Coeur Reports Second Quarter 2018 Results

Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today reported second quarter 2018 financial results, which included revenue of $170.0 million, net income of $2.9 million, or $0.02 per share, and adjusted net income1 of $1.1 million, or $0.01 per share. Adjusted EBITDA1 increased 52% year-over-year to $48.4 million while companywide all-in-sustaining costs (“AISC”)1 per average spot equivalent ounce (“AgEqOz”)1 declined 6% year-over-year to $14.65 during the quarter, more than offsetting the impact of lower average realized silver and gold prices.

Cash flow from operating activities was $(1.3) million and free cash flow1 was $(42.5) million during the quarter, which were impacted by approximately $26 million of total investment to support the ongoing ramp-up of operating activities at the new high-grade Silvertip mine in British Columbia and approximately $31 million of Mexican cash income and mining tax payments that were made early in the second quarter.

“Led by our Palmarejo operation, we delivered strong financial and operating performance in the second quarter, which has resulted in an increase to our companywide full-year production guidance ranges and a reduction to our companywide full-year cost guidance ranges,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer.

“As we enter the second half of 2018, we are well-positioned to continue delivering on our strategy of successfully discovering, developing and operating high-quality precious metals mines in safe jurisdictions. We anticipate Silvertip will achieve commercial production levels in the third quarter and begin to contribute high-margin production and cash flow. Our higher level of investment in near-mine exploration continues to generate excellent results with important new discoveries at Palmarejo and Kensington and successful resource identification and expansion at Silvertip and Rochester.

“Later this year, we expect to begin upgrading our crushing facility at Rochester to accommodate a high-pressure grinding roll (“HPGR”) unit in the first quarter of 2019, which is expected to unlock significant long-term value for our stockholders by significantly enhancing silver recoveries and by substantially reducing operating costs. Production and cash flow from our Wharf gold operation in South Dakota climbed sharply during the quarter and are expected to further strengthen throughout the remainder of the year, further reinforcing the merits of that acquisition. Finally, we expect mining from Kensington’s high-grade Jualin deposit to positively impact second half production and cost levels.”

Highlights

Higher quarterly silver and gold production driven by strong performance at Palmarejo - Companywide silver equivalent1 production increased 14% year-over-year to 8.8 million ounces. The increase was driven by Palmarejo, where silver equivalent1 production climbed 40% year-over-year to 4.1 million ounces
Higher production and lower costs drove higher revenue, adjusted EBITDA1 and adjusted EBITDA margin1 - Quarterly revenue of $170.0 million increased 14% year-over-year. AISC per average spot AgEqOz1 of $14.65 declined 6% compared to the second quarter of 2017. Adjusted EBITDA1 increased 52% year-over-year to $48.4 million. Adjusted EBITDA margin1 for the period improved to 28% compared to 21% during the same period in 2017
Operating activities ramping up at high-grade Silvertip silver-zinc-lead operation - Processing rates have averaged approximately 300 tonnes per day in July and are periodically exceeding 500 tonnes per day. During the quarter, the Company made capital expenditures of $19.0 million (including $4.7 million of capitalized drilling) in pre-commercial development and process facility commissioning, bringing first half capital expenditures to $37.7 million. Commercial production is expected to commence during the third quarter
Ongoing success from accelerated near-mine exploration investments - Second quarter exploration investment totaled $16.0 million ($6.4 million expensed and $9.6 million capitalized), with over 80% allocated to near-mine targets. Coeur’s results-based exploration efforts are generating positive results and have led to new discoveries at Silvertip, Palmarejo, Kensington and Rochester
Enhancements to full-year 2018 guidance ranges - As published on July 9, 2018, full-year 2018 production guidance was increased from 36.0 - 39.4 million AgEqOz1 to 37.3 - 40.5 million AgEqOz1 due to the strong first half performance at Palmarejo. As a result, the Company has reduced both Palmarejo’s cost guidance and companywide AISC guidance for 2018. Full-year capital expenditure guidance has been increased primarily (i) to adjust for anticipated timing of Silvertip achieving commercial production and (ii) to reflect additional underground development investments at Palmarejo to access new ore sources. The Company has also increased full-year exploration expense guidance to incorporate additional planned investments in its near-mine exploration programs during the second half of 2018

Financial and Operating Highlights (Unaudited)

(Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics)

2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017

Revenue

$ 170.0 $ 163.3 $ 214.6 $ 159.9 $ 149.5 Costs Applicable to Sales $

108.2

$ 99.3 $ 122.0 $ 101.6 $ 102.2 General and Administrative Expenses $ 7.7 $ 8.8 $ 9.2 $ 7.3 $ 7.0 Net Income (Loss) $ 2.9 $ 0.7 $ 14.3 $ (11.7 ) $ (10.0 ) Net Income (Loss) Per Share $ 0.02 $ 0.00 $ 0.08 $ (0.06 ) $ (0.06 ) Adjusted Net Income (Loss)1 $ 1.1 $ 0.7 $

14.1

$ (15.3 ) $ (1.3 ) Adjusted Net Income (Loss)1 Per Share $ 0.01 $ 0.00 $ 0.08 $ (0.09 ) $ (0.01 ) Weighted Average Shares Outstanding 187.5 187.6 187.0 179.3 179.2 EBITDA1 $ 42.1 $ 49.4 $ 69.6 $ 38.6 $ 23.4 Adjusted EBITDA1 $ 48.4 $ 49.5 $

77.0

$ 40.2 $ 31.9 Cash Flow from Operating Activities $ (1.3 ) $ 15.5 $ 91.8 $ 37.3 $ 24.1 Capital Expenditures $ 41.2 $ 42.3 $ 47.1 $ 29.0 $ 37.1 Free Cash Flow1 $ (42.5 ) $ (26.8 ) $ 44.8 $ 8.3 $ (13.0 ) Cash, Equivalents & Short-Term Investments $ 123.5 $ 159.6 $ 192.0 $ 195.7 $ 201.0 Total Debt2 $ 419.7 $ 414.0 $ 411.3 $ 288.7 $ 284.6 Average Realized Price Per Ounce – Silver $ 16.48 $ 16.70 $ 16.57 $ 16.86 $ 16.95 Average Realized Price Per Ounce – Gold $ 1,241 $ 1,268 $ 1,224 $ 1,240 $ 1,206 Silver Ounces Produced 3.2 3.2 3.7 3.0 2.7 Gold Ounces Produced 94,052 85,383 118,756 93,293 82,819 Silver Equivalent Ounces Produced1 8.8 8.3 10.8 8.6 7.7 Silver Ounces Sold 3.2 3.2 3.8 2.9 2.7 Gold Ounces Sold 94,455 87,153 123,564 89,972 86,194 Silver Equivalent Ounces Sold1 8.9 8.4 11.1 8.3 7.9 Silver Equivalent Ounces Sold (Average Spot)1 10.7 10.1 13.2 9.7 9.0 Adjusted CAS per AgEqOz1 $

9.44

$ 9.69 $ 9.43 $ 11.05 $ 12.02 Adjusted CAS per Average Spot AgEqOz1 $

8.26

$ 8.48 $ 8.35 $ 9.90 $ 10.96 Adjusted CAS per AuEqOz1 $ 1,028 $ 955 $ 800 $ 843 $ 860 Adjusted AISC per AgEqOz1 $

17.62

$ 17.20 $ 14.45 $ 17.35 $ 17.81 Adjusted AISC per Average Spot AgEqOz1 $

14.65

$ 14.33 $ 12.26 $ 14.79 $ 15.58

Financial Results

Revenue for the second quarter was $170.0 million, 4% higher than the first quarter on increased metal sales, which offset slightly lower average realized silver and gold prices of $16.48 and $1,241 per ounce, respectively. Year-over-year, revenue increased 14%, also the result of higher metal sales that offset lower average realized prices. Silver sales contributed 31% of revenue during the second quarter and gold sales contributed 69%. The Company’s U.S. operations accounted for approximately 58% of second quarter revenue, comparable to the first quarter.

