New 1 km Zone of Gold Mineralisation Found from RC Drilling at Rockland

The Premium Money Provide

The provide worth of $1.67 per Widespread Share represents a premium of 57% to the quantity weighted common worth of the Widespread Shares on the TSX Enterprise Change for the 20-day interval ended December 11, 2024 (the final buying and selling day previous to announcement of the Provide).

O3 Mining’s major asset is its 100%-owned Marban Alliance property situated close to Val d’Or , within the Abitibi area of Québec, and is adjoining to Agnico Eagle’s Canadian Malartic complicated. The Marban Alliance property consists of the Marban deposit, which is a sophisticated exploration mission that would assist an open pit mining operation much like Agnico Eagle’s Barnat open pit operations on the Canadian Malartic complicated. O3 Mining has estimated that the Marban pit  comprises 52.4 million tonnes of indicated mineral sources grading 1.03 g/t gold for 1.7 million ounces of gold and 1.0 million tonnes of inferred mineral sources grading 0.97 g/t gold for 32 thousand ounces of gold (efficient date of February 27, 2022 ). O3 Mining additionally owns 100% of the Alpha property and 100% of the Kinebik property.

The potential integration of the Marban Alliance property to the Canadian Malartic land bundle will create important and distinctive synergies by leveraging Agnico Eagle’s regional operational experience and current infrastructure, together with the Canadian Malartic mill and current open pit workforce and tools fleet.

Agnico Eagle’s President and Chief Govt Officer, Mr. Ammar Al-Joundi commented: “In keeping with our regional technique, this transaction is a tuck-in of the Marban deposit to our Canadian Malartic complicated. The Marban deposit is predicted to be complementary to different “Fill-the-Mill” alternatives at Canadian Malartic, additional bettering the manufacturing profile at a long-life world class asset. Our intensive operation, exploration and group expertise is predicted to boost the worth generated from the Marban Alliance property and unlock additional potential at our Abitibi platform. We’re trying ahead to working with our companions and all stakeholders within the area as we proceed to advance this chance”.

O3 Mining’s President and Chief Govt Officer, Mr. José Vizquerra commented: “The all-cash provide at a big premium to market is a wonderful final result for our shareholders and is validation of the efforts made by the O3 Mining group. Having diligently superior the Marban Alliance mission over the previous 5 years, the timing is correct for O3 Mining to promote to a extra skilled operator that may effectively navigate the mission by allowing and development. This represents a considerable non-dilutive various to shareholders. We consider Agnico Eagle is the gold commonplace within the treasured metals area – it not solely has the monetary energy and the mining experience to advance the Marban Alliance mission, however shares our dedication to work in partnership with stakeholders in a socially accountable method. At this time’s Provide represents a big milestone for O3 Mining, and I want to thank our staff, shareholders, First Nations companions, group companions and the Province of Québec for his or her assist over time.”

Transaction Particulars

Agnico Eagle, by a wholly-owned subsidiary, Agnico Eagle Abitibi Acquisition Corp. (the ” Offeror “), intends to formally begin the Provide by mailing a take-over bid round to O3 Mining shareholders on or about December 19, 2024 , and O3 Mining’s administrators’ round can be anticipated to be mailed to O3 Mining shareholders on or about that date. The Provide will probably be open for acceptance for no less than 35 days following the date of graduation. Accordingly, the Provide will probably be open for acceptance till 5:00 p.m. ( Toronto time) on January 23, 2025 .

Particular Committee and Board Suggestions

The Board of Administrators of O3 Mining (the ” Board “), having obtained a unanimous advice from a particular committee comprised solely of unbiased administrators of O3 Mining (the ” Particular Committee “) and after receiving outdoors authorized and monetary recommendation, is recommending that O3 Mining shareholders tender their Widespread Shares and settle for the Provide. The advice of the Board is supported by equity opinions supplied by Fort Capital Companions (” Fort Capital “) to the Board and Particular Committee and by Maxit Capital LP (” Maxit Capital “) to the Board, every stating that the Provide is truthful, from a monetary viewpoint, to O3 Mining shareholders (apart from Agnico Eagle and its associates).

