Q1 2009 Agm Presentation Final

AGNICO-EAGLE MINES LIMITEDSHAREHOLDER MEETINGApril 30, 2009

Member of the World Gold Council www.gold.com Goldex site, Canada

With its emphasis on , an exceptional record of creatingshareholder value, and one ofthe most robust profilesin the industry, Agnico-EagleMines Limited has emergedas the gold stock of choice.

quality

growth

Forward Looking Statements

The information in this document has been prepared as at April 30, 2009. Certain statements contained in this document constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward-looking statements or information.

Such statements include without limitation: statements regarding timing and amounts of capital expenditures and other assumptions; estimates of future reserves, resources, mineral production and sales; estimates of mine life; estimates of future mining costs, cash costs, minesite costs and other expenses; estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; statements and information as to the projected development of certain ore deposits, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such exploration, development and production or decisions with respect to such exploration, development and production; estimates of reserves and resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the Company's minesites and statements and information regarding the sufficiency of the Company's cash resources. Such statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward looking statements and information. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; risks associated with foreign operations; governmental and environmental regulation; the volatility of the Company's stock price; and risks associated with the Company's byproduct metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this document, see Company's Annual Report on Form 20-F for the year ended December 31, 2008, as well as the Company's other filings with the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. The Company does not intend, and does not assume any obligation, to update these forward-looking statements and information. Marc Legault, a Qualified Person and the Company’s Vice-President, Project Development, reviewed the technical information disclosed herein. For a detailed breakdown of the Company’s reserve and resource position see the February 18, 2009 press release on the Company’s website. This press release also lists the Qualified Persons for each project.

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Notes To Investors

Note to Investors Regarding the Use of Non-GAAP Financial Measures

This document presents estimates of future "total cash cost per ounce" and "minesite cost per tonne" that are not recognized measures under United States generally accepted accounting principles ("US GAAP"). This data may not be comparable to data presented by other gold producers. These future estimates are based upon the total cash costs per ounce and minesite costs per tonne that the Company expects to incur to mine gold at the applicable projects and do not include production costs attributable to accretion expense and other asset retirement costs, which will vary over time as each project is developed and mined. It is therefore not practicable to reconcile these forward-looking non-GAAP financial measures to the most comparable GAAP measure. A reconciliation of the Company's total cash cost per ounce and minesite cost per tonne to the most comparable financial measures calculated and presented in accordance with US GAAP for the Company's historical results of operations is set forth in the notes to the financial statements included in the Company's Annual Information Form and Annual Report on Form 20-F, for the year ended December 31, 2008, as well as the Company's other filings with the Canadian Securities Administrators and the SEC.

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Gold Bull Market Continues

“It’s pure, It’s simple. As an asset class, gold is as pure and simple as they come. It is not a relic of the past, or irrelevant as some might suggest. Gold has remained a storehouse of value and a symbol of wealth throughout the ages. In fact, gold has actually taken on more importance – as real money and as a portfolio diversifier in today’s world of a perpetually expanding paper money supply”

Excerpt from 1999 Agnico-Eagle Annual Report

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Consistent, Focused Business Approach

“Throughout Agnico-Eagle’s long history we have worked hard at keeping our story uncomplicated and our business strong. Our main objective is to find more gold and produce it in increasing quantities at the lowest possible cost, to create more value and build a stronger company.

Our goal is not to become a larger gold producer by adding marginal assets. Our goal is to create the predominant midsized gold company, one with low production costs, growing gold reserves, a strong retail investor following and a brand name as the gold stock of choice in a rising gold market”

Excerpt from 1999 Agnico-Eagle Annual Report

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Corporate Strategy and Q1 2009 Highlights

■ Increased gold production■ Record quarterly gold production in Q1 of 91,812 oz

■ 2009 gold production to double versus 2008. Double again in 2010

■ Grow gold reserves■ Record reserves of 18.1 million ounces

■ Several deposits likely to exceed 5 million ounces

■ Acquire small, think big■ Since being acquired, gold reserves and resources

up 89%* in Finland, Mexico and Nunavut

■ Be a low-cost leader■ Lowest quartile of total cash cost per ounce

at $312 in Q1 2009

■ Maintain a solid financial profile■ Fully funded for 2009 capex

* See attached reserve and resource tables

Maintaining focus on per share value creation

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Operating Results

Low total cash costs per ounce

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Q1 2009

Q1 2008

2009 Estimate

Full Year 2008

Gold (ounces)

