AGNICO EAGLE ANNOUNCES FINANCING AND STRATEGIC ALLIANCE WITH CASCADIA MINERALS LTD.

Rhea-AI Summary

Agnico Eagle (NYSE: AEM) agreed to buy 29,315,300 common shares and 14,657,650 warrants of Cascadia Minerals (TSXV: CAM) via a C$5.022M private placement plus C$2.6M unit purchases, representing ~14.21% non-diluted ownership (about 19.90% partially diluted) on closing expected on or about April 17, 2026.

The parties also signed a Catch earn-in agreement (Agnico can earn 51% in the Yukon Catch property) and a three-year Strategic Alliance funding generative exploration across the Stikine Terrane.

Positive

• AEM to hold 29,315,300 Cascadia shares on closing
• AEM to hold 14,657,650 Cascadia warrants on closing
• Stake equals ~14.21% non-diluted ownership
• Right to earn 51% interest in Catch property
• Three-year strategic alliance funding generative exploration
• Investor rights allow up to 19.99% ownership and board nomination

Negative

• Total cash consideration C$7,621,978 for unit purchases
• Transactions subject to TSX Venture Exchange approval
• Warrants could increase Cascadia dilution on exercise

Key Figures

Private placement units: 19,315,300 Units at C$0.26 Private placement total: C$5,021,978 Secondary unit purchase: 10,000,000 Units at C$0.26 +5 more

8 metrics

Private placement units 19,315,300 Units at C$0.26 Cascadia Minerals non-brokered private placement

Private placement total C$5,021,978 Consideration for 19,315,300 Cascadia Units

Secondary unit purchase 10,000,000 Units at C$0.26 Unit Purchases from Cascadia flow-through participants

Secondary purchase total C$2,600,000 Consideration for 10,000,000 Cascadia Units

Warrant exercise price $0.32 per share Cascadia Warrants, exercisable for two years

Post-closing shares 29,315,300 Common Shares AEM ownership in Cascadia on closing

Post-closing warrants 14,657,650 Warrants AEM warrant position in Cascadia on closing

Ownership levels 14.21% non-diluted; 19.90% partially-diluted AEM stake in Cascadia after financing and Unit Purchases

Market Reality Check

Price: $192.54 Vol: Volume 2,492,020 is below...

normal vol

$192.54 Last Close

Volume Volume 2,492,020 is below the 20-day average of 3,192,019, indicating no outsized trading spike. normal

Technical Price at 192.545 is trading above the 200-day MA of 167.16, reflecting an established uptrend before this deal.

Peers on Argus

AEM’s gain of 3.11% comes alongside strength in major gold peers: NEM +3.33%, WP...

AEM’s gain of 3.11% comes alongside strength in major gold peers: NEM +3.33%, WPM , B +3.59%, FNV +2.49%, KGC +3.79%, indicating a sector tailwind alongside the partnership news.

Previous Partnership Reports

1 past event · Latest: Aug 19 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Aug 19	Strategic partnership	Positive	+1.1%	Partnership and asset deal on large copper-cobalt-zinc project.

Pattern Detected

Available partnership-tagged history shows a modest positive move following strategic agreements, consistent with today’s constructive reaction.

Recent Company History

Recent partnership-tagged history shows one prior event on Aug 19 (news_id 737026) where a strategic project partnership led to a 1.05% move. That deal involved a multi-asset exploration partnership and a mix of cash and shares. Today’s Cascadia financing, earn-in, and strategic alliance similarly expand AEM’s pipeline of prospective exploration projects, suggesting a continued use of minority stakes and joint ventures to access geological upside.

Historical Comparison

+1.1% avg move · In past partnership-tagged news, the average 1-day move was about 1.05%. Today’s strategic financing...

partnership

+1.1%

Average Historical Move partnership

In past partnership-tagged news, the average 1-day move was about 1.05%. Today’s strategic financing and earn-in alliance with Cascadia sits above that historical response, but remains within a moderate reaction range.

The partnership history points to a consistent strategy of using alliances and earn-in structures to access exploration upside while sharing project risk.

Market Pulse Summary

This announcement combines a financing, strategic equity stake, and multi-stage earn-in and alliance...

Analysis

This announcement combines a financing, strategic equity stake, and multi-stage earn-in and alliance framework with Cascadia. Agnico Eagle commits over C$7.6 million across placements and unit purchases and can reach up to 19.99% ownership, alongside rights to earn majority interests in the Catch property and other designated projects. Investors may watch execution on exploration programs, TSX Venture Exchange approvals, and how these positions complement Agnico Eagle’s broader reserve and growth profile.

