Good morning everybody. We're prepared to begin. Ladies and gentlemen, welcome to the Annual and Special Meeting of Shareholders of Agnico-Eagle Mines Limited. My name is Jim Nasso, I'm the Chairman of the Board. [Foreign language]. We'd like to follow our customer, reach the various people in the jurisdictions in which we serve in the respective languages and that will be Finnish, Swedish, Spanish, and Autuktuq (ph). So Pertti Voutilainen, director from Finland who will do it in Swedish and Finnish.

[Foreign Language]

Thank you Pertti. Tim Haldane in Spanish.

[Foreign language].

Thank you, Tim. And we are honored to have you this morning,, the MLA from Baker Lake, Moses Aupaluktuq and he will do the greeting in autuktuq.

[Foreign Language]

Thank you Moses. We will proceed with the formalities which we usually do each year. We'll make them as brief as we possibly can. I think we've dealt this morning and we'll deal with that as we go along. The word-to-word accordance with advice we get from the General Counsel, Mr. Laing, I will begin, in accordance with the by-laws of the Corporation, I will preside as Chairman of this meeting. Mr. Greg Liang, General Counsel, Senior Vice President, Legal and Corporate Secretary of the Corporation will act as Secretary of the meeting. And with the consent of the meeting, Shirley Yuen and Irene Zelma of Computershare Trust Company of Canada, the Corporation's registrar and transfer agents will act as scrutineers. Shirley, could you please stand, so you will be known where you are -- known to the folks when you pass over the ballots wherever you are. Okay. There, she is back there. Okay, thank you. Before we begin the meeting, I would like to introduce the head table, my fellow directors. The head table and my fellow directors. With me at the head table is Sean Boyd, our Chief Executive Officer, Eb Scherkus, President and Chief Operating Officer and Director of the Corporation, not as the Director as well by the way, and Greg Liang, General Counsel Senior Vice President, Legal and Corporate Secretary. Now, my fellow directors that are sitting at the table here, beginning with -- and would you kindly stand as I call your name, Dr. Lian Becker, Cliff Davis, David Garofalo who is also our Senior Vice President of Finance and Chief Financial Officer and by the way the Chief Financial, the top CFO in all of Canada as was acknowledged by The Caldwell Partners, that large general we had the other day. Congratulations…

(inaudible) moving the amendment to the Corporation's stock option plan as set out in Appendix B to the management proxy circular dated March 25, 2009 approved.

Is there a secondary of the motion please? It is necessary to vote by ballots unless resolution. And I therefore direct that a ballot be taken. Like all of those its like the relations of those shareholders who have name here as a proxy. I would ask right distributor shareholders and proxy holders to identify themselves by raising their hands and direct the scrutineers, and entitled to vote. And we'll just take a minute to get a little organized and that we'll carry on. Shirley could you please distribute the ballots and would you indicate whether you're shareholders or not by raising your hand and she will present with you with a ballet. And we'll carry on and we'll take the vote later. Election of Directors, the next item of business is election of directors. All registered shareholders and proxy holders have been provided with the ballots for use in this motion. You should record your vote in respect of this motion by marking an X or a dot, in the box entitled for the motion or against the motion as the case may be. And by signing and printing your name in the space as indicated on the ballot. Once you have completed your ballot would you kindly hold it in the air for the scrutineers to collect. While the ballots are being collected and tabulated, we will continue with the formal part of the meeting which and we'll announce the results in a few minutes. Election of directors is the next item on the agenda. Is the election of directors for the Corporation, articles of the Corporation to provide for minimum of five and maximum of 12 Board of Directors are determined that the total number of directors to be elected at this meeting is 12. I now declare the meeting open for nominations. May I have, nominations please?

Mr. Chairman, I would like to nominate as Directors of the Agnico-Eagle Mines Limited, Dr. Leanne Baker, Douglas R. Beaumont, Sean Boyd, Cliff Davis, David Garofalo, Bernard Kraft, Mel Leiderman, James Nasso, Merfyn Roberts, E Scherkus, Howard Stockford, Pertti Voutilainen all these names are in the management proxy circular. I move that they be elected Directors of the Corporation to hold office until the next annual shareholders meeting following this meeting or until there are respective successors are elected or appointed.

