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AGNICO-EAGLE RAISES ANNUAL DIVIDEND TO 10 CENTS (U.S.) FROM 7.5 CENTS (U.S.)

 TORONTO, Dec. 16 /PRNewswire/ -- Agnico-Eagle Mines Limited (NASDAQ-NMS: AEAGF) today has declared a dividend of 10 cents (U.S.) a share, payable May 25, 1993, to shareholders of record April 22, 1993, up from 7.5 cents (U.S.) a share paid a year earlier.
 "The one-third raise in the annual dividend signals a solid turnaround in the profitability of Agnico-Eagle,'' says Paul Penna, president. "A weakened Canadian dollar against its U.S. counterpart, has more than offset recent depressed bullion prices. Our cash operating costs are down significantly from earlier in the year."
 The May 25 payment will mark the 13th consecutive annual dividend by the Toronto-based gold producer, which has mines in northwestern Quebec. Although the payment is declared in U.S. funds, Agnico-Eagle reports financial results in Canadian currency.
 For the nine months ended Sept. 30, 1992, Agnico-Eagle reported net profit of $5.9 million or 21 cents a share, up 282 percent from a restated loss of $3.3 million or 12 cents a share a year earlier. Cash flow from operations rose 363 percent to almost $13 million.
 -0- 12/16/92
 /CONTACT: Paul Penna, president or Sean Boyd, treasurer, 416-947-1212, of Agnico-Eagle Mines Limited; or Paul Goldstein, (PGPR), 416-781-9498/
 (AEAGF)


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

WB -- NY030 -- 7628 12/16/92 10:38 EST
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Date:Dec 16, 1992
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