Alexco acquisition is complete, Keno Hill development advancing

COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company (NYSE: HL) today announced its preliminary production results for the third quarter of 2022 and increased silver and gold production guidance.1

HIGHLIGHTS

Silver production of 3.6 million ounces is on track to exceed production guidance
Gold production of 44,747 ounces, in line with the second quarter of 2022 (“prior quarter”)
Keno Hill third quarter development is on plan; approximately 20% of total planned preproduction development is complete
Increasing 2022 production guidance for both silver and gold for Greens Creek
“Hecla reported another strong quarter of operational performance from all three mines as Greens Creek achieved record throughput for the quarter, Lucky Friday’s quarterly production continued to exceed 1 million ounces and the mine has already produced around 90% of last year’s annual production, and Casa Berardi delivered consistent production with the mill continuing the record throughput rates,” said Phillips S. Baker, Jr., President, and CEO. “We also completed the acquisition of Alexco and are advancing Keno Hill development for consistent mill production in 2023.”

Baker continued, “With strong operational performance over the past nine months at all of our operating mines, we are increasing our 2022 production guidance. Our production growth makes Hecla the fastest growing established silver producer, further increasing our leadership as the largest silver producer in the U.S. with the potential to be Canada’s largest silver producer as well.”

OPERATIONS

Greens Creek

At the Greens Creek mine, the mill operated at an average of 2,500 tons per day (tpd), a throughput record, and an increase of 10% over the prior quarter. Silver production was 2.5 million ounces, an increase of 2% over the prior quarter. Gold production was 11,412 ounces, 8% lower than the second quarter of 2022 due to lower grades. Zinc and lead grades declined 13% and 19% respectively due to mine sequencing and heading availability. These lower base metal feed grades resulted in the decision to defer a silver concentrate shipment to October to ensure adequate concentrate volumes for cost-effective shipping.

Lucky Friday

The Lucky Friday mine produced 1.1 million ounces of silver, slightly less than the 1.2 million ounces in the prior quarter. Decreased production was due to lower milled grades and mined tons as new equipment is commissioned and projects are prioritized for increasing future throughput. The mill operated at an average throughput rate of 986 tpd during the quarter, which puts 2022 on track to become mine’s record year for annual throughput and the mine is expected to achieve its silver production guidance for the year.

Casa Berardi

Casa Berardi produced 33,335 ounces of gold, consistent with the production in the prior quarter. The mill operated at an average quarterly throughput of 4,239 tpd with a new record set in September as monthly production throughput reached 4,856 tpd, beating the last monthly record in May of 4,533 tpd.

(1)
See cautionary statement regarding preliminary statements at the end of this release.

PRODUCTION SUMMARY
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