Day: February 15, 2024

“The Company’s ambitious exploration program in 2023 and continuing into 2024 is yielding exciting results. At Detour Lake, step-out drilling suggests potential for an underground operation and, together with optimization of the current open pits and mill, bringing the Detour Lake mine to a production rate of one million ounces per year. At Odyssey, step-out drilling continues to significantly extend the East Gouldie deposit to the west and east. At Hope Bay, drill results confirm the expansion of the Madrid deposit at depth with wide high grade intercepts, in line with our expectations for the exploration upside of this project,” said Guy Gosselin, Agnico Eagle’s Executive Vice-President, Exploration.

As of December 31, 2023, the San Jose Mine has Proven and Probable Mineral Reserves of 0.7 Mt containing 3.7 Moz Ag and 23 koz Au, in addition to Inferred Resources of 1.0 Mt containing a further 4.9 Moz Ag and 35 koz Au.

“We had a very strong close to 2023, with our fourth quarter results driving a record year in terms of safety, operating and financial performance. We achieved the top end of our gold production guidance range and the mid-point of our cost guidance ranges despite inflationary pressures throughout the year,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.

Chris Wright, Chairman & Chief Executive Officer declared: “We had always remained confident throughout the judicial process that our rightful ownership rights would be restored. We also understood that the process would take some time as we commenced the legal proceedings in Mexico. Our patience and perseverance has paid off and we are looking forward to advancing this exceptional copper-gold project.”