Mr. David Wong reports

AGNICO EAGLE EXERCISES PERSHIMCO WARRANTS

Agnico Eagle Mines Ltd. has exercised the 19.8 million warrants of Pershimco Resources Inc. that it acquired under a private placement on Jan. 28, 2014. On July 10, 2014, Pershimco amended the exercise price of the warrants to 40 cents per common share until Aug. 9, 2014, after which the exercise price reverts to the previous exercise price of 54 cents per common share for the duration of the term of the warrants.

With the 19.8 million common shares issued on exercise of the warrants, Agnico Eagle now holds 39.6 million common shares. Pershimco has advised Agnico Eagle that warrants exercisable for the issuance of an additional 4,027,005 common shares held by another party were exercised concurrently with the exercise of warrants held by Agnico Eagle, and accordingly, on the exercise of the warrants, the common shares held by Agnico Eagle will represent approximately 17.8 per cent of the issued and outstanding common shares.

Agnico Eagle is acquiring the common shares for investment purposes. Depending on market conditions, Agnico Eagle may, from time to time, acquire additional securities of Pershimco or dispose of some or all of the common shares.

We seek Safe Harbor.