An anonymous director of Agnico Eagle reports

AGNICO EAGLE ANNOUNCES INVESTMENT IN COLLECTIVE MINING LTD.

Agnico Eagle Mines Ltd. has agreed to subscribe for 4,741,984 common shares of Collective Mining Ltd. in a non-brokered private placement at a price of $11 per common share for aggregate consideration of $52,161,824. Concurrently with the closing of the private placement, Agnico Eagle will exercise all of the common share purchase warrants of Collective it currently holds to acquire an additional 2.25 million common shares at a price of $5.01 per common share for aggregate consideration of $11,272,500. Closing of the private placement is expected to occur on or about March 20, 2025, and is subject to certain conditions.

Agnico Eagle continues to focus on its portfolio of high-quality internal growth projects and complements its pipeline of projects with a strategy of acquiring strategic toehold positions in projects with high geological potential. The investment in Collective provides Agnico Eagle with exposure to an early-stage gold exploration project in Colombia, led by a team with a proven record, in a region with a long history of mining. With this investment, Agnico Eagle continues to assess the project's strong geological potential, as well as the jurisdiction.

Agnico Eagle currently owns 5,726,235 common shares and 2.25 million warrants. On closing of the private placement and following the exercise of the warrants held by Agnico Eagle, Agnico Eagle will own 12,718,219 common shares and nil warrants, representing approximately 14.99 per cent of the issued and outstanding common shares on a non-diluted basis.

In connection with its initial investment in Collective on Feb. 24, 2024, Agnico Eagle and Collective entered into an investor rights agreement, pursuant to which Agnico Eagle was granted certain rights, provided Agnico Eagle maintains certain ownership thresholds in Collective, including: (a) the right to participate in equity financings and top up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Collective at the time of such financing or acquire up to a 9.99-per-cent ownership interest, on a partially diluted basis, in Collective; and (b) the right (which Agnico Eagle has no present intention of exercising) to nominate one person (and in the case of an increase in the size of the board of directors of Collective to eight or more directors, two persons) to the board of directors of Collective. On closing of the private placement, the investor rights agreement will be amended to increase the ownership interest ceiling in the participation right and top-up right described in (a) above from 9.99 per cetn to 14.99 per cent on a partially diluted basis to match Agnico Eagle's ownership level at closing.

Agnico Eagle is acquiring the common shares 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 Collective, or dispose of some or all of the common shares or other securities of Collective 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 Agnico Eagle, care of investor relations, 145 King St. E, Suite 400, Toronto, Ont., M5C 2Y7, telephone: 416-947-1212, e-mail: investor.relations@agnicoeagle.com.

Agnico Eagle's head office is located at 145 King St. E, Suite 400, Toronto, Ont. M5C 2Y7. Collective's head office is located at 82 Richmond St. E (fourth floor), Toronto, Ont., M5C 1P1.

About Agnico Eagle Mines Ltd.

Agnico Eagle is a Canadian-based-and-led senior gold mining company and the third-largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

We seek Safe Harbor.