TORONTO, June 14 /PRNewswire/ - Agnico-Eagle Mines Limited ("Agnico- Eagle") today announced that it has entered into an underwriting agreement in connection with its previously announced public offering of common shares. Agnico-Eagle will offer 9,000,000 common shares for gross proceeds of $108,000,000 with an option exercisable by the underwriters to purchase up to 1,350,000 additional common shares to cover over-allotments for a period of 30 days after the date of the final prospectus. The offering is being underwritten by a syndicate of underwriters led by Merrill Lynch Canada Inc. and TD Securities Inc. and is expected to close on or about June 19, 2001. The underwriting syndicate consists of Scotia Capital Inc., CIBC World Markets Inc., National Bank Financial Inc., Salomon Smith Barney Canada Inc., Dundee Securities Corporation and Research Capital Corporation. The net proceeds from the offering will be used to fund the expansion of the LaRonde Mine and for general corporate purposes, including possible acquisitions.

Agnico-Eagle 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 almost three decades of continuous gold production primarily from underground mining operations. Current proven and probable reserves stand at 3.3 million contained ounces, with an additional 4.5 million ounces in the mineral resource category at its LaRonde Mine.

Agnico-Eagle media releases and other securities filings are available at www.sedar.com.

This press release contains certain "forward-looking statements" (within the meaning of the United States Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties are disclosed under the heading "Risk Factors" in the Company's Annual Information Form (AIF) filed with certain Canadian securities regulators (including the Ontario and Quebec Securities Commissions) and with the United States Securities and Exchange Commission (on Form 20-F). SOURCE Agnico-Eagle Mines Limited

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