Circumstances

The Provide is conditional upon, amongst different circumstances, there having been deposited pursuant to the Provide and never withdrawn on the expiry of the preliminary deposit interval not lower than two-thirds of the Widespread Shares then excellent, excluding the Widespread Shares beneficially owned, or over which management or route is exercised, by Agnico Eagle and any particular person appearing collectively or in live performance with Agnico Eagle. Agnico Eagle owns 906,238 Widespread Shares, representing roughly 0.8% of the excellent Widespread Shares on a primary foundation, and holds 270,000 warrants to buy Widespread Shares and a senior unsecured convertible debenture of O3 Mining within the principal quantity of $10 million that’s convertible into 4,878,049 Widespread Shares at a worth equal to $2.05 per Widespread Share. Upon the train of such warrants and conversion of the convertible debenture, Agnico Eagle would personal 6,054,287 Widespread Shares, representing roughly 5.3% of the excellent Widespread Shares on a partially-diluted foundation.

Lock-Up Agreements

All administrators and officers of O3 Mining, Extract Advisors LLC and sure Franklin Templeton managed funds (collectively representing roughly 22% of the excellent Widespread Shares on a primary foundation) have agreed underneath lock-up agreements with Agnico Eagle (the ” Lock-Up Agreements “), to tender their Widespread Shares to the Provide, together with Widespread Shares beneficially owned, or over which management or route is exercised, by them, at any time as much as and together with the expiry time of the Provide.

The Definitive Settlement gives for, amongst different issues, a non-solicitation covenant on the a part of O3 Mining (topic to customary fiduciary-out provisions). The Definitive Settlement additionally gives the Offeror with a proper to match any competing provide which the Board determines to be a superior proposal inside the which means of the Definitive Settlement. The Offeror is entitled to a termination cost of $10 million if the Definitive Settlement is terminated in sure circumstances, together with if O3 Mining enters into an settlement with respect to a superior proposal inside the which means of the Definitive Settlement.

Extra data relating to the Provide will probably be included within the Offeror’s take-over bid round and in O3 Mining’s administrators’ round, every of which is predicted to be delivered to registered shareholders of O3 Mining on or about December 19, 2024 . These supplies, in addition to the Definitive Settlement and the Lock-Up Agreements, will even be out there underneath O3 Mining’s profile on SEDAR+ ( www.sedarplus.ca ) and on O3 Mining’s and Agnico Eagle’s respective web sites.

Tips on how to Tender Your Shares; Postal Strike

Solely O3 Mining shareholders who tender their Widespread Shares will obtain the money consideration of $1.67 per Widespread Share. For data on tendering your Widespread Shares please contact Laurel Hill Advisory Group at assistance@laurelhill.com .

In mild of the Canada Submit labour strike , shareholders are inspired to remain updated on the Provide by visiting: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx . Shareholders are additionally requested to not mail in any Letter of Transmittal or share certificates. As an alternative, shareholders could contact Laurel Hill Advisory Group.

Advisors

Edgehill Advisory Ltd. is appearing as monetary advisor to Agnico Eagle. Davies Ward Phillips & Vineberg LLP is appearing as authorized advisor to Agnico Eagle.

Maxit Capital is appearing as monetary advisor to O3 Mining. Bennett Jones LLP is appearing as authorized advisor to O3 Mining. Fort Capital is appearing as monetary advisor to the Particular Committee. Cassels Brock & Blackwell LLP is appearing as authorized advisor to the Particular Committee.

The Depositary and Data Agent for the Provide is Laurel Hill Advisory Group. In case you have any questions or require help with tendering to the Provide, please contact Laurel Hill Advisory Group, by cellphone at 1-877-452-7187 or by e-mail at assistance@laurelhill.com .

