<div id="readability-page-1"><div> By Connor Hart and Paul Vieira <pre></pre> Agnico Eagle Mines expects its Hope Bay project -- located in the Canadian Arctic territory of Nunuvat -- to produce between 400,000 and 435,000 ounces of gold annually. The Toronto-based miner on Tuesday said it has completed a preliminary economic assessment for its Hope Bay project, outlining an initial mine life of 11 years and seeing potential for substantial additional upside from exploration across the region. The site is thought to have a mineral resource base of 5.79 million ounces of gold in the measured and indicated category, as well as 3.33 million ounces of gold in the inferred category. Agnico Eagle's Chief Executive Ammar Al-Joundi and Canada's Energy and Natural Resources Minister, Tim Hodgson, will participate in a formal announcement regarding Hope Bay's future in Nunavut later Tuesday. &#34;Canadians have been talking about the massive opportunity of the Hope Bay deposit since the 1990s - but the time for talking is over, and it's time to build,&#34; said Hodgson, according to a separate government statement. Canada's Liberal government, under Prime Minister Mark Carney, is keen on encouraging investment in the minerals sector as a way to increase economic resilience amid the strain posed by President Trump's trade-protectionist policy. Hodgson added the Hope Bay project also marks an effort to unlock the Canadian Arctic's potential. The project is expected to lead to over 2,000 new jobs, the company and Hodgson said. Agnico Eagle expects initial capital expenditures tied to the site's development to come in at about $2.4 billion. The cost includes the reconstruction of a processing facility, the addition of a 37 megawatt diesel generator power plant, mobile equipment and underground development. Al-Joundi said Hope Bay has &#34;the potential to evolve into a long-life, district-scale mining camp for decades to come.&#34; &#34;The construction and redevelopment of Hope Bay will support the long-term sustainability of our Nunavut operating platform at between 800,000 ounces and 1 million ounces of annual gold production and represents the first major milestone toward delivering our targeted 20% to 30% production growth over the next decade,&#34; he added. <pre></pre> Write to Connor Hart at connor.hart@wsj.com <pre></pre> (END) Dow Jones Newswires May 19, 2026 08:42 ET (12:42 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

Agnico Eagle Mines' Hope Bay project in Nunavut is projected to produce 400,000 to 435,000 ounces of gold annually, with an initial mine life of 11 years. The project, requiring $2.4 billion in capital expenditures, aims to create over 2,000 jobs and unlock the Canadian Arctic's potential. CEO Ammar Al-Joundi highlighted its long-term sustainability and growth potential, targeting a 20% to 30% production increase over the next decade.

MorningStar

Agnico Eagle Mines

Newmont

Kinross Gold

SPDR Gold Minishares

Pro Ultr GLD

Us Gbl GLD & Met

Direxion Daily Jr Gold Miners Bull 2X

SPDR Gold Shares

Direxion Daily Gold Miners Bull 2X

GLOBAL X Gold Explorers

Sprott GLD Miners Etf

Roundhill Gold Miners Weeklypay ETF

Abrdn Gold ETF Trust

Sprott JR Gold Miners ETF

VanEck Junior Gold Miners ETF

iShares Gold Trust

Microsectors Gold Miners 3x Leveraged ETN

VanEck Gold Miners ETF

YieldMax Gold Miners Opt Inc Strgy ETF

Agnico Eagle Says Arctic Gold Mining Project Could Pay Off for 'Decades to Come' — Update