91,812 50,892 550,000 to 575,000 276,762*

Silver (ounces in thousands)

1,029 1,026 4,600 4,079

Zinc (tonnes)

13,291 19,467 63,000 65,755

Copper (tonnes)

1,682 1,453 6,800 6,922

Total cash costs ($/oz)

$312 $(399) $340** $162

All $ amounts are in US$, unless otherwise indicated

Total Cash Costs($/oz)

* Includes 13,207 ounces of non commercial production from Goldex and Kittila** Assumptions for 2009 total cash costs include Ag $11/oz, Zn $1,300/t, Cu $4,000/t, C$/US$ of 1.22.and US$/Euro of 1.30

00 01 02 03 04 05 06 07

$188 $155$182

$269

$56 $43

-$365

$162

-$690

7

09E

$340 est.

Financial Results

Continued strong cash flows

Q1 2009

Q12008

Full Year 2008

Revenues frommining operations (millions)

105.8 119.1 368.9

Earnings (millions)

54.3 28.9 73.2

Earnings per share (fully diluted)

0.35 0.20 0.50

Cash provided by operating activities (millions)

48.8 54.6 121.2

All amounts are in US$

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Strong Financial Position

All amounts are in US$, unless otherwise indicated

March 31 2009

Dec. 31 2008

Cash and cash equivalents(millions)

$208.4 $99.4

Long term debt(millions)

$415.0 $200.0

Available credit facilities(millions)

$129.6 $345.0

Common shares outstanding (millions)

155.7 154.8

Common shares, fully diluted (millions)

170.6 168.1

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Pinos Altos site, Mexico

Growth

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Gold Reserves Per Share Among Highest In Industry

■ Shares outstanding increased only 3.1 times since 1998. Gold reserves up 13.9 times

■ Targeting additional reserve conversion at Kittila, Pinos Altos, Goldex and Meadowbank

■ Uniquely positioned with potential for several 5 million ounce gold deposits

GOLD RESERVES(Millions of Ounces)

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2010EST.

Meadowbank

Pinos Altos

Kittila

Goldex

Lapa

LaRonde

1.3

3.0 3.3 3.34.0

7.9 7.9

10.4

12.5

16.7

18.1

20-21

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AEM Provides Increasing Leverage To Gold

■ AEM ranks among the highest in ounces of production per share

■ Combined with some of the lowest cash costs in the industry, this also translates into strong cash flow per share performance

Ounces of Production per Thousand Shares

0

1

2

3

4

5

6

7

8

2007A 2008A 2009E 2010E

12

Industry Leading1 Gold Production Growth Estimates

1 For an intermediate or senior gold producer* Total cash costs per ounce for all years were calculated using the following metal prices and exchange rates (royalties included where applicable): $10.00/oz Ag; $1,200/t Zn;

$3,700/t Cu; C$/US$ of 1.22; US$/Euro of 1.28

Payable Gold Production(ounces)

Total Cash Costs($/oz)*

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

2008A 2009E 2010E 2011E 2012E 2013-2018 Avg.

0

50

100

150

200

250

300

350

Meadowbank

Pinos Altos

Kittila

Goldex

Lapa

LaRonde

Total Cash Costs (weighted average)

13

Capital Expenditure Estimates ($000s)

Sustaining Capital

LaRondeGoldex

Lapa

Kittila

Pinos Altos

Meadowbank

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

2008A 2009E 2010E 2011E 2012E

Actual

Projects Nearing Completion – Lower Capex Going Forward

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Estimate

Kittila site, Finland

Quality

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■ Located in mining-friendly regions of low political risk

■ 100% owned, with low total acquisition costs

■ Each project has long-term mining camp potential

Operations At A Glance

Three mines now operating. Three new gold mines nearing completion

LaRondeQUEBEC, CANADA

GoldexQUEBEC, CANADA

KittilaKITTILA, FINLAND

LapaQUEBEC, CANADA

Pinos AltosCHIHUAHUA, MEXICO

MeadowbankNUNAVUT, CANADA

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Fraser Institute’s ranking

1 Fraser Institute’s ranking


14

Fraser Institute’s ranking



44

Fraser Institute`s 2008/2009 ranking of 71 mining jurisdictions

LaRonde – Canada

■ Operations:■ Produced 51,339 ounces of gold in Q1 2009, with a total cash cost of $294/oz

