Positive Results From Kensington’s Multi-Year Exploration Program

CHICAGO, IL - Coeur Mining, Inc. reported positive results from its multi-year exploration drilling and development program at the Kensington underground gold mine in Southeast Alaska. Kensington consists of multiple deposits including the Kensington, Elmira, Raven, Johnson and numerous other prospective vein zones. In the upper area of the Kensington deposit, previously outlined zones appear to be converging into single, wider mineable areas. The newly discovered Zone 50 in lower Kensington is growing rapidly, resulting in the development of additional exploration drifts to facilitate infill drilling before year-end 2024. At the Elmira deposit, the Main and South zones have now been connected through infill drilling and expansion drilling is intersecting multiple wider zones to the south.

Infill drilling at Elmira is confirming continuity between Elmira Main and Elmira South with notable true width intercepts including:  Hole EL24-1180-095-X07 returned 10.4 feet at 1.00 ounces per ton (“oz/t”) gold (3.17 meters at 34.4 grams per tonne (g/t) gold); Elmira South Zone has been extended along strike by approximately 400 feet (122 m) to date with true width intercepts including: Hole EL23-1060-139-X13 returned 9.4 feet at 0.58 oz/t gold (2.9 meters at 19.7 g/t gold), and Hole EL23-1180-058-X03 returned 1.6 feet at 2.32 oz/t gold (0.5 meters at 79.6 g/t gold); Upper Kensington Zones 30B and 30C appear to be merging into one mineable unit. In addition, a number of potentially new sub-parallel zones are being delineated. In addition, mineralization in the Kensington Main zone has been extended 600 feet along strike  and 125 feet (183 meters) down dip since the year-end 2023 reserve and resource calculations.

At Lower Kensington, the new Zone 50 has grown significantly along strike and down dip. Results have warranted the development of an additional exploration drift to allow expansion and infill drilling before year end 2024. Exciting results from Lower Kensington include the following true width intercepts: Hole K23-0220-147-X03 returned 29.6 feet at 0.41 oz/t gold (9.0 meters at 14.0 g/t gold); Hole K23-0220-091-X12 returned 11.6 feet at 0.70 oz/t gold (3.5 meters at 23.7 g/t gold); and Hole K23-0220-091-X27 returned 7.1 feet at 1.10 oz/t gold (2.2 meters at 37.7g/t gold).

“These results validate the rationale for initiating the multi-year development program in mid-2022, which was to bolster the mine’s operational flexibility and set the stage for significant mine life additions,” said Mitchell J. Krebs, President and Chief Executive Officer. “Following the conclusion of this program in the first half of next year, we expect Kensington to be well-positioned for a return to a sustained period of free cash flow generation and to be an important contributor to Coeur’s U.S.-centric portfolio of long-lived mines in North America.”