Hecla Mining — Nov 6, 2024 release

EXHIBIT 99.1 ex_744261.htm Exhibit 99.1 NEWS RELEASE   HECLA REPORTS THIRD QUARTER 2024 RESULTS New CEO takes reins, record silver segment revenues, deleveraging continues   For The Period Ended: September 30, 2024 For Release: November 6, 2024   COEUR D'ALENE, IDAHO -- Hecla Mining Company ( NYSE:HL) ("Hecla” or the “Company") today announced third quarter 2024 financial and operating results.   THIRD QUARTER HIGHLIGHTS   Operational • Produced 3.6 million silver ounces and 32,280 ounces of gold. • Keno Hill produced 0.6 million ounces of silver, with 2.1 million ounces produced in the first nine months of the year, at an average mill throughput of 314 tons per day (”tpd”). • Sold 98,792 pounds of payable copper at Greens Creek. • 2024 guidance for silver production decreased and cost guidance increased, gold production and cost guidance affirmed.   Financial ● Revenues of $245.1 million, second highest in Company history, 45% from silver and 32% from gold. ● Net income applicable to common stockholders of $1.6 million or $0.00 per share; adjusted net income applicable to common stockholders of $19.7 million or $0.03 per share. 1 ● Reduced total debt by $50.6 million; achieved the second highest quarterly Adjusted EBITDA, improving the net leverage ratio* to 1.8. 5 ● Cash provided by operating activities of $55.0 million; strong free cash flow generation at Greens Creek and Lucky Friday. 2   ● Greens Creek generated $54.1 million in cash flow from operations and $46.9 million in free cash flow. 2   ● Lucky Friday generated $34.4 million in cash flow from operations and $23.2 million in free cash flow (including $14.8 million in insurance receipts). 2 ● Collected the remaining $14.8 million of Lucky Friday's underground insurance claim of $50 million. ● Consolidated silver total cost of sales of $132.7 million; cash cost and all-in sustaining cost ("AISC") per silver ounce (each after by-product credits) of $4.46 and $15.29, respectively. 3,4 ● Declared silver-linked quarterly dividend of $0.01 per share, reflecting a quarterly realized silver price between $25 and $30 per ounce, for a total cash dividend of $0.01375 per common share.   Exploration ● At Keno Hill, over 9,800 feet of definition drilling was completed. Drilling continues to intersect high-grade silver mineralization over significant widths and highlights the potential for high-grade silver mineralization in the district. Highlights include:   ● Bermingham Footwall Vein: 63.8 oz/ton silver, 6.7% lead, and 6.4% zinc over 10.2 feet   ● Includes: 99.6 oz/ton silver, 10.7% lead, and 9.8% zinc over 6.4 feet   ● Flame & Moth Vein 1: 71.6 oz/ton silver, 11.6% lead, and 11.2% zinc over 14.8 feet       * Net Leverage ratio is calculated as current debt, long-term debt and finance leases less cash to 12 month trailing adjusted EBITDA .         ● At Greens Creek, over 27,000 feet of drilling was completed, focused on resource conversion and extension of mineralization. Highlights include:   ● 200 South Zone: 74.0 oz/ton silver, 0.03 oz/ton gold, 4.7% zinc, and 2.2% lead over 33.8 feet   ● Southwest Bench: 51.4 oz/ton silver, 0.52 oz/ton gold, 9.3% zinc, and 4.9% lead over 19.0 feet   "Hecla produced 3.6 million ounces of silver in the third quarter, bringing year-to-date production to 12.3 million ounces. Lucky Friday had a strong quarter as the mill achieved the second-highest throughput in its 80-year history after a record last quarter," said Cassie Boggs, Interim President and CEO. "While Greens Creek’s silver production was lower than anticipated due to five days of unplanned mill maintenance in the third quarter, our team was able to complete the maintenance quickly and complete a portion of our fourth quarter scheduled maintenance simultaneously. Strong performance from our silver operations has generated free cash flow of $170 million year-to-date, which along with opportunistic use of our ATM program, has allowed us to substantially repay outstanding borrowings on our revolving credit facility, reducing total debt by $50.6 million.”   Boggs continued, “At Keno Hill, we have already mined more than 2.5 million ounces and produced 2.1 million ounces of silver this year, putting us on track to meet our production guidance for this year. We are prioritizing building the foundation for this operation's future to operate in Yukon successfully, which includes improving safety and environmental practices and, importantly, valuing the perspectives of the Yukon Government and the First Nation of Na-Cho Nyäk Dun, both of whom have important roles in permitting our improvements to infrastructure as well as our future operations.”   New President and CEO   Ms. Boggs continued, “What we are most excited about is welcoming our new President and CEO, Rob Krcmarov, a proven leader in the mining industry. His vision and expertise will be invaluable as we continue our journey toward growth, innovation and continuous improvement."   Mr. Krcmarov added, "Hecla has a remarkable legacy of operational excellence, innovation, and a strong commitment to responsible mining and sustainable practices. I am thrilled to be a part of this team and I look forward to contributing to the Company's continued growth and success."   FINANCIAL OVERVIEW     In the following table and throughout this release, "total cost of sales" is comprised of cost of sales and other direct production costs and depreciation, depletion and amortization, and comparisons are made to the "prior quarter" which refers to the second quarter of 2024.     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 2     In Thousands unless stated otherwise   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     2Q-2023     YTD-2024     YTD-2023   FINANCIAL AND PRODUCTION SUMMARY                                                                 Sales   $ 245,085     $ 245,657     $ 189,528     $ 160,690     $ 181,906     $ 178,131     $ 680,270     $ 559,537   Total cost of sales   $ 185,799     $ 194,227     $ 170,368     $ 153,825     $ 148,429     $ 140,472     $ 550,394     $ 453,453   Gross profit   $ 59,286     $ 51,430     $ 19,160     $ 6,865     $ 33,477     $ 37,659     $ 129,876     $ 106,084   Net income (loss) applicable to common stockholders   $ 1,623     $ 27,732     $ (5,891 )   $ (43,073 )   $ (22,553 )   $ (15,832 )   $ 23,464     $ (41,696 ) Basic income (loss) per common share (in dollars)   $ 0.00     $ 0.04     $ (0.01 )   $ (0.07 )   $ (0.04 )   $ (0.03 )   $ 0.04     $ (0.07 ) Adjusted EBITDA 1   $ 88,859     $ 90,895     $ 71,597     $ 32,907     $ 46,251     $ 67,740     $ 251,351     $ 175,894   Total Debt   $ 539,804                                                     $ 616,246   Net Debt to Adjusted EBITDA 1     1.8                                               1.8       2.2   Cash provided by operating activities   $ 55,009     $ 78,718     $ 17,080     $ 884     $ 10,235     $ 23,777     $ 150,807     $ 74,615   Capital Expenditures   $ (55,699 )   $ (50,420 )   $ (47,589 )   $ (62,622 )   $ (55,354 )   $ (51,468 )   $ (153,708 )   $ (161,265 ) Free Cash Flow 2   $ (690 )   $ 28,298     $ (30,509 )   $ (61,738 )   $ (45,119 )   $ (27,691 )   $ (2,901 )   $ (86,650 ) Silver ounces produced     3,645,004       4,458,484       4,192,098       2,935,631       3,533,704       3,832,559       12,295,586       11,407,232   Silver payable ounces sold     3,729,782       3,785,285       3,481,884       2,847,591       3,142,227       3,360,694       10,996,951       10,107,415   Gold ounces produced     32,280       37,324       36,592       37,168       39,269       35,251       106,196       114,091   Gold payable ounces sold     31,414       35,276       32,189       33,230       36,792       31,961       98,879       108,372   Cash Costs and AISC, each after by-product credits                                                                 Silver cash costs per ounce 3   $ 4.46     $ 2.08     $ 4.78     $ 4.94     $ 3.31     $ 3.32     $ 3.71     $ 2.86   Silver AISC per ounce 4   $ 15.29     $ 12.54     $ 13.10     $ 17.48     $ 11.39     $ 11.63     $ 13.57     $ 10.52   Gold cash costs per ounce 3   $ 1,754     $ 1,701     $ 1,669     $ 1,702     $ 1,475     $ 1,658     $ 1,707     $ 1,635   Gold AISC per ounce 4   $ 2,059     $ 1,825     $ 1,899     $ 1,969     $ 1,695     $ 2,147     $ 1,923     $ 2,075   Realized Prices                                                                 Silver, $/ounce   $ 29.43     $ 29.77     $ 24.77     $ 23.47     $ 23.71     $ 23.67     $ 28.07     $ 23.28   Gold, $/ounce   $ 2,522     $ 2,338     $ 2,094     $ 1,998     $ 1,908     $ 1,969     $ 2,317     $ 1,921   Lead, $/pound   $ 0.93     $ 1.06     $ 0.97     $ 1.09     $ 1.07     $ 0.99     $ 0.99     $ 1.02   Zinc, $/pound   $ 1.36     $ 1.51     $ 1.10     $ 1.39     $ 1.52     $ 1.13     $ 1.32     $ 1.34     Sales in the third quarter of $245.1 million were consistent with the prior quarter as lower sales volumes of silver, gold and lead, and lower realized prices for silver, zinc, lead were offset by higher sales volumes for zinc and higher realized prices for gold. The lower sales volumes stemmed from a combination of lower production and volumes sold at Lucky Friday and Casa Berardi (due to lower grades and lower mill throughput) and lower sales volumes at Keno Hill due to lower mill throughput attributable to delays in design and construction of the dry stack tailings facility ("DSTF"), including permitting delays following the heap leach failure at Victoria Gold's Eagle Gold mine. Sales of silver and zinc concentrate inventory built up at Greens Creek in the prior quarter partially offset lower sales volumes from other operations.   Gross profit increased by 15% to $59.3 million, primarily attributable to the lower cost of sales at Keno Hill and Casa Berardi partially offset by higher cost of sales at Greens Creek due to higher volumes of metals sold.   Net income applicable to common stockholders for the quarter was $1.6 million, a $26.1 million reduction from the prior quarter, primarily because of:   ● A non-cash write down of $14.5 million, $13.9 million related to the remote vein miner. The machine was determined to be obsolete due to the success of the Underhand Closed Bench mining method at Lucky Friday and the decision by the vendor to terminate the program and exit that line of business. ● Ramp-up and suspension costs increased by $8.1 million to $13.7 million, reflecting the lower mill throughput at Keno Hill due to delays of the DSTF described above. ● Foreign exchange loss of $3.2 million, compared to a gain of $2.7 million in the prior quarter, due to the appreciation of the Canadian dollar against the U.S. dollar. ● Exploration and pre-development increased by $3.9 million, due to increased activity over the summer months. ● Income and mining tax provision increased by $2.4 million to $11.5 million reflecting higher taxable income of our US operations compared to consolidated book income.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 3     The above items were partly offset by:   ● General and administrative costs decreased by $4.3 million primarily due to costs related to the departure of the former CEO in the prior quarter. ● Interest expense decreased by $1.6 million reflecting a decrease in the Company's borrowing on its revolving credit facility.   Consolidated silver total cost of sales in the third quarter increased by 8% to $132.7 million, reflecting a product inventory draw down at Greens Creek. Consolidated cash costs and AISC per silver ounce, each after by-product credits, were $4.46 and $15.29 respectively and only include costs of Greens Creek and Lucky Friday for the full quarter (commercial production has not been declared at Keno Hill). The increase in cash costs was primarily due to lower silver production and by-product credits (lower production for all metals except zinc and lower realized prices for all metals except gold). 3,4   Consolidated gold total cost of sales were $46.3 million, reflecting a decrease in sales at Casa Berardi. Cash costs and AISC per gold ounce, each after by-product credits, increased to $1,754 and $2,059, respectively, as lower production costs were offset by lower gold production, with AISC also impacted by higher planned capital investment in tailings construction. 3,4   Adjusted EBITDA for the quarter was $88.9 million, in line with the prior quarter (which was a record). 5 The net leverage ratio improved to 1.8 times from 2.3 times in the prior quarter due to a reduction in total debt of $50.6 million as the Company decreased borrowings under its revolving credit facility. Cash and cash equivalents at the end of the quarter were $22.3 million and included $13.0 million drawn on the revolving credit facility. Borrowing on the revolving credit facility decreased by $49.0 million in the quarter as the Company utilized insurance proceeds and equity issuances under the At-The-Market ("ATM") program to reduce the drawn amount. At current price levels and expected production, the Company anticipates continuing to reduce borrowings on the revolving credit facility.   