Exhibit 15.04

AGNICO-EAGLE MINES LIMITED    AUDIT COMMITTEE  CHARTER

This
Charter shall govern the activities of the audit committee (the "Audit Committee") of the board of directors (the "Board of Directors") of Agnico-Eagle Mines Limited
(the "Corporation").

I.     AUDIT COMMITTEE PURPOSES

The
Audit Committee shall: (a) assist the Board of Directors in its oversight responsibilities with respect to: (i) the integrity of the Corporation's financial statements,
(ii) the Corporation's compliance with legal and regulatory requirements, (iii) the external auditor's qualifications and independence, and (iv) the performance of the
Corporation's internal and external audit functions and; (b) prepare any report of the Audit Committee required to be included in the Company's annual report or proxy material.

II.    COMPOSITION

The
Audit Committee shall be comprised of a minimum of three directors. No member of the Audit Committee shall be an officer or employee of the Corporation or any of its affiliates for the purposes of
the applicable corporate statute. Each member of the Audit Committee shall be an unrelated and independent director as determined by the Board of Directors in accordance with the applicable
requirements of the laws governing the Corporation, the applicable stock exchanges on which the Corporation's securities are listed and applicable securities regulatory authorities.
(See Schedule A for current and proposed requirements.)

Each
member of the Audit Committee shall be financially literate. Unless the Audit Committee shall otherwise determine, a member of the Audit Committee shall be considered to be financially literate
if he or she has the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and
complexity of the issues that can reasonably be expected to be raised by the issuer's financial statements.

At
least one member of the Audit Committee shall be a financial expert. (See Schedule B for definition.)

The
members of the Audit Committee shall be appointed by the Board of Directors annually at the first meeting of the Board of Directors after a meeting of the shareholders at which directors are
elected and shall serve until the next annual meeting of the shareholders or until their successors are duly appointed. The Board of Directors shall designate one member of the Audit Committee as the
chair of the Audit Committee (the "Chair") or, if it fails to do so, the members of the Audit Committee shall appoint the Chair from among its members.

No
member of the Audit Committee may earn fees from the Corporation or any of its subsidiaries other than directors fees (which fees may include cash and/or shares or options or other
in-kind consideration ordinarily available to directors, as well as all of the regular benefits that other directors receive). For greater certainty, no member of the Audit Committee shall
accept any consulting, advisory or other compensatory fee from the Corporation.

III.  MEETINGS

The
Audit Committee shall meet at least quarterly or more frequently as required.

146

---



As
a part of each meeting of the Audit Committee at which the Audit Committee recommends that the Board of Directors approve the annual audited financial statements or at which the Audit Committee
reviews the quarterly financial statements, the Audit Committee shall meet in separate sessions with each of management, the external auditor and the internal auditor. In addition, the Audit Committee
or the Chair shall meet with management quarterly to review the Corporation's financial statements as described in Section IV.3 below and the Audit Committee or a designated member of
the Audit Committee shall meet with the external auditors to review the Corporation's financial statements on a quarterly or other regular basis a the Audit Committee may deem appropriate.

The
Audit Committee shall seek to act on the basis of consensus, but an affirmative vote of a majority of Members of the Audit Committee participating in any meeting of the Audit Committee shall be
sufficient for the adoption of any resolution.

IV.    RESPONSIBILITIES AND DUTIES

The
Audit Committee's primary responsibilities are to:

General

Documents/Reports Review

147

---



External Auditors

Internal Auditor

148

---



Financial Reporting Process

149

---



Disclosure Controls and Procedures

Legal Compliance

Related Party Transactions

V.     LIMITATION OF RESPONSIBILITY

While
the Audit Committee has the responsibilities and powers provided by this Charter, it is not the duty of the Audit Committee to plan or conduct audits or to determine that the Corporation's
financial statements are complete and accurate and are in accordance with generally accepted accounting principles. This is the responsibility of management (with respect to whom the Audit Committee
performs an oversight function) and the external auditors.

Amended
and Restate February 21, 2006.

150

---



SCHEDULE A

Unrelated Director

Under
the Toronto Stock Exchange rules, "unrelated director" means a director who is:



The
Toronto Stock Exchange does not consider a chair or vice chair of the board of directors who is not a member a management to be a related director.

Independent Director

Proposed Multilateral Instrument  52-110

A
director is "independent" if he or she has no direct or indirect material relationship with the issuer. The following summarizes the major aspects of the proposed Multilateral Instrument
(MI52-110) relating to the independence of a director.

Certain Relationships Automatically Exclude a Director From Serving on the Audit Committee

If
a director (or a member of the director's immediate family) has a specified type of relationship with the issuer  or has had such a relationship during
the last three years (referred to as the "cooling-off period")  then that director will not be considered independent.



151

---





Precluded Relationships Subject to Three Year Cooling-Off Period

A
person who has one of the material relationships with an issuer described above may also not sit on the issuer's audit committee for a period of three years after that relationship terminates.
MI52-110 "grandfathers" existing relationships so that the cooling-off period runs from the date on which the MI52-110 comes into force to the date on which
the independence criteria are being applied to the director in question.

The Materiality of Other Relationships is for the Board to Determine

If
a director has a direct or indirect relationship with the issuer, then it will be material if, in the view of the issuer's board of directors, the relationship could reasonably interfere with the
exercise of the director's independent judgement. These relationships may include commercial, charitable, industrial, banking, consulting, legal, accounting or familial relationships.

Exceptions to the Independence Requirement

MI52-110 provides
exemptions from the independence requirements for:



Proposed New York Stock Exchange Rules

Under
the proposed New York Stock Exchange rules, the following requirements must be met to qualify as an "Independent Director":

No
director qualifies as "independent" unless the board of directors affirmatively determines that the director has no material relationship with the listed company (either directly or as a partner,
shareholder or officer of an organization that has a relationship with the company). Companies must disclose these determinations.

In
addition, the following persons are not independent:



152

---





Five Year "Cooling Off" Period.For each of the categories above where a director is not (or is presumed not to be) independent,
there is a five-year "cooling off" period. Accordingly, the existence of the prohibited relationship at any time during the preceding five years is presumed to impair independence.

Sarbanes-Oxley Act



Exemption Authority.The Commission may exempt from the requirements of subparagraph (b) a particular relationship with respect to
audit committee members, as the Commission determines appropriate in light of the circumstances.

153

---



SCHEDULE B

Audit Committee Financial Expert

An "audit committee financial expert" must possess all of the following attributes:



The
audit committee financial expert must also have acquired those attributes through:



"Active
supervision" means the supervisor participated in, and contributed to, the process of addressing the same types of issues relating to the preparation, auditing, analysis and evaluation of
financial statements as the person actually performing the work.

154

---



QuickLinks