Agnico Eagle and the Kitikmeot Inuit Association (KIA) are pleased to announce the signing of renewed Inuit Agreements for the Hope Bay project. The agreements establish a framework to support the redevelopment of the Hope Bay project, expected to become one of Canada’s most important new mines in the next five years, while promoting Inuit participation, workforce advancement and business opportunities in the Kitikmeot Region.

Located in the Kitikmeot Region of Nunavut, Hope Bay represents a significant development opportunity for the territory and its communities. Since acquiring the project in 2021, Agnico Eagle has worked closely with KIA to advance a shared vision for Hope Bay and the economic and social benefits it can generate for Inuit. The renewed agreements reinforce the parties’ commitment to working together to deliver lasting benefits while supporting the responsible advancement of the project.

“The completion of these agreements is a direct result of the strong relationship between Agnico Eagle and the Kitikmeot Inuit Association,” said David Nivingalok, Acting President of the Kitikmeot Inuit Association. “This relationship ensures that agreements are based on providing economic benefits to Kitikmeot Inuit and take into account environmental issues and the long-term benefit of Kitikmeot Inuit. We are proud of our relationship with Agnico Eagle and are even prouder that this relationship results in long-term benefits for the Kitikmeot, its people and communities.”

“The signing of these agreements marks a significant milestone for Hope Bay and for our relationship with the Kitikmeot Inuit Association,” said Ammar Al-Joundi, President and Chief Executive Officer of Agnico Eagle. “We believe the success of Hope Bay hinges on building strong partnerships with Inuit. With these agreements, we are reaffirming our commitment to mutual respect and continued collaboration while creating long-term value for Inuit and communities across the Kitikmeot Region. We are proud to continue working together to shape a strong future for the Hope Bay project.”

“I was fortunate to visit and tour the Hope Bay earlier this spring and see firsthand the incredible potential at site and in the region. I extend my congratulations to Kitikmeot Inuit Association and Agnico Eagle for reaching an important Inuit and Impact Benefits Agreement” said John Main, Premier of Nunavut. “Strong partnerships between Inuit organizations and industry partners are essential to Nunavut’s continued growth and prosperity. I hope this renewed commitment helps expand opportunities for Nunavummiut and spurs further collaboration in building stronger communities across the territory.”

About the Inuit Agreements

The renewed package of Inuit Agreements includes provisions for surface access to Inuit Owned Lands at Hope Bay, an Inuit Impact and Benefit Agreement (IIBA), a Net Smelter Royalty Agreement and a Water and Wildlife Compensation Agreement, all of which support the ongoing relationship between Agnico Eagle and the KIA. These agreements address matters related to Inuit participation, employment, training, business opportunities, environmental stewardship and other measures that support lasting benefits for Inuit communities in the region. The specific terms of the agreements remain confidential to the parties.

About Kitikmeot Inuit Association

The Kitikmeot Inuit Association (KIA) is a Designated Inuit Organization (DIO) under the Nunavut Agreement. The KIA manages the lands in trust for Kitikmeot Inuit, supporting traditional and cultural values and providing economic and social benefits to Kitikmeot Inuit. A not-for-profit designated Inuit organization with community-elected leadership, the KIA represents the Inuit people of the Kitikmeot Region of Nunavut.

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.