STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2011

STOCK-BASED COMPENSATION

Stock option activity

	2011					2010					2009
	Number of Options			Weighted Average Exercise Price		Number of Options			Weighted Average Exercise Price		Number of Options			Weighted Average Exercise Price
Outstanding, beginning of year		6,762,704		C$	56.94		5,707,940		C$	53.85		4,752,440		C$	44.57
Granted		2,630,785			76.12		2,926,080			57.55		2,276,000			62.65
Exercised		(308,688	)		43.62		(1,627,766	)		47.02		(1,238,000	)		34.28
Forfeited		(125,750	)		67.47		(243,550	)		58.03		(82,500	)		55.99
Outstanding, end of year		8,959,051		C$	62.88		6,762,704		C$	56.94		5,707,940		C$	53.85
Options exercisable at end of year		5,178,172					2,972,857					2,445,615

Activity of non-vested stock options

	2011
	Number of Options			Weighted Average Grant Date Fair Value
Nonvested, beginning of year		3,789,847		C$	18.71
Granted		2,630,785		C$	17.05
Vested		(2,537,253	)	C$	18.40
Forfeited (unvested)		(102,500	)	C$	17.77
Nonvested, end of year		3,780,879		C$	17.79

Options outstanding and exercisable by exercise price ranges

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number Excercisable		Weighted Average Exercise Price
C$23.02 — C$36.23		16,000		1.84 years	C$	33.26		16,000	C$	33.26
C$39.18 — C$59.71		4,361,866		2.00 years		54.94		3,070,576		54.17
C$60.72 — C$83.08		4,581,185		3.16 years		70.55		2,091,596		67.22
C$23.02 — C$83.08		8,959,051		2.59 years	C$	62.88		5,178,172	C$	59.38

Schedule of weighted average assumptions under the Black-Scholes option pricing model

	2011		2010		2009
Risk-free interest rate		1.95%		1.86%		1.27%
Expected life of options (in years)		2.5		2.5		2.5
Expected volatility of Agnico-Eagle's share price		34.70%		43.80%		64.00%
Expected dividend yield		0.89%		0.42%		0.42%