Hecla Mining — Nov 5, 2025 release

Guidance for total cost of sales is raised to $205 million (including non-cash depreciation expense) from the prior $197 million, reflecting an expected increase in operating costs related to the underground mine extension, and to a lesser extent, an increase in depreciation expense. Cash cost and AISC per gold ounce (after by-product credits) guidance reiterated at $1,700-$1,800 and $1,850-$2,000 respectively, set in September, 2025. 3,4 Capital investment guidance for Casa Berardi in 2025 is unchanged.   Medium-Term Development Plan (2028-2033) At current gold prices, Casa Berardi is expected to produce gold from the 160 Pit (and associated stockpiles) and the existing underground mine through 2027, and is expected to continue to generate strong free cash flow over this period. Casa Berardi is currently considering options for the potential transition to a next phase of development in 2028, with infrastructure investment and pit preparation for Principal and West Mine Crown Pillar operations, which are expected to generate significant free cash flow post 2033. During the period estimated to last between 2028 and 2033, the focus is expected to be on investing in permitting, infrastructure and equipment, as well as de-watering and stripping the first of the two expected new open pits.   As with all assets in our portfolio, management continues to evaluate various operational and strategic options as part of its ongoing capital allocation discipline. These options include (i) extending mine life through exploration upside, (ii) evaluating alternative ore sources, (iii) acceler