPORATION

Agnico Eagle Mines Limited (AEM) has entered a subscription agreement to acquire 8,696,000 common shares of Cadillac Mines Corporation through a private placement. The total consideration for the transaction is C$60,002,400, calculated at C$6.90 per share.

Prior to the transaction, Agnico held approximately 9.70% ownership in Cadillac Mines. Following the acquisition, its ownership is expected to rise to approximately 11.09% on a non-diluted basis. Agnico is exercising rights under a prior subscription agreement from July 2023 to maintain its pro-rata ownership interest.

The transaction is conditional on the closing of Cadillac’s initial public offering (IPO) and is expected to close around August 5, 2026. As part of the agreement, Agnico will enter an 180-day lock-up agreement with the IPO underwriters. An early warning report will be filed in accordance with Canadian securities laws.

Agnico Eagle Mines Limited (AEM) has made a C$60 million strategic equity purchase in the Cadillac Mines project, a sum representing less than 0.1% of the company’s market capitalization and under 2% of its cash balance. The transaction serves as a routine maintenance of a pro-rata stake under a 2023 agreement, consistent with Agnico’s documented strategy of acquiring minority positions in high-potential exploration assets. The move does not alter production profiles, cost structures, or balance sheet leverage, and no material financial or operational impact is expected.

Agnico Eagle Mines Limited (AEM) is a senior-tier gold producer with a diversified portfolio of long-life, low-cost assets across Canada, Mexico, Finland, and Australia. Its flagship operations include Canadian Malartic, which is Canada’s largest gold mine, as well as Detour Lake, Fosterville, LaRonde, Macassa, Meliadine, Meadowbank, and Kittila.

The company is actively advancing a pipeline of underground and expansion projects, including Odyssey (East Gouldie), Detour Lake underground, Upper Beaver, Hope Bay, and San Nicolás, which is a 50% joint venture with Teck. Agnico Eagle maintains a strategic focus on jurisdictional safety, cost discipline, and organic growth through exploration and project development.