Mr. David Wong of Agnico Eagle reports

AGNICO EAGLE ANNOUNCES INVESTMENT IN G4G CAPITAL CORP. (PROPOSED TO BE RENAMED WHITE GOLD CORP.)

Agnico Eagle Mines Ltd. has entered into a share purchase agreement with G4G Capital Corp., which is proposed to be renamed White Gold Corp., pursuant to which Agnico Eagle has agreed to purchase from the issuer on a private placement basis such number of common shares of the issuer equal to 19.93 per cent of the total issued and outstanding common shares on a non-diluted basis as at the closing of the transaction (after giving effect to the transaction and other permitted treasury issuances of common shares that occur prior to, or concurrently with, the closing of the transaction). Agnico Eagle will pay $1.20 per common share. Closing of the transaction is expected to occur on or about Dec. 13, 2016, and is subject to certain conditions.

On closing of the transaction, Agnico Eagle and the issuer will enter into an investor rights agreement pursuant to which Agnico Eagle will: (i) have the right to participate in certain equity financings by the issuer to maintain its 19.93-per-cent interest in the issuer, and (ii) have the right (which it has no present intention to exercise) to nominate one person (and in the case of an increase in the size of the board of directors of the issuer to 10 or more directors, two persons) to the board of directors of the issuer. The investor rights agreement will provide the issuer with the right to designate a purchaser in the event that Agnico Eagle wishes to sell more than 5 per cent of its common shares. Under the investor rights agreement, Agnico Eagle will be subject to a two-year standstill, which will prohibit Agnico Eagle from taking certain actions, including acquiring more than 19.99 per cent of the issued and outstanding common shares, subject to certain exceptions.

The issuer has an option to acquire 12,301 claims across 21 properties covering approximately 249,000 hectares and representing approximately 30 per cent of the White Gold district in the Yukon Territory from Wildwood Exploration Inc. and Shawn Ryan, the chief technical adviser of the issuer.

Mr. Ryan, along with GroundTruth Exploration Inc., has a history of success with exploration activities in the Yukon Territory. Agnico Eagle expects the issuer to leverage the unique experience and innovative techniques employed by Mr. Ryan and GroundTruth to advance the issuer's current portfolio of projects in the Yukon Territory.

Agnico Eagle is acquiring common shares pursuant to the transaction for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional common shares or other securities of the issuer or dispose of some or all of the common shares or other securities of the issuer that it owns at such time.

An early warning report will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact: David Wong, Agnico Eagle Mines Ltd., 145 King St. East, Suite 400, Toronto, Ont., M5C 2Y7, or by telephone at 416-947-1212.

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