C O R R E C T I O N from Source --
Agnico-Eagle Mines Limited
In the press
release transmitted November 11, 2010, the number of warrants related to
the private placement was incorrect. Corrected copy follows:
AGNICO-EAGLE
MINES LIMITED REPORTS INVESTMENT IN WESTERN TROY CAPITAL RESOURCES INC.
(All amounts
expressed in Canadian dollars unless otherwise noted)
Toronto,
ON, - November 11 , 2010 - Agnico-Eagle Mines Limited (TSX: AEM / NYSE:
AEM) ("Agnico" or the
"Company") today reported that it had acquired 2,000,000 units
("Units") of Western Troy Capital Resources Inc.
("WTR") by way of a private placement at a price of $0.50 per
Unit for a total consideration of $1,000,000.00 in cash. Each Unit
consisted of one common share ("Common Shares"), resulting in
the acquisition of a total of 2,000,000 Common Shares of WTR by the
Company, and one share purchase warrant ("Warrants"), being
2,000,000 Warrants, each full Warrant entitling the holder to acquire one
Common Share at a price of $0.60 per share for the twenty-four months
following the closing date.
Agnico
now holds 2,000,000 common shares and 2,000,000 share purchase warrants
representing an ownership position in WTR of 14.66% on a partially
diluted basis.
The Common
Shares and Warrants were acquired for investment purposes. Agnico may acquire additional common shares or
warrants of WTR or dispose of some or all of the common shares or
warrants of WTR currently held.
Agnico
purchased the Common Shares and Warrants pursuant to the "accredited
investor" prospectus exemption provided in National Instrument
45-106.
About
Agnico-Eagle
Agnico-Eagle
Mines Limited is
a long established Canadian gold producer with operations located in
Canada, Finland and Mexico and exploration and development activities in
Canada, Finland, Mexico and the United States. Agnico-Eagle's LaRonde Mine is Canada's largest operating gold mine
in terms of reserves. Agnico-Eagle has full exposure to higher gold
prices consistent with its policy of no forward gold sales. It has paid a
cash dividend for 28 consecutive years. Agnico-Eagle's registered office
is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7.
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