Positive Exploration Results At The Kensington Underground Mine

CHICAGO, IL - Coeur Mining, Inc. reported on the exploration programs at the Kensington underground gold mine in Alaska. At Kensington, 2023 drilling has demonstrated the continuation of all key mineralized structures to the south and down dip. In addition, new sub-parallel mineralized structures have been discovered. The Company has completed approximately 40% of its planned 2023 exploration drilling program and roughly 55% of its planned 2023 underground mine development program, which has led to approximately 2,500 feet of additional mineralized strike length. These most recent positive developments from Kensington’s multi-year exploration drilling and development program follows the successful addition of 1.5 years of mine life in 2022, net of depletion, the first such mine life addition at Kensington since 2018. Coeur expects to invest approximately $80 million in this four year plan.

Mineralization extended at Lower Kensington – Drilling along strike at Lower Kensington has intersected some of the best grade thickness ever encountered at Kensington, extending mineralization by over 760 feet so far this year. In addition, drilling is beginning to define a new hanging-wall splay and a series of mineralized linking structures. The intersections between the main structures, the splay structures and linking structures are believed to control higher-grade plunging shoots at Kensington. Results shown here are the start of a delineation program on these intersections that will continue through 2023 and into 2024.

“Coeur’s track record of success from its sustained multi-year investment in mostly brownfield exploration to extend mine lives and build a robust pipeline of resources remains a key differentiator for the Company relative to the sector,” said Mitchell J. Krebs, President and Chief Executive Officer. “Kensington’s successful mine life extensions and growing zone continuity highlight the compelling expected returns on investment that can be generated over time by sustaining our commitment to targeted and cost-effective brownfields exploration.”