■ Gold reserves of 5.0 million ounces from 35.8 million tonnes grading 4.3 g/t

■ Estimated average annual gold production of 320,000 ounces through 2022

■ Project: ■ Shaft sinking for Extension at 2,680 metres of 2,880 metres final depth

■ Start of production from Extension expected in 2011. On time, on budget

■ 2009 Exploration:■ Focus on resource conversion, additional potential at depth

Long Life Gold Reserves – Good cost performance continues

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Goldex – Canada

■ Operations:■ Produced 35,959 ounces of gold in Q1 2009, with a total cash cost of $338/oz



■ Project:■ Examining options to increase production rate from 6900 tpd to at least 8000 tpd.

Results expected Q2 2009

■ 2009 Exploration:■ Exploration focus on resource conversion, mineralization to west

Steady Production – Achieving operating targets

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Kittila – Finland

■ Operations:■ Produced 4,514 ounces of gold in Q1 2009 - non-commercial production



■ Project: ■ Examining options to significantly increase production rate of growing deposit.

Results expected Q4 2009

■ 2009 Exploration:■ Focus on resource conversion, expansion below Suuri and Roura, and along strike

■ $16 million expected to be spent on exploration – nine drills operating

Longer mill commissioning period required

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■ Mechanical commissioning completed■ All circuits operating at steady state as designed

■ Gold flotation recovery nearing design parameters

■ Two metallurgical issues recently identified■ Gold chloride compound forming in autoclave

■ Activation of organic material in autoclave

■ These issues not uncommon in gold POX circuits

■ Variable process conditions being tested■ Residence time / oxygen levels

■ Acid levels / oxidation conditions

■ Pre-flotation of organic carbon

■ Following metallurgical remediation, design mill recoveries higher than 83% expected over life of mine

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Plant Commissioning Phase Extended

Kittila – Finland

Lapa – Canada

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Produced First Gold On Schedule

■ Project:■ Gold reserves of 1.1 million ounces from

3.8 million tonnes grading 8.8 g/t


■ First three mining blocks have been extracted at higher than expected grade

■ Ore stockpile of approximately 30,000 tonnes grading 11.0 g/t

■ Plant commissioned. First gold produced in April

■ 2009 Exploration:■ Focus on resource conversion, further

exploration upside at depth and to the East

Pinos Altos – Mexico

■ Project:■ Gold reserves of 3.6 million ounces of gold, 100 million ounces of silver from 41.8

million tonnes grading 2.7 g/t gold and 74.6 g/t silver

■ Estimated average annual gold production of 175,000 ounces and 2.6 million ounces of silver through 2022

■ Initial production expected on time, on budget, in Q3, 2009

■ Feasibility study completed on stand-alone operation at Creston Mascota

■ 2009 Exploration: ■ Focus on resource conversion, expansion of Pinos Altos zones, Reyna de Plata,

Creston Mascota

■ $11 million exploration program. Drilling from underground decline underway

On Schedule - Production expected in third quarter 2009

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Meadowbank – Canada

■ Project:■ Gold reserves of 3.6 million oz from 32.8 million tonnes grading 3.5 g/t

■ Estimated average annual gold production expected at 350,000 oz/yr through 2019

■ Start-up expected Q1, 2010

■ Project on schedule, but higher construction costs

■ Scoping study underway on potential of expansion. Could increase production rate from 8,500 tpd to 10,000 tpd. Study results expected Q3 2009

■ 2009 Exploration: ■ Focus on resource conversion and expansion of Vault, Goose South and Portage

■ $11 million exploration program in progress. Seven drills operating

Production on Schedule for Q1 2010

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Upcoming News

2009 Internal Expansion Studies

Scoping study on Goldex expansion and feasibility study on Pinos Altos expansion at Creston Mascota

Q2

Q3

Q4

Scoping study on Meadowbank expansion

Scoping study on large scale expansion at Kittila

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Investment Highlights

■ Long operating history and strong management team

■ Gold production expected to double to 550,000 ounces to 575,000 ounces in 2009. To double again to 1.2 million ounces in 2010

■ Existing projects provide potential to increase gold reserves to 20-21 million ounces by year end 2010

