Soltoro Announces Closing of Previously Announced Acquisition by Agnico Eagle Mines

TORONTO, Jun 9, 2015 - Soltoro Ltd. (TSX VENTURE:SOL) ("Soltoro" or the "Company") is pleased to announce today that it has concluded the previously announced plan of arrangement (the "Arrangement") pursuant to which Agnico Eagle Mines Ltd. ("Agnico Eagle") has acquired 100% of the issued and outstanding common shares of Soltoro. Soltoro is now a wholly-owned subsidiary of Agnico Eagle.

The Arrangement was approved on June 4, 2015 at a Soltoro special meeting by approximately 99.95% of the votes cast by Soltoro securityholders. Final approval for the Arrangement was obtained from the Ontario Superior Court of Justice (Commercial List) on June 8, 2015. As a result, Soltoro's common shares will be delisted from the TSX Venture Exchange and Agnico Eagle will apply to the relevant securities commissions for Soltoro to cease to be a reporting issuer under Canadian securities laws.

Former Soltoro President and CEO, Andrew Thomson commented "I would like to thank the entire Soltoro team for their hard work and determination which resulted in the successful transaction with Agnico Eagle. A special thanks is extended to our shareholders and former partners who provided us with the funding to advance our projects over the years. Through this transaction, Agnico Eagle has enhanced its portfolio of exploration and mining assets in Southwestern Mexico with a view to advancing their development in the Guachinango district. We also look forward to shareholders continued support in Palamina Corp."


The Arrangement

Under the Arrangement, each Soltoro common share was exchanged for 0.00793 of an Agnico Eagle common share, C$0.01 in cash, and one common share of a newly formed Ontario company named Palamina Corp. valued at C$0.02 per share, which was spun off to former Soltoro shareholders under the Arrangement.

Full details of the Arrangement and certain other matters are set out in the management information circular of Soltoro dated May 5, 2015 (the "Information Circular"). A copy of the Information Circular can be found under Soltoro's profile on SEDAR at www.sedar.com.

Soltoro shareholders who have questions or who may need assistance with the completion of letters of transmittal and in collecting the Arrangement consideration to which they are entitled are advised to contact Computershare Investor Services Inc., the depository for the Arrangement, at:

North American Toll Free: 1-800-564-6253
Telephone: 1-514-982-7555 (Outside North America)
Email: corporateactions@computershare.com


Further Information

For further information regarding Soltoro or Agnico Eagle, contact Investor Relations at info@agnicoeagle.com or call (416) 947-1212.


Forward-Looking Statements

The information in this document has been prepared as at June 9, 2015. Certain statements contained in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of Canadian provincial securities laws and are referred to herein as forward-looking statements. When used in this document, the words "anticipate", "believe", "expect", "estimate", "forecast", "intend", "will", "planned", and similar expressions are intended to identify forward-looking statements or information. Such statements include without limitation: statements regarding Agnico Eagle's intention to delist the Soltoro common shares and cause Soltoro to cease being a reporting issuer, the realization of expected benefits of the acquisition of Soltoro's exploration assets, the consideration offered to former Soltoro shareholders, and the quality and potential of Soltoro's and Palamina Corp.'s exploration properties.

Such statements and information reflect Soltoro's views as at the date of this document and are subject to certain risks, uncertainties and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown could cause the actual results to be materially different from those expressed or implied by such forward-looking statements. Such risks include, but are not limited to: the volatility of prices of gold and other metals; uncertainty of mineral reserves, mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures, and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs; mining risks; community protests; risks associated with foreign operations; governmental and environmental regulation; the volatility of stock prices; and risks associated with by product metal derivative strategies. For a more detailed discussion of such risks and other factors that may affect Soltoro's or Agnico Eagle's ability to achieve the expectations set forth in the forward-looking statements contained in this document, see the Information Circular and Soltoro's audited financial statements for the year ended December 31, 2014 filed on SEDAR under Soltoro's profile at www.sedar.com and Agnico Eagle's Annual Information Form for the year ended December 31, 2014 filed on SEDAR under Agnico Eagle's profile at www.sedar.com and included in Agnico Eagle's Form 40F for the year ended December 31, 2014 filed on EDGAR at www.sec.gov, as well as both of Soltoro's and Agnico Eagle's other filings with the Canadian securities regulators and Agnico Eagle's filings with the U.S. Securities and Exchange Commission. Soltoro does not intend, nor does it assume any obligation, to update these forward-looking statements and information, except as required by applicable laws.



Contact

Soltoro Ltd.
Investor Relations
(416) 947-1212
info@agnicoeagle.com