Key Terms

non-brokered private placement, common share purchase warrant, flow-through Units, earn-in agreement, +2 more

6 terms

non-brokered private placement financial

"for total consideration of C$5,021,978 under a non-brokered private placement"

A non-brokered private placement is when a company raises money by selling securities (such as shares or bonds) directly to a small group of chosen investors without using a broker or dealer as a middleman. For investors it matters because it can provide faster, lower-cost access to new investment opportunities but may bring higher risk, less liquidity and potential dilution of existing holdings compared with public offerings.

common share purchase warrant financial

"one-half of one common share purchase warrant of Cascadia"

A common share purchase warrant is a tradable contract that gives its holder the right, but not the obligation, to buy a company’s common stock at a specified price within a set period. Think of it like a coupon for future shares: if the stock rises above the coupon price it can boost returns for the holder, but when used it increases the number of outstanding shares and can reduce each existing shareholder’s ownership and affect the company’s cash position.

flow-through Units financial

"sellers that will be participating in an offering of flow-through Units by Cascadia"

Flow-through units are a type of security issued by natural-resource companies that bundles an equity stake with the right to claim certain tax deductions tied to the issuer’s exploration or development spending. For investors, they act like buying a share plus a coupon that lowers your taxable income, which can make the investment cheaper after tax but also ties returns to risky, early-stage projects and to changes in tax rules or commodity fortunes. Investors care because flow-through units change the after-tax value, dilution and risk profile of owning the company.

earn-in agreement financial

"entered into an earn-in agreement (the "Catch Earn-In Agreement")"

An earn-in agreement is a contract where one company gradually gains ownership in a project or business by meeting agreed milestones, usually through funding, completing work, or making payments. It matters to investors because it spreads risk and cost over time, like paying for a car in installments only if it runs as promised, and signals future ownership shifts and potential dilution or value creation for current shareholders.

joint venture agreement financial

"will enter into a joint venture agreement (the "Catch Joint Venture Agreement")"

A joint venture agreement is a legally binding contract where two or more parties combine resources to run a specific business project or entity, spelling out who contributes what, how decisions are made, how profits and losses are shared, and how the venture can end. Investors care because the agreement determines control, financial exposure, potential returns, and exit options—much like a clear housemate contract that prevents disputes over money, chores, and belongings.

strategic alliance agreement financial

"entered into a strategic alliance agreement (the "Strategic Alliance Agreement")"

A strategic alliance agreement is a formal deal between two or more companies to work together on specific goals—such as developing a product, entering a new market, or sharing technology—while each partner remains independent. Investors care because these partnerships can accelerate growth, spread costs and risks, and create new revenue opportunities; like two neighbors pooling tools and labor to build a shared workshop faster and cheaper than doing it alone.

AI-generated analysis. Not financial advice.

Stock Symbol:  AEM (NYSE and TSX)

TORONTO, March 30, 2026 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") announced today that it has agreed to purchase 19,315,300 units ("Units") of Cascadia Minerals Ltd. (TSXV: CAM) ("Cascadia") at a price of C$0.26 per Unit for total consideration of C$5,021,978 under a non-brokered private placement (the "Private Placement"). Each Unit is comprised of one common share of Cascadia (a "Common Share") and one-half of one common share purchase warrant of Cascadia (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.32 for a period of two years following the date of issuance.

Agnico Eagle has also agreed to acquire 10,000,000 Units at a price of C$0.26 per Unit (the "Unit Purchases") for total consideration of C$2,600,000 from several sellers that will be participating in an offering of flow-through Units by Cascadia immediately prior to the Unit Purchases.

The Private Placement and the Unit Purchases are subject to certain closing conditions, including approval of the TSX Venture Exchange, and are expected to close on or about April 17, 2026.

Agnico Eagle does not currently own any Common Shares or Warrants. On closing of the Private Placement and the Unit Purchases, Agnico Eagle is expected to own 29,315,300 Common Shares and 14,657,650 Warrants, representing approximately 14.21% of the issued and outstanding Common Shares on a non-diluted basis and approximately 19.90% of the Common Shares on a partially-diluted basis (assuming exercise of the Warrants held by Agnico Eagle at such time).

On closing of the Private Placement and the Unit Purchases, Agnico Eagle and Cascadia will enter into an investor rights agreement, pursuant to which Agnico Eagle will be entitled to certain rights, provided it maintains certain ownership thresholds in Cascadia, including: (a) the right to participate in equity financings or top-up its holdings in relation to dilutive issuances in order to maintain its pro rata ownership in Cascadia or acquire up to a 19.99% ownership interest in Cascadia, in each case, at the time of such financing or dilutive issuance; 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 Cascadia to eight or more directors, two persons) to the board of directors of Cascadia.

Agnico Eagle is acquiring the Common Shares and Warrants as part of its strategy of acquiring strategic positions in prospective opportunities with high geological potential. Depending on market conditions, strategic priorities and other factors, Agnico Eagle may, from time to time, acquire additional Common Shares, Warrants or other securities of Cascadia or dispose of some or all of the Common Shares, Warrants or other securities of Cascadia that it owns at such time.