About O3 Mining Inc.

O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada , adjoining to Agnico Eagle’s Canadian Malartic mine. O3 Mining owns a 100% curiosity in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance mission in Québec, which O3 Mining has superior during the last 5 years to the cusp of its subsequent stage of improvement, with the expectation that the mission will ship long-term advantages to stakeholders.

Certified Particular person

The scientific and technical content material of this information launch has been reviewed and authorized by Mr. Louis Gariépy, P.Eng (OIQ #107538), VP Exploration  of O3 Mining, who’s a “certified particular person” inside the which means of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks .

About Agnico Eagle Mines Restricted

Agnico Eagle is a Canadian primarily based and led senior gold mining firm and the third largest gold producer on the planet, producing treasured metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and improvement tasks in these international locations in addition to in the USA . Agnico Eagle is a associate of alternative inside the mining trade, acknowledged globally for its main environmental, social and governance practices. Agnico Eagle was based in 1957 and has constantly created worth for its shareholders, declaring a money dividend yearly since 1983.

Cautionary Be aware Relating to Ahead-Wanting Data

This information launch comprises “forward-looking data” inside the which means of relevant Canadian securities laws that’s primarily based on present expectations, estimates, projections, and interpretations about future occasions as on the date of this information launch. Ahead-looking data and statements are primarily based on estimates of administration by O3 Mining and Agnico Eagle, on the time they have been made, and contain identified and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking data or statements. Ahead-looking statements on this information launch embrace, however aren’t restricted to, statements relating to: the Provide, together with the anticipated timing of graduation and expiration, mechanics, funding, completion, settlement, outcomes and results of the Provide; the anticipated timing of the supply of the Offeror’s take-over bid round and O3 Mining’s administrators’ round; the explanations to just accept the Provide; the worth inherent in O3 Mining’s portfolio of tasks, together with the Marban Alliance mission; the power for the Marban Alliance mission to assist an open pit mining operation; the anticipated outcomes of completion of the transaction, together with the mixing of the Marban Alliance property to the Canadian Malartic land bundle, synergies arising therefrom, improved manufacturing profile, enhanced worth generated and unlocked additional potential; and the opposite advantages of the transaction. Materials components or assumptions that have been utilized in formulating the forward-looking data contained herein embrace, with out limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that the Provide will probably be made in accordance with the Definitive Settlement and will probably be profitable, that each one required regulatory consents and approvals will probably be obtained and all different circumstances to completion of the transaction will probably be glad or waived, and the power to realize objectives, together with the mixing of the Marban Alliance property to the Canadian Malartic land bundle and the power to appreciate synergies arising therefrom. Agnico Eagle and O3 Mining warning that the foregoing listing of fabric components and assumptions will not be exhaustive. Though the forward-looking data contained on this information launch is predicated upon what Agnico Eagle and O3 Mining consider, or believed on the time, to be affordable expectations and assumptions, there is no such thing as a assurance that precise outcomes will probably be in line with such forward-looking data, as there could also be different components that trigger outcomes to not be as anticipated, estimated or meant, and neither O3 Mining, nor Agnico Eagle nor some other particular person assumes accountability for the accuracy and completeness of any such forward-looking data. No assurance may be provided that these expectations will show to be appropriate and such forward-looking statements included on this information launch shouldn’t be unduly relied upon. O3 Mining and Agnico Eagle don’t undertake, and assume no obligation, to replace or revise any such forward-looking statements or forward-looking data contained herein to replicate new occasions or circumstances, besides as could also be required by relevant regulation. These statements converse solely as of the date of this information launch. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the longer term monetary efficiency of Agnico Eagle or any of its associates or O3 Mining.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch. No inventory trade, securities fee or different regulatory authority has authorized or disapproved the data contained herein.

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SOURCE Agnico Eagle Mines Restricted

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