Average realized gold prices during the second quarter were impacted by the sale of 9,834 gold ounces at a price of $800 per ounce pursuant to Palmarejo’s gold stream agreement.

Costs applicable to sales were $108.2 million for the quarter, 9% and 6% higher quarter-over-quarter and year-over-year, respectively, as a result of higher metal sales. General and administrative expenses were $7.7 million, 13% lower than the first quarter due to lower professional service costs and 10% higher year-over-year due primarily to higher employee-related expenses.

Quarterly interest expense, net of capitalized interest, was unchanged compared to the prior quarter. The increase compared to the second quarter of 2017 is due to the amounts drawn on the Company’s $200 million revolving credit facility to partially fund the Silvertip acquisition.

Second quarter capital expenditures of $41.2 million were relatively unchanged quarter-over-quarter. The percentage attributable to sustaining capital expenditures, driven by the Company’s Palmarejo and Kensington underground mining operations, increased from 46% in the first quarter to 57% in the second quarter. Capital expenditures at Silvertip accounted for an additional $19.0 million (including $4.7 million of capitalized exploration), or 46% of total companywide capital expenditures.

Operations

Highlights of second quarter 2018 results for each of the Company’s operations are provided below.

Palmarejo, Mexico

(Dollars in millions, except per ounce amounts) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Tons milled 344,073 359,893 389,524 413,086 335,428 Average silver grade (oz/t) 6.86 6.88 6.92 5.53 4.98 Average gold grade (oz/t) 0.11 0.10 0.10 0.08 0.08 Average recovery rate – Ag 87.5 % 81.4 % 87.0 % 83.6 % 87.3 % Average recovery rate – Au 89.9 % 80.4 % 92.0 % 83.1 % 91.1 % Silver ounces produced (000’s) 2,066 2,013 2,346 1,908 1,457 Gold ounces produced 33,702 29,896 37,537 28,948 24,292 Silver equivalent ounces produced1 (000’s) 4,088 3,807 4,600 3,644 2,914 Silver ounces sold (000’s) 2,092 2,031 2,343 1,794 1,484 Gold ounces sold 31,207 30,888 38,953 26,554 25,191 Silver equivalent ounces sold1 (000’s) 3,964 3,884 4,681 3,387 2,996 Silver equivalent ounces sold1 (average spot) (000’s) 4,557 4,479 5,331 3,809 3,324 Metal sales $ 70.7 $ 70.0 $ 83.2 $ 60.7 $ 53.2 Costs applicable to sales $

30.3

$ 31.1 $ 36.0 $ 33.3 $ 33.9 Adjusted CAS per AgEqOz1 $

7.64

$ 8.01 $ 7.54 $ 9.76 $ 11.21 Adjusted CAS per average spot AgEqOz1 $

6.64

$ 6.94 $ 6.64 $ 8.68 $ 10.11 Exploration expense $ 3.2 $ 4.0 $ 2.7 $ 4.5 $ 3.1 Cash flow from operating activities $ 1.3 $ 27.3 $ 52.1 $ 18.5 $ 18.8 Sustaining capital expenditures (excludes capital lease payments) $ 9.5 $ 9.3 $ 4.9 $ 6.5 $ 6.1 Development capital expenditures $ — $ — $ 2.1 $ (1.0 ) $ 5.1 Total capital expenditures $ 9.5 $ 9.3 $ 7.0 $ 5.5 $ 11.2 Free cash flow1 $ (8.2 ) $ 18.0 $ 45.1 $ 13.0 $ 7.6

Second quarter silver equivalent1 production increased 7% quarter-over-quarter and 40% year-over-year to 4.1 million ounces due to the continued benefit of higher-than-projected grades at Independencia
Silver and gold grades, consistent with the first quarter and 38% higher year-over-year, offset lower mining rates attributable to the ongoing installation of ground support. During the second half of the year, these underground improvements are expected to facilitate a return to steady-state mining rates while expected lower grade stopes are mined
Adjusted CAS of $6.64 per average spot AgEqOz1 were 4% lower than the first quarter and 34% lower year-over-year and continued to track below initial full-year 2018 guidance of $9.25 - $9.75
The new on-site absorption, desorption, and recovery ("ADR") plant began processing run-of-mine and carbon inventory, which was stockpiled in the first quarter. Second quarter average recovery rates normalized as this inventory was processed. Through mid-July, the ADR plant has generated estimated savings of over $4.1 million in reduced refinery and freight costs and carbon purchases, recovering its upfront investment in roughly two months
Exploration expense declined 20% quarter-over-quarter as focus shifted to development towards the La Nación deposit, located between the Independencia and Guadalupe underground mines. The Company anticipates reaching the ore body in early 2019 with La Nación contributing approximately 400 tons per day (“tpd”) of mill feed once production has ramped up
Negative free cash flow1 of $8.2 million reflected the payment of $31 million in cash income and mining taxes in early April, of which $17 million related to 2017 earnings and $14 million were payments related to year-to-date earnings. Total cash income and mining tax payments in Mexico this year are expected to be $40 - $45 million
Approximately 32% of Palmarejo's gold sales in both the second quarter and first half of 2018 (or 9,834 and 19,739 ounces, respectively) were to Franco-Nevada at a price of $800 per ounce. The Company anticipates a similar percentage of Palmarejo's gold sales to be to Franco-Nevada in the second half of 2018
As published on July 9, 2018, the Company increased Palmarejo’s full-year production guidance to 7.5 - 7.9 million ounces of silver and 115,000 - 120,000 ounces of gold from 6.5 - 7.1 million ounces of silver and 110,000 - 115,000 ounces of gold. Cost guidance has been revised lower from CAS per AgEqOz1 of $9.25 - $9.75 to $8.00 - $8.50 on an average spot equivalent basis and from $10.50 - $11.00 to $9.00 - $9.50 on a 60:1 silver equivalent basis

