Agnico Eagle Mines has  provided an update on activities at its 100% owned Nunavut projects. These include the Amaruq project, which is located approximately 50 km northwest of the Meadowbank mine, and the Meliadine project, which is located approximately 25 km from Rankin Inlet.  Highlights include:

• Type A water licence received for the Whale Tail pit at the Amaruq project – On July 11, 2018, the Type A water licence was approved by the Minister of Crown-Indigenous Relations and Northern Affairs Canada. This permit allows for the construction and development of the Whale Tail pit
• Preliminary construction work and stripping of the Whale Tail pit will begin in the third quarter of 2018 as expected – The Whale Tail deposit remains on schedule and budget for the start of production in the third quarter of 2019
• The Whale Tail underground exploration ramp is proceeding as planned – At the end of June 2018, approximately 478 m of ramp development had been completed at a cost of approximately $10.7 million.  In 2018, approximately 1.2 km of ramp development is planned
• Amaruq exploration drilling continues to expand known mineralised zones – Recent drilling intersected 10.2 g/t gold over 16.9 m at 316 m depth, confirming the grade and geometry in the Whale Tail ore shoot.  A recent hole in the V Zone returned 10.3 g/t gold over 5.0 metres at 20 metres depth, which is expected to extend mineral resources westward at surface
• Meliadine project proceeding on schedule and on budget – Development activities remain on track for the commencement of production at the Meliadine project in the second quarter of 2019.  The first boat of the 2018 shipping season has been off-loaded at Rankin Inlet, and additional boats are expected in the coming weeks

“We would like to thank the various regulatory agencies, both federal and territorial, the Inuit Organisations, the local communities and our employees for their diligent participation in the permitting process.  With the approval of the Whale Tail Type A Licence, the project remains on schedule to commence production in the third quarter of 2019, and exploration activities continue to expand the known mineralisation, which could potentially extend the mine life”, said Sean Boyd, Agnico Eagle’s Chief Executive Officer. “Elsewhere in Nunavut, development activities at Meliadine are progressing on schedule and on budget, which continues to support the start of production in the second quarter of 2019”, added Boyd.

Agnico Eagle has a 100% interest in the Amaruq project, approximately 50 km northwest of the Meadowbank mine. Amaruq is situated on a 99,878 ha property, almost adjacent to the 68,735 ha Meadowbank property. Development of the Amaruq project was approved in February 2017 by the Company’s Board of Directors as a satellite deposit to supply ore to the existing Meadowbank mill, pending the receipt of the required permits.

On July 11, 2018, the Honourable Dr Caroline Bennett, Minister of Crown-Indigenous Relations and Northern Affairs Canada (formerly Indigenous and Northern Affairs Canada), approved Agnico Eagle’s Type A Water Licence for the Whale Tail pit, which had been issued by the Nunavut Water Board on May 30, 2018. This approval authorizes the Company to commence development activities on the Whale Tail deposit.

In late July 2018, the Company plans to initiate construction of the Whale Tail dike (rock fill has already been stockpiled for use as per approval within the pre-development license) and begin progressive overburden and waste stripping for Phase 1 of the Whale Tail Pit.

‎The schedule for construction activities, including Whale Tail Lake dewatering, is expected to allow for progressive mining and stockpiling of ore in the second quarter of 2019 to support the expected start of production in the third quarter of 2019, which will coincide with the end of production at the Meadowbank mine in 2019.