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Hecla Mining Announces Second Quarter 2024 Production; 10% increase in silver production over year-to-date 2023

10% increase in silver production over year-to-date 2023

Hecla Mining Company (NYSE:HL) today announced its preliminary production results for the second quarter of 2024.

HIGHLIGHTS

Year to Date (“YTD”) 2024 compared to YTD 2023

  • 10% increase in silver production
  • Keno Hill produced 1.5 million ounces of silver, with milled throughput of 341 tons per day (“tpd”) YTD and 406 tpd in the second quarter
  • Record quarterly throughput at Lucky Friday of 1,181 tpd
  • 4% increase in Casa Berardi’s gold production

“Hecla produced 4.5 million silver ounces during the quarter, an increase of 6% over the prior quarter, reflecting a full quarter of production at Lucky Friday with record throughput, improved throughput at Keno Hill and another solid performance by Greens Creek,” said Cassie Boggs, Interim President and CEO. “At Keno Hill we continue to focus on improving the safety culture and environmental performance, positioning the mine for long term success and while our actions are starting to show positive results, more work is required at this operation. We are also in contact with and continue to monitor the positions of First Nation of Na-Cho Nyäk Dun, on whose Traditional Territory Keno Hill is partly located.”

Boggs continued, “With Keno Hill’s expected silver production to exceed 2.7 million ounces this year, Hecla is on track to produce about 17 million ounces in 2024, a nearly 20% growth rate from 2023, making Hecla the fastest growing established silver producer with production growth in the best geographical regions.”

OPERATIONS

Greens Creek

Greens Creek produced 2.2 million ounces of silver and 14,137 ounces of gold in the second quarter, a decrease of 9% and 3%, respectively, compared to the first quarter, while processing 2,481 tpd. Silver production declined primarily due to grades reverting to plan resulting in a decrease of 6% compared to the first quarter, as well as slightly lower throughput.

Lucky Friday

Lucky Friday produced 1.3 million ounces of silver in the quarter, an increase of 23% over the first quarter, reflecting a full quarter of production compared to the first quarter when production resumed on January 9. Mill throughput was a quarterly record at 1,181 tpd, as the mine continues to see the benefit of investment in infrastructure and the UCB mining method. The Company collected $17.8 million in insurance proceeds during the quarter with total proceeds to date at $35.2 million of the $50 million policy sub-limit.

Casa Berardi

Casa Berardi produced 23,187 ounces of gold in the second quarter, an increase of 5% compared to the first quarter. Increased production during the quarter resulted from improved grades and recoveries, partly offset by lower throughput. The mill operated at an average of 4,033 tpd during the quarter.

Keno Hill

Keno Hill produced 900,440 ounces of silver, an increase of 39% compared with the 646,312 ounces produced in the first quarter. The increased production was due to higher and more consistent mill throughput that averaged 406 tpd, a 47% improvement over the first quarter. Silver grade was strong for the quarter averaging 25.1 ounces per ton.

While the Company’s focus on improving safety and environmental processes has delivered increased operational consistency, additional investment in infrastructure and continued focus on safety, environmental, permitting and mining practices, as well as relations with First Nation of Na-Cho Nyäk Dun remain key to delivering long term value at this operation.

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