Cash provided by operating activities was $55.0 million and decreased by $23.7 million from the prior quarter due to a decrease in net income adjusted for non-cash items of $13.4 million and unfavorable working capital changes of $10.3 million.   Capital investment of $55.7 million increased by $5.3 million from the prior quarter. Capital investments at the operations were as follows (i) $11.5 million at Greens Creek related to development, mill projects including replacement of tails and concentrate filter presses, definition drilling, and equipment purchases, (ii) $18.6 million at Casa Berardi, primarily related to tailings construction activities, (iii) $11.2 million at Lucky Friday primarily related to equipment purchases, pre-production drilling, and development and (iv) $14.4 million at Keno Hill, primarily related to DSTF work, equipment purchases, and capital development.   Free cash flow for the quarter was negative $0.7 million, compared to $28.3 million in the prior quarter. 2 The decrease in free cash flow is primarily attributable to lower cash flow from operations and increased capital investment.   Forward Sales Contracts for Base Metals and Foreign Currency   The Company uses financially settled forward sales contracts to manage exposure to zinc and lead price changes in forecasted concentrate shipments. On September 30, 2024, the Company had contracts covering approximately 10% and 32% of the forecasted payable zinc and lead production, respectively, through 2026, at an average zinc price of $1.37 per pound and a lead price of $1.00 per pound.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 4     The Company also manages Canadian dollar ("CAD") exposure through forward contracts. On September 30, 2024, the Company had hedged approximately 39% of forecasted Casa Berardi and Keno Hill CAD-denominated direct production costs through 2026 at an average CAD/USD rate of 1.33. The Company has also hedged approximately 15% of Casa Berardi and Keno Hill's projected CAD-denominated total capital expenditures through 2026 at 1.35.   OPERATIONS OVERVIEW   Greens Creek Mine - Alaska   Dollars are in thousands except cost per ton   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     YTD-2024     YTD-2023   GREENS CREEK                                                         Tons of ore processed     212,863       225,746       232,188       220,186       228,978       670,797       694,610   Total production cost per ton   $ 222.39     $ 218.09     $ 212.92     $ 223.98     $ 200.30     $ 217.66     $ 197.94   Ore grade milled - Silver (oz./ton)     11.2       12.6       13.3       12.9       13.1       12.4       13.4   Ore grade milled - Gold (oz./ton)     0.08       0.09       0.09       0.09       0.09       0.09       0.09   Ore grade milled - Lead (%)     2.4       2.5       2.6       2.8       2.5       2.5       2.6   Ore grade milled - Zinc (%)     6.6       6.2       6.3       6.5       6.5       6.4       6.3   Silver produced (oz.)     1,857,314       2,243,551       2,478,594       2,260,027       2,343,192       6,579,459       7,471,725   Gold produced (oz.)     11,746       14,137       14,588       14,651       15,010       40,471       46,245   Lead produced (tons)     4,165       4,513       4,834       4,910       4,740       13,512       14,668   Zinc produced (tons)     12,585       12,400       13,062       12,535       13,224       38,047       38,961   Copper produced (tons)     490       462       495       449       457       1,447       1,374   Sales     116,568       95,659     $ 97,310     $ 93,543     $ 96,459     $ 309,537     $ 290,961   Total cost of sales   $ (73,597 )   $ (56,786 )   $ (69,857 )   $ (70,231 )   $ (60,322 )   $ (200,240 )   $ (189,664 ) Gross profit   $ 42,971     $ 38,873     $ 27,453     $ 23,312     $ 36,137     $ 109,297     $ 101,297   Cash flow from operations   $ 54,076     $ 43,276     $ 28,706     $ 34,576     $ 36,101     $ 126,058     $ 122,749   Exploration   $ 4,325     $ 2,011     $ 551     $ 1,324     $ 4,283     $ 6,887     $ 6,491   Capital additions   $ (11,466 )   $ (11,704 )   $ (8,827 )   $ (15,996 )   $ (12,060 )   $ (31,997 )   $ (27,546 ) Free cash flow 2   $ 46,935     $ 33,583     $ 20,430     $ 19,904     $ 28,324     $ 100,948     $ 101,694   Cash cost per ounce, after by-product credits 3   $ 0.93     $ 0.19     $ 3.45     $ 4.94     $ 3.04     $ 1.62     $ 1.81   AISC per ounce, after by-product credits 4   $ 7.04     $ 5.40     $ 7.16     $ 12.00     $ 8.18     $ 6.53     $ 5.67     Greens Creek produced 1.9 million ounces of silver, a decrease over the prior quarter, primarily due to lower grades and reduced mill throughput attributable to five days of unplanned maintenance on the Semi-Autogenous Grinding ("SAG") mill variable frequency drive (unplanned maintenance extended to two days in October). By-product metal production was lower for gold and lead due to lower mill throughput and lower grades, while zinc production was flat as higher grades offset the lower milled throughput. The mine added copper to its by-product metals as the silver concentrate now includes copper as a payable metal (copper has been produced at the mine for multiple years but previously was not a payable metal in concentrates).   Sales in the quarter were $116.6 million, a 22% increase due to higher quantities of payable metals sold (all metals) as silver and zinc concentrate inventory built up from the prior quarter was sold in the third quarter. Higher quantities of metals sold offset the lower realized prices for all metals except gold. Total cost of sales was $73.6 million, an increase of 30%, reflecting higher payable metals sold. Cash costs and AISC per silver ounce, each after by-product credits, were $0.93 and $7.04, respectively, and increased over the prior quarter as lower production costs were offset by lower silver production and lower by-product credits (lower production volumes and lower realized prices for all metals except gold). 3,4   Cash flow from operations was $54.1 million, a 25% increase, primarily due to higher gross profit. Capital investments were consistent with the prior quarter. Free cash flow for the quarter was $46.9 million, an increase of 40%, attributable to higher cash flow from operations. 2   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 5     Lucky Friday Mine - Idaho   Dollars are in thousands except cost per ton   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     YTD-2024     YTD-2023   LUCKY FRIDAY                                                         Tons of ore processed     104,281       107,441       86,234       5,164       36,619       297,956       225,965   Total production cost per ton   $ 260.99     $ 233.99     $ 233.10     $ 201.42     $ 191.81     $ 243.18     $ 223.44   Ore grade milled - Silver (oz./ton)     12.1       12.9       12.9       12.7       13.6       12.6       14.0   Ore grade milled - Lead (%)     7.9       8.1       8.2       8.0       8.6       8.1       8.9   Ore grade milled - Zinc (%)     3.9       3.6       3.9       3.5       3.5       3.8       4.1   Silver produced (oz.)     1,184,819       1,308,155       1,061,065       61,575       475,414       3,554,039       3,024,544   Lead produced (tons)     7,662       8,229       6,689       372       2,957       22,580       19,171   Zinc produced (tons)     3,528       3,320       2,851       134       1,159       9,699       7,810   Sales   $ 51,072     $ 59,071     $ 35,340     $ 3,117     $ 21,409     $ 145,483     $ 113,167   Total cost of sales   $ (39,286 )   $ (37,523 )   $ (27,519 )   $ (3,117 )   $ (14,344 )   $ (104,328 )   $ (81,068 ) Gross profit   $ 11,786     $ 21,548     $ 7,821     $ —     $ 7,065     $ 41,155     $ 32,099   Cash flow from operations   $ 34,374     $ 44,546     $ 27,112     $ (7,982 )   $ 515     $ 106,032     $ 65,540   Capital additions   $ (11,178 )   $ (10,818 )   $ (14,988 )   $ (18,819 )   $ (15,494 )   $ (36,984 )   $ (46,518 ) Free cash flow 2   $ 23,196     $ 33,728     $ 12,124     $ (26,801 )   $ (14,979 )   $ 69,048     $ 19,022   Cash cost per ounce, after by-product credits 3   $ 9.98     $ 5.32     $ 8.85       N/A     $ 4.74     $ 7.86     $ 5.51   AISC per ounce, after by-product credits 4   $ 19.40     $ 12.74     $ 17.36       N/A     $ 10.63     $ 16.26     $ 12.21     Lucky Friday produced 1.2 million ounces of silver, 9% lower than the prior quarter, due to 6% lower milled grades and 3% lower throughput. Mill throughput averaged 1,133 tpd, the second highest in the mine's history after a record in the prior quarter.   Sales in the third quarter were $51.1 million, 14% lower due to lower volumes of metals sold and lower realized prices. Total cost of sales increased to $39.3 million, primarily due to higher production costs attributable to higher underground mobile equipment maintenance costs and higher contractor costs. Key mill projects, including installation of new cyclones, were completed during the quarter, contributing to lower mill throughput. Cash costs and AISC per silver ounce, each after by-product credits, were $9.98 and $19.40 respectively and were higher due to higher production costs and lower by-product credits (lower production and realized prices), and lower silver production. 3,4   Cash flow from operations was $34.4 million and decreased over the prior quarter due to lower gross margins realized and lower insurance proceeds of $14.8 million (prior quarter included $17.8 million in insurance proceeds). With $14.8 million in insurance proceeds received during the quarter, the Company has completed the claim after reaching the underground insurance sublimit of $50 million.   Capital investment for the quarter was $11.2 million, consistent with the prior quarter. Free cash flow for the quarter was $23.2 million, lower compared to the prior quarter primarily due to lower gross margins. 2   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 6     Keno Hill - Yukon Territory   Dollars are in thousands except cost per ton   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     YTD-2024     YTD-2023   KENO HILL                                                         Tons of ore processed     24,027       36,977       25,165       19,651       24,616       86,169       36,680   Ore grade milled - Silver (oz./ton)     25.7       25.1       26.3       31.7       33.0       25.6       28.2   Ore grade milled - Lead (%)     3.0       2.4       2.4       2.6       2.4       2.6       2.1   Ore grade milled - Zinc (%)     2.4       1.4       1.3       1.6       2.5       1.7       3.1   Silver produced (oz.)     597,293       900,440       646,312       608,301       710,012       2,144,045       894,276   Lead produced (tons)     670       845       576       481       327       2,091       744   Zinc produced (tons)     492       471       298       396       252       1,261       943   Sales   $ 19,809     $ 28,950     $ 10,847     $ 17,936     $ 16,001     $ 59,606     $ 17,582   Total cost of sales   $ (19,809 )   $ (28,950 )   $ (10,847 )   $ (17,936 )   $ (16,001 )   $ (59,606 )   $ (17,582 ) Gross profit   $ —     $ —     $ —     $ —     $ —     $ —     $ —   Cash flow from operations*   $ (6,811 )   $ (465 )   $ (8,720 )   $ (1,188 )   $ (6,200 )   $ (15,996 )   $ (25,424 ) Exploration   $ 2,664     $ 2,019     $ 498     $ 1,548     $ 1,653     $ 5,181     $ 3,129   Capital additions   $ (14,406 )   $ (14,533 )   $ (10,346 )   $ (12,549 )   $ (11,498 )   $ (39,285 )   $ (32,123 ) Free cash flow 2 *   $ (18,553 )   $ (12,979 )   $ (18,568 )   $ (12,189 )   $ (16,045 )   $ (50,100 )   $ (54,418 ) *Revised for 2Q-2024, 1Q-2024 and 4Q-2023' Keno Hill produced 597,293 ounces of silver at an average grade of 25.7 ounces per ton. Mined throughput averaged 343 tpd, milled tonnage averaged 261 tpd during the quarter, and 314 tpd during the nine months ended September 30, 2024. Lower mill throughput during the quarter was attributable to the delays in receiving an authorization for construction and a permit modification for the DSTF as the Yukon Government ("YG") and the First Nation of Na-Cho Nyäk Dun ("FNNND") initially focused on the Victoria Gold's Eagle Mine heap leach pad failure that occurred in June and not on permitting matters (Keno Hill does not utilize heap leach processing). Mill operations resumed on October 26, after receiving the authorization and modification and completing related design and construction work on the DSTF. The mine has produced 2.1 million ounces of silver for the nine months ended September 2024 and had an ore stockpile inventory of approximately 0.46 million silver ounces as of October 26, when the mill resumed processing.   