Rochester, Nevada

(Dollars in millions, except per ounce amounts) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Ore tons placed 4,083,028 4,351,131 4,171,451 4,262,011 4,493,100 Average silver grade (oz/t) 0.53 0.54 0.50 0.53 0.53 Average gold grade (oz/t) 0.004 0.003 0.003 0.004 0.003 Silver ounces produced (000’s) 1,125 1,157 1,361 1,070 1,156 Gold ounces produced 12,273 11,487 18,995 10,955 10,745 Silver equivalent ounces produced1 (000’s) 1,861 1,846 2,500 1,727 1,801 Silver ounces sold (000’s) 1,097 1,119 1,457 1,050 1,135 Gold ounces sold 12,030 11,163 20,002 10,390 10,658 Silver equivalent ounces sold1 (000’s) 1,819 1,789 2,658 1,674 1,774 Silver equivalent ounces sold1 (average spot) (000’s) 2,048 2,004 2,969 1,839 1,913 Metal sales $ 33.7 $ 33.5 $ 49.7 $ 31.2 $ 32.8 Costs applicable to sales $ 24.5 $ 24.3 $ 34.0 $ 23.3 $ 24.2 Adjusted CAS per AgEqOz1 $ 13.36 $ 13.33 $ 12.77 $ 13.69 $ 13.54 Adjusted CAS per average spot AgEqOz1 $ 11.87 $ 11.89 $ 11.37 $ 12.46 $ 12.56 Exploration expense $ 0.2 $ — $ 0.5 $ 0.5 $ 0.3 Cash flow from operating activities $ 6.0 $ 3.4 $ 26.1 $ 1.6 $ (1.1 ) Sustaining capital expenditures (excludes capital lease payments) $ 0.4 $ 0.5 $ 0.9 $ 0.5 $ 1.1 Development capital expenditures $ 0.3 $ 2.1 $ 5.9 $ 9.2 $ 12.7 Total capital expenditures $ 0.7 $ 2.6 $ 6.8 $ 9.7 $ 13.8 Free cash flow1 $ 5.3 $ 0.8 $ 19.3 $ (8.1 ) $ (14.9 )

Total tons placed decreased quarter-over-quarter and year-over-year due to fewer run-of-mine tons placed
Quarterly silver equivalent1 production of 1.9 million ounces was slightly higher than the prior period and the second quarter of 2017. Higher production during the second half is expected to be driven by the ongoing ramp up of the Stage IV leach pad and continued placement of higher grade gold ore
Second quarter adjusted CAS per average spot AgEqOz1 of $11.87 was level with the prior quarter, 5% lower year-over-year and remained below the full-year 2018 guidance range of $12.00 - $12.50
Free cash flow1 during the second quarter was $5.3 million, reflecting the normalization of leach pad and metal inventory as well as significantly lower capital expenditures of $0.3 million. This compares to capital expenditures of $2.1 million in the prior quarter and $13.8 million during the same period in 2017. Free cash flow1 is expected to increase further in the second half of the year
Rochester’s adoption of HPGR technology remains on-schedule. The Company expects to begin crusher upgrades later this year, including the installation of an initial HPGR crusher unit early next year while it decommissions an existing, smaller crusher facility later this year. Silver recoveries are expected to improve beginning as early as the second quarter of 2019
The Company is maintaining Rochester’s full-year 2018 production guidance of 4.2 - 4.7 million ounces of silver and 45,000 - 50,000 ounces of gold. The Company is also maintaining cost guidance of CAS per AgEqOz1 of $13.25 - $13.75 on a 60:1 silver equivalent basis and $12.00 - $12.50 on an average spot equivalent basis

Wharf, South Dakota

(Dollars in millions, except per ounce amounts) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Ore tons placed 1,075,820 1,076,395 1,124,785 1,150,308 993,167 Average gold grade (oz/t) 0.023 0.022 0.029 0.029 0.024 Gold ounces produced 22,507 17,936 27,292 25,849 21,358 Silver ounces produced (000’s) 13 12 16 15 13 Gold equivalent ounces produced1 22,729 18,133 27,560 26,096 21,568 Silver ounces sold (000’s) 14 11 16 14 11 Gold ounces sold 23,053 17,339 28,975 23,855 21,314 Gold equivalent ounces sold1 23,282 17,522 29,256 24,085 21,495 Metal sales $ 29.8 $ 23.4 $ 37.3 $ 31.3 $ 27.0 Costs applicable to sales $ 19.3 $ 15.3 $ 19.9 $ 17.3 $ 15.8 Adjusted CAS per AuEqOz1 $ 824 $ 870 $ 682 $ 719 $ 737 Exploration expense $ — $ — $ 0.1 $ 0.2 $ — Cash flow from operating activities $ 11.5 $ (1.4 ) $ 17.2 $ 15.0 $ 8.8 Sustaining capital expenditures (excludes capital lease payments) $ 1.2 $ 0.3 $ 1.6 $ 1.8 $ 1.5 Development capital expenditures $ — $ — $ 1.7 $ 1.3 $ — Total capital expenditures $ 1.2 $ 0.3 $ 3.3 $ 3.1 $ 1.5 Free cash flow1 $ 10.3 $ (1.7 ) $ 13.9 $ 11.9 $ 7.3

As anticipated, quarterly gold production improved to 22,507 ounces, 25% higher quarter-over-quarter and 5% year-over-year, due to timing of leach pad recoveries. While average grade is expected to remain relatively unchanged throughout the second half of the year, sustained higher mining and crushing rates are expected to drive higher production levels
Higher production compared to the prior quarter drove a 5% reduction in adjusted CAS per AuEqOz1 of $824, below the full-year 2018 guidance range of $850 - $900
Wharf generated $10.3 million of free cash flow1 during the second quarter. This was driven by higher production and the normalization of leach pad and metal inventory. Free cash flow1 is expected to remain strong for the remainder of the year
The Company is maintaining Wharf’s full-year production and cost guidance of 85,000 - 90,000 ounces of gold at CAS per AuEqOz1 of $850 - $900

Kensington, Alaska

(Dollars in millions, except per ounce amounts) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Tons milled 168,751 158,706 167,631 172,038 163,163 Average gold grade (oz/t) 0.16 0.17 0.22 0.17 0.17 Average recovery rate 92.6 % 94.0 % 92.8 % 94.1 % 93.2 % Gold ounces produced 25,570 26,064 34,932 27,541 26,424 Gold ounces sold 28,165 27,763 35,634 29,173 29,031 Metal sales $ 35.7 $ 36.3 $ 44.3 $ 36.6 $ 35.6 Costs applicable to sales $ 34.2 $ 28.6 $ 32.0 $ 27.7 $ 28.0 Adjusted CAS per AuOz1 $ 1,195 $ 1,010 $ 896 $ 946 $ 952 Exploration expense $ 1.4 $ 1.6 $ 2.8 $ 3.0 $ 2.0 Cash flow from operating activities $ 3.2 $ 4.6 $ 16.8 $ 9.3 $ 7.0 Sustaining capital expenditures (excludes capital lease payments) $ 9.2 $ 8.5 $ 8.0 $ 6.5 $ 3.7 Development capital expenditures $ 1.5 $ 2.9 $ 4.0 $ 3.6 $ 4.9 Total capital expenditures $ 10.7 $ 11.4 $ 12.0 $ 10.1 $ 8.6 Free cash flow1 $ (7.5 ) $ (6.8 ) $ 4.8 $ (0.8 ) $ (1.6 )

Second quarter gold production of 25,570 ounces was consistent quarter-over-quarter as anticipated due to lower planned grades related to mine sequencing
Adjusted CAS per AuOz1 of $1,195 was 18% and 26% higher quarter-over-quarter and year-over-year, respectively, due to lower production and higher diesel, consumables, dewatering and drilling costs. Higher grades and production levels in the second half of 2018 are expected to result in lower unit costs
Total exploration investment during the quarter was $2.7 million, unchanged quarter-over-quarter, and included $1.4 million of expensed exploration and $1.3 million of capitalized exploration
Dewatering efforts at Jualin are expected to be completed in the third quarter and facilitate ramp up of production through year-end. As a result, production for the remainder of 2018 is expected to be weighted towards the latter part of the year
Negative free cash flow1 of $7.5 million resulted from higher operating costs
The Company is maintaining Kensington’s full-year production and cost guidance of 115,000 - 120,000 ounces of gold at CAS per AuOz1 of $900 - $950

