Key Highlights Strong production and cost performance continue – Payable gold production in the first quarter of 2017 was 418,216 ounces of gold at production costs per ounce of $578, total cash costs per ounce of $539 and all-in sustaining costs per ounce (“AISC”) of $741 Full year production guidance increased – Production is now expected to exceed 1.57 million ounces compared to previous guidance of 1.55 million ounces. The increase reflects the extension of the mine life at Lapa to the end of the second quarter of 2017 Canadian Malartic Extension project receives Government of Quebec approval Goldex Deep 1 production expected to come in ahead of schedule and under budget Exploration drilling at Amaruq extends and infills Whale Tail Deposit to the west and infills V Zone Meliadine project on schedule and budget A quarterly dividend of $0.10 per share was declared

Comment by Sean Boyd, Chief Executive Officer "Operationally, 2017 has started strongly with solid performance on both the production and cost fronts. Higher gold production at lower costs has resulted in stronger cash flow generation and has allowed us to increase our production guidance for the year”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “In the first quarter we also made very good progress at several of our growth projects with Meliadine progressing as expected, the Canadian Malartic extension receiving government approval and the Goldex Deep project ahead of schedule and under budget”, added Mr. Boyd.

Financial ResultsSolid production and cost performance Q12017 Q12016 Gold (ounces in thousands) 418 411 Total cash costs ($ per ounce) $539 $573 Revenues frommining operations (millions) $547 $491 Net income (millions) $76 $28 Net income per share (basic) $0.33 $0.13 Cash provided by operatingactivities (millions) $223 $146

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