New Discovery At Silvertip

CHICAGO, IL - Coeur Mining, Inc. reported on a new discovery at Silvertip indicates significant growth potential immediately west of existing infrastructure – Surface and underground drilling led to the discovery of a new high-grade chimney west of the Camp Creek resource located at a shallower depth, called Camp Creek West. The first drill holes into the zone returned the highest grade-thickness assays at Silvertip to date.

“Recent assays from the newly discovered Camp Creek West zone of Silvertip are among the best results ever returned at the property and underscore the potential of what we believe is a truly world-class deposit,” said Mitchell J. Krebs, President and Chief Executive Officer. “In addition to the impressive grade and thickness of the Camp Creek West discovery, its location across a fault zone not previously known to contain ore-grade material has the potential to significantly expand the extent of this deposit. Airborne geophysical models also suggest that these zones may extend an additional mile and a quarter (two kilometers) from current drilling positions. In addition, Kensington has recently returned strong grade thicknesses in Kensington Zone 30 as we prioritize further mine life extensions, and new assay results at Palmarejo are among the best grade-thicknesses in several years. The results highlight the compelling opportunities for growth within Coeur’s portfolio and the success of our multi-year exploration investment.”

Coeur began 2022 with two underground core rigs focused on resource infill drilling within the Discovery and Southern Silver zones, while also logging and shipping core samples from the 2021 season.

Assay results from late 2021 surface drilling to the west of the Camp Creek zone returned one of the highest grade-thickness intervals ever at Silvertip, leading to the discovery of the new Camp Creek West zone (see hole CCF21-PAD03-015). This high-grade silver-lead-zinc zone has been interpreted as a chimney system which occurs within the McDame Formation limestone, in the footwall of the Camp Creek Fault, and is shallower than the Camp Creek zone.

No previous drilling exists on the west side of the Camp Creek Fault, as the typical Silvertip ore host rock was previously assumed to be eroded away. The new chimney system coincides directly with a moderately conductive zone detected in airborne geophysics SkyTEM models performed in 2021. Based on modeling and interpretation of adjacent lines, the zone could potentially extend another 1.5 miles (two kilometers) from the new Camp Creek West discovery hole. New drill sites are being permitted that plan to test extensions north and south of these initial intercepts.

For the remainder of 2022, Coeur expects to continue infill drilling in the Southern Silver and Central zones from underground. An additional surface core rig is expected to be added following the snow melt to perform expansion drilling at Camp Creek West.