Rochester Has Strongest Performance In Recent Years

CHICAGO, IL - Mitchell J. Krebs, President and Chief Executive Officer of Coeur Mining, Inc. reported that, “A stronger fourth quarter capped off an important year for Coeur in 2022 as we positioned the Company to deliver on a pivotal 2023 composed of several important catalysts, including the mid-year construction completion of the POA 11 expansion project at Rochester. 2022 represented a year of unprecedented global volatility and intensive capital investment by the Company. Decades high inflation, strength in the U.S. dollar and supply chain disruptions made it a challenging year to deliver on many of Coeur’s key priorities. Despite the unique challenges, I am proud that our team achieved our full-year production guidance for the third consecutive year, delivered full-year capital expenditures in-line with our guidance and came in below our full-year G&A guidance range. Even with strong fourth quarter production increases, our costs applicable to sales declined, which is a testament to our team’s ongoing aggressive cost management efforts and effective business improvement initiatives. In addition, I am particularly proud of our team’s safety performance last year, which resulted in all-time Company low incident rates and among the lowest in the industry.

The POA 11 expansion project made tremendous progress during the fourth quarter, while the Rochester operation ended 2022 with one of its strongest quarters in recent years. Rochester’s fourth quarter reflected higher grades placed in the prior quarter as well as the application of many of the important lessons we have generated over the past two years in preparation for the transition to the newly expanded infrastructure later this year.

The year also marked success for reserve replacement, which reflects our ongoing commitment to investing in near-mine exploration. Over the past five years, the Company has invested nearly $245 million in exploration to increase our gold and silver reserves by 21% and 49%, respectively, while boosting measured and indicated resources by 77% for gold and 53% for silver. In particular, early success from Kensington’s multi-year development and drilling program led to a 56% increase in reserves and the addition of one and a half years of mine life. At Silvertip, silver, zinc and lead measured and indicated resources materially increased year-over-year by approximately 73%, 69% and 81%, respectively, excluding reclassified ounces. We expect Silvertip’s resource to continue to expand and support a future potential source of meaningful growth for the Company.”