■ Potential for several five million ounce gold deposits is driving a growing production profile post-2010

Share price up approximately 300% from 2003 to 2008

GoldexQUEBEC, CANADA

KittilaKITTILA, FINLAND

LaRondeQUEBEC, CANADA

Quality

Pinos AltosCHIHUAHUA, MEXICO

MeadowbankNUNAVUT, CANADA

LapaQUEBEC, CANADA

Growth

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Corporate Social Responsibility

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■ Core Values ■ Operate safely

■ Protect the environment

■ Treat people and communities well

■ Make a profit

■ Won the 2008 Desjardins Sustainable Development Award

■ Recognized for focus on quality, growth, strong financial position while protecting the environment and maintaining a safe workplace

■ Named Nunavut Mining Company of the Year at the 2009 Nunavut Mining Symposium

Sustainable Development

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Initiatives – Community, Environment and Health and Safety

■ LaRonde mine won its fourth consecutive provincial mine rescue championship

■ In 2008, the combined lost-time injury frequency rate for AEM and all contractors was 3.7, better than objective of 3.8

■ Manitou-Goldex Rehabilitation Project

■ established program with the Quebec government to rehabilitate an orphanedacid-generating tailings site using neutralizing tailings from Goldex

■ AEM is the first foreign mining company to have received ESR certification as a socially responsible company from the Centro Mexicano para la Filantropia

LaRonde site, Canada

Appendix

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Operating Mines With Reserves Over 5M oz, Grading Over 2g/t Au

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Property Name CountryLocation Ranking*

Reserves - Grade

Reserves - Contained Year

Total Cash Costs

Production (000's oz)

(100% basis) %

Owned Operator/Significant Owner

1 Turquoise Ridge (Getchell) United States - Nevada 3 15.58 g/ t 5,313,000 oz 2008 515 165 75% Barrick Gold Corporation (Operator)

2 Moab Khotsong Gold Mine South Africa 49 10.86 g/ t 7,320,000 oz 2008 379 192 100% AngloGold Ashanti Limited

3 Mponeng Gold Mine South Africa 49 10.69 g/ t 13,000,000 oz 2008 249 600 100% AngloGold Ashanti Limited

4 Bulyanhulu Gold Operation Tanzania 48 9.86 g/ t 11,977,000 oz 2008 620 200 100% Barrick Gold Corporation (Operator)

5 Phakisa Gold Mine South Africa 49 8.31 g/ t 5,330,000 oz 2008 609 17 100% Harmony Gold Mining Company Limited

6 Driefontein Gold Mine South Africa 49 7.60 g/ t 19,700,000 oz 2008 412 928 100% Gold Fields Limited (Operator)

7 Obuasi Gold Mine Ghana 35 7.53 g/ t 9,660,000 oz 2008 633 357 100% AngloGold Ashanti Limited

8 Evander Gold Mine South Africa 49 7.09 g/ t 14,153,464 oz 2008 556 204 100% Harmony Gold Mining Company

9 Kloof Gold Mine South Africa 49 6.80 g/ t 11,070,000 oz 2008 430 821 100% Gold Fields Limited (Operator)

10 Elandsrand Gold Mine South Africa 49 6.66 g/ t 8,629,195 oz 2008 679 175 100% Harmony Gold Mining Company

11 South Deep Gold Mine South Africa 49 6.10 g/ t 29,130,000 oz 2008 727 232 100% Gold Fields Limited (Operator)

12 Beatrix Gold Mine South Africa 49 5.00 g/ t 6,700,000 oz 2008 515 438 100% Gold Fields Limited (Operator)

13 Loulo Gold Operation Mali 33 4.42 g/ t 7,400,992 oz 2008 511 258 80% Randgold Resources Limited

14 LaRonde Gold/Base Metals Mine Canada - Quebec 1 3.99 g/t 5,000,000 oz 2008 106 216 100% Agnico-Eagle Mines Limited

15 Carlin Gold Mine United States - Nevada 3 3.80 g/ t 12,709,380 oz 2008 na na 100% Newmont Mining Corporation

16 Olimpiada Gold Operation Russia 53 3.75 g/ t 15,385,265 oz 2008 na 854 100% OJ SC Polyus Gold (Operator)

17 Betze-Post Gold Mine - Open Pit United States - Nevada 3 3.70 g/ t 10,294,000 oz 2008 452 1,706 100% Barrick Gold Corporation (Operator)

