SEPTEMBER 2024 – NEWSLETTER

Agnico Eagle Mines is pleased to provide an update on our activities at the Upper Beaver Project in our September 2024 newsletter.

Agnico Eagle is a senior Canadian gold mining company with more than 65 years of experience, operating mines in Canada, Australia, Finland, and Mexico and employs more than 16,000 people worldwide.

UPPER BEAVER PROJECT COMMUNITY ENGAGEMENT

At Agnico Eagle, we firmly believe that community contributions play a pivotal role in shaping the design phase of the project. While certain components are guided by technical considerations, we recognize that other aspects can be adjusted to align with the unique dynamics of the project’s environment, and the concerns and needs of the local and surrounding communities.

We are pleased to share some highlights of our community engagement efforts in the last few months.

SPRING INFORMATION SESSION: A community information session on the Upper Beaver Project was held in the evening of May 8th. About 30 people attended in person at the Gauthier Community Hall in Dobie, and 11 more joined in online. The Agnico Eagle Team shared the latest information about the project, including details on the work that would take place during the advanced exploration phase. The goal of this phase is to confirm the feasibility of the project. This involves collecting bulk samples to assess mineral value, geological parameters and economic viability. Mitigation measures and monitoring programs planned for this phase were also presented. This covered issues such as noise, air quality, vibrations, road access and safety, water, wildlife, and changes to the physical landscape. The team also explained the process the company has put in place to address citizens’ concerns.

Agnico Eagle’s presentation was followed by a question-and-answer period. Participants were asked to contribute to community engagement activities and how general communication could be improved. You’ll find a full report of the meeting, including a summary of participants’ questions and comments here: AEM, May 8, 2024 – AEM Upper Beaver Project Info Session Summary Report.

SUMMER COMMUNITY BBQ: On Saturday, July 27th, Agnico Eagle held a community BBQ at the Dobie Arena. It was an opportunity for the Upper Beaver Project team to connect with members of the community, provide updates on the project and gather feedback. An activity area for children was set up outside the arena, and hamburgers, hot dogs and other refreshments were served throughout the day.

Inside the arena, participants were encouraged to approach six different booths to learn about various aspects of the Upper Beaver Project and share their thoughts. Topics included ongoing and upcoming site activities, noise and noise monitoring, the use of navigable waters within the area, ideas for offsetting fish and fish habitat loss, and the creation of an advisory committee for the project. You can read more about this event here: July 27, 2024 Upper Beaver Project Community BBQ Report

May 8th Information Session and July 27 BBQ Event in Dobie.

COMING UP NEXT– CREATING AN ADVISORY COMMITTEE: 

Agnico Eagle is looking to assemble an advisory committee for the Upper Beaver Project. It would be a forum to share information and foster dialogue between its members and the Agnico Eagle team as the project evolves. It’s a place where issues can be discussed as they come up and problems solved collaboratively. The committee would also follow the complaint management process and how the permitting is going.

The committee would meet 3 to 4 times a year, and include representatives from:

•    Local Indigenous Nations
•    Citizens from neighbouring communities (such as Dobie, Beaverhouse Lake, Larder Lake, and Kirkland Lake)
•    Environmental groups, community organizations, employment and training programs
•    Agnico Eagle representatives

A public meeting will be held to create the committee. Details about this meeting will follow. In the meantime, if you have questions about how the committee would function and what kind of commitment would be required, you’ll probably find the answer in our “Frequently Asked Questions” document. If interested in joining the committee, please fill out this form.

STAY TUNED: We regularly update our communication channels with information on our upcoming events. If you are not already receiving emails from us, you can sign up for our email alerts here: Contact Us – Upper Beaver Project – Agnico Eagle Mines Ltd.

UPPER BEAVER PROJECT UPDATE:

PROJECT OVERVIEW

The Company is currently evaluating opportunities to develop, operate and eventually reclaim an underground and open pit, gold-copper mine, processing facility and related infrastructure at the Upper Beaver Project site. Upper Beaver is part of Agnico Eagle’s Kirkland Lake camp, and is located approximately 5 km northeast of Dobie, Ontario. The proposed mine would be built on the site of a former producing mine, expanding on its historical underground workings. The Upper Beaver Project is now moving into the Advanced Exploration phase.

ADVANCED EXPLORATION – LATEST NEWS

As you may have heard, Agnico Eagle has approved moving into the Advanced Exploration Phase at the Upper Beaver Project. All required permits, closure plan and financial assurances have been completed and filed with provincial authorities so this phase can commence.