Thank you. May I have a second motion? Thank you. Are there any further nominations? As there are not further nominations, I declare the nominations closed. The number of nominees is the same as the number of vacant positions available to be filled and I now declare that those persons nominated have been duly elected by acclimation as Directors of Agnico-Eagle Mines Limited. Under the directors, under the Board of Directors majority, voting policy in an uncontested election directors any nominee that receives a greater number of votes, withheld in votes or election will tender his or her resignation as the Chairman following the meeting. The scrutineers have advised me the proxies we received from the holders with a sufficient number of shares and each of the nominees for Director received -- receive more votes for and the possible numbers of votes withheld and accordingly none of the directors will be required to tender his or her resignation under the majority voting policy. Appointment of the Auditors. The next item of business is the appointment of Auditors of Agnico-Eagle Mines for the current year. It is proposed that Ernst & Young, Belgacom, be appointed as the Auditors of the Corporation to hold office until the next annual meeting of shareholders of the Corporation, or until the successors' employment and that under remuneration be fixed by the Board of directors of the Corporation. May I have an appropriate motion? May I have a second to the motion? Thank you. You have heard the motion which has been seconded. Is there any discussion? As a result of discussion, I'll now ask the meeting, if it is ready to vote on the motion. All those in favor, please signify by raising your hand. Are there, if any. Motion taken care of. Amendments -- the item next item of amendment to the employee share purchase plan. The next item of flow of business to consider at this meeting is the approval of an amendment of the Corporation's employee share purchase plan as more fully described on pages 9 and 10 of the Appendix B the management proxy circular. May I have an appropriate motion please?

Employee share purchase plan as set out in appendix B to the management proxy circular dated March 25, 2009 approved.

Do I have a second to that motion?

I second the motion.

Thank you, Howard. You've heard the motion which has been seconded. Is there any discussion? As there is no discussion, now I'll ask the meeting if it is ready to vote on the motion. All those in favor please signify by raising your hand. Votes contrived and both hands for the motion. Amendment to the bylaws, the next item of quorum of business considered at this meeting, a confirmation of an amendment of the Corporation's bylaws as more fully described in pages 11 and 12 and in appendix after the management proxy circular. May I have an appropriate motion?

I move that the resolution confirming the amendment to the Corporation's bylaws as set out in appendix after the management proxy circular dated March 25, 2009 confirmed.

Do I have a second to that motion? You've heard the motion which has been seconded, is there any discussion? As there's no discussion, I will now ask the meeting if it is ready to vote on the motion. And those in favor, please signify by raising your hand. Contrary if any, I declare the motion carried. With respect to the ballots conducted earlier (inaudible) that the resolution relating to the amendment to the stock option plan has been duly heard by a majority of the vote cast accordingly. I declare the resolution carried. Any shareholders interested in the exact number of votes cast in favor of or against the resolution, he or she may obtain particulars after the meeting by contacting the Secretary. At this point, I would like to terminate the meeting. Is there any further business? If there is, I might ask for a termination. May I have a motion please?

I strongly move.

May I have a seconder? All those in favor of the resolution, please signify by raising your hand. Contrary? Motion carried. I declare that the formal portion of this meeting is now terminated. Before we move to the presentation of management. We have something that we've instituted a couple of years ago, and this is the Paul Penna Award and this is the second year, as I said for the posthumously service, Mr. Penna was the founder of Agnico-Eagle Mines. Without Mr. Penna's great courage and all his efforts, we wouldn't be here today. And this is his honor and he was well noted for his philosophy and concern for the well being of his employees and the betterment of the communities in which we operate. And by the way, that's a large part of our lives -- speak to that later. The Paul Penna Award is awarded to Agnico-Eagle employees who best exemplifies the philosophies of our founder, Paul Penna. With community involvement dedication and hard work Paul Penna left an enormous impact on the communities he was part of and helped change the lives of many people one person at a time. This award has been established to ensure that his values continue and play a major part in the identity of Agnico-Eagle as a company as well as allow legacy of Paul -- Mr. Penna who will live long through the positive initiatives laid forward by our employees. We have this winners of the Second Annual Paul Penna award, they are in alphabetical order. And could you please Allan Morris, and Franswaka Petrucci (ph) better known as Franceso. Where are they? Thank you. I'll call you forward a minute. Allan Morris has continued proven that he is the true ambassador for the Agnico-Eagle Company culture, and Paul…

The second recipient of this award, France Petrucci, resident of Rwanda, an employee Agnico-Eagle since 2005 is currently the engineering discipline leader in the technical services division based in the Abu Dhabi. Since 200, Francesco has been a member of the resources action parents, established by Ruwa Rwanda who commissioned to set up conferences related to the art of being a parent. Mr. Petrucci gives conferences through Abu Dhabi school district on this topic. In 2005, Francesco became a member of the Quorum on Soybean (inaudible) and was a key organizing member for its 25th anniversary 2008. According to the President of the Quorum on Soybean (ph) Francesco played a major role in the organization of its 25th anniversary event. He was praised for the fact that he has super motivated, worked very hard and has great people skills. Francesco is noted for always giving his best in the accomplishment of his work. Francesco is also involved with various school committees and was member of the council of establishment of (inaudible) between the years 2002 and 2005. Francesco was the President of the Rwanda School of Judo. Francesco is now offering his knowledge to the students of mining technique at the (inaudible) at the request of Agnico-Eagle as there has been a shortage of professors. Both Allan and Francesco fully exemplify the Paul Penna spirit of giving and paying for the less fortunate in their communities in instilling excitement for the industry and has supported in throughout their respective careers, and as supporters on advocacy for education and to expand this. And Francesco would you come forward to accept the reward? [Foreign Language]

Thank you. I will prefer a half an hour speech here but -- just a quick message for Jim here. A few years ago when he came on Board, not long too, was my girlfriend's birthday, and the time he offered her a flower. So thank you very much. Today it's my older son is getting 18 years old. It's going cost you a lot more today I guess.