Silvertip, British Columbia

Mining activities remain focused on underground rehabilitation and development while surface activities are focused on the planning, construction and commissioning of various process optimization projects and infrastructure upgrades
Processing rates continued to improve during the second quarter and, in July, rates have averaged approximately 300 tonnes per day and periodically exceeded 500 tonnes per day
Silvertip’s initial drilling program of over 40,000 meters (133,000 feet) was completed on-time and under-budget. The Company plans to publish a corresponding exploration update later this month. Drilling results are expected to be included in a NI 43-101 Technical Report anticipated to be filed later this year
The Company submitted a permit amendment application to operate at 1,000 metric tonnes per day earlier in the quarter and anticipates receiving approval around year-end
The Company is maintaining full-year 2018 production guidance of 1.5 - 2.0 million ounces of silver and 23.0 - 28.0 million pounds of both zinc and lead at CAS per AgEqOz1 and average spot AgEqOz1 of $15.00 - $15.50 and $12.00 - $12.50, respectively

Exploration

For the second consecutive quarter, Coeur sustained a higher level of near-mine exploration investment. Up to 18 drill rigs were active at Coeur’s operations and exploration projects during the quarter, including seven at Palmarejo, two at Kensington and six at Silvertip. 84% of the Company’s total quarterly exploration investment was allocated to near-mine opportunities and targets.

Expensed resource expansion drilling totaled $6.4 million during the quarter and was primarily focused on identifying and expanding resources at the Palmarejo and Kensington operations. Drilling activity was also completed at early-stage exploration projects in Nevada, U.S. and Sonora, Mexico.

Capitalized resource infill drilling totaled $9.6 million during the second quarter, nearly double the amount spent in the first quarter and three times the total spent in the second quarter of 2017. The majority of this increase was focused on opportunities at the new Silvertip mine.

The Company invested $6.2 million in resource definition drilling at Silvertip during the second quarter, which has generated better-than-expected results. The Company plans to publish an update on Silvertip’s exploration program in late July and anticipates filing a NI 43-101 Technical Report later this year summarizing the results. Given the success of this initial drilling program, the Company has commenced a $4.0 million second phase of drilling focusing on resource expansion targets.

At Rochester, infill drilling southwest of the pit in the Sunflower area has intercepted significant mineralization within an area previously modeled as inferred resource. Because of this area’s proximity to the pit, anticipated higher grades and shallow mineralization, the Company considers Sunflower to be a potentially significant source of future production.

At Palmarejo, as many as four rigs continued targeting expansion of the Nación and Zapata resources and definition of the recently-discovered Madero and Rampa veins (located immediately west of Guadalupe) and the Jacobo and Portales veins (located immediately east of Guadalupe). Limited drilling also commenced in the Independencia North area, targeting the Hidalgo and Reforma veins in the footwall of the main Independencia structure. It is anticipated the drilling will continue north targeting the new Barrera vein structure. Up to three rigs focused on capitalized, resource conversion drilling at Independencia and Guadalupe. Both expansion and conversion drilling levels are expected to continue at the current accelerated pace throughout the second half of the year.

At Kensington, drilling successfully targeted previously-known, high-grade structures that have the potential to become future sources of higher-grade ore. The Seward vein outcrops on surface approximately 1,900 feet above the Kensington Mine access ramp. Due to the promising mineralization on surface, drilling was completed at ramp level to test for down-dip continuity. So far, two holes have cut the mineralized structure, providing the Company’s exploration team with a solid “planar” target for future drilling from surface. Drilling also tested the lower and upper portions of the Raven structure, where results are encouraging. Deeper zones were drilled within the Kensington Main deposit, referred to as Blocks M and L. While results are pending, these holes have been testing the lower limits of the deposit below sea level. A new drill campaign began in early July at the new Elmira Zone, located above Kensington Main. Historic drilling in the Elmira Zone predated NI 43-101 standards and, as a consequence, infill holes are necessary in order to be in a position to declare resources in the zone. Along with this new zone, the nearby Johnson Vein will be tested and potentially drilled later in the year.

2018 Production Outlook

On July 9, 2018, Coeur’s production guidance was increased to reflect higher expected silver and gold production at Palmarejo due to higher-than-anticipated grades during the first half of the year.

Silver Gold Zinc Lead Silver Equivalent1 (K oz) (oz) (K lbs) (K lbs) (K oz) Palmarejo 7,500 - 7,900 115,000 - 120,000 — — 14,400 - 15,100 Rochester 4,200 - 4,700 45,000 - 50,000 — — 6,900 - 7,700 Kensington — 115,000 - 120,000 — — 6,900 - 7,200 Wharf — 85,000 - 90,000 — — 5,100 - 5,400 Silvertip 1,500 - 2,000 — 23,000 - 28,000 23,000 - 28,000 4,030 - 5,080 Total

13,200 - 14,600

360,000 - 380,000

23,000 - 28,000 23,000 - 28,000 37,330 - 40,480

2018 Cost Outlook

The Company’s cost guidance has been reduced to account for strong first half cost performance at Palmarejo, timing of anticipated commercial production at Silvertip and accelerated investment in near-mine exploration. Unit cost guidance on a spot equivalent basis remains based on silver-to-gold, -zinc and -lead equivalence ratios of 75:1, 0.09:1 and 0.07:1, respectively.

Original Guidance (if changed) Current Guidance (dollars in millions, except per ounce amounts) 60:1 Spot 60:1 Spot CAS per AgEqOz1 – Palmarejo $10.50 - $11.00 $9.25 -$9.75 $9.00 - $9.50 $8.00 - $8.50 CAS per AgEqOz1 – Rochester $13.25 - $13.75 $12.00 - $12.50 CAS per AuOz1 – Kensington $900 - $950 CAS per AuEqOz1 – Wharf $850 - $900 CAS per AgEqOz1 – Silvertip $15.00 - $15.50 $12.00 - $12.50 Capital Expenditures $120 - $140 $130 - $150 General and Administrative Expenses $32 - $34 Exploration Expense $20 - $25 $25 - $30 AISC per AgEqOz1 from continuing operations $17.50 - $18.00 $15.00 - $15.50 $17.25 - $17.75 $14.75 - $15.25

Financial Results and Conference Call

Coeur will host a conference call to discuss its second quarter 2018 financial results on July 26, 2018 at 11:00 a.m. Eastern Time.

Dial-In Numbers: (855) 560-2581 (U.S.) (855) 669-9657 (Canada) (412) 542-4166 (International) Conference ID: Coeur Mining

Hosting the call will be Mitchell J. Krebs, President and Chief Executive Officer of Coeur, who will be joined by Peter C. Mitchell, Senior Vice President and Chief Financial Officer, Frank L. Hanagarne, Jr., Senior Vice President and Chief Operating Officer, Hans Rasmussen, Senior Vice President of Exploration, and other members of management. A replay of the call will be available through August 9, 2018.

Replay numbers: (877) 344-7529 (U.S.) (855) 669-9658 (Canada) (412) 317-0088 (International) Conference ID: 101 20 458

About Coeur

Coeur Mining, Inc. is a well-diversified, growing precious metals producer with five mines in North America. Coeur produces from its wholly-owned operations: the Palmarejo silver-gold complex in Mexico, the Silvertip silver-zinc-lead mine in British Columbia, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. In addition, the Company has interests in several precious metals exploration projects throughout North America.

