AGNICO EAGLE ANNOUNCES INVESTMENT IN FUERTE METALS CORPORATION

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) has acquired 5,000,000 subscription receipts from 1555489 B.C. Ltd., a wholly owned subsidiary of Fuerte Metals Corporation, in a brokered private placement at C$1.65 per receipt, for total consideration of C$8,250,000. The investment aligns with Agnico Eagle’s long-standing approach of taking strategic equity positions in projects with strong geological potential, complementing its internal pipeline of high-quality growth opportunities.

Terms of the Subscription Receipts

Each subscription receipt will automatically convert, upon satisfaction of the escrow release conditions set out in the subscription receipt indenture, into one unit of Fuerte. Each unit will consist of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one common share at a price of C$2.50 for a period of five years from the date of issue.

One of the escrow release conditions is the completion by Fuerte of an acquisition of certain properties. In connection with that acquisition, Fuerte intends to issue, as partial consideration, up to 33,572,115 common shares (or securities convertible into common shares).

Ownership Impact

Prior to the private placement, Agnico Eagle owned 5,171,310 Fuerte common shares, representing approximately 8.43% of the issued and outstanding shares on a non-diluted basis. Following satisfaction of the escrow release conditions and the completion of the related issuances, Agnico Eagle is expected to hold 10,171,310 common shares and 5,000,000 warrants. This would represent approximately 8.12% of the issued and outstanding common shares on a non-diluted basis and approximately 11.65% on a partially diluted basis (assuming the exercise of the warrants held by Agnico Eagle at that time).

Investor Rights

Under an investor rights agreement dated January 31, 2024, and subject to maintaining certain ownership thresholds, Agnico Eagle is entitled to:

• Participate in equity financings or top up following dilutive issuances to maintain its pro rata ownership, or to acquire up to a 9.99% ownership interest at the time of such financing or issuance;
• Nominate one director to Fuerte’s board (and two directors if the board is increased to eight or more directors). Agnico Eagle has no present intention of exercising these nomination rights.

Ongoing Strategy and Regulatory Filing

The subscription receipts were acquired as part of Agnico Eagle’s strategy to secure positions in promising mineral opportunities. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may acquire additional Fuerte securities or dispose of some or all of its holdings. An early warning report will be filed in accordance with applicable securities laws.

About Agnico Eagle

Agnico Eagle is a Canadian-based and led company, Canada’s largest mining company and the world’s second-largest gold producer. The company produces precious metals from operations in Canada, Australia, Finland and Mexico, and advances a robust pipeline of exploration and development projects. Recognized globally for leading sustainability practices, Agnico Eagle was founded in 1957 and has declared a cash dividend every year since 1983.

Forward-Looking Statements

The information in this news release has been prepared as at October 9, 2025. Certain statements herein constitute forward-looking statements within the meaning of applicable U.S. and Canadian securities laws, including statements regarding the satisfaction of escrow release conditions, completion of the transaction and related issuances, the expected number of securities to be issued, Agnico Eagle’s anticipated ownership interest in Fuerte following such events, and potential future acquisitions or dispositions of Fuerte securities.

Forward-looking statements are based on assumptions believed to be reasonable as of the date made but are inherently subject to significant business, economic and competitive uncertainties and contingencies. Actual results may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their date. Except as required by law, Agnico Eagle does not intend to update these forward-looking statements.