Toronto - March 17, 1997 -- Agnico-Eagle Mines Limited today announced that it has filed a preliminary prospectus in the
United States and Canada under the Multijurisdictional Disclosure System relating to a proposed
public offering of 7,500,000 common shares. The offering is being led by Merrill Lynch & Co.,
and co-managed by Salomon Brothers Inc and EVEREN Securities, Inc. The Corporation has
granted the underwriters an option to purchase up to 1,125,000 additional common shares to
cover over allotments, if any. Net proceeds of the offering will be used to fund capital expenditure
costs relating to the expansion of the LaRonde Division and other development and exploration
projects, and for general corporate purposes, including possible acquisitions. The offering is
expected to close in April 1997.
Agnico-Eagle Mines Limited is an established Canadian gold producer with operations located
principally in northwestern Quebec and exploration and development activities in Quebec and
Ontario. The Company's operating history includes 22 years of continuous gold production
primarily from underground mining operations. Agnico-Eagle is currently working on several
underground projects which are expected to result in increased gold production and expanded
gold reserves.
A copy of the preliminary prospectus may be obtained in the United States from Merrill Lynch &
Co. and, in Canada, from Merrill Lynch Canada Inc.
A registration statement relating to these securities has been filed with the Securities and
Exchange Commission but has not yet become effective. These securities may not be sold nor
may offers to buy be accepted prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of these securities in any State in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such State.
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