TORONTO, Oct. 25 /PRNewswire/ - Agnico-Eagle Mines Limited ("Agnico- Eagle") announced today that after completing due diligence on its proposed investment in Aurizon Mines Ltd. ("Aurizon") Agnico-Eagle and Aurizon were unable to reach a final agreement on terms that were acceptable to both parties. As a result, the private placement agreement between Agnico-Eagle and Aurizon has been terminated, and Agnico-Eagle will not acquire beneficial ownership of, or power to exercise control or direction over, or securities convertible into, any voting or equity securities of Aurizon.

Agnico-Eagle Mines Limited is an established Canadian gold producer with operations located principally in Northwestern Quebec and exploration and development activities in Quebec, Ontario and Nevada. Agnico-Eagle's operating history includes 25 years of continuous gold production primarily from underground mining operations. Current proven and probable reserves stand at 3.0 million contained ounces, with an additional 3.1 million ounces in the mineral resource category at its LaRonde Mine. Agnico-Eagle is currently focused on a development and expansion program at its LaRonde Division that is expected to result in increased gold production and expanded gold reserves. SOURCE Agnico-Eagle Mines Limited

CONTACT: Sean Boyd, President and CEO, Agnico-Eagle