Meadowbank

Meadowbank is located 70km north of Baker Lake, Nunavut, Canada. Agnico-Eagle estimates that it will cost Can$375 M to bring the project into production. Processing capacity is planned for 7,500 tpd with the possibility to increase production to 8,500 tpd via gravity separation and carbon in pulp leaching.

Three, closely-spaced open pits are proposed with proven and probable reserves of 21.3 M metric tons, grading 4.2 grams per tonne, or 2.9 M ounces of gold. Higher grades at depth suggest underground mining potential. Gold production is expected in early 2010. Hiring of senior staff, road construction, detailed engineering, and sourcing and acquisition of major capital equipment are ongoing.