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AGNICO-EAGLE MINES LIMITED PROPOSED COMMON SHARE OFFERING

 TORONTO, June 3 /PRNewswire/ -- Agnico-Eagle Mines Limited (NASDAQ: AEAGF) today announced that it has filed a preliminary prospectus in the United States and in Canada under the Multijurisdictional Disclosure System relating to a proposed public offering of 4,250,000 of its common shares. The net proceeds from the sale of the common shares will be used to repay bank debt, to finance development and exploration projects and for other general corporate purposes.
 The offering is to be made in the United States through Merrill Lynch & Co. and Donaldson, Lufkin & Jenrette Securities Corporation and in certain provinces of Canada through Merrill Lynch Canada Inc. It is expected that the offering to the public will close by late June 1993.
 Agnico-Eagle is an established Canadian gold producer with 19 years of continuous gold production. The company's mining operations are located principally in northwestern Quebec, with exploration activities currently centered around its producing properties.
 A copy of the preliminary prospectus may be obtained in the United States from Merrill Lynch & Co. and, in Canada, from Merrill Lynch Canada Inc.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission in the United States but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective and a final prospectus is filed. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State or Province in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or Province.
 -0- 6/3/93
 /CONTACT: Paul Penna, chairman and president of Agnico-Eagle Mines Limited, 416-947-1212/
 (AEAGF)


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

TM -- NY115 -- 5233 06/03/93 18:08 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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