Agnico-Eagle Mines Ltd.'s board of directors of the company has approved the payment of a quarterly cash dividend of $0.22 per common share. The next of these dividends will be paid on June 17, 2013 to shareholders of record as of June 3, 2013.

Agnico-Eagle Mines Ltd. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2013. For the quarter, the company reported quarterly net income of $23.9 million, or $0.14 per share against net income of $78.5 million, or $0.46 per share. This result includes a non-cash foreign currency translation loss of $3.7 million or $0.02 per share, non-cash stock option expense of $11.2 million or $0.07 per share, non-cash impairment loss on available for sale securities of $11.0 million or $0.06 per share and other non-recurring expense of $3.9 million or $0.02 per share. Excluding these items would result in adjusted net income of $53.6 million, or $0.31 per share. Cash provided by operating activities was $146.1 million compared to $196.5 million in the first quarter of 2012. The lower net income and cash provided by operating activities in 2013 was primarily due to lower gold prices and production combined with higher cash costs when compared to the first quarter of 2012. Revenue was $423.192 million against $474.098 million a year ago. Income before income and mining taxes was $48.608 million against $107.510 million a year ago. Additions to property, plant and mine Capital expenditures were $131 million, including $25 million at LaRonde, $18 million at Meadowbank, $7 million at Kittila, $7 million at Pinos Altos, $5 million at Lapa, and $2 million at Creston Mascota. Capital expenditures at development projects included $37 million at La India, $17 million at Goldex, and $12 million at Meliadine against $75.995 million a year ago. The company has net debt a little over $500 million. The company's cash flow is about $150 million, $0.80 a share. For the quarter, the company reported payable gold production of 236,975 ounces compared to 254,955 ounces in the first quarter of 2012. The lower level of production in the 2013 period was primarily due to the Creston Mascota heap leach being suspended during most of the quarter. A description of the production and cost performance for each mine is set out further below. Total silver was 1,251,000 ounces against 1,215,000 ounces a year ago. Zinc was 8,239 tonnes against 12,978 tonnes a yea ago. Copper was 1,082 tonnes against 1,326 tonnes a year ago. The company announced that it's production guidance for the year 2013 remains unchanged at 970,000 to 1,010,000 ounces of gold, as the expected 15,000 ounce production from Goldex offsets anticipated production decrease at Kittila related to a longer than anticipated maintenance shutdown. The company announced that for the year 2013, it's capital expenditures are now expected to be $621 million, reflecting an accelerated schedule at both Goldex and La India. The increases in the capital expenditures budget include $27 million at La India and $5 million at Goldex that were previously budgeted for 2014, as well as a decrease of $7 million reflecting changes in foreign exchange rates. The previous estimate of 2013 capital expenditures was $596 million. The company is still on track for its 2013 production guidance, so that remains unchanged at 990,000 ounces. In terms of net free cash flow, this year, the company is going to reinvest back in its business and sustaining capital and capitalize exploration a little over $600 million. The company has accelerated some of the Goldex and La India CapEx due to the earlier start on those projects into 2013.

Midland Exploration Inc. announced that Agnico-Eagle Mines Ltd. will begin an underground drilling campaign at the Lapa mine, where certain drill holes will be extended onto the Maritime-Cadillac property, in combination with a diamond drilling program from surface on the Maritime-Cadillac property. The Maritime-Cadillac property is contiguous to the Lapa gold mine property in commercial production since May 2009. Agnico-Eagle has excavated an exploration drift at 1,000 metres depth on its Lapa property, extending southeast to the northern limit of the Maritime-Cadillac property. This exploration drift will serve as a starting point to drill a series of holes designed to test the potential extension of the gold corridor defined by the previous surface drilling on the Maritime Cadillac property. The previous drilling intersected several gold zones including values up to 1.7 g/t Au over 46.4 metres including 21.1 g/t Au over 1.2 metres (Hole 141-11-31), 1.7 g/t Au over 37.85 metres including 2.3 g/t Au over 24.0 metres and 12.6 g/t Au over 1.5 metre (Hole 141-10-23) and 1.1 g/t Au over 25.9 metres (Hole 141-09-21). In conjunction with this underground drilling program, a drilling campaign will also be undertaken from the surface, to follow up on and test a high-grade intersection obtained in the Dyke West Zone in drill hole 141-10-26. The latter returned a grade of 8.6 g/t Au over 5.5 metres, from 383.1 to 388.6 metres depth, including an interval at 13.8 g/t Au over 3.0 metres. The surface program will involve more than 1,000 metres to test at depth the extension of that favorable zone. The Maritime Cadillac property is well located in the eastern part of the Cadillac mining camp, south of the Lapa gold mine. The presence of significant lithological contacts (Pontiac-Piché-Cadillac) within the Cadillac-Larder Lake deformation zone provides excellent potential for the development of lode gold or disseminated gold deposits.