Agnico Eagle Completes Acquisition of Urastar

                Agnico Eagle Completes Acquisition of Urastar

PR Newswire

TORONTO, May 16, 2013

TORONTO, May 16, 2013 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM &
TSX: AEM) ("Agnico Eagle") and Urastar Gold Corp. (TSX-V: URS, FSE: 3U3 &
OTCQX: URNRF) ("Urastar") jointly announce the completion of the acquisition
of Urastar by Agnico Eagle. Agnico Eagle acquired all of the issued and
outstanding common shares of Urastar (the "Common Shares") pursuant to a
court-approved plan of arrangement under the Business Corporations Act
(British Columbia) (the "Arrangement") involving Urastar, Agnico Eagle,
holders of Common Shares ("Shareholders") of Urastar, holders of Common Share
purchase warrants ("Warrants") of Urastar ("Warrantholders") and holders of
options ("Options") of Urastar ("Optionholders" and together with the
Shareholders and the Warrantholders, the "Securityholders"). Urastar is now a
wholly-owned subsidiary of Agnico Eagle.

The Arrangement was  approved at a  special meeting  held on May  14, 2013  by 
99.76% of  the Securityholders,  voting together  as a  single class,  and  by 
99.64% of the Shareholders  after excluding votes required  to be excluded  in 
accordance with Multilateral Instrument 61-101-Protection of Minority Security
Holders in  Special  Transactions.  Final approval  for  the  Arrangement  was 
obtained from the Supreme Court of British Columbia on May 15, 2013.

Under the terms of the Arrangement, each Shareholder will receive in  exchange 
for each Common Share held, C$0.25  in cash. Holders of in-the-money  Warrants 
that have  not otherwise  exercised their  in-the-money-Warrants will  receive 
C$0.15 in cash for  each in-the-money-Warrant held. Out-of-the-money  Warrants 
and Options  will  be  cancelled  as  part  of  the  Arrangement.  Registered 
Shareholders and in-the-money  Warrantholders should  follow the  instructions 
contained in Urastar's  management information  circular dated  April 8,  2013 
("Circular") in order to receive the consideration to which they are  entitled 
pursuant to the Arrangement.

Agnico Eagle intends to  cause Urastar to take  the necessary steps to  delist 
the Common Shares from the TSX Venture Exchange ("TSX-V") and to cause Urastar
to apply to the relevant securities commissions  for Urastar to cease to be  a 
reporting issuer under Canadian securities laws.

For further details regarding the Arrangement, please refer to the Circular, a
copy of  which  is  available  under  Urastar's  profile  on  the  System  for 
Electronic Document Analysis and Retrieval at

About Agnico Eagle

Agnico Eagle is a long established, Canadian headquartered, gold producer with
operations  located  in  Canada,  Finland  and  Mexico,  and  exploration  and 
development activities  in  Canada, Finland,  Mexico  and the  United  States. 
Agnico Eagle  has full  exposure to  higher gold  prices consistent  with  its 
policy of  no forward  gold sales.  It has  declared a  cash dividend  for  31 
consecutive years.

About Urastar

Urastar is junior mining company that has been exploring former gold producing
areas in the state of Sonora, Mexico.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as  that 
term is  defined  in  the  policies  of  the  TSX  Venture  Exchange)  accepts 
responsibility for the adequacy or accuracy of this new release.

Forward-looking statements

The information in this news  release has been prepared  as at May 16,  2013. 
Certain statements contained in this news release 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,  words such  as 
"will", "expects"  and  "intends"  and similar  expressions  are  intended  to 
identify forward-looking statements or information.

Such  statements  and  information  include,  without  limitation,  statements 
relating to Agnico Eagle's  intention to cause Urastar  to take the  necessary 
steps to delist the Common Shares from the TSX-V and to apply to the  relevant 
securities commissions for Urastar to cease to be a reporting issuer.

These forward-looking statements are subject to numerous risks,  uncertainties 
and assumptions, certain  of which  are beyond  the control  of Agnico  Eagle. 
Agnico Eagle disclaims  any intention or  obligation to update  or revise  any 
forward-looking statements, whether  as a  result of  new information,  future 
events or otherwise except as required by applicable securities laws.

SOURCE Agnico Eagle Mines Limited


regarding Agnico Eagle:
Investor Relations
145 King Street East, Suite 400
Toronto, ON M5C2Y7
(416) 947-1212
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