Sales during the quarter were $19.8 million and declined over the prior quarter due to lower production and volumes sold. Total expenditures on production costs (excluding depreciation) were $25.0 million and include $10.0 million classified as ramp-up costs on the consolidated statement of operations. Capital investments during the quarter were $14.4 million. Due to the delays in permits, construction of the cemented tails batch plant, a critical infrastructure project, is now expected to be completed in the second quarter of 2025. The project is expected to facilitate the change in mining method at the Bermingham deposit to underhand mining, which should improve safety and productivity. Conversion to underhand mining is expected in the first half of 2026.   Following the Eagle Mine heap leach pad incident, the FNNND expressed strong positions on mining activities within their Traditional Territory, where Keno Hill is located, including a call to halt mining production. The Company values the perspectives of the YG and FNNND and is committed to sustainable and responsible mining that governments and local communities support. Further, in 2025, the Company's environmental remediation services group (which performs environmental remediation work in Yukon on behalf of the Canadian government) is also expected to increase construction activities, adding incremental demand on Keno Hill's infrastructure and resources. As a result of these stakeholder matters, the Company expects 2025 production to remain similar to 2024 and we expect to use this opportunity to advance permitting, invest in improving safety, environmental practices, and infrastructure, and prioritize stakeholder engagement. In 2026, after implementing these priorities, the Company expects production to increase beyond 2024 levels.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 7     Casa Berardi - Quebec   Dollars are in thousands except cost per ton   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     YTD-2024     YTD-2023   CASA BERARDI                                                         Tons of ore processed - underground     101,308       118,485       123,123       104,002       112,544       342,916       316,913   Tons of ore processed - surface pit     268,291       248,494       258,503       251,009       231,075       775,288       774,564   Tons of ore processed - total     369,599       366,979       381,626       355,011       343,619       1,118,204       1,091,477   Surface tons mined - ore and waste     5,603,101       4,064,091       3,639,297       4,639,770       3,574,391       13,306,489       8,172,580   Total production cost per ton   $ 97.82     $ 107.84     $ 96.53     $ 108.20     $ 103.75     $ 100.67     $ 103.63   Ore grade milled - Gold (oz./ton) - underground     0.11       0.14       0.14       0.12       0.13       0.13       0.13   Ore grade milled - Gold (oz./ton) - surface pit     0.05       0.04       0.04       0.06       0.06       0.04       0.05   Ore grade milled - Gold (oz./ton) - combined     0.06       0.07       0.07       0.07       0.07       0.07       0.07   Gold produced (oz.) - underground     9,913       13,719       13,707       11,206       12,416       37,339       34,430   Gold produced (oz.) - surface pit     10,621       9,468       8,297       11,311       11,843       28,386       33,416   Gold produced (oz.) - total     20,534       23,187       22,004       22,517       24,259       65,725       67,846   Silver produced (oz.) - total     5,578       6,338       6,127       5,730       5,084       18,043       16,685   Sales   $ 50,308     $ 58,623     $ 41,584     $ 42,822     $ 46,912     $ 150,515     $ 134,856   Total cost of sales   $ (46,280 )   $ (67,340 )   $ (58,260 )   $ (58,945 )   $ (56,822 )   $ (171,880 )   $ (162,396 ) Gross profit (loss)   $ 4,028     $ (8,717 )   $ (16,676 )   $ (16,123 )   $ (9,910 )   $ (21,365 )   $ (27,540 ) Cash flow from operations   $ 15,305     $ 17,816     $ 3,186     $ 3,136     $ 7,877     $ 36,307     $ (955 ) Exploration   $ —     $ 315     $ 685     $ 635     $ 1,482     $ 1,000     $ 3,643   Capital additions   $ (18,606 )   $ (12,376 )   $ (13,316 )   $ (15,929 )   $ (16,225 )   $ (44,298 )   $ (54,127 ) Free cash flow 2   $ (3,301 )   $ 5,755     $ (9,445 )   $ (12,158 )   $ (6,866 )   $ (6,991 )   $ (51,439 ) Cash cost per ounce, after by-product credits 3   $ 1,754     $ 1,701     $ 1,669     $ 1,702     $ 1,475     $ 1,707     $ 1,635   AISC per ounce, after by-product credits 4   $ 2,059     $ 1,825     $ 1,899     $ 1,969     $ 1,695     $ 1,923     $ 2,075     Casa Berardi produced 20,534 ounces of gold in the quarter, 11% less than the prior quarter due to lower underground grades. The mill operated at an average of 4,017 tpd during the quarter.   Sales were $50.3 million, a decrease of 14% over the prior quarter due to lower gold production and sales volumes were partially offset by higher realized gold price. Total cost of sales were $46.3 million, a decrease of 31% attributable to lower sales volumes and lower production costs. Cash costs and AISC per gold ounce, each after by-product credits, increased to $1,754 and $2,059, respectively, as lower gold production was partially offset by lower production costs, with AISC also impacted by higher planned capital investment on construction of tailings. 3,4   Cash flow from operations was $15.3 million, lower than the prior quarter primarily due to less gold ounces sold. Capital investments for the quarter totaled $18.6 million ($6.1 million in sustaining and $12.5 million in growth). Free cash flow for the quarter was negative $3.3 million, a decrease over the prior quarter attributable to lower cash flow from operations and higher planned capital investments. 2   Casa Berardi is transitioning from a combined underground and surface operation to a surface only operation, which will require significant permitting and development activities. As a part of this transition, along with mining the 160 open pit, only the higher margin stopes of the west underground mine will be mined until they are exhausted, which is expected to occur in mid-2025. Casa Berardi is expected to produce gold from the 160 pit until 2027, and is expected to have a production gap commencing in 2027 and continuing until 2032 or later. During this time, the focus is expected to be on investing in infrastructure and equipment, permitting and de-watering and stripping two expected new open pits, Principal and West Mine Crown Pillar. Upon conclusion of the hiatus and related permitting and construction, the Company expects the mine to generate significant free cash flow at current gold prices. Given the expected hiatus in future production, the uncertainty surrounding permitting and timing of construction of the new open pits, and the Company’s newly hired President and CEO, the Company is evaluating the mine's fit into its overall strategy and is evaluating other potential strategic alternatives.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 8     EXPLORATION AND PRE-DEVELOPMENT   Exploration and pre-development expenses totaled $10.6 million for the quarter. Exploration activities during the quarter primarily focused on underground definition and exploration drilling at Greens Creek and Keno Hill.   Keno Hill Underground drilling during the third quarter continued to intersect high-grade silver mineralization over significant widths and highlights the potential for high-grade silver mineralization in the district.  Underground definition drilling continued to be focused on extending mineralization and resource conversion in the high-grade Bermingham Bear Zone veins (Bear, Footwall, and Main Vein zones) and in the Flame & Moth veins. During the quarter, two underground drills completed over 9,800 feet of definition drilling.    Drilling in the Bermingham Mine Footwall vein has intersected significant silver mineralization over significant width in a portion of the Footwall vein where mineralization was modeled to be low-grade.  Results from this drilling will increase the modeled grade in the western portion of the vein over 200 feet of strike length and 100 feet of dip length, and mineralization is open down dip for expansion.  Drilling in the Flame and Moth Mine Vein 1 has also intersected significant silver mineralization over significant widths in a portion of Vein 1 where mineralization had previously not been modeled.  These results will increase the modeled grade in the central portion of the vein over 230 feet of strike length and 100 feet of dip length.  This mineralization remains open to the west for expansion.    Three surface drills were also active on the property testing multiple targets including the Bermingham Deep, Bermingham Townsite, Elsa17-Dixie, Silver Spoon, and Inca target areas that have potential for additional large high-grade silver deposits. Over 23,700 feet of surface exploration drilling in 10 drillholes were completed during the quarter. Wide spaced surface drilling in the Bermingham Deep target has demonstrated the presence of high-grade mineralization in the vicinity of an emergent highly prospective vein intersection target with additional drilling planned to confirm this vein intersection is controlling metal distribution and to expand drilling along plunge. In the Bermingham Townsite target, surface drilling has defined a zone of narrow high-grade mineralization located within 100 meters of the currently planned development and is open at depth along plunge for expansion.   Assay highlights include (reported widths are estimates of true width): ● Footwall Vein: 63.8 oz/ton silver, 6.7% lead, and 6.4% zinc over 10.2 feet   ● Includes: 99.6 oz/ton silver, 10.7% lead, and 9.8% zinc over 6.4 feet ● Footwall Vein: 15.6 oz/ton silver, 3.0% lead, and 0.3% zinc over 27.7 feet   ● Includes: 52.1 oz/ton silver, 11.1% lead, and 0.4% zinc over 5.5 feet ● Flame & Moth Vein 1: 71.6 oz/ton silver, 11.6% lead, and 11.2% zinc over 14.8 feet ● Flame & Moth Vein 1: 50.3 oz/ton silver, 2.1% lead, and 10.7% zinc over 16.1 feet   ● Includes: 55.4 oz/ton silver, 2.1% lead, and 11.3% zinc over 13.9 feet   Greens Creek At Greens Creek, three underground drills completed over 27,000 feet of drilling focused on resource conversion and exploration to extend mineralization of known resources. Drilling was focused in the 9a, 200 South, 5250, West, Gallagher, and Upper Plate areas.  In addition, two helicopter supported surface exploration drills completed over 8,000 feet of drilling expanding Upper Plate Zone mineralization 250 feet to the west of current resources and drill testing the Mammoth, Gallagher West, East Ore Offset, and Lower Zinc Creek targets.   Assay highlights include (reported widths are estimates of true width): ● Upper Plate: 22.2 oz/ton silver, 0.02 oz/ton gold, 1.4% zinc, and 0.7% lead over 11.6 feet   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 9     ● 200 South Zone: 74.0 oz/ton silver, 0.03 oz/ton gold, 4.7% zinc, and 2.2% lead over 33.8 feet ● Southwest Bench: 51.4 oz/ton silver, 0.52 oz/ton gold, 9.3% zinc, and 4.9% lead over 19.0 feet ● West Zone: 30.0 oz/ton silver, 0.45 oz/ton gold, 20.0% zinc, and 7.5% lead over 11.3 feet   Detailed complete drill assay highlights can be found in Table A at the end of the release.   DIVIDENDS   Common Stock The Board of Directors declared a quarterly cash dividend of $0.01375 per share of common stock, consisting of $0.00375 per share for the minimum dividend component and $0.01 per share for the silver-linked component. The common stock dividend is payable on or about December 4, 2024, to stockholders of record on November 21, 2024. The quarter realized silver price was $29.43, satisfying the criterion for the Company’s common stock silver-linked dividend policy component for silver price threshold of $25 per ounce.   Preferred Stock The Board of Directors declared a quarterly cash dividend of $0.875 per share of preferred stock, payable on or about January 3, 2025, to stockholders of record on December 16, 2024.   2024 GUIDANCE 6   The Company is revising it's 2024 silver production and cost guidance and affirming its capital guidance. As the Company's new CEO, Mr. Rob Krcmarov, begins his role, and in light of the Company's ongoing review of operations at Keno Hill and Casa Berardi, the Company is not providing any guidance beyond 2024, and expects to provide 2025 guidance along with its 2024 year-end release in February 2025.   2024 Production Outlook   The Company is lowering silver production guidance for Lucky Friday and Greens Creek (attributable to the unplanned mill maintenance). Production guidance for Casa Berardi and Keno Hill is affirmed.       