Coeur Reveals 2024 Mineral Reserves, Palmarejo Update

Coeur Mining

Substantial resource increases at Wharf and Palmarejo

Kensington's reserve-based mine life extended to five years - a doubling in three years

CHICAGO--BUSINESS WIRE--

Coeur Mining, Inc. ("Coeur" or the "Company") (NYSE: CDE) today reported its 2024 year-end mineral reserves and resources, and provided an update on the 2024 exploration program at its Palmarejo operation. Year-end 2024 proven and probable mineral reserves totaled 3.6 million ounces of gold and 270.5 million ounces of silver, which reflects a 22% year-over-year increase in gold reserves at Kensington and the inclusion of silver and gold ounces from the recently-acquired Las Chispas operation.

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Figure 1: Palmarejo district map </div> <p>Measured and indicated mineral resources totaled 3.7 million ounces of gold, 198.9 million ounces of silver, 1,517 million pounds of zinc and 768.7 million pounds of lead. Gold measured and indicated mineral resources increased 15% year-over-year driven by a 105% increase at Wharf along with increases at Palmarejo, Rochester and Kensington as well as the inclusion of silver and gold ounces at Las Chispas.</p> <p>Inferred mineral resources were 2.3 million ounces of gold, 106.1 million ounces of silver, 481.8 million pounds of zinc and 199.8 million pounds of lead. Both gold and silver inferred mineral resources increased by 15%, driven by a 216% increase at Wharf and 69% and 84% increases in gold and silver, respectively, at Palmarejo, as well as the inclusion of silver and gold ounces at Las Chispas.</p> <p>Key Highlights<sup>1</sup></p> <ul> <li>Wharf gold measured and indicated mineral resources more than doubled; gold inferred mineral resources more than tripled - Mine optimization initiatives drove an increase in gold measured and indicated mineral resources by 521,000 ounces and gold inferred mineral resources by 321,000 ounces, positioning Wharf for significant expected mine life extensions as infill drilling accelerates in 2025</li> <li>Kensington's gold proven and probable mineral reserves increased 22% to 500,000 ounces - The nearly-completed multi-year underground development and drilling investment program provides Kensington with greater operational flexibility and a substantially longer mine life, which has doubled since the program commenced in 2022 to the current five years. Kensington's measured and indicated mineral resources of gold increased over 8% year-over-year</li> <li>Second consecutive year of strong resource expansion at Palmarejo - A sustained emphasis on growing the pipeline of silver and gold inferred mineral resources led to an 84% increase in silver inferred mineral resources and a 69% increase in gold inferred mineral resources, which bodes well for future potential mine life extensions</li> <li>Expansion drilling at Palmarejo continues to demonstrate growth potential - Expansion drilling in the Hidalgo corridor continues to return positive results directly impacting inferred mineral resources and highlight the excellent potential for future reserve growth. Specifically, the Hidalgo, Libertad and San Juan deposits located immediately northwest of the Independencia deposit were substantially extended and remain open along strike and down dip. Notable estimated true thickness intercepts from the program include:</li> </ul> <p>Libertad deposit</p> <ul> <li>Hole HGDH_180 returned 14.2 feet at 0.17 ounces per ton (

Hole HGDH_181 returned 66.3 feet at 0.06 oz/t gold and 5.9 oz/t silver (20.2 meters at 2.1 g/t gold and 202.4 g/t silver)

Hole HGDH_182A returned 31.2 feet of 0.08 oz/t gold and 6.6 oz/t silver (10.5 meters at 2.9 g/t gold and 226.2 g/t silver)

Hole HGDH_189 returned 2.7 feet at 0.83 oz/t gold and 96.8 oz/t silver (0.6 meters at 28.4 g/t gold and 3,320.0 g/t silver)

Hole HGDH_198 returned 13.1 feet at 0.05 oz/t gold and 11.6 oz/t silver (4.0 meters at 1.6 g/t gold and 396.9 g/t silver)

San Juan deposit

Hole HGDH_159 returned 1.6 feet at 0.42 oz/t gold and 37.6 oz/t silver (0.5 meters at 14.4 g/t gold and 1,290.0 g/t silver)
Hole HGDH_162 returned 9.1 feet of 0.03 oz/t gold and 2.7 oz.t silver (2.8 meters at 1.2 g/t gold and 253.3 g/t silver)
Hole HGDH_169 returned 7.5 feet at 0.01 oz/t gold and 9.3 oz/t silver (2.3 meters at 0.4 g/t gold and 318.3 g/t silver)

"Coeur's sustained focus on brownfield exploration investment has been incredibly successful and continues to be a key differentiator. Over the past five years, our gold and silver mineral reserves have increased 40% and 48%, respectively, net of depletion, and our gold and silver mineral resources have grown considerably," said Mitchell J. Krebs, Chairman, President and Chief Executive Officer. "The acquisition of SilverCrest further strengthens the quality of our silver and gold portfolio as evidenced by the 12% increase in our overall reserve grade due to the addition of the high-grade Las Chispas operation.

"At Rochester, the exploration team successfully replaced 2024 production. With a 16-year mine life, the focus remains on drilling higher-grade, near mine targets. Coupled with Kensington's impressive reserve growth and the substantial resource growth at Wharf, Coeur's core U.S. operations, where over 70% of our mineral reserves are located, are well-positioned for the future. At Palmarejo in Mexico, the 2024 exploration campaign was also a major success, leading to a 75% increase in its inferred mineral resource base. Overall exploration efforts at Palmarejo continue to trend to the east and outside of the area of the Franco Nevada gold stream, with approximately 60% of total 2025 exploration spending expected in the highly prospective areas in the eastern portion of the Palmarejo district, which we have now fully consolidated."

Coeur's gold and silver price assumptions for year-end 2024 reserves were $1,800 per ounce and $23.50 per ounce, respectively, which represented increases over year-end 2023 gold and silver reserve prices of $1,600 per ounce and $21.00 per ounce, respectively. The gold price assumption for reserves at Kensington increased from $1,850 per ounce at year-end 2023 to $2,000 per ounce at year-end 2024.

The Company increased its gold and silver price assumptions for year-end 2024 resources from $1,800 per ounce to $2,100 per ounce and from $25.00 per ounce to $27.00 per ounce, respectively, except at Kensington which gold price assumption increased from $2,000 per ounce to $2,300 per ounce.

For a complete table of all drill results, please refer to the following link: https://www.coeur.com/files/doc_

/Public Release. This material from the originating organization/author(s) might be of the point-in-time nature, and edited for clarity, style and length. Mirage.News does not take institutional positions or sides, and all views, positions, and conclusions expressed herein are solely those of the author(s).

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