Cautionary Statements

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding Coeur’s strategy of successfully discovering, developing and operating high-quality precious metals mines in safe jurisdictions, anticipated production, costs, expenses, cash flow, expectations regarding Silvertip, including but not limited to, the timing of achieving commercial production, receipt of permits and completion of a technical report, grades, exploration and development efforts, sales of gold under the Palmarejo gold stream agreement, the timing and impact of installation of HPGR units at Rochester, operations at Palmarejo, Rochester, Wharf and Kensington, expected free cash flow, grades, mining rates, crushing rates, recovery rates and taxes. 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 risk that expectations regarding Silvertip including the timing of commercial production, obtaining necessary permits, and filing a technical report do not occur on a timely basis or at all, the risk that HPGR units will not be installed at Rochester on a timely basis or the anticipated benefits thereof will not be achieved, the risk that anticipated production, cost, expense, and free cash flow levels are not attained, 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, silver, zinc and lead 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 reserves, changes that could result from Coeur’s future acquisition of new mining properties or businesses, the loss of any third-party smelter to which Coeur markets its production, 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.

Christopher Pascoe, Coeur’s Director, Technical Services and a qualified person under Canadian National Instrument 43-101, approved the scientific and technical information concerning Coeur’s mineral projects in this news release. The PEA for the re-scoped mine plan at Rochester referred to in this news release is preliminary in nature and is based in part upon inferred mineral resources, and does not have as high a level of certainty as a plan based solely on proven and probable mineral reserves. 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 and there is no certainty that the results from the preliminary economic assessment will be realized. 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, Canadian investors should refer to the Technical Reports for each of Coeur’s properties as filed on SEDAR at www.sedar.com.

Non-U.S. GAAP Measures

We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non-U.S. GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs are important measures in assessing the Company’s overall financial performance. For additional explanation regarding our use of non-U.S. GAAP financial measures, please refer to our Form 10-K for the year ended December 31, 2017.

Notes

1. EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs are non-GAAP measures. Please see tables in the Appendix for the reconciliation to U.S. GAAP. Free cash flow is defined as cash flow from operating activities less capital expenditures and gold production royalty payments. Please see table in Appendix for the calculation of consolidated free cash flow. Silver and gold equivalence assumes a 60:1 silver-to-gold ratio, except where noted as average spot prices. Please see the table below for average applicable spot prices and corresponding ratios. Silver and zinc equivalence assumes a 0.06:1 silver-to-zinc ratio. Silver and lead equivalence assumes a 0.05:1 silver-to-lead ratio.

2. Includes capital leases. Net of debt issuance costs and premium received.

3. On February 28, 2018, Coeur divested the San Bartolomé mine through the sale of its 100%-owned Bolivian subsidiary. As a result, San Bartolomé is excluded from consolidated operating statistics for all periods presented unless otherwise noted.

Average Spot Prices

2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Average Silver Spot Price Per Ounce $ 16.53 $ 16.77 $ 16.73 $ 16.84 $ 17.21 Average Gold Spot Price Per Ounce $ 1,306 $ 1,329 $ 1,275 $ 1,278 $ 1,257 Average Silver to Gold Spot Equivalence 79:1 79:1 76:1 76:1 73:1 COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) Three months ended Six months ended June 30, June 30, 2018 2017 2018 2017 In thousands, except share data Revenue $ 169,987 $ 149,540 $ 333,254 $ 335,094 COSTS AND EXPENSES Costs applicable to sales(1)

108,246

102,229

207,586

216,719 Amortization 29,459 30,734 60,236 69,427 General and administrative 7,650 7,025 16,454 17,150 Exploration 6,429 7,813 13,112 13,065 Pre-development, reclamation, and other 3,620 4,085 7,845 7,922 Total costs and expenses

155,404

151,886

305,233

324,283 OTHER INCOME (EXPENSE), NET Gain (loss) on debt extinguishment — (9,342 ) — (9,342 ) Fair value adjustments, net (2,462 ) 336 2,192 (864 ) Interest expense, net of capitalized interest (6,018 ) (3,744 ) (11,983 ) (7,323 ) Other, net

544

3,974

1,057

24,773 Total other income (expense), net

(7,936

) (8,776 )

(8,734

) 7,244 Income (loss) before income and mining taxes 6,647 (11,122 ) 19,287 18,055 Income and mining tax (expense) benefit (3,717 ) 1,127 (15,666 ) (9,751 ) Income (loss) from continuing operations $ 2,930 $ (9,995 ) $ 3,621 $ 8,304 Income (loss) from discontinued operations — (960 ) 550 (596 ) NET INCOME (LOSS) $ 2,930 $ (10,955 ) $ 4,171 $ 7,708 OTHER COMPREHENSIVE INCOME (LOSS), net of tax: Unrealized gain (loss) on debt and equity securities (87 ) (18 ) (365 ) (2,200 ) Reclassification adjustments for impairment of equity securities — 305 — 426 Reclassification adjustments for realized (gain) loss on sale of equity securities — (203 ) — 1,268 Other comprehensive income (loss) (87 ) 84 (365 ) (506 ) COMPREHENSIVE INCOME (LOSS) $ 2,843 $ (10,871 ) $ 3,806 $ 7,202 NET INCOME (LOSS) PER SHARE Basic income (loss) per share: Net income (loss) from continuing operations $ 0.02 $ (0.06 ) $ 0.02 $ 0.05 Net income (loss) from discontinued operations 0.00 (0.01 ) 0.00 0.00 Basic(2) $ 0.02 $ (0.06 ) $ 0.02 $ 0.04 Diluted income (loss) per share: Net income (loss) from continuing operations $ 0.02 $ (0.06 ) $ 0.02 $ 0.05 Net income (loss) from discontinued operations 0.00 (0.01 ) 0.00 0.00 Diluted(2) $ 0.02 $ (0.06 ) $ 0.02 $ 0.04 (1) Excludes amortization. (2) Due to rounding, the sum of net income per share from continuing operations and discontinued operations may not equal net income per share. COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Three months ended Six months ended June 30, June 30, 2018 2017 2018 2017 In thousands CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 2,930 $ (10,955 ) $ 4,171 $ 7,708 (Income) loss from discontinued operations — 960 (550 ) 596 Adjustments: Amortization 29,459 30,734 60,236 69,427 Accretion

3,886

2,312

7,204

4,552 Deferred taxes (1,265 ) (3,636 ) (811 ) (1,052 ) Loss (gain) on debt extinguishment — 9,342 — 9,342 Fair value adjustments, net

2,462

(336 )

(2,192

)

864 Stock-based compensation 1,850 2,235 4,636 5,542 Gain on sale of the Joaquin project — — — (21,138 ) Other

2,174

(3,421 )

2,242

(5,317 ) Changes in operating assets and liabilities: Receivables

(8,888

) (2,215 )

(10,579

) 3,465 Prepaid expenses and other current assets 8,126 4,061 2,491 (845 ) Inventory and ore on leach pads (2,766 ) (4,809 ) (11,474 ) 10,362 Accounts payable and accrued liabilities (39,262 ) (167 ) (41,127 ) (15,466 ) CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS (1,294 ) 24,105 14,247 68,040 CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES OF DISCONTINUED OPERATIONS — 5,175 (2,690 ) 16,510 CASH PROVIDED BY OPERATING ACTIVITIES (1,294 ) 29,280 11,557 84,550 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (41,165 ) (37,107 ) (83,510 ) (60,698 ) Proceeds from the sale of assets

