Agnico Eagle Mines Limited (NYSE:AEM) signed a Letter of intent to acquire TMAC Resources Inc. (TSX:TMR) from Resource Capital Fund VI L.P., a fund managed by RCF Management, LLC, Newmont Corporation (NYSE:NEM), Shandong Gold Mining (Hong Kong) Co., Limited, Directors and Officers of TMAC Resources Inc. and others for approximately CAD 290 million on December 29, 2020. Agnico Eagle Mines Limited (NYSE:AEM) entered into agreements to acquire TMAC Resources Inc. (TSX:TMR) from Resource Capital Fund VI L.P., a fund managed by RCF Management, LLC, Newmont Corporation (NYSE:NEM), Shandong Gold Mining (Hong Kong) Co., Limited, Directors and Officers of TMAC Resources Inc. and others for approximately CAD 290 million on January 4, 2021. Agnico Eagle has agreed to acquire all of the outstanding common shares of TMAC at a price of CAD 2.2 per share (the "Offer Price") in cash. In addition, in connection with the closing of the Transaction, Agnico Eagle will retire TMAC's outstanding debt and deferred interest and fees. The transaction will be financed from the cash on hand and available liquidity. The transaction is subject to approval under the Competition Act (Canada), approval from Ontario Superior Court of Justice and will also be subject to other closing conditions customary in transactions of this nature. The arrangement was approved by 97.08% of the votes of TMAC shareholders that were represented at the special meeting held on June 26, 2020; there will be no further shareholders' meeting in connection with the transaction. The board of directors of TMAC, after consultation with its financial and legal advisors, and on the unanimous recommendation of a special committee of independent directors of TMAC (the "TMAC Special Committee"), has unanimously approved the transaction. On January 6, 2021, the parties received an advance ruling certificate under the Competition Act (Canada) satisfying the “Competition Act Clearance” condition in respect of the transaction. As of January 20, 2021, TMAC Resources Inc. has received an amended final order from the Ontario Superior Court of Justice (Commercial List) approving the acquisition. The transaction is expected to close on or before February 8, 2021. As of January 20, 2021, the transaction is expected to close on or about February 2, 2021.

Blair Franklin Capital Partners acted as financial advisor and fairness opinion provider to the TMAC special committee and Board of Directors. BMO Capital Markets and CIBC Capital Markets acted as financial advisor and fairness opinion providers for TMAC. Jay Goldman, Lindsay Clements, Jeff Roy, Jason Arbuck, Chris Hersh, Lara Jackson and Stephanie Voudouris of Cassels Brock & Blackwell LLP and Stikeman Elliott LLP acted as legal advisors to TMAC. Trinity Advisors Corporation and First Asia Group Ltd. acted as financial advisors and Patricia L. Olasker, Christopher Anderson, Jennifer Longhurst, Matthew Milne-Smith and Jim Dinning of Davies Ward Phillips & Vineberg LLP acted as legal advisors to Agnico Eagle. Scotia Capital Inc. acted as financial advisor to Shandong Gold Mining (Hong Kong) Co., Limited. Gesta Abols of Fasken acted as legal advisor to Blair Franklin Capital Partners Inc.