Meadowbank     > Probable gold reserves of 3.5 million ounces > Estimated gold production averaging 360,000 ounces per year over a nine-year mine life > Expected total cash costs averaging $300 per ounce > $145 million invested to year-end 2007, estimated $245 million more to completion in 2010   Agnico-Eagle acquired the Meadowbank project in 2007, recognizing its significant exploration upside and mining camp potential, and the opportunity to ramp up to production quickly with straightforward mining and processing plans. At Meadowbank, the construction timeline matches the availability of our mine-building team. At year-end 2007, construction of the mine was underway and a substantial portion of a 110-kilometre all-season road to the site was completed. Gold production is scheduled for early 2010, approximately six months earlier than previously planned. We anticipate a long-term, mutually beneficial relationship with the citizens and government of Nunavut, much like our experience in Quebec.     Approximately 600,000 ounces converted from resource to reserve in 2007, resulting in a 20% increase in probable gold reserves 2008 exploration budget of $10 million Focused on converting large gold resource, extending zones and testing new targets