436

156

15,455 Purchase of investments

(8,948 )

(400

) (9,964 ) Sale of investments

11,141

898

12,760

10,918 Other

(33

)

(52

)

(98

)

(66

) CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES OF CONTINUING OPERATIONS (30,000 )

(44,773

) (71,092 )

(44,355

) CASH USED IN INVESTING ACTIVITIES OF DISCONTINUED OPERATIONS — (375 ) (28,470 ) (763 ) CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (30,000 )

(45,148

) (99,562 )

(45,118

) CASH FLOWS FROM FINANCING ACTIVITIES: Issuance of notes and bank borrowings, net of issuance costs — 244,958 15,000 244,958 Payments on debt, capital leases, and associated costs (4,373 ) (188,910 ) (22,822 ) (192,116 ) Other (233 ) (473 ) (4,839 ) (3,720 ) CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES OF CONTINUING OPERATIONS (4,606 ) 55,575 (12,661 ) 49,122 CASH USED IN FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS — (21 ) (22 ) (41 ) CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (4,606 ) 55,554 (12,683 ) 49,081 Effect of exchange rate changes on cash and cash equivalents (175 ) 328 382 884 INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (36,075 )

40,014

(100,306 )

89,397

Less net cash provided by (used in) discontinued operations(1) — (338 ) (32,930 ) 5,189 (36,075 )

40,352

(67,376 )

84,208

Cash, cash equivalents and restricted cash at beginning of period 172,101 170,457 203,402 126,601 Cash, cash equivalents and restricted cash at end of period $ 136,026 $

210,809

$ 136,026 $

210,809

(1) Less net cash provided by (used in) discontinued operations includes the following cash transactions: net subsidiary payments to parent company of $5,117 for the three months ended June 30, 2017 and $1,748 and $10,517 during the six months ended June 30, 2018 and 2017, respectively. COEUR MINING, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2018 (unaudited) December 31, 2017 ASSETS In thousands, except share data CURRENT ASSETS Cash and cash equivalents $ 123,539 $ 192,032 Receivables

40,759

19,069 Inventory 62,154 58,230 Ore on leach pads 75,261 73,752 Prepaid expenses and other

11,925

15,053 Assets held for sale — 91,421 313,638 449,557 NON-CURRENT ASSETS Property, plant and equipment, net 273,337 254,737 Mining properties, net 861,379 829,569 Ore on leach pads 70,043 65,393 Restricted assets 21,635 20,847 Equity and debt securities 23,804 34,837 Receivables 53,046 28,750 Other

19,022

17,485 TOTAL ASSETS $

1,635,904

$ 1,701,175 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable $ 53,428 $ 48,592 Accrued liabilities and other 61,664 94,930 Debt 21,745 30,753 Reclamation 3,777 3,777 Liabilities held for sale — 50,677 140,614 228,729 NON-CURRENT LIABILITIES Debt 397,974 380,569 Reclamation 121,264 117,055 Deferred tax liabilities 102,626 105,148 Other long-term liabilities 54,655 54,697 676,519 657,469 STOCKHOLDERS’ EQUITY

Common stock, par value $0.01 per share; authorized

300,000,000 shares, 187,074,029 issued and outstanding

at June 30, 2018 and 185,637,724 at December 31, 2017

1,871 1,856 Additional paid-in capital 3,357,318 3,357,345 Accumulated other comprehensive income (loss) (450 ) 2,519 Accumulated deficit

(2,539,968

) (2,546,743 )

818,771

814,977 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $

1,635,904

$ 1,701,175

Adjusted EBITDA Reconciliation

(Dollars in thousands except per share amounts) LTM 2Q 2018 2Q 2018 1Q 2018 4Q 2017 3Q 2017 LTM 2Q 2017 2Q 2017 Net income (loss) $ (4,856 ) $ 2,930 $ 1,241 $ 7,625 $ (16,652 ) $ 68,959 $ (10,955 ) (Income) loss from discontinued operations, net of tax 11,098 — (550 ) 6,724 4,924 (24,859 ) 960 Interest expense, net of capitalized interest 21,100 6,018 5,965 5,522 3,595 22,234 3,744 Income tax provision (benefit) 34,912 3,717 11,949 4,957 14,289 (26,137 ) (1,126 ) Amortization 137,359 29,459 30,777 44,722 32,401 124,094 30,733 EBITDA 199,613 42,124 49,382 69,550 38,557 164,291 23,356 Fair value adjustments, net (2,192 ) 2,462 (4,654 ) — — 171 (336 ) Impairment of equity and debt securities — — — — — 1,109 305 Foreign exchange (gain) loss 4,690 3,309 670 672 39 3,153 (786 ) Gain on sale of Joaquin project — — — — — (21,138 ) — (Gain) loss on sale of assets and securities (1,897 ) (586 ) 241 499 (2,051 ) (5,570 ) (513 ) Gain on repurchase of Rochester royalty — — — — — (2,332 ) (2,332 ) Loss on debt extinguishment — — — — — 30,707 9,342

Mexico inflation adjustment

(1,939 ) (1,939 ) — — — — — Transaction costs 3,757 — — 2,938 819 27 — Interest income on notes receivables

(821

) (573 ) (248 )

—

— — Asset retirement obligation accretion 10,184 2,817 2,669 2,475 2,223 8,227 2,169 Inventory adjustments and write-downs 3,000 817 1,126 885 659 5,185 715 Adjusted EBITDA $

214,395

$ 48,431 $ 49,186 $

77,019

$ 40,246 $ 183,830 $ 31,920 Revenue $ 707,758 $ 169,987 $ 163,267 $ 214,585 $ 159,919 $ 623,060 $ 149,540 Adjusted EBITDA Margin 30 % 28 % 30 % 36 % 25 % 30 % 21 %

Adjusted Net Income (Loss) Reconciliation

(Dollars in thousands except per share amounts) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Net income (loss) $ 2,930 $ 1,241 $ 7,625 $ (16,652 ) $ (10,955 ) (Income) loss from discontinued operations, net of tax — (550 ) 6,724 4,924 960 Fair value adjustments, net 2,462 (4,654 ) — — (336 ) Impairment of equity and debt securities — — — — 305 (Gain) loss on sale of assets and securities (586 ) 241 499 (2,051 ) (513 ) Gain on repurchase of Rochester royalty — — — — (2,332 ) (Gain) loss on debt extinguishment — — — — 9,342

Mexico inflation adjustment

(1,939 ) — — — — Transaction costs — — 2,938 819 — Interest income on notes receivables (573 ) (248 )

—

— — Foreign exchange loss (gain) (1,233 ) 4,312 (3,643 ) (1,392 ) 2,186 Tax effect of adjustments(1) — — — (991 ) — Adjusted net income (loss) $ 1,061 $ 342 $

14,143

$ (15,343 ) $ (1,343 ) Adjusted net income (loss) per share - Basic $ 0.01 $ 0.00 $ 0.08 $ (0.09 ) $ (0.01 ) Adjusted net income (loss) per share - Diluted $ 0.01 $ 0.00 $ 0.08 $ (0.09 ) $ (0.01 )

