History

Agnico-Eagle was formed in 1972 through the merger of Agnico Mines Limited, a prominent silver producer in Cobalt, Ontario, and Eagle Gold Mines Limited, a successful gold exploration company.

Here are some of the key events in the company's history:

1953 - Five struggling silver mining companies join together to become Cobalt Consolidated Mining Company. Silver production had been devastated by the 1929 crash of the stock market and silver prices. Compounding problems, the silver veins of Cobalt consistently dried up 300 feet below the surface so that by 1937 all original mines had ceased production. The new company brought together Cobalt camp's finest original producers. Between 1953 and 1989, when it closed, the subsequently named Cobalt Silver Division produced approximately 30 million ounces of silver.

1957 - Cobalt Consolidated Mining Company reorganizes and changes its name to Agnico Mines, which stands for silver (metallic symbol Ag), nickel (Ni) and cobalt (Co).

1963 - Paul Penna becomes president of Agnico. Under Mr. Penna's visionary leadership, Agnico prospers. Among the achievements in the years that follow, the company finds a second layer of silver veins more than 1,500 feet from surface, and constructs a reclamation plant to extract silver from the tailings mine operators had dumped into Lake Cobalt many years earlier.

1966 - Eagle Gold Mines Ltd. sets its sights on gold, specifically on 98 claims in Joutel, in northwestern Quebec, after having gone through a succession of different names and exploratory targets. Construction of a mining complex and access road begins.

1972 - Gold prices fall abruptly and the Eagle Gold Mine project costs skyrocket. The project is put on hold until Agnico Mines comes to Eagle's financial rescue. On May 26, 1972, the companies merge to become Agnico-Eagle Mines Limited and the mining complex is completed shortly thereafter.

1974 - The first brick of gold at Joutel is poured. Joutel would operate until closure in 1993 producing approximately 1.1 million ounces of gold from the Eagle Gold Mine, Telbel and Eagle West mines.

1992 - Agnico-Eagle acquires the property and assets of Dumagami Mines Limited, including the LaRonde mine in northwestern Quebec, which had begun commercial production in 1988.

1993 - Agnico-Eagle acquires the remaining 46.3% interest in Goldex Mines Limited that it does not already own. Goldex's major asset is a 100% interest in the Goldex Extension Property, which at the time contains the largest unexploited gold deposit in Quebec.

1999 - Two subsidiaries of the company, Sudbury Contact Mines and Silver Century Explorations, amalgamate to form Contact Diamond, a junior exploration and development company with diamond properties in Ontario, Quebec, Nunavut and the Northwest Territories. Agnico-Eagle retained an approximate 44% interest in Contact Diamond.

2000 - Agnico-Eagle acquires the high-grade Lapa gold deposit, which is located near LaRonde in northwestern Quebec.

2004 - The company acquires a 14% ownership interest in Riddarhyttan Resources AB, a precious and base metals exploration and development company that is the 100% owner of the Suurikuusikko gold deposit in Finland. Agnico-Eagle also purchases all of Contact Diamond's gold exploration properties, including a Nevada-based subsidiary.

2005 - Construction begins at the Goldex mine. To help verify the gold reserve, shaft sinking begins at Lapa. In keeping with Agnico-Eagle's international expansion goals, the company signs an option agreement to purchase the Pinos Altos property in Mexico, and makes a successful bid for the remaining shares of Riddarhyttan.

2006 - Agnico-Eagle completes acquisition of Pinos Altos project in Mexico. The company begins construction of the Lapa, Goldex and Kittila mines. The company also begins construction of the LaRonde extension mine which is expected to begin producing in 2012.

2007 - Agnico-Eagle acquires Cumberland Resources and gains 100% control of the Meadowbank gold project in Nunavut, Canada. Construction of the Meadowbank mine is underway and gold production is expected to begin in early 2010.