#Gold Mining #Agnico Eagle #exploration

Agnico Eagle Mines Updates on Exploration and Future Prospects

Agnico Eagle Mines Limited has unveiled significant updates regarding its exploration activities for the year ending December 2024 and the plans for 2025. The company has reported a 1% year-over-year growth in its gold mineral reserves, now totaling an impressive 54.3 million ounces. This increase is attributed to successful exploration programs at various operational sites, including critical contributions from LaRonde, Macassa, and Detour Lake.

2024 Exploration Highlights

Throughout 2024, the exploration team at Agnico Eagle focused on not only maintaining but also enhancing the company's mineral reserves. Executives noted that due to a combination of cost optimization and increased drilling productivity, costs were reduced by approximately 8%. Noteworthy achievements included a 9% rise in inferred mineral resources, primarily driven by advancements at Detour Lake, Canadian Malartic, and Hope Bay.

Specific Updates:

• - Upper Beaver: This project saw an updated mineral reserve estimate of approximately 2.8 million ounces of gold and over 54,000 tonnes of copper, thanks to a successful technical evaluation completed in the last quarter of 2024.
• - Detour Lake: The exploration continued to expand underground indicated resources to about 1.87 million ounces and additional insights from ongoing drilling into inferred resources.
• - Odyssey Mine: Exploration efforts uncovered additional mineralization, leading to a 37% increase in inferred mineral resources at the East Gouldie deposit, now totaling roughly 4.6 million ounces of gold.

Moreover, Agnico Eagle's commitment to its