Kittil Mine Project

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Kittilä Mine Project Presentation June, 2006
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AGNICO-EAGLE MINES LIMITED

• An international mid tier gold company with
  Operations in Canada and mine development
  projects and exploration activity in Canada,
  Finland, Mexico and the USA
• Over 30 years of continuous gold production in
  Canada. Since 1972 Agnico-Eagle has produced over
  3.9 million ounces (121 300 kg) of gold.
• Total gold reserves of 10.4 million ounces (326
  600 kg) in 2005.
• The LaRonde Mine in Quebec is Canadas largest
  gold deposit in terms of reserves.
• The Goldex mine project near LaRonde is under
  construction and gold production expected in
  2008
• Developing the nearby Lapa deposit with gold
  production also for 2008.
• Developing the Kittila mine in northern Finland,
  with initial gold production in 2008.
• Recently made the decision to develop the deep
  resources at the LaRonde mine, down to 3 000
  meters.

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Kittilä Mine
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INTRODUCTION PROJECT OVERVIEW

• The Suurikuusikko deposit hosts reserves of 14.2
  million tonnes containing about 2.4 Moz gold (ca.
  75 000 kg)
• Resources of more than 8 million tonnes
  containing additional 1.2 Moz gold (37 000 kg)
• The Suurikuusikko deposit will initially be mined
  by open pit followed by and underground mining
  via a decline.
• Mine construction to start immediately
• Gold production to begin by mid 2008 and extend
  over 13 years.
• Ore production 3 000 tonnes per day (ca 1 million
  tonnes per year) fed to a surface processing
  plant.
• Average annual gold production of 150 000 oz (4
  700 kg)
• In full production the mine will employ close to
  200 persons.

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HISTORY

• Discovered in 1986 by the GTK
• April 1998, Riddarhyttan Resources AB purchased
  the Suurikuusikko deposit from the MTI
• Between 1999 to 2005, over 136,000 metres
  exploration drilling completed to investigate the
  main Suurikuusikko auriferous structure
• In 1999, engineering studies initiated to
  determine the feasibility of a mining project
• In 2002, Riddarhyttan was granted an
  environmental permit for mining (open pit and
  underground) at Suurikuusikko
• In 2003, Riddarhyttan was granted a mining
  license
• In 2004 Agnico-Eagle acquired interest in
  Riddarhyttan
• Mineral resources increased from 2.0 Moz Gold to
  3.7 Moz Gold in 200-2005
• In 2005, Agnico-Eagle completed acquisition of
  the remainder of the shares of Riddarhyttan.
  Final FS initiated

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RESERVES
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SURFACE PLAN
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UNDERGROUND LONGITUDINAL VIEW
VIEW WEST
N
North Rouravaara Zone
Suurikuusikko Pit
Access Ramp
Exploration Drift
Suurikuusikko Zone
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ORE PROCESSING

• PROCESSING
• Ore Crushing and Grinding
• Sulphide Flotation
• Thickening
• Sulphur Oxidation in Autoclave
• C.C.D. Neutralisation
• Gold Recovery Detox

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MILL FLOWSHEET