Silver Production (Moz)     Gold Production (Koz)     Silver Equivalent (Moz)     Gold Equivalent (Koz)       Previous     Current     Previous     Current     Previous     Current     Previous     Current   2024 Greens Creek *     8.8 - 9.2       8.6 - 9.0       46 - 51       46 - 51       21.0 - 21.5       19.5 - 20.5       235 - 245       226 - 236   2024 Lucky Friday *     5.0 - 5.3       4.7 - 5.0       N/A       N/A       9.5 - 10.0       8.8 - 9.1       110 - 115       100 - 105   2024 Casa Berardi     N/A       N/A       80 - 87       80 - 87       6.9 - 7.5       6.9 - 7.5       80 - 87       80 - 87   2024 Keno Hill*     2.7 - 3.0       2.7 - 3.0       N/A       N/A       3.0 - 3.5       3.0 - 3.5       36 - 40       36 - 40                                                                     2024 Total     16.5 - 17.5       16.0 - 17.0       126 - 138       126 - 138       40.4 - 42.5       38.2 - 40.6       461 - 487       442 - 468     *Equivalent ounces include lead and zinc production   2024 Cost Outlook   At Greens Creek, guidance for cash costs and AISC per silver ounce, each after by-product credits, has decreased to reflect higher by-product credits due to strong realized prices. At Lucky Friday, guidance for cash costs and AISC per silver ounce, each after by-product credits, has increased to reflect higher production costs and lower expected silver production.   At Keno Hill, guidance for expenditures on production costs, excluding depreciation, are unchanged and are expected to be $25-$27 million per quarter for the remainder of 2024. Casa Berardi's cash costs and AISC, each after by-product credits, are unchanged.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 10         Costs of Sales (million)   Cash cost, after by-product credits, per silver/gold ounce 3 AISC, after by-product credits, per produced silver/gold ounce 4     Previous     Current   Previous Current Previous Current Greens Creek     252       265   $2.25 - $3.00 $1.50 - $2.00 $8.25 - $9.00 $7.50 - $8.00 Lucky Friday     135       140   $4.25 - $5.25 $6.00 - $6.50 $12.75 - $14.00 $14.50 - $15.00 Total Silver     387       405   $3.00 - $3.75 $3.00 - $3.75 $13.00 - $14.50 $13.50 - $14.50 Casa Berardi     215       215   $1,500 - $1,700 $1,500 - $1,700 $1,750 - $1,975 $1,750 - $1,975   2024 Capital and Exploration Guidance   The Company is affirming capital and exploration expense guidance.   (millions)   Total   Sustaining Growth 2024 Total Capital expenditures   $196 - $218   $113 - $124 $83 - $94 Greens Creek   $50 - $55   $47 - $50 $3 - $5 Lucky Friday   $45 - $50   $42 - $45 $3 - $5 Keno Hill   $45 - $50   $10 - $12 $35 - $38 Casa Berardi   $56 - $63   $14 - $17 $42 - $46 2024 Exploration     $25       2024 Pre-Development     $6.5         CONFERENCE CALL AND WEBCAST   A conference call and webcast will be held on Thursday, November 7, 2024, at 10:00 a.m. Eastern Time to discuss these results. The Company recommends that the participants dial in at least 10 minutes before the call commencement. You may join the conference call by dialing toll-free 1-800-715-9871 or for international callers dial 1-646-307-1963. The Conference ID is 4812168 and must be provided when dialing in. Hecla's live and archived webcast can be accessed at https://events.q4inc.com/attendee/838635175 or www.hecla.com under Investors.   VIRTUAL INVESTOR EVENT   Hecla will be holding a Virtual Investor Event on Thursday, November 7, from 12:00 p.m. to 1:30 p.m. Eastern Time.   Hecla invites shareholders, investors, and other interested parties to schedule a personal, 30-minute virtual meeting (video or telephone) with a member of senior management to discuss Financial, Exploration, Operations, ESG or general matters. Click on the link below to schedule a call (or copy and paste the link into your web browser). You can select a topic once you have entered the meeting calendar. If you are unable to book a time, either due to high demand or for other reasons, please reach out to Anvita M. Patil, Vice President, Investor Relations and Treasurer at hmc-info@hecla.com or 208-769-4100.   One-on-One meeting URL: https://calendly.com/2024-nov-vie   ABOUT HECLA   Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 11     NOTES   Non-GAAP Financial Measures   Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by United States generally accepted accounting principles ("GAAP"). These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The non-GAAP financial measures cited in this release and listed below are reconciled to their most comparable GAAP measure at the end of this release.   (1) Adjusted net income (loss) applicable to common stockholders is a non-GAAP measurement, a reconciliation of which to net income (loss) applicable to common stockholders, the most comparable GAAP measure, can be found at the end of the release. Adjusted net income (loss) applicable to common stockholders is a measure used by management to evaluate the Company's operating performance but should not be considered an alternative to net income (loss) applicable to common stockholders as defined by GAAP. They exclude certain impacts which are of a nature which we believe are not reflective of our underlying performance. Management believes that adjusted net income (loss) applicable to common stockholders per common share provides investors with the ability to better evaluate our underlying operating performance.   (2) Free cash flow is a non-GAAP measure calculated as cash provided by operating activities less capital expenditures. Cash provided by operating activities for the Greens Creek, Lucky Friday, Keno Hill, and Casa Berardi operating segments excludes exploration and pre-development expense, as it is a discretionary expenditure and not a component of the mines’ operating performance. Capital expenditures refers to Additions to properties, plants and equipment from the Consolidated Statements of Cash Flows, net of finance leases.   (3) Cash cost, after by-product credits, per silver and gold ounce is a non-GAAP measurement, a reconciliation of total cost of sales, can be found at the end of the release. It is an important operating statistic that management utilizes to measure each mine's operating performance. It also allows the benchmarking of performance of each mine versus those of our competitors. As a primary silver mining company, management also uses the statistic on an aggregate basis - aggregating the Greens Creek and Lucky Friday mines to compare performance with that of other silver mining companies. Similarly, the statistic is useful in identifying acquisition and investment opportunities as it provides a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics. In addition, the Company may use it when formulating performance goals and targets under its incentive program.   (4) All-in sustaining cost (AISC), after by-product credits, is a non-GAAP measurement, a reconciliation of which to total cost of sales, the closest GAAP measurement, can be found in the end of the release. AISC, after by-product credits, includes total cost of sales and other direct production costs, expenses for reclamation at the mine sites and all site sustaining capital costs. AISC, after by-product credits, is calculated net of depreciation, depletion, and amortization and by-product credits. Prior year presentation has been adjusted to conform with current year presentation.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 12     (5) Adjusted EBITDA is a non-GAAP measurement, a reconciliation of which to net loss, the most comparable GAAP measure, can be found at the end of the release. Adjusted EBITDA is a measure used by management to evaluate the Company's operating performance but should not be considered an alternative to net loss, or cash provided by operating activities as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. In addition, the Company may use it when formulating performance goals and targets under its incentive program. Net debt to adjusted EBITDA is a non-GAAP measurement, a reconciliation of which to debt and net income (loss), the most comparable GAAP measurements, can be found at the end of the release. It is an important measure for management to measure relative indebtedness and the ability to service the debt relative to its peers. It is calculated as total debt outstanding less total cash on hand divided by adjusted EBITDA.   (6) Expectations for 2024 include silver, gold, lead, and zinc production from Greens Creek, Lucky Friday, Keno Hill, and Casa Berardi converted using gold $1,950/oz, silver $22.50/oz, zinc $1.20/lb, and lead $0.95/lb. Numbers are rounded.   Current GAAP measures used in the mining industry, such as total cost of goods sold, do not capture all the expenditures incurred to discover, develop and sustain silver and gold production. Management believes that AISC is a non-GAAP measure that provides additional information to management, investors and analysts to help (i) in the understanding of the economics of our operations and performance compared to other producers and (ii) in the transparency by better defining the total costs associated with production. Similarly, the statistic is useful in identifying acquisition and investment opportunities as it provides a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics. In addition, the Company may use it when formulating performance goals and targets under its incentive program.   Cautionary Statement Regarding Forward Looking Statements, Including 2024 Outlook   This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws, including Canadian securities laws. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Such forward-looking statements may include, without limitation: (i) at current price levels and expected production, the Company anticipates continuing to reduce borrowings on its credit facility; (ii) At Keno Hill, construction of cemented tails batch plant project is expected to 1) be completed in the second quarter of 2025, 2) improve safety and productivity at the Bermingham deposit, and 3) facilitate the change of mining method to underhand mining by the first half of 2026; (iii) also at Keno Hill, the Company expects 2025 production to remain similar to 2024 and to advance permitting and invest in improving safety, environmental practices, and infrastructure, and prioritizing stakeholder engagement in 2025, and that production is expected to increase beyond 2024 levels in 2026; (iv) Casa Berardi is expected to 1) continue underground production through mid-2025, 2) produce gold from the 160 pit until 2027, and 3) have a production gap commencing in 2027 to 2032 or later. During this time, the focus is expected to be on investing in infrastructure and equipment, permitting and de-watering and stripping two expected new open pits, Principal and West Mine Crown Pillar. Upon conclusion of the hiatus and related permitting and construction, the Company expects the mine to generate significant free cash flow, particularly at current gold prices; (v) projected total cost of sales, as well as cash cost and AISC per ounce (in each case after by-product credits) for Greens Creek, Lucky Friday, and Casa Berardi individually and for silver overall for 2024; (vi) Company-wide and mine-specific estimated spending on capital, exploration and predevelopment for 2024; and (vii) Company-wide and mine-specific estimated silver, gold, silver-equivalent and gold-equivalent ounces of production for 2024. The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company’s operations are subject.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 13     Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect, which could cause actual results to differ from forward-looking statements. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii) political/regulatory developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) the exchange rate for the USD/CAD being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; (viii) there being no significant changes to the availability of employees, vendors and equipment; (ix) the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated; (x) counterparties performing their obligations under hedging instruments and put option contracts; (xi) sufficient workforce is available and trained to perform assigned tasks; (xii) weather patterns and rain/snowfall within normal seasonal ranges so as not to impact operations; (xiii) relations with interested parties, including First Nations and Native Americans, remain productive; (xiv) maintaining availability of water rights; (xv) factors do not arise that reduce available cash balances; and (xvi) there being no material increases in our current requirements to post or maintain reclamation and performance bonds or collateral related thereto.   In addition, material risks that could cause actual results to differ from forward-looking statements include but are not limited to: (i) gold, silver and other metals price volatility; (ii) operating risks; (iii) currency fluctuations; (iv) increased production costs and variances in ore grade or recovery rates from those assumed in mining plans; (v) community relations; and (vi) litigation, political, regulatory, labor and environmental risks. For a more detailed discussion of such risks and other factors, see the Company's 2023 Form 10-K filed on February 15, 2024, Form 10-Q filed on August 7, 2024 and Form 10-Q expected to be filed on November 7, 2024, for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.   