16% Increase in Silver Reserves and 12% Increase in Gold Reserves Extends Coeur’s Operating Profile

Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE:CDE)(TSX:CDM) announced contained ounces of proven and probable mineral reserves totaling approximately 255.4 million silver ounces and 2.2 million gold ounces, representing increases of 15.9% and 12.3%, respectively, compared to year-end 2012. These gains are net of the 17.0 million ounces of silver and 262,217 ounces of gold produced during 2013. In addition to these reserves, Coeur announced measured and indicated mineral resources totaling approximately 386.3 million silver ounces and 2.5 million gold ounces, up 26.6% and 1.4%, respectively, compared to year-end 2012.

Highlights

(All comparisons below refer to year-end 2013 compared with year-end 2012)

  • Proven and probable silver reserves increased 15.9% to 255.4 million ounces
  • 26.6% increase in measured and indicated silver resources to 386.3 million ounces
  • Proven and probable gold reserves increased 12.3% to 2.2 million ounces
  • 1.4% increase in measured and indicated gold resources to 2.5 million ounces
  • Inferred silver resources increased 45.5% to 96.4 million ounces
  • Inferred gold resources increased 36.5% to 1.1 million ounces

Mitchell J. Krebs, Coeur’s President and Chief Executive Officer, said, “For the past several years, our main focus has been to get all four of our mines up and running consistently. 2012 was the first year we devoted significant capital to exploration and we are starting to see the fruits of these efforts. We have spent $74 million in exploration expenditures over the past two years and will continue to fund exploration activities using a success-based approach focused on resource conversion. We believe a robust exploration program represents a high-return use of our capital based on the results we have achieved.

“In 2014, we plan to invest $23 - $28 million in exploration, including approximately $10 million in capitalized drilling, but may increase this budget if we receive positive drill results that warrant further exploration activity. We are continuing a targeted focus on resource conversion at Palmarejo, which we believe holds considerable opportunity for new sources of production.”

Please refer to the tables in the Appendix for tons and average grades associated with references of contained ounces in each category in this news release. All reserves and resources reported herein comply with Canadian National Instrument 43-101 (“NI 43-101”).

About Coeur

Coeur Mining is the largest U.S.-based primary silver producer and a significant gold producer. The Company has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals markets. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. The Company also has a non-operating interest in the Endeavor mine in Australia in addition to net smelter royalties on the Cerro Bayo mine in Chile, the El Gallo complex in Mexico, and the Zaruma mine in Ecuador. In addition, the Company has two silver-gold feasibility stage projects - the La Preciosa project in Mexico and the Joaquin project in Argentina. The Company also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. The Company owns strategic investment positions in eight silver and gold development companies with projects in North and South America.

Cautionary Statement

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding mineral reserve and resource estimates, exploration expenditures, exploration and development efforts, and expectations regarding new sources of production. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeur's production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver ore reserves, changes that could result from Coeur's future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves and the absence of control over mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

W. David Tyler, Coeur's Vice President, Technical Services and a qualified person under Canadian National Instrument 43-101, supervised the preparation of the scientific and technical information concerning Coeur's mineral projects in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, please see the Technical Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in public disclosures, such as "measured," "indicated," "inferred” and “resources," that are recognized by Canadian regulations, but that SEC guidelines generally prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov.

Table 1: 2013 Proven and Probable Reserves

      GRADE (Oz/Ton) OUNCES     LOCATION   SHORT TONS SILVER GOLD SILVER GOLD PROVEN RESERVES Rochester Nevada, USA 132,188,000 0.53 0.004 69,915,000 551,000 Martha Argentina — — — — — San Bartolomé Bolivia 1,206,000 2.87 — 3,456,000 — Kensington Alaska, USA 354,000 — 0.243 — 86,000 Endeavor Australia 2,646,000 2.58 — 6,820,000 — Palmarejo Mexico 5,100,000 3.68 0.050 18,762,000 256,000 Joaquin Argentina — — — — — La Preciosa   Mexico   —   —   —     —   — Total       141,494,000         98,953,000   893,000 PROBABLE RESERVES Rochester Nevada, USA 55,046,000 0.57 0.002 31,454,000 130,000

Martha

Argentina — — — — — San Bartolomé Bolivia 39,700,000 2.52 — 100,072,000 — Kensington Alaska, USA 5,662,000 — 0.158 — 897,000 Endeavor Australia 1,433,000 1.41 — 2,026,000 — Palmarejo Mexico 6,135,000 3.73 0.051 22,891,000 313,000 Joaquin Argentina — — — — — La Preciosa   Mexico   —   —   —     —   — Total       107,976,000         156,443,000   1,340,000 PROVEN AND PROBABLE RESERVES Rochester Nevada, USA 187,234,000 0.54 0.004 101,369,000 681,000 Martha Argentina — — — — — San Bartolomé Bolivia 40,906,000 2.53 — 103,528,000 — Kensington Alaska, USA 6,016,000 — 0.163 — 983,000 Endeavor Australia 4,079,000 2.17 — 8,846,000 — Palmarejo Mexico 11,235,000 3.71 0.051 41,653,000 569,000 Joaquin Argentina — — — — — La Preciosa   Mexico   —   —   —     —   — Total Proven and Probable       249,470,000         255,396,000   2,233,000  

