Reaffirms Full-Year 2022 Guidance
Chicago, Illinois - May 4, 2022 - Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today
reported first quarter 2022 financial results, including revenue of $188 million and cash flow from
operating activities of $(6) million. The Company reported GAAP net income from continuing operations
of $8 million, or $0.03 per share. On an adjusted basis1
, Coeur reported EBITDA of $42 million, cash
flow from operating activities before changes in working capital of $24 million and net loss from
continuing operations of $14 million, or $0.05 per share.
Key Highlights
• First quarter production on plan and in-line with 2022 guidance – Solid performances at
Palmarejo and Wharf more than offset COVID-19 impacts at Kensington and lower production levels
at Rochester, leading to total production of 75,409 ounces of gold and 2.5 million ounces of silver
• Enhanced liquidity and balance sheet strength – Coeur recently announced multiple initiatives to
bolster its liquidity and balance sheet flexibility, including increased additional downside protection
from gold hedging in 2022 and 2023, expansion of its revolving credit facility (“RCF”) by $90 million
and the completion of its $100 million at-the-market (“ATM”) equity offering
• Rochester expansion project advancing – The Rochester expansion project continued to advance
with construction completion targeted for mid-2023. Coeur has now committed approximately 80% of
the $597 million capital estimate and has incurred roughly $283 million of the estimated total as of the
end of the first quarter
• New discovery at Silvertip highlights recent exploration success – Camp Creek West discovery
holes support the potential for significant additional resource expansion at Silvertip. Recent high-grade
intercepts at Kensington and Palmarejo also demonstrate the potential for further mine life extensions
• Strategic sale of La Preciosa silver project completed – Coeur closed the sale of the La Preciosa
silver project during the quarter for total fixed proceeds of nearly $36 million, including $15 million in
cash, and additional potential contingent consideration of up to $59 million plus two royalties covering
the La Preciosa land package
• Kensington POA 1 key federal authorizations received – The U.S. Forest Service issued the Final
Record of Decision approving Coeur’s proposed amendment to increase tailings and waste rock
storage capacity to accommodate future growth potential at Kensington. Similarly, the Company also
received the U.S. Army Corps of Engineers Record of Decision and Permit
• Updated greenhouse gas (“GHG”) net intensity targets – On April 27, 2022, Coeur published its
2021 ESG Report which included an updated GHG emissions target of a 35% reduction in net intensity by the end of 2024. The Company’s previous goal was a 25% net intensity reduction by 2025
“Coeur delivered first quarter gold and silver production in-line with expectations, and we remain
positioned to meet full-year 2022 guidance,” said Mitchell J. Krebs, President and Chief Executive Officer. “Our site operating teams continue to address industry-wide cost pressures through innovative
business improvement initiatives and efficiency enhancements that have helped to mitigate the impact of global inflation.”
“We’re pleased to report that the pace of development activity at our Rochester POA 11 expansion project continues to accelerate. Nearly 80% of POA 11’s construction budget has been committed, and recentlyannounced liquidity enhancements have provided the funding and flexibility to support our priority of
delivering POA 11 according to plan. Following completion and ramp-up, Rochester is expected to drive a
new growth phase for Coeur, featuring robust precious metals production and free cash flow from an exclusively North American asset base with a large and growing U.S. footprint.”

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