Agnico-Eagle receives $130,640,561 and issues 6,875,819 common shares on exercise of share purchase warrants

    Stock Symbol: AEM (NYSE and TSX)

    (All amounts expressed in US dollars unless otherwise noted)

    TORONTO, Nov. 20 /CNW/ - Agnico-Eagle Mines Limited ("Agnico-Eagle")
announced today that 6,875,819 share purchase warrants were exercised prior to
their expiry at 5:00 p.m. on November 14, 2007 for proceeds to Agnico-Eagle of
$130,640,561. The warrants were issued pursuant to a warrant indenture dated
November 14, 2002 with Computershare Trust Company of Canada. Each warrant
entitled the holder to purchase one common share of Agnico-Eagle for $19.00.
Agnico-Eagle issued 6,875,819 common shares upon the exercise of the warrants.

    About Agnico-Eagle

    Agnico-Eagle is a long established Canadian gold producer with operations
located in Quebec and exploration and development activities in Canada,
Finland, Mexico and the United States. Agnico-Eagle's LaRonde Mine is Canada's
largest gold deposit in terms of reserves. The Company has full exposure to
higher gold prices consistent with its policy of no forward gold sales. It has
paid a cash dividend for 25 consecutive years.

For further information:

For further information: David Smith, VP, Investor Relations, (416)

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