Qualified Person (QP)   Kurt D. Allen, MSc., CPG, VP - Exploration of Hecla Mining Company and Keith Blair, MSc., CPG, Chief Geologist of Hecla Limited, who serve as a Qualified Person under S-K 1300 and NI 43-101, supervised the preparation of the scientific and technical information concerning Hecla’s mineral projects in this news release. Technical Report Summaries for each of the Company’s Greens Creek, Lucky Friday, Casa Berardi and Keno Hill properties are filed as exhibits 96.1 - 96.4 respectively, to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and are available at www.sec.gov. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of analytical or testing procedures for (i) the Greens Creek Mine are contained in its Technical Report Summary and in a NI 43-101 technical report titled “Technical Report for the Greens Creek Mine” effective date December 31, 2018, (ii) the Lucky Friday Mine are contained in its Technical Report Summary and in its technical report titled “Technical Report for the Lucky Friday Mine Shoshone County, Idaho, USA” effective date April 2, 2014, (iii) Casa Berardi are contained in its Technical Report Summary and in its NI 43-101 technical report titled “Technical Report on the Casa Berardi Mine, Northwestern Quebec, Canada” effective date December 31, 2023 and (iv) Keno Hill are contained in its Technical Report Summary and in its NI 43-101 technical report titled “Technical Report on the Keno Hill Mine, Yukon, Canada” effective date December 31, 2023. Also included in each technical report is a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant factors. Mr. Allen and Mr. Blair reviewed and verified information regarding drill sampling, data verification of all digitally collected data, drill surveys and specific gravity determinations relating to all the mines. The review encompassed quality assurance programs and quality control measures including analytical or testing practice, chain-of-custody procedures, sample storage procedures and included independent sample collection and analysis. This review found the information and procedures meet industry standards and are adequate for Mineral Resource and Mineral Reserve estimation and mine planning purposes.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 14     For further information, please contact:   Anvita M. Patil Vice President - Investor Relations and Treasurer   Cheryl Turner Communications Coordinator 800-HECLA91 (800-432-5291) Investor Relations Email: hmc-info@hecla.com Website: http://www.hecla.com   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 15     HECLA MINING COMPANY Condensed Consolidated Statements of Income (Loss) (dollars and shares in thousands, except per share amounts - unaudited)       Three Months Ended     Nine Months Ended       September 30, 2024     June 30, 2024     September 30, 2024     September 30, 2023   Sales   $ 245,085     $ 245,657     $ 680,270     $ 559,537   Cost of sales and other direct production costs     144,855       140,464       406,780       345,516   Depreciation, depletion and amortization     40,944       53,763       143,614       107,937   Total cost of sales     185,799       194,227       550,394       453,453   Gross profit     59,286       51,430       129,876       106,084                                     Other operating expenses:                                 General and administrative     10,401       14,740       36,357       30,449   Exploration and pre-development     10,553       6,682       21,577       25,546   Ramp-up and suspension costs     13,679       5,538       33,740       48,684   Write down of property, plant and equipment     14,464       —       14,464       —   Provision for closed operations and environmental matters     1,542       1,153       3,681       6,411   Other operating income     (13,828 )     (17,283 )     (48,082 )     (2,729 )       36,811       10,830       61,737       108,361   Income (loss) from operations     22,475       40,600       68,139       (2,277 ) Other expense:                                 Interest expense     (10,901 )     (12,505 )     (36,050 )     (31,186 ) Fair value adjustments, net     3,654       5,002       6,804       (5,774 ) Foreign exchange (loss) gain     (3,246 )     2,673       3,409       434   Other income     1,229       1,180       3,921       4,425         (9,264 )     (3,650 )     (21,916 )     (32,101 ) Income (loss) before income and mining taxes     13,211       36,950       46,223       (34,378 ) Income and mining tax provision     (11,450 )     (9,080 )     (22,345 )     (6,904 ) Net income (loss)     1,761       27,870       23,878       (41,282 ) Preferred stock dividends     (138 )     (138 )     (414 )     (414 ) Net income (loss) applicable to common stockholders   $ 1,623     $ 27,732     $ 23,464     $ (41,696 ) Basic income (loss) per common share after preferred dividends (in cents)   $ 0.00     $ 0.04     $ 0.04     $ (0.07 ) Diluted income (loss) per common share after preferred dividends (in cents)   $ 0.00     $ 0.04     $ 0.04     $ (0.07 ) Weighted average number of common shares outstanding basic     621,921       617,106       618,419       604,028   Weighted average number of common shares outstanding diluted     625,739       622,206       621,792       604,028     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 16     HECLA MINING COMPANY Condensed Consolidated Statements of Cash Flows (dollars in thousands - unaudited)       Quarter Ended     Nine Months Ended       September 30, 2024     June 30, 2024     September 30, 2024     September 30, 2023   OPERATING ACTIVITIES                                 Net income (loss)   $ 1,761     $ 27,870     $ 23,878     $ (41,282 ) Non-cash elements included in net income (loss):                                 Depreciation, depletion and amortization     44,118       53,921       149,265       111,705   Inventory adjustments     178       2,225       10,074       16,332   Fair value adjustments, net     (3,654 )     (5,002 )     (6,804 )     5,774   Provision for reclamation and closure costs     1,822       1,760       5,428       7,805   Stock-based compensation     2,255       2,982       6,401       5,122   Deferred income taxes     8,573       6,104       14,261       795   Net foreign exchange (gain) loss     3,246       (2,673 )     (3,409 )     (434 ) Write down of property, plant and equipment     14,464       —       14,464       —   Other non-cash items, net     341       (715 )     145       1,624   Change in assets and liabilities:                                 Accounts receivable     (7,085 )     750       (24,199 )     25,020   Inventories     3,498       (12,127 )     (27,375 )     (24,339 ) Other current and non-current assets     (7,989 )     3,104       353       (15,045 ) Accounts payable, accrued and other current liabilities     (4,690 )     6,518       (6,991 )     (2,389 ) Accrued payroll and related benefits     2,772       (1,678 )     6,592       (11,244 ) Accrued taxes     2,085       (3,101 )     1,069       (1,008 ) Accrued reclamation and closure costs and other non-current liabilities     (6,686 )     (1,220 )     (12,345 )     (3,821 ) Net cash provided by operating activities     55,009       78,718       150,807       74,615   INVESTING ACTIVITIES                                 Additions to property, plant and mine development     (55,699 )     (50,420 )     (153,708 )     (161,265 ) Proceeds from disposition of assets     199       1,227       1,473       160   Purchases of investments     —       (73 )     (73 )     (1,753 ) Net cash used in investing activities     (55,500 )     (49,266 )     (152,308 )     (162,858 ) FINANCING ACTIVITIES                                 Proceeds from sale of common stock, net     57,265       —       58,368       25,888   Acquisition of treasury shares     —       —       (1,197 )     (2,036 ) Borrowing of debt     83,000       40,000       150,000       119,000   Repayment of debt     (132,000 )     (118,000 )     (265,000 )     (39,000 ) Dividends paid to common and preferred stockholders     (8,697 )     (4,000 )     (16,691 )     (11,755 ) Repayments of finance leases     (2,336 )     (2,472 )     (7,841 )     (7,990 ) Net cash (used in) provided by financing activities     (2,768 )     (84,472 )     (82,361 )     84,107   Effect of exchange rates on cash     960       (556 )     (220 )     77   Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents     (2,299 )     (55,576 )     (84,082 )     (4,059 ) Cash, cash equivalents and restricted cash and cash equivalents at beginning of period     25,756       81,332       107,539       105,907   Cash, cash equivalents and restricted cash and cash equivalents at end of period   $ 23,457     $ 25,756     $ 23,457     $ 101,848     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 17     HECLA MINING COMPANY Condensed Consolidated Balance Sheets (dollars and shares in thousands - unaudited)       September 30, 2024     December 31, 2023   ASSETS                 Current assets:                 Cash and cash equivalents   $ 22,273     $ 106,374   Accounts receivable     56,936       33,116   Inventories     104,528       93,647   Other current assets     22,230       27,125   Total current assets     205,967       260,262   Investments     42,019       33,724   Restricted cash and cash equivalents     1,184       1,165   Property, plant and mine development, net     2,665,342       2,666,250   Operating lease right-of-use assets     5,173       8,349   Other non-current assets     36,026       41,354   Total assets   $ 2,955,711     $ 3,011,104                     LIABILITIES                 Current liabilities:                 Accounts payable and other current accrued liabilities   $ 129,946     $ 123,643   Finance leases     7,299       9,752   Accrued reclamation and closure costs     10,261       9,660   Accrued interest     5,192       14,405   Current debt     35,874       —   Total current liabilities     188,572       157,460   Accrued reclamation and closure costs     108,329       110,797   Long-term debt including finance leases     496,631       653,063   Deferred tax liabilities     111,331       104,835   Other non-current liabilities     12,566       16,845   Total liabilities     917,429       1,043,000                     STOCKHOLDERS ’ EQUITY                 Preferred stock     39       39   Common stock     159,185       156,076   Capital surplus     2,413,546       2,343,747   Accumulated deficit     (496,674 )     (503,861 ) Accumulated other comprehensive (loss) income, net     (2,883 )     5,837   Treasury stock     (34,931 )     (33,734 ) Total stockholders ’ equity     2,038,282       1,968,104   Total liabilities and stockholders ’ equity   $ 2,955,711     $ 3,011,104     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 18     Non-GAAP Measures (Unaudited)   Reconciliation of Total Cost of Sales to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Cost, Before By-product Credits and All-In Sustaining Cost, After By-product Credits (non-GAAP)   The tables below present reconciliations between the most comparable GAAP measure of total cost of sales to the non-GAAP measures of (i) Cash Cost, Before By-product Credits, (ii) Cash Cost, After By-product Credits, (iii) AISC, Before By-product Credits and (iv) AISC, After By-product Credits for our operations and for the Company for the three months ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023 and the nine months ended September 30, 2024 and 2023.   Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce are measures developed by precious metals companies (including the Silver Institute and the World Gold Council) in an effort to provide a uniform standard for comparison purposes. There can be no assurance, however, that these non-GAAP measures as we report them are the same as those reported by other mining companies.   Cash Cost, After By-product Credits, per Ounce is an important operating statistic that we utilize to measure each mine's operating performance. We use AISC, After By-product Credits, per Ounce as a measure of our mines' net cash flow after costs for reclamation and sustaining capital. This is similar to the Cash Cost, After By-product Credits, per Ounce non-GAAP measure we report, but also includes reclamation and sustaining capital costs. Current GAAP measures used in the mining industry, such as cost of goods sold, do not capture all the expenditures incurred to discover, develop and sustain silver and gold production. Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce also allow us to benchmark the performance of each of our mines versus those of our competitors. As a silver and gold mining company, we also use these statistics on an aggregate basis - aggregating the Greens Creek and Lucky Friday mines to compare our performance with that of other silver mining companies. Similarly, these statistics are useful in identifying acquisition and investment opportunities as they provide a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics.   