And here comes the best and the interesting part of the meeting. There are some remarks from our fabulous Chief Executive Office, Mr. Boyd.

Greg wants me to do the Safe Harbor. Greg is up here to keep us out of trouble due to Safe Harbor. We'll get to the Safe Harbor in a minute. Just after this slide. But I wanted to welcome everybody this is -- we were thinking back and before I joined Agnico in 1985 I was an Auditor with Clarks and Gordon who worked on the Eagle account. So this is my 27th Annual Meeting. So time certainly flies, and we see some people that were there as well back 27 years ago. So this company is all about sort of culture, how we treat people and how we go about building mines and that hasn't changed over many, many years and Jim made reference to it of the Paul Penna Award. Paul Penna used to live in this hotel. And this was center of action for his mining endeavors for many, many years. So it's appropriate that we continue to give out an award in honor of Paul's memory and Paul's spirit. And as Jim said, without Paul and his guidance we wouldn't be here. And we will talk about that in a minute when we sort of give you a sense of our strategy and what we are trying to do. But today we certainly want to talk about strategy, we want to talk about our projects, want to talk about the good things. We want to talk about things that are presenting some challenges for us that we will fix and get over to need to move on. The major message is that the big picture is very much intact, scope is very intact. And in this industry which the industry is finding it difficult to grow it's really about growth and it's about quality growth…

Thanks very much Sean. Are there any questions? Hassle has the microphone, just raise your hand and he will provide you with microphone, there you go. Hassle, there is a gentleman here.

Hi, my name is Paul Durant. I had -- went to the Barrack meeting yesterday and their production fell each year '06, '07, '08 and yours will double in '09 and '10. How soon is your bigger mine than them?

We're bigger and executed right now.

Whole question, want to a bigger than -- we are in good niche or perfect niche, I think it is going steadily I think that's one of the challenges when you get too big in this industry. Nature has just not left enough good deposits out there. We continue to grow 5 to 8 million ounce annual production of gold. So, we're fortunate to be in the right position. Our focus has never been to get caught up in a race that's always been focused on -- work within our skill set, our abilities, focus more.

Okay. Just one more quick question and then I'll pass the mic. I see that the cash cost per ounce has gone up from the negative number up to quite high. What percent of that increase is due to collapsing zinc, copper and the other metal prices? I'm sure a component of that is in there, in the new price?

I'll just make a comment maybe Ebe wants to make a comment. I would say almost all of it, because if you look at our cost per ton performance at LaRonde, it's been very steady, we are right on target, increased a little bit each year due to leases and pitch rates (ph) but cost performance on (inaudible)... so really on a per ounce basis, getting the impact of foreign exchange and things, those two key variables is biggest difference.

Okay. Zinc, copper and nickel, all three, you don't have any nickel, do you?

No, we don't. We were online and also the Goldex line, when those line operate at 7200 tons and achieve their cost targets of $25 a ton at Goldex and $72 a ton at LaRonde. They both make a lot of money for us. And LaRonde is proving for the last six years. It has been a consistent performer. And as Sean mentioned earlier, last year this time we were in the commissioning phase and then 10 months later Goldex is now running at steady state and that's also what we expect to happen at our other operations.

Any other questions?

The question is short and simple. Are you planning to have a stock split on the road?

What?

Stock split.

Our plans for stock split. Any thing else, any one else?

Okay, I guess that closes the floor to questions. As Sean mentioned I just want to speak briefly and it won't be long to share some of our experiences, we as a Board have had when we founded the various regions. We're great mine builders, or mine finders, mine builders and great mine operators. And is that, we've dealt with numbers for so many days now. I want to touch on the human side of what we see and what we do. And I'll set a few examples. In Mexico, we have approximately 1800 people on site, maybe as many as 1100 and 60% of those employees come from the founding people. They are heroes that are presently there. We make our strong efforts to hire people that are in the particular jurisdiction which we work. I ask Tim Haldane, we've heard from earlier, our Senior Vice President of Latin America, said Tim, when I get down, I would like to take a trip with one of those large mining trucks having been on old construction worker, I would like to take it to a tour, all these 100 ton mine truck. So I met the boss, and I met the driver. And the driver was a young lady, even the truck loader, the young lady from Mexico, who by the way, ladies are better drivers than men, because they are easier on the equipment. But at any way, in our conversation, here is the single mother of 4, 32 years old, never really had a job and she had children from 16 to age 6. And now she has a steady job. She's in the throes of building a house for her family and this is some of the things we see. Right down at the camp we built,…