Agnico-Eagle Press Release...

Agnico-Eagle Mines Limited reports investment in AuEx Ventures Inc

TORONTO, March 11 /CNW/ - Agnico-Eagle Mines Limited ("Agnico" or the "Company") today reported that it had acquired 1,000,000 units ("Units") of AuEx Ventures Inc. ("AuEx") by way of a private placement at a price of $2.15 per Unit for a total consideration of $2,150,000 in cash. Each Unit consisted of one common share ("Common Shares"), resulting in the acquisition of a total of 1,000,000 Common Shares of AuEx by the Company, and one-half of one share purchase warrant ("Warrants"), being 500,000 Warrants, each full Warrant entitling the holder to acquire one Common Share at a price of $2.75 per share for the first twelve months following the closing date and a price of $3.25 per share for the subsequent twelve months, subject to certain accelerated expiry provisions.

Combined with the 2,202,100 common shares of AuEx previously held, Agnico now holds 3,202,100 common shares and 500,000 share purchase warrants representing an ownership position in AuEx of 12.4% on a partially diluted basis.

The Common Shares and Warrants were acquired for investment purposes. Agnico may acquire additional common shares or warrants of AuEx or dispose of some or all of the common shares or warrants of AuEx currently held.

Agnico purchased the Common Shares and Warrants pursuant to the "accredited investor" prospectus exemption provided in National Instrument 45-106.