18 Porgera Gold Operation Papua New Guinea 61 3.08 g/ t 8,240,000 oz 2008 417 660 95% Barrick Gold Corporation (Operator)

19 Geita Gold Mine Tanzania 48 2.93 g/ t 5,140,000 oz 2008 728 264 100% AngloGold Ashanti Limited

20 Lihir Gold Mine Papua New Guinea 61 2.83 g/ t 21,778,721 oz 2008 406 771 100% Lihir Gold Limited (Operator)

21 Aksu Gold Mine Kazakhstan 56 2.55 g/ t 5,796,297 oz 2005 na na 100% KazakhGold Group Limited

22 Ahafo Gold Operation Ghana 35 2.33 g/ t 9,380,000 oz 2008 408 521 100% Newmont Mining Corporation

Lapa Canada - Quebec 1 8.80 g/ t 1,061,000 oz 2008 na na 100% Agnico-Eagle Mines Limited

Kittila Gold Mine Finland 14 4.69 g/ t 3,224,000 oz 2008 na na 100% Agnico-Eagle Mines Limited

Meadowbank Gold Mine Canada - Nunavut 44 3.45 g/ t 3,638,000 oz 2008 na na 100% Agnico-Eagle Mines Limited

Pinos Altos Mexico 28 2.68 g/ t 3,593,000 oz 2008 na na 100% Agnico-Eagle Mines LimitedGoldex Canada - Quebec 1 2.05 g/ t 1,571,000 oz 2008 419 57 100% Agnico-Eagle Mines Limited

Notes:

*2008 reserve data for Harmony Gold, Newcrest and Gold Field is as of June/08; Operating data is annualized from H2/08

*2008/09 Fraser Institute study ranked 71 mining jurisdictions

Source: Intierra, Fraser Institute, company websites -- March 2009

Au m

ines

wit

h r

eser

ves

>5m

oz, gr

adin

g >2 g

/t

30

Gold and Silver Reserves and Resources

Tonnes (x000)

Gold (g/t)

Gold(ounces)

(000’s)

Proven 4,828 2.77 430

Probable 154,469 3.55 17,631

Total Reserves

159,297 3.53 18,061

Indicated 47,569 2.07 3,173

Inferred 46,603 3.84 5,760

Tonnes (x000)

Silver(g/t)*

Silver(ounces)

(000’s)

Proven 4,172 66.74 8,952

Probable 73,404 55.83 131,759

Total 77,576 56.42 140,711

Indicated 18,817 26.31 15,919

Inferred 8,937 28.32 8,138

*Calculated grades

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Copper, Zinc and Lead Reserves and Resources

Tonnes (x000)

Copper(%)*

Copper(tonnes)

Proven 4,075 0.33 13,370

Probable 31,735 0.28 89,961

Total 35,810 0.29 103,331

Indicated 6,349 0.15 9,399

Inferred 4,937 0.44 21,515

Tonnes (x000)

Zinc(%)*

Zinc(tonnes)

Proven 4,075 3.27 133,442

Probable 31,735 1.42 450,246

Total 35,810 1.63 583,688

Indicated 6,349 1.55 98,124

Inferred 4,937 0.77 38,068

Tonnes (x000)

Lead(%)*

Lead(tonnes)

Proven 4,075 0.37 15,146

Probable 31,735 0.12 38,769

Total 35,810 0.15 53,915

Indicated 6,349 0.16 10,235

Inferred 4,937 0.08 3,946

*Calculated grades

Executive and Registered Office:

145 King Street East, Suite 400Toronto, Ontario, Canada, M5C 2Y7Tel: 416-947-1212Toll-Free: 888-822-6714 Fax: 416-367-4681

www.agnico-eagle.com

Trading Symbol: AEM on TSX & NYSE

Sean BoydVice Chairman and Chief Executive Officer Ebe ScherkusPresident and Chief Operating OfficerDavid GarofaloSenior Vice President, Finance and Chief Financial Officer

Investor Relations:[email protected]

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A solid financial position, low-cost structure, well-funded growth projects in regions of low political risk, and a focused, consistent strategy put Agnico-Eagle in a strong position to continue creating exceptional per share value.

Member of the World Gold Council www.gold.com