CDE Coeur Mining Inc

Coeur Fully Committed to Acquisition of Wheaton River Parties Negotiate Postponement of Silver Wheaton Closing COEUR d'ALENE, Idaho, Sept. 7 /PRNewswire-FirstCall/ -- Coeur d'Alene Mines Corporation (NYSE:CDE) is committed to the acquisition of Wheaton River Minerals Ltd. (TSX: WRM, Amex: WHT) and will continue to pursue its offer to purchase all of the outstanding common shares of Wheaton River directly from Wheaton River shareholders. In response to the Wheaton River Board's latest recommendation to the company's shareholders, Dennis E. Wheeler, Chairman and Chief Executive Officer of Coeur, stated, "We continue to receive support for Coeur's offer from Wheaton River shareholders because of its significant premium, substantial cash component and enhanced growth platform. Accordingly, we have taken our offer directly to Wheaton River shareholders. We remain committed to completing the transaction so that we can begin to deliver the benefits of the combination to shareholders of both Wheaton River and Coeur." Coeur's offer provides Wheaton River shareholders with significant value, including: * a premium of 38% over Wheaton River's closing stock price on May 27, 2004, the date of Coeur's initial proposal; * a premium of approximately 17% over Wheaton River's closing stock price of Cdn$3.51 per share on September 3, 2004;(1) and * a minimum of Cdn$1.00 per share in cash, representing over 24% of the total offer consideration.(1) The combination of Coeur and Wheaton River will provide significant strategic and financial benefits. The combined company will be the world's leading primary silver producer, a significant gold producer and the fourth largest precious metals company in North America. The combined Coeur-Wheaton River will have a solid growth platform with significant development projects in both North and South America. In addition, Coeur has one of the most experienced management teams in the industry with over 400 years of collective experience in the exploration, development and operation of mines around the world. The combined company is expected to generate significant free cash flow and will have a strong balance sheet and access to capital markets to finance growth. The combined company will also be one of the most liquid precious metals stocks in North America. On September 3, 2004, Wheaton River agreed with Coeur to postpone the closing of the Silver Wheaton transaction. Mr. Wheeler noted, "We are pleased that the negotiations between the parties resulted in the postponement of the closing of the Silver Wheaton transaction until October 15. We have consistently said that it is in the best interest of Wheaton River shareholders for Wheaton River to postpone the closing of the Silver Wheaton transaction until after the expiration of Coeur's offer. We are pleased that Wheaton River's Board has now listened to its shareholders, and to Coeur, and agreed to a postponement." Coeur has established September 30, 2004 as the deadline for receipt of shares to be deposited by Wheaton River shareholders under the terms of the offer. A vote to approve the transaction by Coeur shareholders will be held on September 30, 2004 in Coeur d'Alene, Idaho. The transaction is expected to close as soon as practicable after the acceptance of the offer by Wheaton River shareholders and approval of the transaction by Coeur shareholders. CIBC World Markets Inc. and J.P. Morgan Securities Inc. are acting as dealer managers for the offer Wheaton River shareholders can obtain more information about the offer by contacting MacKenzie Partners, Inc., which is serving as information agent, by calling (800) 322-2885 (toll-free) or (212) 929-5500 (collect). Coeur d'Alene Mines Corporation is the world's largest primary silver producer, as well as a significant, low-cost producer of gold. The Company has mining interests in Nevada, Idaho, Alaska, Argentina, Chile and Bolivia. Cautionary Statement This document contains numerous forward-looking statements relating to the Company's silver and gold mining business. Such forward-looking statements include the statements above as to the impact of the proposed acquisition on both the combined entity and the Company's shareholders. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the Company's control. These include negotiation and completion of a formal transaction agreement, governmental regulatory processes, the Company's ability to successfully integrate the operations of Wheaton River, assumptions with respect to future revenues, expected mining program performance and cash flows and the outcome of contingencies. Operating, exploration and financial data, and other statements in this document are based on information the company believes reasonable, but involve significant uncertainties as to future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, the completion and/or updating of mining feasibility studies, changes that could result from the Company's future acquisition of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries, as well as other uncertainties and risk factors set out in the Company's filings from time to time with the SEC, including, without limitation, the Company's reports on Form 10-K and Form 10-Q. Actual results and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. This communication is neither an offer to purchase nor a solicitation of an offer to sell shares of Wheaton River or Coeur. Coeur's offer to purchase is being made to Wheaton River shareholders only pursuant to tender offer material as required by applicable law. This communication also is not a solicitation of proxies from any securities holder of Coeur or Wheaton River. Coeur has filed with the U.S. Securities and Exchange Commission a Registration Statement on Form S-4 and a Schedule TO and has filed the Canadian offer materials with Canadian securities regulators. Coeur also has filed a registration statement on Form S-4 which contains a combined proxy statement/prospectus relating to a special meeting of Coeur shareholders to consider certain matters relating to the proposed Coeur-Wheaton River combination and includes information regarding the participants in the related proxy solicitation. YOU ARE URGED TO READ THE REGISTRATION STATEMENT, THE SCHEDULE TO, THE OFFER AND CIRCULAR MAILED TO CANADIAN SHAREHOLDERS AND ANY OTHER RELEVANT DOCUMENTS, INCLUDING PROXY MATERIALS, FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. You can obtain such materials, and any amendments and supplements thereto, (as they become available) without charge at the SEC's website, http://www.sec.gov/ (for materials filed with the SEC) and on SEDAR, http://www.sedar.com/ (for materials filed with Canadian securities regulators). In addition, you may obtain offer materials and any related proxy statement/prospectus (as they become available) materials and the other documents filed by Coeur with the SEC and the Canadian securities regulators by requesting them in writing from, 400 Coeur d'Alene Mines Building, 505 Front Avenue, Coeur d'Alene, Idaho 83814, Attn: Investor Relations, tel: (208) 667-3511. (1) Assuming 568,220,638 Wheaton River common shares are outstanding as of May 27, 2004, the date Coeur initially announced its proposal, and that holders of all of those shares elect to receive cash, proration would result in per share consideration of Cdn$1.00 in cash and 0.650 Coeur shares, or a total of Cdn$4.09 per Wheaton River share based upon closing stock prices on September 3, 2004 and a currency exchange rate of Cdn$0.77 per US$. DATASOURCE: Coeur d'Alene Mines Corporation CONTACT: James A. Sabala, Chief Financial Officer, +1-208-769-8152, or Mitchell J. Krebs, Vice President Of Corporate Development, +1-773-255-9808, or Tony Ebersole, Investor Relations, 1-800-523-1535, all of Coeur d'Alene Mines Corporation; or Judith Wilkinson or Matthew Sherman, both of Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for Coeur d'Alene Mines Corporation; or Dan Burch or Steve Balet, MacKenzie Partners, Inc., +1-212-929-5500, for Coeur d'Alene Mines Corporation

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