Consolidated Free Cash Flow Reconciliation

(Dollars in thousands) 2Q 2018 1Q 2018 4Q 2017 3Q 2017 2Q 2017 Cash flow from continuing operations $ (1,294 ) $ 15,541 $ 91,811 $ 37,308 $ 24,105 Capital expenditures from continuing operations 41,165 42,345 47,054 28,982 37,107 Free cash flow (42,459 ) (26,804 ) 44,757 8,326 (13,002 ) Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended June 30, 2018 Silver Gold Total In thousands except per ounce amounts Palmarejo Rochester Total Kensington Wharf Total Costs applicable to sales, including amortization (U.S. GAAP) $

44,943

$ 29,244 $

74,187

$ 40,668 $ 22,611 $ 63,279 $

137,466

Amortization 14,633 4,793 19,426 6,441 3,353 9,794 29,220 Costs applicable to sales $

30,310

$ 24,451 $

54,761

$ 34,227 $ 19,258 $ 53,485 $

108,246

Silver equivalent ounces sold 3,964,208 1,819,072 5,783,280 8,870,100 Gold equivalent ounces sold 28,165 23,282 51,447 Costs applicable to sales per ounce $

7.65

$ 13.44 $

9.47

$ 1,215 $ 827 $ 1,040 $

12.20

Inventory adjustments (0.01 ) (0.08 ) (0.03 ) (20 ) (3 ) (12 ) (0.09 ) Adjusted costs applicable to sales per ounce $

7.64

$ 13.36 $

9.44

$ 1,195 $ 824 $ 1,028 $

12.11

Costs applicable to sales per average spot ounce $

6.65

$ 11.94 $

8.29

10.15

Inventory adjustments (0.01 ) (0.07 ) (0.03 ) (0.08 ) Adjusted costs applicable to sales per average spot ounce $

6.64

$ 11.87 $

8.26

10.07

Costs applicable to sales $

108,246

Treatment and refining costs 1,046 Sustaining capital 28,571 General and administrative 7,650 Exploration 6,429 Reclamation 4,667 Project/pre-development costs

517

All-in sustaining costs $

157,126

Silver equivalent ounces sold 5,783,280 Kensington and Wharf silver equivalent ounces sold 3,086,820 Consolidated silver equivalent ounces sold 8,870,100 All-in sustaining costs per silver equivalent ounce $

17.71

Inventory adjustments $ (0.09 ) Adjusted all-in sustaining costs per silver equivalent ounce $

17.62

Consolidated silver equivalent ounces sold (average spot)

10,667,074

All-in sustaining costs per average spot silver equivalent ounce $

14.73

Inventory adjustments $ (0.08 ) Adjusted all-in sustaining costs per average spot silver equivalent ounce $

14.65

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended March 31, 2018 Silver Gold Total In thousands except per ounce amounts Palmarejo Rochester Total Kensington Wharf Total Costs applicable to sales, including amortization (U.S. GAAP) $ 47,421 $ 29,136 $ 76,557 $ 35,347 $ 17,966 $ 53,313 $ 129,870 Amortization 16,325 4,831 21,156 6,717 2,657 9,374 30,530 Costs applicable to sales $ 31,096 $ 24,305 $ 55,401 $ 28,630 $ 15,309 $ 43,939 $ 99,340 Silver equivalent ounces sold 3,883,983 1,789,007 5,672,990 8,390,090 Gold equivalent ounces sold 27,763 17,522 45,285 Costs applicable to sales per ounce $ 8.01 $ 13.59 $ 9.77 $ 1,031 $ 874 $ 970 $ 11.84 Inventory adjustments — (0.26 ) (0.08 ) (21 ) (4 ) (15 ) (0.13 ) Adjusted costs applicable to sales per ounce $ 8.01 $ 13.33 $ 9.69 $ 1,010 $ 870 $ 955 $ 11.71 Costs applicable to sales per average spot ounce $ 6.94 $ 12.13 $ 8.55 $ 9.87 Inventory adjustments — (0.24 ) (0.07 ) (0.11 ) Adjusted costs applicable to sales per average spot ounce $ 6.94 $ 11.89 $ 8.48 $ 9.76 Costs applicable to sales $ 99,340 Treatment and refining costs 1,195 Sustaining capital 23,389 General and administrative 8,804 Exploration 6,683 Reclamation 4,532 Project/pre-development costs 1,421 All-in sustaining costs $ 145,364 Silver equivalent ounces sold 5,672,990 Kensington and Wharf silver equivalent ounces sold 2,717,100 Consolidated silver equivalent ounces sold 8,390,090 All-in sustaining costs per silver equivalent ounce $ 17.33 Inventory adjustments $ (0.13 ) Adjusted all-in sustaining costs per silver equivalent ounce $ 17.20 Consolidated silver equivalent ounces sold (average spot) 10,066,759 All-in sustaining costs per average spot silver equivalent ounce $ 14.44 Inventory adjustments $ (0.11 ) Adjusted all-in sustaining costs per average spot silver equivalent ounce $ 14.33 Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended December 31, 2017

