Agnico-Eagle Mines Completes US$290M Private Placement

On December 3, 2008, Agnico-Eagle Mines Limited completed a $290 million underwritten private placement of 9.2 million units, each unit consisting of one common share of Agnico-Eagle and one-half of one common share purchase warrant. The lead underwriters for the private placement were Macquarie Capital Markets Canada Ltd., and the other members of the underwriting syndicate were Scotia Capital Inc., UBS Securities Canada Inc., TD Securities Inc., National Bank Financial Inc., RBC Dominion Securities Inc., BMO Capital Markets, Merrill Lynch Canada Inc., CIBC World Markets Inc., Canaccord Capital Corporation, Genuity Capital Markets, Blackmont Capital Inc. and Credit Suisse Securities (Canada) Inc.

As part of the private placement, an affiliate of the CPP Investment Board (the lead purchaser) purchased three million units and agreed to purchase any additional units not purchased by other buyers. As consideration for the lead purchaser's commitment, Agnico-Eagle issued to the lead purchaser warrants entitling it to purchase four million common shares.

Agnico-Eagle was represented by R. Gregory Laing, general counsel, senior vice-president, legal and corporate secretary, and by Davies Ward Phillips & Vineberg LLP with a team that included Patricia Olasker, Patrick Moyer and Chris Vollmershausen in Toronto and Gerald Shepherd and Scott Tayne in New York. Borden Ladner Gervais LLP acted as Canadian counsel to the underwriters with a team that included Philippe Tardif, Dyana McLellan and Vanessa McMinn. Shearman & Sterling LLP in Toronto acted as US counsel to the underwriters with a team that included Jason Lehner and Jonathan Handyside. Mark DesLauriers and Andrew Powers of Osler, Hoskin & Harcourt LLP acted for the lead purchaser.


Vanessa McMinn Jason Lehner Chris Vollmershausen Philippe Tardif R. Gregory Laing Dyana E. McLellan Andrew Powers Patricia L. Olasker J. Mark DesLauriers Patrick E. Moyer Scott Tayne Gerald D. Shepherd


Davies Ward Phillips & Vineberg LLP Borden Ladner Gervais LLP (BLG) Shearman & Sterling LLP Osler, Hoskin & Harcourt LLP