Agnico-Eagle Mines Limited1

2 Growth Strategy Building Value Through Production and Reserve Growth Produce more gold targeting over 1.2 million ounces by 2010 Grow gold reserves in mining friendly regions Now 15.4 million ounces Targeting million ounces within 20 months Acquire small, think big Create value through strategic acquisitions Be a low cost leader Generate strong earnings and cash flows from low costs operations Maintain a solid financial position Approximately $525 million in cash, no long-term debt

Agnico-Eagle Mines Limited3 Corporate Highlights Q1, Another Quarter of Strong Cash Flows and Earnings Strong quarterly earnings of $24.9 million or $0.21 per share Strong quarterly cash flow provided by operating activities of $56.1 million Gold reserves increased 23% to 15.4 million ounces from Dec. 31, 2006 Low total cash costs of minus $332 per ounce Four new gold projects under construction, Pinos Altos Board approval expected mid-2007

Agnico-Eagle Mines Limited4 Current gold reserves of 15.4 million ounces following successful Cumberland offer AEM’s gold reserves are significantly larger than its intermediate gold producing peers Targeting additional reserve conversion at Pinos Altos, Goldex, Kittila and Meadowbank Strong record of growing gold reserves per share Gold Reserves Anticipating Further Strong Growth In Reserves This Year Total Agnico-Eagle Gold Reserves (Millions of Ounces) LaRonde Goldex Lapa Kittila Pinos Altos Meadowbank 12.5 Target:

Agnico-Eagle Mines Limited5 Building Gold Production and Reserves Agnico-Eagle Mines Limited

6 Finland Kittila U.S.A. Nevada Mexico Pinos Altos Canada Toronto, HQ Canada LaRonde, Goldex & Lapa Global Growth Extensive Gold Growth Pipeline Management and skills in place for mine building AEM’s growth projects 100% owned, with low total acquisition costs Located in mining friendly regions of low political risk Each project region has long-term mining camp potential Largest exploration budget in Agnico-Eagle’s history – greater than $40 million Canada Meadowbank

Agnico-Eagle Mines Limited7 Substantial Gold Production Growth Additional Production Growth Anticipated to Come From Mexico Au Ounces LaRondeGoldexLapaKittilaMeadowbankPinos Altos Potential

Agnico-Eagle Mines Limited8 Capital Expenditure Estimates ($000's) Pinos Altos Potential

Agnico-Eagle Mines Limited9 LaRonde Long Life Gold Reserves – Construction on Extension Began May 2006 Proven and probable gold reserves of 35.6 million tonnes at 4.5 g/t, or 5.2 million oz Anticipated average production, post-2011, of 320,000 oz/yr at total cash costs of approximately $230/oz Development of new winze infrastructure ongoing Intriguing new mineralization west of orebody is being drilled

Agnico-Eagle Mines Limited10 Goldex High Tonnage Gold Mine Under Construction – Production Q2, 2008 Proven and probable gold reserves of 1.7 million ounces from 22.9 million tonnes grading 2.3 g/t Estimated average annual production of 170,000 oz/yr with total cash costs expected at $225/oz Shaft sinking underway - at 435 metres, toward planned depth of 857 metres * (see press release of Feb. 21/07 for further detail) Drill intersection of 2.9 g/t gold over 80.0 metres (true thickness)* to the east, and at depth to current resource envelope

Agnico-Eagle Mines Limited11 Lapa New Gold Mine 11 km East of LaRonde – Production Q4, 2008 Probable gold reserves of 1.2 million oz; 3.9 million tonnes at 9.1 g/t Anticipating average production of 125,000 oz/yr at expected total cash costs of $210/oz Shaft sinking and surface construction in progress. Shaft at 1,148 metres, toward planned depth of 1,370 metres Deposit open for expansion

Agnico-Eagle Mines Limited12 Kittila Mine – Finland Six Drills in Operation – Production Q3, 2007 Probable reserves of 2.6 million oz; 16.0 million tonnes at 5.1 g/t – open on strike and at depth Average production expected at 150,000 oz/yr with approximate total cash costs of $250/oz Exploration ongoing to convert resource and extend zones Open pit, surface facility and underground ramp well advanced

Agnico-Eagle Mines Limited13 Pinos Altos – Mexico Growing Gold and Silver Reserve Large land position – approximately 11,000 hectares $26 million exploration program in progress New drill targets in NW sector and at San Eligio Deposit close to major infrastructure Feasibility study complete, Board decision mid-2007 Optimization for new reserve underway Agnico-Eagle Mines Limited13 Contained gold reserve Probable reserve 18.6 million tonnes at 3.1 g/t, or 1.8 million oz Contained silver reserve Probable reserve 18.6 million tons at 92.8 g/t, or 55.5 million oz

Agnico-Eagle Mines Limited14 Meadowbank Agnico-Eagle Preliminary Estimates Mine Life:Eight years Mine Throughput:8,500 tpd Metallurgical Recovery:93% Mining Method:Open pit Initial Capital Cost:C$375 million Sustaining (life of mine):C$65 million Average annual production: Years 1 to 4:400,000 oz Au Life of Mine:350,000 oz Au Est. Total Cash Cost per oz: Years 1 to 4:$230 Life of Mine:$250 Open Pit Mineral Proven and Probable Reserve:2,890,000 oz Au

Agnico-Eagle Mines Limited15 Timeline and Upcoming News Second Quarter 2007 Pinos Altos 3 rd party review complete; Possible production decision Anticipated closing of Cumberland acquisition Exploration update, early May

Agnico-Eagle Mines Limited16 Generating strong earnings and cash flows gold growth projects fully funded Three new gold mines expected to start production next year potential to increase gold production fivefold by 2010 Existing projects provide potential to increase gold reserves to 18 million to 20 million ounces Exploration upside exists at all projects 16 Investment Highlights Early Stages of Growth Story – Potential Increase In Valuation Multiple

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Agnico-Eagle Mines Limited18 Appendix