Silver Gold Total In thousands except per ounce amounts Palmarejo Rochester Endeavor Total Kensington Wharf Total Costs applicable to sales, including amortization (U.S. GAAP) $ 58,775 $ 41,006 $ — $ 99,781 $ 42,640 $ 24,033 $ 66,673 $ 166,454 Amortization 22,749 6,960 — 29,709 10,633 4,129 14,762 44,471 Costs applicable to sales $ 36,026 $ 34,046 $ — $ 70,072 $ 32,007 $ 19,904 $ 51,911 $ 121,983 Silver equivalent ounces sold 4,680,802 2,657,975 — 7,338,777 11,232,057 Gold equivalent ounces sold 35,633 29,255 64,888 Costs applicable to sales per ounce $ 7.70 $ 12.81 $ — $ 9.55 $ 898 $ 680 $ 800 $ 10.86 Inventory adjustments (0.16 ) (0.04 ) — (0.12 ) (2 ) 2 — (0.08 ) Adjusted costs applicable to sales per ounce $ 7.54 $ 12.77 $ — $ 9.43 $ 896 $ 682 $ 800 $ 10.78 Costs applicable to sales per average spot ounce $ 6.78 $ 11.41 $ 8.45 $ 9.21 Inventory adjustments (0.14 ) (0.04 ) (0.10 ) (0.07 ) Adjusted costs applicable to sales per average spot ounce $ 6.64 $ 11.37 $ 8.35 $ 9.14 Costs applicable to sales $ 121,983 Treatment and refining costs 1,600 Sustaining capital 18,520 General and administrative 9,120 Exploration 7,455 Reclamation 4,075 Project/pre-development costs 578 All-in sustaining costs $ 163,331 Silver equivalent ounces sold 7,338,777 Kensington and Wharf silver equivalent ounces sold 3,893,280 Consolidated silver equivalent ounces sold 11,232,057 All-in sustaining costs per silver equivalent ounce $ 14.53 Inventory adjustments $ (0.08 ) Adjusted all-in sustaining costs per silver equivalent ounce $ 14.45 Consolidated silver equivalent ounces sold (average spot) 13,246,634 All-in sustaining costs per average spot silver equivalent ounce $ 12.33 Inventory adjustments $ (0.07 ) Adjusted all-in sustaining costs per average spot silver equivalent ounce $ 12.26 Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended September 30, 2017 Silver Gold Total In thousands except per ounce amounts Palmarejo Rochester Endeavor Total Kensington Wharf Total Costs applicable to sales, including amortization (U.S. GAAP) $ 49,669 $ 27,866 $ 59 $ 77,594 $ 35,522 $ 20,553 $ 56,075 $ 133,669 Amortization 16,414 4,591 20 21,025 7,864 3,223 11,087 32,112 Costs applicable to sales $ 33,255 $ 23,275 $ 39 $ 56,569 $ 27,658 $ 17,330 $ 44,988 $ 101,557 Silver equivalent ounces sold 3,386,963 1,673,704 8,027 5,068,694 8,264,174 Gold equivalent ounces sold 29,173 24,085 53,258 Costs applicable to sales per ounce $ 9.82 $ 13.91 $ 4.86 $ 11.16 $ 948 $ 720 $ 845 $ 12.29 Inventory adjustments (0.06 ) (0.22 ) — (0.11 ) (2 ) (1 ) (2 ) (0.08 ) Adjusted costs applicable to sales per ounce $ 9.76 $ 13.69 $ 4.86 $ 11.05 $ 946 $ 719 $ 843 $ 12.21 Costs applicable to sales per average spot ounce $ 8.73 $ 12.66 $ 10.00 $ 10.47 Inventory adjustments (0.05 ) (0.20 ) (0.10 ) (0.07 ) Adjusted costs applicable to sales per average spot ounce $ 8.68 $ 12.46 $ 9.90 $ 10.40 Costs applicable to sales $ 101,557 Treatment and refining costs 1,408 Sustaining capital 18,126 General and administrative 7,345 Exploration 9,792 Reclamation 3,915 Project/pre-development costs 1,979 All-in sustaining costs $ 144,122 Silver equivalent ounces sold 5,068,694 Kensington and Wharf silver equivalent ounces sold 3,195,480 Consolidated silver equivalent ounces sold 8,264,174 All-in sustaining costs per silver equivalent ounce $ 17.43 Inventory adjustments $ (0.08 ) Adjusted all-in sustaining costs per silver equivalent ounce $ 17.35 Consolidated silver equivalent ounces sold (average spot) 9,698,654 All-in sustaining costs per average spot silver equivalent ounce $ 14.86 Inventory adjustments $ (0.07 ) Adjusted all-in sustaining costs per average spot silver equivalent ounce $ 14.79 Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended June 30, 2017 Silver Gold Total In thousands except per ounce amounts Palmarejo Rochester Endeavor Total Kensington Wharf Total Costs applicable to sales, including amortization (U.S. GAAP) $ 48,325 $ 29,099 $ 586 $ 78,010 $ 36,335 $ 18,317 $ 54,652 $ 132,662 Amortization 14,431 4,938 168 19,537 8,347 2,549 10,896 30,433 Costs applicable to sales $ 33,894 $ 24,161 $ 418 $ 58,473 $ 27,988 $ 15,768 $ 43,756 $ 102,229 Silver equivalent ounces sold 2,995,623 1,774,000 59,234 4,828,857 7,860,417 Gold equivalent ounces sold 29,031 21,495 50,526 Costs applicable to sales per ounce $ 11.31 $ 13.62 $ 7.06 $ 12.11 $ 964 $ 734 $ 866 $ 13.01 Inventory adjustments (0.10 ) (0.08 ) — (0.09 ) (12 ) 3 (6 ) (0.09 ) Adjusted costs applicable to sales per ounce $ 11.21 $ 13.54 $ 7.06 $ 12.02 $ 952 $ 737 $ 860 $ 12.92 Costs applicable to sales per average spot ounce $ 10.20 $ 12.63 $ 11.04 $ 11.38 Inventory adjustments (0.09 ) (0.07 ) (0.08 ) (0.08 ) Adjusted costs applicable to sales per average spot ounce $ 10.11 $ 12.56 $ 10.96 $ 11.30 Costs applicable to sales $ 102,229 Treatment and refining costs 1,288 Sustaining capital 17,173 General and administrative 7,025 Exploration 7,813 Reclamation 3,581 Project/pre-development costs 1,677 All-in sustaining costs $ 140,786 Silver equivalent ounces sold 4,828,857 Kensington and Wharf silver equivalent ounces sold 3,031,560 Consolidated silver equivalent ounces sold 7,860,417 All-in sustaining costs per silver equivalent ounce $ 17.90 Inventory adjustments $ (0.09 ) Adjusted all-in sustaining costs per silver equivalent ounce $ 17.81 Consolidated silver equivalent ounces sold (average spot) 8,990,166 All-in sustaining costs per average spot silver equivalent ounce $ 15.66 Inventory adjustments $ (0.08 ) Adjusted all-in sustaining costs per average spot silver equivalent ounce $ 15.58 Reconciliation of All-in Sustaining Costs per 60:1 Silver Equivalent Ounce for 2018 Guidance Silver Gold In thousands except per ounce amounts Palmarejo Rochester Silvertip Total Silver Kensington Wharf Total Gold Total Combined Costs applicable to sales, including amortization (U.S. GAAP) $ 200,000 $ 116,300 $

55,600

371,900

$ 146,100 $ 89,700 $ 235,800 $

607,700

Amortization 65,000 18,900

14,000

97,900

40,400 12,100 52,500

150,400

Costs applicable to sales $ 135,000 $ 97,400 $

41,600

274,000

$ 105,700 $ 77,600 $ 183,300 $

457,300

Silver equivalent ounces sold

14,800,000

7,300,000

2,700,000

24,800,000

37,100,000

Gold equivalent ounces sold 117,500 87,500 205,000 Costs applicable to sales per ounce $9.00 - $9.50 $13.25 - $13.75 $15.00 - $15.50 $900 - $950 $850 - $900 Costs applicable to sales $

457,300

Treatment and refining costs

9,000

Sustaining capital, including capital lease payments 105,000 General and administrative 33,000 Exploration

26,000

Reclamation 15,700 Project/pre-development costs 2,900 All-in sustaining costs $

648,900

Silver equivalent ounces sold

24,800,000

Kensington and Wharf silver equivalent ounces sold 12,300,000 Consolidated silver equivalent ounces sold

37,100,000

All-in sustaining costs per silver equivalent ounce $17.25 - $17.75 Reconciliation of All-in Sustaining Costs per Spot Silver Equivalent Ounce for 2018 Guidance Silver Gold In thousands except per ounce amounts Palmarejo Rochester Silvertip Total Silver Kensington Wharf Total Gold Total Combined Costs applicable to sales, including amortization (U.S. GAAP) $ 200,000 $ 116,300 $

55,600

371,900

$ 146,100 $ 89,700 $ 235,800 $

607,700

Amortization 65,000 18,900

14,000

97,900

40,400 12,100 52,500

150,400

Costs applicable to sales $ 135,000 $ 97,400 $

41,600

274,000

$ 105,700 $ 77,600 $ 183,300 $

457,300

Silver equivalent ounces sold

16,400,000

8,012,500

3,350,000

27,762,500

45,137,500

Gold equivalent ounces sold 117,500 87,500 205,000 Costs applicable to sales per ounce $8.00 - $8.50 $12.00 - $12.50 $12.00 - $12.50 $900 - $950 $850 - $900 Costs applicable to sales $

457,300

Treatment and refining costs

9,000

Sustaining capital, including capital lease payments 105,000 General and administrative 33,000 Exploration

26,000

Reclamation 15,700 Project/pre-development costs 2,900 All-in sustaining costs $

648,900

Silver equivalent ounces sold

27,762,500

Kensington and Wharf silver equivalent ounces sold 15,375,000 Consolidated silver equivalent ounces sold

43,137,500

All-in sustaining costs per silver equivalent ounce $14.75 - $15.25