- Silver production increased and zinc production is steady

COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Hecla Mining Company (NYSE: HL) today announced its preliminary silver and gold production for the first quarter of 2022.1

HIGHLIGHTS

Silver production of 3.3 million ounces, an increase of 3% over the fourth quarter of 2021 due to higher grades mined at Greens Creek.
Gold production of 41,642 ounces.
Lead and Zinc production was in line with the prior quarter.
Silver equivalent production of 9.7 million ounces, gold equivalent production of 123,537 ounces.2
“Hecla, United States’ largest silver producer with the country’s largest reserves, saw solid production from all three operations,” said Hecla’s President and CEO Phillips S. Baker, Jr. “Greens Creek’s production increased due to slightly higher grades. Lucky Friday’s production has now had six quarters with production above 830 thousand ounces, positioning production to grow to over a million ounces a quarter for the remainder of the year. At Casa Berardi, production was as planned with the mill processing more 160 Pit material.”

“Hecla is on track to grow silver production this year and for each of the next two years while also being the United States’ third largest zinc producer. Zinc, like silver, is a critical mineral in the energy transition and is approaching its all-time high price set 15 years ago.”

OPERATIONS

Greens Creek

Greens Creek produced 2.4 million ounces of silver and 11,402 ounces of gold compared to 2.3 million ounces of silver and 10,229 ounces of gold in the prior quarter. The increase in production was primarily due to higher grades. The mill operated at an average of 2,352 tons per day (tpd).

Casa Berardi

Casa Berardi produced 30,240 ounces compared to 37,266 ounces in the prior quarter. The anticipated decrease in production was expected since surface tons are lower grade. The increase in surface tons is from the 160 Pit, which commenced ore production in the fourth quarter of 2021. The mill operated at an average of 4,291 tpd compared to an average of 4,207 tpd in the prior quarter.

Lucky Friday

At the Lucky Friday mine, 888 thousand ounces of silver were produced compared to 955 thousand ounces in the prior quarter. Fewer tons and lower silver grades were mined due to equipment delays that affected mine sequencing. The equipment is being received this quarter. The mill operated at an average of 864 tpd.

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

(2)

Silver and gold equivalent calculation based on average actual prices for each metal in the first quarter as follows: $23.94 for Ag, $1,873.63 for Au, $1.06 for Pb, and $1.70 for Zn.

PRODUCTION SUMMARY
Quarter Ended March 31, 2022 December 31, 2021 % Increase (decrease) PRODUCTION
Silver (oz) 3,324,709 3,226,927 3%

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