On March 30, 2026, Agnico Eagle and Cascadia also entered into an earn-in agreement (the "Catch Earn-In Agreement"), pursuant to which Cascadia granted Agnico Eagle the right to earn a 51% interest in the Catch property owned by Cascadia located in Yukon (the "Catch Property"). Upon Agnico Eagle earning a 51% interest in the Catch Property, Agnico Eagle and Cascadia will enter into a joint venture agreement (the "Catch Joint Venture Agreement") governing the relationship of the parties in respect of the Catch Property, pursuant to which Cascadia will be the operator of the project and Agnico Eagle will have the right to earn an additional 29% interest in the Catch Property. The exercise of Agnico Eagle's right to earn an interest in the Catch Property is subject to the acceptance of the TSX Venture Exchange.

Concurrently with the execution of the Catch Earn-In Agreement, Agnico Eagle and Cascadia entered into a strategic alliance agreement (the "Strategic Alliance Agreement") pursuant to which the parties established a strategic alliance for the identification and advancement of projects within the Stikine Terrane in Yukon (the "Alliance Area"). Under the Strategic Alliance Agreement, Agnico Eagle will provide funding over an initial three-year period for generative exploration work performed by Cascadia, as operator, within the Alliance Area. Projects within the Alliance Area may be designated (each such project, a "Designated Project") for further exploration under an earn-in agreement, pursuant to which Agnico Eagle will have the right to earn a 51% interest in the Designated Project. If Agnico Eagle earns a 51% interest in a Designated Project, Agnico Eagle and Cascadia will enter into a joint venture agreement governing the relationship of the parties in respect of the Designated Project and containing terms substantially similar to the terms of the Catch Joint Venture Agreement. The exercise of Agnico Eagle's right to earn an interest in a Designated Project is subject to, among other things, the acceptance of the TSX Venture Exchange.

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 Mines Limited
c/o Investor Relations
145 King Street East, Suite 400
Toronto, Ontario M5C 2Y7
Telephone: 416-947-1212
Email: investor.relations@agnicoeagle.com

Agnico Eagle's head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. Cascadia's head office is located at 1500-409 Granville Street, Vancouver, British Columbia V6C 1T2.

About Agnico Eagle

Canadian-based and led, Agnico Eagle is Canada's largest mining company and the second largest gold producer in the world, operating mines in Canada, Australia, Finland and Mexico. The Company is advancing a pipeline of high-quality development projects in these regions to support sustainable growth over the next decade. 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.

Forward-Looking Statements

The information in this news release has been prepared as at March 30, 2026. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "may", "will" or similar terms.

Forward-looking statements in this news release include, without limitation, statements relating to the expected closing date of the Private Placement and the Unit Purchases, Agnico Eagle's expected ownership interest in Cascadia upon closing of the Private Placement and the Unit Purchases, Agnico Eagle's acquisition or disposition of securities of Cascadia in the future, any future interest that Agnico Eagle may earn or acquire in the Catch Property or a Designated Project, and in connection therewith, the entering into of a joint venture agreement between Agnico Eagle and Cascadia.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/agnico-eagle-announces-financing-and-strategic-alliance-with-cascadia-minerals-ltd-302728560.html

SOURCE Agnico Eagle Mines Limited

FAQ

What stake will Agnico Eagle (AEM) hold in Cascadia after the April 2026 closings?

Agnico Eagle will hold approximately 14.21% of Cascadia on a non-diluted basis. According to Agnico Eagle, on closing it expects 29,315,300 Common Shares and 14,657,650 Warrants, equal to roughly 19.90% on a partially-diluted basis.

How much is Agnico Eagle (AEM) investing in Cascadia Minerals in March 2026?

Agnico Eagle is committing C$7,621,978 in total consideration for units. According to Agnico Eagle, C$5,021,978 is for the private placement and C$2,600,000 for unit purchases from third-party sellers.

What are Agnico Eagle's rights under the investor rights agreement with Cascadia (AEM/CAM)?

Agnico Eagle gains participation and top-up rights and limited board nomination rights. According to Agnico Eagle, it can maintain pro rata ownership up to 19.99% and may nominate one director (two if board expands).

What does the Catch earn-in mean for Agnico Eagle (AEM) and Cascadia's Yukon project?

Agnico Eagle can earn a 51% interest in the Catch property by meeting earn-in terms. According to Agnico Eagle, upon earning 51% the parties will form a joint venture with Cascadia as operator and further earn-in options available.

When will the Cascadia transactions with Agnico Eagle (AEM) close and what approvals are required?

The transactions are expected to close on or about April 17, 2026, subject to exchange approval. According to Agnico Eagle, closing conditions include TSX Venture Exchange acceptance and other customary conditions.