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GOLDEX MINES LIMITED AND AGNICO-EAGLE MINES LIMITED ANNOUNCE SHAREHOLDER APPROVAL OF AMALGAMATION OF GOLDEX WITH AGNICO-EAGLE SUBSIDIARY

 TORONTO, Dec. 7 /PRNewswire/ -- Goldex Mines Limited ("Goldex") and Agnico-Eagle Mines Limited ("Agnico-Eagle") (NASDAQ-NMS: AEAGF) jointly announced that the shareholders of Goldex approved the amalgamation of Goldex with a wholly-owned subsidiary of Agnico-Eagle at a special meeting held earlier today. As a result of the amalgamation, Agnico- Eagle will acquire the remaining 46.3 per cent interest in Goldex not already owned by it and shareholders other than Agnico-Eagle will receive 0.36 of a common share of Agnico-Eagle in exchange for each common share of Goldex.
 The effective date of the amalgamation is expected to be Dec. 8, 1993. To receive new share certificates representing the Agnico-Eagle shares, shareholders must send their Goldex common share certificates to Montreal Trust Company of Canada, as described in Goldex's management information circular dated Nov. 5, 1993.
 The purpose of the amalgamation is to facilitate the exploration, development and financing of the Goldex Extension Property which is located near Val D'Or, Quebec. Agnico-Eagle plans to commence an extensive underground exploration and development program on this property in January 1994.
 -0- 12/7/93
 /CONTACT: Paul Penna, president, Agnico-Eagle Mines Limited, Goldex Mines Limited, 416-947-1212/
 (AEAGF)


CO: Goldex Mines Limited; Agnico-Eagle Mines Limited ST: Ontario IN: MNG SU:

MP -- NY058 -- 1302 12/07/93 12:56 EST
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Publication:PR Newswire
Date:Dec 7, 1993
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