Table 2: 2013 Measured and Indicated Resources (Excluding Proven and Probable Reserves)

      GRADE (Oz/Ton) OUNCES     LOCATION   SHORT TONS SILVER GOLD SILVER GOLD MEASURED RESOURCES Rochester Nevada, USA 66,190,000 0.45 0.003 29,860,000 186,000 Martha Argentina — — — — — San Bartolomé Bolivia — — — — — Kensington Alaska, USA 387,000 — 0.238 — 92,000 Endeavor Australia 6,724,000 2.33 — 15,690,000 — Palmarejo Mexico 4,507,000 6.27 0.095 28,238,000 429,000 Joaquin Argentina 5,865,000 4.62 0.003 27,106,000 19,000 La Preciosa   Mexico   11,119,000   2.78   0.005     30,856,000   58,000 Total       94,792,000         131,750,000   784,000 INDICATED RESOURCES Rochester Nevada, USA 75,532,000 0.42 0.004 31,893,000 268,000

Martha

Argentina 57,000 13.60 0.018 775,000 1,000 San Bartolomé Bolivia 17,015,000 2.17 — 36,869,000 — Kensington Alaska, USA 2,299,000 — 0.206 — 474,000 Endeavor Australia 8,267,000 2.51 — 20,737,000 — Palmarejo Mexico 21,795,000 1.33 0.033 28,950,000 711,000 Joaquin Argentina 11,098,000 3.39 0.004 37,670,000 41,000 Lejano Argentina 1,233,000 2.42 0.008 2,983,000 10,000 La Preciosa   Mexico   38,231,000   2.48   0.004     94,670,000   172,000 Total       175,527,000         254,547,000   1,677,000 MEASURED AND INDICATED RESOURCES Rochester Nevada, USA 141,722,000 0.44 0.003 61,753,000 454,000 Martha Argentina 57,000 13.60 0.018 775,000 1,000 San Bartolomé Bolivia 17,015,000 2.17 — 36,869,000 — Kensington Alaska, USA 2,686,000 — 0.211 — 566,000 Endeavor Australia 14,991,000 2.43 — 36,427,000 — Palmarejo Mexico 26,302,000 2.17 0.043 57,188,000 1,140,000 Joaquin Argentina 16,963,000 3.82 0.004 64,776,000 60,000 Lejano Argentina 1,233,000 2.42 0.008 2,983,000 10,000 La Preciosa   Mexico   49,350,000   2.54   0.005     125,526,000   230,000 Total Measured and Indicated       270,319,000         386,297,000   2,461,000  

Table 3: 2013 Inferred Resources

      GRADE (Oz/Ton) OUNCES     LOCATION   SHORT TONS SILVER GOLD SILVER GOLD INFERRED RESOURCES Rochester Nevada, USA 37,365,000 0.62 0.003 23,295,000 101,000 Martha Argentina 204,000 4.75 0.005 969,000 1,000 San Bartolomé Bolivia 3,683,000 1.26 — 4,638,000 — Kensington Alaska, USA 1,014,000 — 0.259 — 263,000 Endeavor Australia 1,653,000 2.86 — 4,726,000 — Palmarejo Mexico 11,611,000 1.91 0.053 22,188,000 621,000 Joaquin Argentina 1,022,000 3.02 0.004 3,084,000 4,000 Lejano Argentina 3,307,000 1.73 0.006 5,713,000 19,000 La Preciosa   Mexico   16,791,000   1.89   0.003     31,810,000   49,000 Total Inferred       76,650,000         96,423,000   1,058,000   Notes to the above mineral reserves and resources: 1.   Effective December 31, 2013 except Endeavor, effective June 30, 2013. 2. Metal prices used for mineral reserves were $25.00 per ounce of silver and $1,450 per ounce of gold, except Endeavor, at $2,300 per metric ton of lead, $2,300 per metric ton of zinc, and $34.00 per ounce of silver. Metal prices used for mineral resources were $29.00 per ounce of silver and $1,600 per ounce of gold, except for Endeavor, at $2,300 per metric ton of lead, $2,300 per metric ton of zinc and $34.00 per ounce of silver. 3. Palmarejo mineral resources are the addition of Palmarejo, Guadalupe, and La Patria (measured, indicated, and inferred). 4. Mineral resources are in addition to mineral reserves and have not demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be considered for estimation of mineral reserves. 5. Rounding of tons and ounces, as required by reporting guidelines, may result in apparent differences between tons, grade, and contained metal content. 6.

For details on the estimation of mineral resources and reserves for each property, please refer to the relevant NI 43-101-compliant Technical Report on file at www.sedar.com and the updated Technical Report for Rochester to be filed within 45 days on www.sedar.com.

Coeur Mining, Inc.Bridget Freas, Director, Investor Relations(312) 489-5819orDonna Mirandola, Director, Corporate Communications(312) 489-5824www.coeur.com

Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Coeur Mining Charts.
Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Coeur Mining Charts.