In the Advanced Exploration Phase, we’ll build an exploration ramp and shaft to establish underground drilling platforms and collect bulk samples. The bulk samples will be taken from the two most representative geological zones of the Upper Beaver deposit. The goal will be to test certain mining assumptions about the deposit, validate mining parameters and grade variability at a greater depth. The existing Beaverhouse Road will be used to access the Project. Public access to Beaverhouse Lake will be maintained and safety precautions are already in place. We are still assessing the possibility of implementing an alternate access road to Beaverhouse Lake for the public via Fork Lake Road.

3D View of the Advanced Exploration Planned Facilities.

UPDATE ON SITE ACTIVITIES

Activities on site have increased in preparation for the Advanced Exploration phase, this includes the construction of shaft and hoist foundations, and permanent water management facilities.

Shaft Pre-Sinking and Foundations Work

Pre-sinking of the exploration shaft has been completed. This included blasting and removing rock within the first meters of the shaft collar.

Headframe Collar – Concrete Cure.

Foundation work for the headframe and hoist room area began in July and is ongoing. This work requires hauling of concrete via Beaverhouse road, and at times slows down traffic.

Access Roads

The upgrades to Beaverhouse road resumed in August and included surface blasting of outcrops at some locations. Temporary road closures are being implemented to ensure everyone’s safety. Work on ditches and culverts along the road is also ongoing.

The paving work at the McBean entrance off Highway 66 has been completed. This will decrease the tracking of debris onto the highway. This entrance is used by Agnico Eagle’s employees and various contractors. In areas where the roads are not being upgraded, dust suppression measures continue via the addition of calcium or water.

Power Line

•    Maintenance work on the existing 44kV power line has been completed as well as fiber optic installation from Upper Canada site to Upper Beaver site.
•    Installation of the electrical substation is almost finished at site and electrical hook up from Hydro One is expected by the end of September or early October.

Aggregate material 

•    The construction of pads and roads at the site is progressing well, and the team is now working on the construction of ponds that will be used for water management during site operations.
•    To support road upgrades and construction at site, there is still extraction of material from the aggregate pit located northeast of the Upper Beaver site.
•    Due to unforeseen challenges with the quality of aggregate material within the aggregate pit, Agnico Eagle has begun using other aggregate sources as well as the use of a screener (a machine that separates the material according to size). This began in July of this year and is now complete.
•    A crusher was also brought onto the Upper Beaver site in July. The crusher activities are now completed, and the equipment has been removed.

Cohabitation with neighbours

Before initiating site activities, Agnico Eagle completed noise modelling to confirm that actions would meet the targeted noise limits and established potential measures to minimize sound. As an example, the work schedule and the location of some equipment has been adjusted to reduce noise. The mitigation measures were developed and adapted to the temporary nature of the work and their changing locations.

Overall, the noise target limits have been met for almost all operating hours to date, but activities are nonetheless audible to our neighbours and have led to a change in the sound environment.

Agnico Eagle has received a few complaints regarding noise and works continuously to leverage best practices and we remain confident that the ambient noise will diminish once earth work is completed and regular operations begin.

PRODUCTION PHASE STUDIES

Field Investigation 

A geotechnical and geophysical investigation has been conducted within the Upper Beaver site, as well as some locations south and north of Ava Lake and east of the Misema River to better understand the type of soil and confirm bedrock depth. This work will support detailed engineering designs for dykes, channels, storage areas, and mine infrastructure.

Mill on Site

Over the last months, Agnico Eagle has conduct technical reviews to assess different options for processing the ore from the Upper Beaver deposit. Agnico Eagle recently decided to resume the impact statement preparation, using the option of an on-site mill. Once the impact statement is sufficiently advanced, Agnico Eagle plans to provide an update on the project development and present the preliminary results of the impact assessment to the community.  This will be another opportunity for the community to share feedback on the potential effects of the project and potential mitigation measures.

EXPLORATION ACTIVITIES

Field work is advancing well across the Kirkland Lake regional properties with emphasis on areas immediately adjacent to the current Upper Beaver deposit including soil sampling, mapping, and stripping.  A regional-scale helicopter magnetotelluric geophysics survey, which includes the Upper Beaver area, is now complete. This spans across the entirety of the Kirkland Lake property and aims to map structures at depth.  Permits for stripping have been filed for the Upper Beaver Southeast area and work has recently begun.