Agnico Eagle Awarded $10 Million for the Ontario Skills Development Fund to Continue Leading Skills Development and Training for Mining Industry in Northern Ontario

TIMMINS, ON (NOVEMBER 12, 2024) — Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) (“Agnico Eagle”) has received $10 million from the Province of Ontario’s Skills Development Fund Training Stream to provide a comprehensive skills development program to support the availability of a qualified workforce in the mining industry. Agnico Eagle will use this funding to continue leading workforce development initiatives in Northern Ontario.

“At Agnico Eagle, our goal is to hire 100% of our workforce from the regions in which we operate. We believe that training and developing people from nearby communities plays a key role to achieve this goal and we thank the Province of Ontario’s Skills Development Fund Training Stream for their funding, which will further support our workforce development initiatives,” says Andre Leite, Vice President, Ontario for Agnico Eagle. “The long-term success of the mining industry relies on developing the future workforce and Agnico Eagle is committed to be a leader in training, developing and employing the people of Northern Ontario for the long-term.”

“This is one of the largest amounts given to anyone one company through the Skills Development Fund. That it was given to the mining sector speaks to the importance that our government places on developing the workforce required to full the employment needs in this sector which is central to meeting our government’s economic goals. I am pleased to see this substantial investment in Agnico Eagle through the Skills Development Fund, helping to train individuals for rewarding careers,” said George Pirie, Minister of Mines. “This initiative not only connects workers to better jobs and better pay, but also builds a skilled workforce and creates sustainable livelihoods for Indigenous and Northern communities.”

“Ontario’s Skills Development Fund is an example of what can be done when companies like Agnico Eagle and First Nations partners work to improve the workforce in Northern Ontario—a commitment we deeply appreciate,” said Stephen Crawford, Associate Minister of Mines. “By investing in training and development, our government is helping the private sector create meaningful opportunities, address critical labour market needs, and strengthen the economic future of Indigenous and northern communities.”

The funding from the Skills Development Fund will contribute to addressing the current tight labour market and economic concerns of the mining industry. The project will train more than 150 workers over a one-year period, with a priority for Indigenous Peoples and other underrepresented minority groups. This program will support workforce development for critical mining jobs in high demand, including underground and surface miners, trades apprenticeships and engineers and geologists in training.

As a key differentiator, this project provides participants with immediate, full-time employment, with training directly at Agnico Eagle’s mining operations, offering an unparalleled experience and opportunity for sustainable employment.

Also key to this program is the collaboration of Agnico Eagle’s Partner Indigenous Nations.

Taykwa Tagamou Nation Chief Bruce Archibald said, “Our collaboration with Agnico Eagle Mines through the Skills Development Fund program heralds a crucial step towards realizing the aspirations of the Truth and Reconciliation Commission’s Call to Action #92. This initiative not only opens doors to education and employment for our people but also paves the way for enhancing our workforce’s capabilities. Taykwa Tagamou Nation is heartened by Agnico Eagle’s dedication to fostering our community’s growth through comprehensive training and apprenticeship opportunities, ensuring a pathway to meaningful and stable employment for our members.”

Matachewan First Nation Chief Alex (Sonny) Batisse said, “This new Skills Development project not only brings our Nation state-of-the-art training and on-the-job learning, but it also opens doors to valuable apprenticeship opportunities. It equips our Nation’s members with essential skills for today’s and tomorrow’s job market, laying a solid foundation for stable, reliable employment. This program is a testament to the power of collaborative efforts in fostering a highly skilled workforce, ensuring our Nation is not just a participant, but a leader in our region’s economic landscape.”

Moose Cree First Nation Chief Peter Wesley said, “Our collaboration through the Skills Development Fund program marks another example of the partnership we have fostered with Agnico Eagle, which advances our Nation’s priority of building a high-skilled and sustainable workforce. By providing a unique and forward-looking approach to skills development, including both training and apprenticeships, we are empowering our Members with the tools and knowledge necessary in building success. Our partnership with Agnico Eagle continues to show how working together can grant positive benefits in setting the standard for future collaborations and paving the way towards a more inclusive and prosperous future.”

About Agnico Eagle

Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

Further Information

For further information regarding Agnico Eagle’s Ontario operations, please contact Ontario Communications at email address Ontario.Communications@agnicoeagle.com.

NT4