Mr. Andrew Thomson reports

SOLTORO ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED ACQUISITION BY AGNICO EAGLE MINES

Soltoro Ltd. has concluded the previously announced plan of arrangement pursuant to which Agnico Eagle Mines Ltd. has acquired 100 per cent of the issued and outstanding common shares of Soltoro. Soltoro is now a wholly owned subsidiary of Agnico Eagle.

The arrangement was approved on June 4, 2015, at a Soltoro special meeting by approximately 99.95 per cent of the votes cast by Soltoro securityholders. Final approval for the arrangement was obtained from the Ontario Superior Court of Justice (Commercial List) on June 8, 2015. As a result, Soltoro's common shares will be delisted from the TSX Venture Exchange, and Agnico Eagle will apply to the relevant securities commissions for Soltoro to cease to be a reporting issuer under Canadian securities laws.

Former Soltoro president and chief executive officer Andrew Thomson commented: "I would like to thank the entire Soltoro team for their hard work and determination, which resulted in the successful transaction with Agnico Eagle. A special thanks is extended to our shareholders and former partners who provided us with the funding to advance our projects over the years. Through this transaction, Agnico Eagle has enhanced its portfolio of exploration and mining assets in southwestern Mexico with a view to advancing their development in the Guachinango district. We also look forward to shareholders' continued support in Palamina Corp."

The arrangement

Under the arrangement, each Soltoro common share was exchanged for 0.00793 of an Agnico Eagle common share, one cent in cash and one common share of a newly formed Ontario company named Palamina, valued at two cents per share, which was spun off to former Soltoro shareholders under the arrangement.

Full details of the arrangement and certain other matters are set out in the management information circular of Soltoro dated May 5, 2015. A copy of the information circular can be found under Soltoro's profile on SEDAR.

Soltoro shareholders who have questions, or who may need assistance with the completion of letters of transmittal and in collecting the arrangement consideration to which they are entitled, are advised to contact Computershare Investor Services Inc., the depository for the arrangement, at:

North American toll-free:  1-800-564-6253

Telephone:  1-514-982-7555 (outside North America)

We seek Safe Harbor.