Cash Cost, Before By-product Credits and AISC, Before By-product Credits include all direct and indirect operating cash costs related directly to the physical activities of producing metals, including mining, processing and other plant costs, third-party refining expense, on-site general and administrative costs, royalties and mining production taxes. AISC, Before By-product Credits for each mine also includes reclamation and sustaining capital costs. AISC, Before By-product Credits for our consolidated silver properties also includes corporate costs for general and administrative expense and sustaining capital costs. By-product credits include revenues earned from all metals other than the primary metal produced at each unit. As depicted in the tables below, by-product credits comprise an essential element of our silver unit cost structure, distinguishing our silver operations due to the polymetallic nature of their orebodies.   In addition to the uses described above, Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce provide management and investors an indication of operating cash flow, after consideration of the average price, received from production. We also use these measurements for the comparative monitoring of performance of our mining operations period-to-period from a cash flow perspective.   The Casa Berardi information below reports Cash Cost, After By-product Credits, per Gold Ounce and AISC, After By-product Credits, per Gold Ounce for the production of gold, their primary product, and by-product revenues earned from silver, which is a by-product at Casa Berardi. Only costs and ounces produced relating to units with the same primary product are combined to represent Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce. Thus, the gold produced at our Casa Berardi unit is not included as a by-product credit when calculating Cash Cost, After By-product Credits, per Silver Ounce and AISC, After By-product Credits, per Silver Ounce for the total of Greens Creek and Lucky Friday, our combined silver properties. Similarly, the silver produced at our other two units is not included as a by-product credit when calculating the gold metrics for Casa Berardi. We have not disclosed cost per ounce statistics for the Keno Hill operation as it is in the production ramp-up phase and has not met our definition of commercial production. Determination of when those criteria have been met requires the use of judgment, and our definition of commercial production may differ from that of other mining companies.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 19     In thousands (except per ounce amounts) Three Months Ended September 30, 2024   Three Months Ended June 30, 2024   Nine Months Ended September 30, 2024   Nine Months Ended September 30, 2023     Greens Creek   Lucky Friday   Keno Hill (4)   Corporate and other (3) Total Silver   Greens Creek   Lucky Friday   Keno Hill (4)   Corporate and other (3) Total Silver   Greens Creek   Lucky Friday (2)   Keno Hill (4)   Corporate and other (3) Total Silver   Greens Creek   Lucky Friday (2)   Keno Hill (4)   Corporate and other (3) Total Silver   Total cost of sales $ 73,597   $ 39,286   $ 19,809     — $ 132,692   $ 56,786   $ 37,523   $ 28,950   $ — $ 123,259   $ 200,240   $ 104,328   $ 59,606   $ — $ 364,174   $ 189,664   $ 81,068   $ 17,582   $ — $ 288,314   Depreciation, depletion and amortization   (13,948 )   (10,681 )   (4,218 )   —   (28,847 )   (11,316 )   (10,708 )   (4,729 )   —   (26,753 )   (39,707 )   (29,300 )   (12,549 )   —   (81,556 )   (38,557 )   (23,741 )   (2,209 )   —   (64,507 ) Treatment costs   5,962     3,650     —     —   9,612     6,069     2,746     —     —   8,815     21,755     9,619     -     —   31,374     31,114     10,832     1,146     —   43,092   Change in product inventory   (8,125 )   106     —     —   (8,019 )   7,296     (115 )   —     —   7,181     (3,025 )   602     —     —   (2,423 )   (2,479 )   (3,313 )   —     —   (5,792 ) Reclamation and other costs   (1,825 )   (241 )   —     —   (2,066 )   (882 )   (311 )   —     —   (1,193 )   (3,362 )   (654 )   —     —   (4,016 )   (214 )   (826 )   —     —   (1,040 ) Exclusion of Lucky Friday cash costs (5)   —     —     —     —   —     —     —     —     —   —     —     (3,634 )   —     —   (3,634 )   —     (20 )   —     —   (20 ) Exclusion of Keno Hill cash costs (4)   —     —     (15,591 )   —   (15,591 )   —     —     (24,221 )   —   (24,221 )   —     —     (47,057 )   —   (47,057 )   —     —     (16,519 )   —   (16,519 ) Cash Cost, Before By-product Credits (1)   55,661     32,120     —     —   87,781     57,953     29,135     —     —   87,088     175,901     80,961     —     —   256,862     179,528     64,000     —     —   243,528   Reclamation and other costs   786     303     —     —   1,089     785     183     —     —   968     2,356     708     —     —   3,064     2,166     671     —     —   2,837   Sustaining capital   10,558     10,862     —     42   21,462     10,911     9,517     —     1,035   21,463     29,885     32,430     —     1,143   63,458     26,686     24,251     —     831   51,768   Exclusion of Lucky Friday sustaining costs (5)   —     —     —     —   —     —     —     —     —   —     —     (5,396 )   —     —   (5,396 )   —     (4,934 )   —     —   (4,934 ) General and administrative   —     —     —     10,401   10,401     —     —     —     14,740   14,740     —     —     —     36,357   36,357     —     —     —     30,449   30,449   AISC, Before By-product Credits (1)   67,005     43,285     —     10,443   120,733     69,649     38,835     —     15,775   124,259     208,142     108,703     —     37,500   354,345     208,380     83,988     —     31,280   323,648   By-product credits:                                                                                                                 Zinc   (22,126 )   (7,046 )   —     —   (29,172 )   (21,873 )   (6,706 )   —     —   (28,579 )   (64,205 )   (18,537 )   —     —   (82,742 )   (64,955 )   (14,284 )   —     —   (79,239 ) Gold   (25,430 )   —     —     —   (25,430 )   (28,844 )   —     —     —   (28,844 )   (80,826 )   —     —     —   (80,826 )   (79,089 )   —     —     —   (79,089 ) Lead   (5,970 )   (13,245 )   —     —   (19,215 )   (6,818 )   (15,466 )   —     —   (22,284 )   (19,769 )   (40,432 )   —     —   (60,201 )   (22,002 )   (33,953 )   —     —   (55,955 ) Copper   (409 )   —     —     —   (409 )   —     —     —     —   —     (409 )   —     —     —   (409 )                             Exclusion of Lucky Friday byproduct credits (5)   —     —     —     —   —     —     —     —     —   —     —     3,943     —     —   3,943     —     676     —     —   676   Total By-product credits   (53,935 )   (20,291 )   —     —   (74,226 )   (57,535 )   (22,172 )   —     —   (79,707 )   (165,209 )   (55,026 )   —     —   (220,235 )   (166,046 )   (47,561 )   —     —   (213,607 ) Cash Cost, After By-product Credits $ 1,726   $ 11,829   $ —   $ — $ 13,555   $ 418   $ 6,963   $ —   $ — $ 7,381   $ 10,692   $ 25,935   $ —   $ — $ 36,627   $ 13,482   $ 16,439   $ —   $ — $ 29,921   AISC, After By-product Credits $ 13,070   $ 22,994   $ —   $ 10,443 $ 46,507   $ 12,114   $ 16,663   $ —   $ 15,775 $ 44,552   $ 42,933   $ 53,677   $ —   $ 37,500 $ 134,110   $ 42,334   $ 36,427   $ —   $ 31,280 $ 110,041   Ounces produced   1,857     1,185               3,042     2,244     1,308               3,552     6,579     3,554               10,133     7,472     3,025               10,497   Exclusion of Lucky Friday ounces produced (5)   —     —               —     —     —               —     —     (253 )             (253 )   —     (41 )             (41 ) Divided by ounces produced   1,857     1,185               3,042     2,244     1,308               3,552     6,579     3,301               9,880     7,472     2,984               10,456   Cash Cost, Before By-product Credits, per Silver Ounce $ 29.97   $ 27.11             $ 28.86   $ 25.83   $ 22.27             $ 24.52   $ 26.73   $ 24.53             $ 26.00   $ 24.03   $ 21.45             $ 23.29   By-product credits per ounce   (29.04 )   (17.13 )             (24.40 )   (25.64 )   (16.95 )             (22.44 )   (25.11 )   (16.67 )             (22.29 )   (22.22 )   (15.94 )             (20.43 ) Cash Cost, After By-product Credits, per Silver Ounce $ 0.93   $ 9.98             $ 4.46   $ 0.19   $ 5.32             $ 2.08   $ 1.62   $ 7.86             $ 3.71   $ 1.81   $ 5.51             $ 2.86   AISC, Before By-product Credits, per Silver Ounce $ 36.08   $ 36.53             $ 39.69   $ 31.04   $ 29.69             $ 34.98   $ 31.64   $ 32.93             $ 35.86   $ 27.89   $ 28.15             $ 30.95   By-product credits per ounce   (29.04 )   (17.13 )             (24.40 )   (25.64 )   (16.95 )             (22.44 )   (25.11 )   (16.67 )             (22.29 )   (22.22 )   (15.94 )             (20.43 ) AISC, After By-product Credits, per Silver Ounce $ 7.04   $ 19.40             $ 15.29   $ 5.40   $ 12.74             $ 12.54   $ 6.53   $ 16.26             $ 13.57   $ 5.67   $ 12.21             $ 10.52     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 20     In thousands (except per ounce amounts)   Three Months Ended September 30, 2024     Three Months Ended June 30, 2024     Nine Months Ended September 30, 2024     Nine Months Ended September 30, 2023       Casa Berardi     Other (3)     Total Gold and Other     Casa Berardi     Other (3)     Total Gold and Other     Casa Berardi         Other (3)     Total Gold and Other     Casa Berardi     Other (3)     Total Gold and Other   Total cost of sales   $ 46,280     $ 6,827     $ 53,107     $ 67,340     $ 3,628     $ 70,968     $ 171,880         $ 14,340     $ 186,220     $ 162,396     $ 2,743     $ 165,139   Depreciation, depletion and amortization     (12,097 )     —       (12,097 )     (27,010 )     —       (27,010 )     (62,058 )         —       (62,058 )     (43,288 )     (142 )     (43,430 ) Treatment costs     36       —       36       52       —       52       112           —       112       1,072       —       1,072   Change in product inventory     2,176       —       2,176       (550 )     —       (550 )     3,365           —       3,365       (5,345 )     —       (5,345 ) Reclamation and other costs     (207 )     —       (207 )     (206 )     —       (206 )     (622 )         —       (622 )     (655 )     —       (655 ) Exclusion of Other costs (6)     —       (6,827 )     (6,827 )     —       (3,628 )     (3,628 )     —           (14,340 )     (14,340 )     (2,851 )     (2,601 )     (5,452 ) Cash Cost, Before By-product Credits (1)     36,188       —       36,188       39,626       —       39,626       112,677           —       112,677       111,329       —       111,329   Reclamation and other costs     207       —       207       206               206       622   —       —       622       655       —       655   Sustaining capital     6,054       —       6,054       2,667       —       2,667       13,582   —       —       13,582       29,175       —       29,175   AISC, Before By-product Credits (1)     42,449       —       42,449       42,499       —       42,499       126,881           —       126,881       141,159       —       141,159   By-product credits:                                                                                                     Silver     (163 )     —       (163 )     (183 )     —       (183 )     (489 )         —       (489 )     (390 )     —       (390 ) Total By-product credits     (163 )     —       (163 )     (183 )     —       (183 )     (489 )         —       (489 )     (390 )     —       (390 ) Cash Cost, After By-product Credits   $ 36,025     $ —     $ 36,025     $ 39,443     $ —     $ 39,443     $ 112,188         $ —     $ 112,188     $ 110,939     $ —     $ 110,939   AISC, After By-product Credits   $ 42,286     $ —     $ 42,286     $ 42,316     $ —     $ 42,316     $ 126,392         $ —     $ 126,392     $ 140,769     $ —     $ 140,769   Divided by gold ounces produced     21       —       21       23       —       23       66           —       66       68               68   Cash Cost, Before By-product Credits, per Gold Ounce   $ 1,762     $ —     $ 1,762     $ 1,709     $ —     $ 1,709     $ 1,714         $ —     $ 1,714     $ 1,641     $ —     $ 1,641   By-product credits per ounce     (8 )     —       (8 )     (8 )     —       (8 )     (7 )         —       (7 )     (6 )     —       (6 ) Cash Cost, After By-product Credits, per Gold Ounce   $ 1,754     $ —     $ 1,754     $ 1,701     $ —     $ 1,701     $ 1,707         $ —     $ 1,707     $ 1,635     $ —     $ 1,635   AISC, Before By-product Credits, per Gold Ounce   $ 2,067     $ —     $ 2,067     $ 1,833     $ —     $ 1,833     $ 1,930         $ —     $ 1,930     $ 2,081     $ —     $ 2,081   By-product credits per ounce     (8 )     —       (8 )     (8 )     —       (8 )     (7 )         —       (7 )     (6 )     —       (6 ) AISC, After By-product Credits, per Gold Ounce   $ 2,059     $ —     $ 2,059     $ 1,825     $ —     $ 1,825     $ 1,923         $ —     $ 1,923     $ 2,075     $ —     $ 2,075     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 21     In thousands (except per ounce amounts)   Three Months Ended September 30, 2024     Three Months Ended June 30, 2024     Nine Months Ended September 30, 2024     Nine Months Ended September 30, 2023       Total Silver     Total Gold and Other     Total     Total Silver     Total Gold and Other     Total     Total Silver     Total Gold and Other     Total     Total Silver     Total Gold and Other     Total   Total cost of sales   $ 132,692     $ 53,107     $ 185,799     $ 123,259     $ 70,968     $ 194,227     $ 364,174     $ 186,220     $ 550,394     $ 288,314     $ 165,139     $ 453,453   Depreciation, depletion and amortization     (28,847 )     (12,097 )     (40,944 )     (26,753 )     (27,010 )     (53,763 )     (81,556 )     (62,058 )     (143,614 )     (64,507 )     (43,430 )     (107,937 ) Treatment costs     9,612       36       9,648       8,815       52       8,867       31,374       112       31,486       43,092       1,072       44,164   Change in product inventory     (8,019 )     2,176       (5,843 )     7,181       (550 )     6,631       (2,423 )     3,365       942       (5,792 )     (5,345 )     (11,137 ) Reclamation and other costs     (2,066 )     (207 )     (2,273 )     (1,193 )     (206 )     (1,399 )     (4,016 )     (622 )     (4,638 )     (1,040 )     (655 )     (1,695 ) Exclusion of Lucky Friday cash costs (5)     —       —       —       —       —       —       (3,634 )     —       (3,634 )     (20 )     —       (20 ) Exclusion of Keno Hill cash costs (4)     (15,591 )     —       (15,591 )     (24,221 )     —       (24,221 )     (47,057 )     —       (47,057 )     (16,519 )     —       (16,519 ) Exclusion of Other costs (6)     —       (6,827 )     (6,827 )     —       (3,628 )     (3,628 )     —       (14,340 )     (14,340 )     —       (5,452 )     (5,452 ) Cash Cost, Before By-product Credits (1)     87,781       36,188       123,969       87,088       39,626       126,714       256,862       112,677       369,539       243,528       111,329       354,857   Reclamation and other costs     1,089       207       1,296       968       206       1,174       3,064       622       3,686       2,837       655       3,492   Sustaining capital     21,462       6,054       27,516       21,463       2,667       24,130       63,458       13,582       77,040       51,768       29,175       80,943   Exclusion of Lucky Friday sustaining costs (5)     —       —       —       —       —       —       (5,396 )     —       (5,396 )     (4,934 )     —       (4,934 ) General and administrative     10,401       —       10,401       14,740       —       14,740       36,357       —       36,357       30,449       —       30,449   AISC, Before By-product Credits (1)     120,733       42,449       163,182       124,259       42,499       166,758       354,345       126,881       481,226       323,648       141,159       464,807   By-product credits:                                                                                                 Zinc     (29,172 )     —       (29,172 )     (28,579 )     —       (28,579 )     (82,742 )     —       (82,742 )     (79,239 )     —       (79,239 ) Gold     (25,430 )     —       (25,430 )     (28,844 )     —       (28,844 )     (80,826 )     —       (80,826 )     (79,089 )     —       (79,089 ) Lead     (19,215 )     —       (19,215 )     (22,284 )     —       (22,284 )     (60,201 )     —       (60,201 )     (55,955 )     —       (55,955 ) Silver     —       (163 )     (163 )     —       (183 )     (183 )     —       (489 )     (489 )     —       (390 )     (390 ) Copper     (409 )     —       (409 )     —       —       —       (409 )     —       (409 )     —       —       —   Exclusion of Lucky Friday by-product credits (5)     —       —       —       —       —       —       3,943       —       3,943       676       —       676   Total By-product credits     (74,226 )     (163 )     (74,389 )     (79,707 )     (183 )     (79,890 )     (220,235 )     (489 )     (220,724 )     (213,607 )     (390 )     (213,997 ) Cash Cost, After By-product Credits   $ 13,555     $ 36,025     $ 49,580     $ 7,381     $ 39,443     $ 46,824     $ 36,627     $ 112,188     $ 148,815     $ 29,921     $ 110,939     $ 140,860   AISC, After By-product Credits   $ 46,507     $ 42,286     $ 88,793     $ 44,552     $ 42,316     $ 86,868     $ 134,110     $ 126,392     $ 260,502     $ 110,041     $ 140,769     $ 250,810   Ounces produced     3,042       21               3,552       23               10,133       66               10,497       68           Exclusion of Lucky Friday ounces produced (5)     —       —               —       —               (253 )     —               (41 )     —           Divided by ounces produced     3,042       21               3,552       23               9,880       66               10,456       68           Cash Cost, Before By-product Credits, per Ounce   $ 28.86     $ 1,762             $ 24.52     $ 1,709             $ 26.00     $ 1,714             $ 23.29     $ 1,641           By-product credits per ounce     (24.40 )     (8 )             (22.44 )     (8 )             (22.29 )     (7 )             (20.43 )     (6 )         Cash Cost, After By-product Credits, per Ounce   $ 4.46     $ 1,754             $ 2.08     $ 1,701             $ 3.71     $ 1,707             $ 2.86     $ 1,635           AISC, Before By-product Credits, per Ounce   $ 39.69     $ 2,067             $ 34.98     $ 1,833             $ 35.86     $ 1,930             $ 30.95     $ 2,081           By-product credits per ounce     (24.40 )     (8 )             (22.44 )     (8 )             (22.29 )     (7 )             (20.43 )     (6 )         AISC, After By-product Credits, per Ounce   $ 15.29       2,059             $ 12.54       1,825             $ 13.57       1,923             $ 10.52       2,075             Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 22     In thousands (except per ounce amounts)   Three Months Ended March 31, 2024     Three Months Ended December 31, 2023     Three Months Ended September 30, 2023       Greens Creek     Lucky Friday     Keno Hill (4)     Corporate (2)     Total Silver     Greens Creek     Lucky Friday     Keno Hill (4)     Corporate (2)     Total Silver     Greens Creek     Lucky Friday     Keno Hill (4)     Corporate (2)   Total cost of sales   $ 69,857     $ 27,519     $ 10,847     $ —     $ 108,223     $ 70,231     $ 3,117     $ 17,936     $ —     $ 91,284     $ 60,322     $ 14,344     $ 16,001     $ —   Depreciation, depletion and amortization     (14,443 )     (7,911 )     (3,602 )     —       (25,956 )     (15,438 )     (584 )     (2,068 )     —       (18,090 )     (11,015 )     (4,306 )     (1,948 )     —   Treatment costs     9,724       3,223       —       —       12,947       9,873       149       (76 )     —       9,946       10,369       1,368       1,033       —   Change in product inventory     (2,196 )     611       —       —       (1,585 )     (1,787 )     (1,851 )     —       —       (3,638 )     377       (2,450 )     —       —   Reclamation and other costs     (655 )     (102 )     —       —       (757 )     (534 )     —       —       —       (534 )     (348 )     (168 )     —       —   Exclusion of Lucky Friday cash costs (5)     —       (3,634 )     —       —       (3,634 )     —       (831 )     —       —       (831 )     —       (20 )     —       —   Exclusion of Keno Hill cash costs (4)     —       —       (7,245 )     —       (7,245 )     —       —       (15,792 )     —       (15,792 )     —       —       (15,086 )     —   Cash Cost, Before By-product Credits (1)     62,287       19,706       —       —       81,993       62,345       —       —       —       62,345       59,705       8,768       —       —   Reclamation and other costs     785       222       —       —       1,007       723       —       —       —       723       722       101       —       —   Sustaining capital     8,416       12,051       —       66       20,533       15,249       14,768       —       97       30,114       11,330       7,386       —       237   Exclusion of Lucky Friday sustaining costs (5)     —       (5,396 )     —       —       (5,396 )     —       (14,768 )             —       (14,768 )     —       (4,934 )                 General and administrative     —       —       —       11,216       11,216       —       —       —       12,273       12,273       —       —       —       7,596   AISC, Before By-product Credits (1)     71,488       26,583       —       11,282       109,353       78,317       —       —       12,370       90,687       71,757       11,321       —       7,833   By-product credits:                                                                                                                 Zinc     (20,206 )     (4,785 )     —       —       (24,991 )     (18,499 )     (223 )     —       —       (18,722 )     (20,027 )     (2,019 )     —       —   Gold     (26,551 )     —       —       —       (26,551 )     (25,418 )     —       —       —       (25,418 )     (25,344 )     —       —       —   Lead     (6,980 )     (11,720 )     —       —       (18,700 )     (7,282 )     (667 )     —       —       (7,949 )     (7,201 )     (5,368 )     —       —   Exclusion of Lucky Friday byproduct credits (5)             3,943       —       —       3,943       —       890                       890       —       676                   Total By-product credits     (53,737 )     (12,562 )     —       —       (66,299 )     (51,199 )     —       —       —       (51,199 )     (52,572 )     (6,711 )     —       —   Cash Cost, After By-product Credits   $ 8,550     $ 7,144     $ —     $ —     $ 15,694     $ 11,146     $ —     $ —     $ —     $ 11,146     $ 7,133     $ 2,057     $ —     $ —   AISC, After By-product Credits   $ 17,751     $ 14,021     $ —     $ 11,282     $ 43,054     $ 27,118     $ —     $ —     $ 12,370     $ 39,488     $ 19,185     $ 4,610     $ —     $ 7,833   Ounces produced     2,479       1,061                       3,540       2,260       62                       2,322       2,343       475                   Exclusion of Lucky Friday ounces produced (5)     —       (253 )                     (253 )     —       (62 )                     (62 )     —       (41 )                 Divided by ounces produced     2,479       808                       3,287       2,260       —                       2,260       2,343       434                   Cash Cost, Before By-product Credits, per Silver Ounce   $ 25.13     $ 24.41                     $ 24.95     $ 27.59       N/A                     $ 27.59     $ 25.48     $ 20.20                   By-product credits per ounce     (21.68 )     (15.56 )                     (20.17 )     (22.65 )     N/A                       (22.65 )     (22.44 )     (15.46 )                 Cash Cost, After By-product Credits, per Silver Ounce   $ 3.45     $ 8.85                     $ 4.78     $ 4.94       N/A                     $ 4.94     $ 3.04     $ 4.74                   AISC, Before By-product Credits, per Silver Ounce   $ 28.84     $ 32.92                     $ 33.27     $ 34.65       N/A                     $ 40.13     $ 30.62     $ 26.09                   By-product credits per ounce     (21.68 )     (15.56 )                     (20.17 )     (22.65 )     N/A                       (22.65 )     (22.44 )     (15.46 )                 AISC, After By-product Credits, per Silver Ounce   $ 7.16     $ 17.36                     $ 13.10     $ 12.00       N/A                     $ 17.48     $ 8.18     $ 10.63                     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 23     In thousands (except per ounce amounts)   Three Months Ended March 31, 2024     Three Months Ended December 31, 2023     Three Months Ended September 30, 2023       Casa Berardi     Other (3)     Total Gold and Other     Casa Berardi     Other (3)     Total Gold and Other     Casa Berardi     Other (3)     Total Gold and Other   Total cost of sales   $ 58,260     $ 3,885     $ 62,145     $ 58,945     $ 3,596     $ 62,541     $ 56,822     $ 940     $ 57,762   Depreciation, depletion and amortization     (22,951 )     —       (22,951 )     (22,749 )     2       (22,747 )     (18,980 )     32       (18,948 ) Treatment costs     24       —       24       37       —       37       254       —       254   Change in product inventory     1,739       —       1,739       2,432       —       2,432       (1,977 )     —       (1,977 ) Reclamation and other costs     (209 )     —       (209 )     (216 )     —       (216 )     (219 )     —       (219 ) Exclusion of Other costs (6)     —       (3,885 )     (3,885 )     —       (3,598 )     (3,598 )     —       (972 )     (972 ) Cash Cost, Before By-product Credits (1)     36,863       —       36,863       38,449       —       38,449       35,900       —       35,900   Reclamation and other costs     209       —       209       216       —       216       219       —       219   Sustaining capital     4,861       —       4,861       5,796       —       5,796       5,133       —       5,133   AISC, Before By-product Credits (1)     41,933       —       41,933       44,461       —       44,461       41,252       —       41,252   By-product credits:                                                                         Silver     (143 )     —       (143 )     (132 )     —       (132 )     (119 )     —       (119 ) Total By-product credits     (143 )     —       (143 )     (132 )     —       (132 )     (119 )     —       (119 ) Cash Cost, After By-product Credits   $ 36,720     $ —     $ 36,720     $ 38,317     $ —     $ 38,317     $ 35,781     $ —     $ 35,781   AISC, After By-product Credits   $ 41,790     $ —     $ 41,790     $ 44,329     $ —     $ 44,329     $ 41,133     $ —     $ 41,133   Divided by gold ounces produced     22       —       22       23       —       23       24       —       24   Cash Cost, Before By-product Credits, per Gold Ounce   $ 1,675     $ —     $ 1,675     $ 1,708     $ —     $ 1,708     $ 1,480     $ —     $ 1,480   By-product credits per ounce     (6 )     —       (6 )     (6 )     —       (6 )     (5 )     —       (5 ) Cash Cost, After By-product Credits, per Gold Ounce   $ 1,669     $ —     $ 1,669     $ 1,702     $ —     $ 1,702     $ 1,475     $ —     $ 1,475   AISC, Before By-product Credits, per Gold Ounce   $ 1,905     $ —     $ 1,905     $ 1,975     $ —     $ 1,975     $ 1,700     $ —     $ 1,700   By-product credits per ounce     (6 )     —       (6 )     (6 )     —       (6 )     (5 )     —       (5 ) AISC, After By-product Credits, per Gold Ounce   $ 1,899     $ —     $ 1,899     $ 1,969     $ —     $ 1,969     $ 1,695     $ —     $ 1,695     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 24     In thousands (except per ounce amounts)   Three Months Ended March 31, 2024     Three Months Ended December 31, 2023     Three Months Ended September 30, 2023       Total Silver     Total Gold and Other     Total     Total Silver     Total Gold and Other     Total     Total Silver     Total Gold and Other     Total   Total cost of sales   $ 108,223     $ 62,145     $ 170,368     $ 91,284     $ 62,541     $ 153,825     $ 90,667     $ 57,762     $ 148,429   Depreciation, depletion and amortization     (25,956 )     (22,951 )     (48,907 )     (18,090 )     (22,747 )     (40,837 )     (17,269 )     (18,948 )     (36,217 ) Treatment costs     12,947       24       12,971       9,946       37       9,983       12,770       254       13,024   Change in product inventory     (1,585 )     1,739       154       (3,638 )     2,432       (1,206 )     (2,073 )     (1,977 )     (4,050 ) Reclamation and other costs     (757 )     (209 )     (966 )     (534 )     (216 )     (750 )     (516 )     (219 )     (735 ) Exclusion of Lucky Friday cash costs (5)     (3,634 )     —       (3,634 )     (831 )     —       (831 )     (20 )     —       (20 ) Exclusion of Keno Hill cash costs (4)     (7,245 )     —       (7,245 )     (15,792 )     —       (15,792 )     (15,086 )     —       (15,086 ) Exclusion of Other costs (6)     —       (3,885 )     (3,885 )     —       (3,598 )     (3,598 )     —       (972 )     (972 ) Cash Cost, Before By-product Credits (1)     81,993       36,863       118,856       62,345       38,449       100,794       68,473       35,900       104,373   Reclamation and other costs     1,007       209       1,216       723       216       939       823       219       1,042   Sustaining capital     20,533       4,861       25,394       30,114       5,796       35,910       18,953       5,133       24,086   Exclusion of Lucky Friday sustaining costs     (5,396 )     —       (5,396 )     (14,768 )     —       (14,768 )     (4,934 )     —       (4,934 ) General and administrative     11,216       —       11,216       12,273       —       12,273       7,596       —       7,596   AISC, Before By-product Credits (1)     109,353       41,933       151,286       90,687       44,461       135,148       90,911       41,252       132,163   By-product credits:                                                                         Zinc     (24,991 )     —       (24,991 )     (18,722 )     —       (18,722 )     (22,046 )     —       (22,046 ) Gold     (26,551 )     —       (26,551 )     (25,418 )     —       (25,418 )     (25,344 )     —       (25,344 ) Lead     (18,700 )     —       (18,700 )     (7,949 )     —       (7,949 )     (12,569 )     —       (12,569 ) Silver     —       (143 )     (143 )     0       (132 )     (132 )     —       (119 )     (119 ) Exclusion of Lucky Friday byproduct credits (5)     3,943       —       3,943       890       —       890       676       —       676   Total By-product credits     (66,299 )     (143 )     (66,442 )     (51,199 )     (132 )     (51,331 )     (59,283 )     (119 )     (59,402 ) Cash Cost, After By-product Credits   $ 15,694     $ 36,720     $ 52,414     $ 11,146     $ 38,317     $ 49,463     $ 9,190     $ 35,781     $ 44,971   AISC, After By-product Credits   $ 43,054     $ 41,790     $ 84,844     $ 39,488     $ 44,329     $ 83,817     $ 31,628     $ 41,133     $ 72,761   Ounces produced     3,540       22               2,322       23               2,818       24           Exclusion of Lucky Friday ounces produced (5)     (253 )     —               (62 )     —               (41 )     —           Divided by ounces produced     3,287       22               2,260       23               2,777       24           Cash Cost, Before By-product Credits, per Ounce   $ 24.95     $ 1,675             $ 27.59       1,708             $ 24.66     $ 1,480           By-product credits per ounce     (20.17 )     (6 )             (22.65 )     (6 )             (21.35 )     (5 )         Cash Cost, After By-product Credits, per Ounce   $ 4.78     $ 1,669             $ 4.94     $ 1,702             $ 3.31     $ 1,475           AISC, Before By-product Credits, per Ounce   $ 33.27     $ 1,905             $ 40.13     $ 1,975             $ 32.74     $ 1,700           By-product credits per ounce     (20.17 )     (6 )             (22.65 )     (6 )             (21.35 )     (5 )         AISC, After By-product Credits, per Ounce   $ 13.10     $ 1,899             $ 17.48     $ 1,969             $ 11.39     $ 1,695             (1) Includes all direct and indirect operating costs related to the physical activities of producing metals, including mining, processing and other plant costs, third-party refining and marketing expense, on-site general and administrative costs and royalties, before by-product revenues earned from all metals other than the primary metal produced at each operation. AISC, Before By-product Credits also includes reclamation and sustaining capital costs.   (2) AISC, Before By-product Credits for our consolidated silver properties includes corporate costs for general and administrative expense and sustaining capital.   (3) Other includes $6.8 million, $3.6 million, $3.9 million, $3.6 million, and $0.9 million of total cost of sales for the three months ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023, and September 30, 2023 respectively, and $14.3 million and $2.7 million for the nine months ended September 30, 2024 and 2023, related to the Company's environmental remediation services business and Nevada operations.   (4) Keno Hill is in the ramp-up phase of production and is excluded from the calculation of total cost of sales, Cash Cost, Before By-product Credits, Cash Cost, After By-product Credits, AISC, Before By-product Credits, and AISC, After By-product Credits.   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 25     (5) Lucky Friday operations were suspended in August 2023 following the underground fire in the #2 shaft secondary egress. The portion of cash costs, sustaining costs, by-product credits, and silver production incurred since the suspension are excluded from the calculation of total cost of sales, Cash Cost, Before By-product Credits, Cash Cost, After By-product Credits, AISC, Before By-product Credits, and AISC, After By-product Credits.   (6) During the nine months ended September 30, 2023, the Company completed the necessary studies to conclude usage of the F-160 pit as a tailings storage facility after mining is complete. As a result, a portion of the mining costs have been excluded from Cash Cost, Before By-product Credits and AISC, Before By-product Credits.     2024 Guidance, Previous and Current Estimates: Reconciliation of Cost of Sales to Non-GAAP Measures   In thousands (except per ounce amounts)   Previous estimate for Twelve Months Ended December 31, 2024       Greens Creek     Lucky Friday     Corporate (3)             Total Silver             Casa Berardi             Total Gold   Cost of sales and other direct production costs and depreciation, depletion and amortization   $ 252,000     $ 134,000                     $ 386,000             $ 214,000             $ 214,000   Depreciation, depletion and amortization     (44,000 )     (38,000 )                     (82,000 )             (67,000 )             (67,000 ) Treatment costs     28,000       11,000                       39,000               0               0   Change in product inventory     —       (2,000 )                     (2,000 )             —               —   Reclamation and other costs     0       —                       —               —               —   Cash Cost, Before By-product Credits (1)     236,000       105,000                       341,000       —       147,000       —       147,000   Reclamation and other costs     3,000       1,000                       4,000               1,000               1,000   Sustaining capital     51,000       44,000       1,101               96,101               16,000               16,000   General and administrative     -       -       50,463               50,463               —               —   AISC, Before By-product Credits (1)     290,000       150,000       51,564       —       491,564       —       164,000       —       164,000   By-product credits:                                                                         Zinc     (89,000 )     (26,000 )                     (115,000 )             —               —   Gold     (98,000 )     —                       (98,000 )             —               —   Lead     (28,000 )     (56,000 )                     (84,000 )             —               —   Silver     0       0                       —               (600 )             (600 ) Total By-product credits     (215,000 )     (82,000 )     —               (297,000 )             (600 )             (600 ) Cash Cost, After By-product Credits   $ 21,000     $ 23,000     $ —             $ 44,000             $ 146,400             $ 146,400   AISC, After By-product Credits   $ 75,000     $ 68,000     $ 51,564             $ 194,564             $ 163,400             $ 163,400   Divided by ounces produced     9,000       5,150                       14,150               83.5               83.5   Cash Cost, Before By-product Credits, per Ounce   $ 26.22     $ 20.39                     $ 24.10             $ 1,760             $ 1,760   By-product credits per ounce     (23.89 )     (15.92 )                     (20.99 )             (7 )             (7 ) Cash Cost, After By-product Credits, per Ounce   $ 2.33     $ 4.47                     $ 3.11             $ 1,753             $ 1,753   AISC, Before By-product Credits, per Ounce   $ 32.22     $ 29.13                     $ 34.74             $ 1,964             $ 1,964   By-product credits per ounce     (23.89 )     (15.92 )                     (20.99 )             (7 )             (7 ) AISC, After By-product Credits, per Ounce   $ 8.33     $ 13.21                     $ 13.75             $ 1,957             $ 1,957     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 26       In thousands (except per ounce amounts)   Current estimate for Twelve Months Ended December 31, 2024       Greens Creek     Lucky Friday     Corporate (3)             Total Silver             Casa Berardi             Total Gold   Total cost of sales   $ 265,000     $ 140,000                     $ 405,000             $ 215,000             $ 215,000   Depreciation, depletion and amortization     (54,000 )     (39,000 )                     (93,000 )             (71,500 )             (71,500 ) Treatment costs     28,000       11,000                       39,000               0               0   Change in product inventory     —       (2,000 )                     (2,000 )             2,000               2,000   Reclamation and other costs     (7,500 )     —                       (7,500 )             —               —   Cash Cost, Before By-product Credits (1)     231,500       110,000                       341,500       —       145,500       —       145,500   Reclamation and other costs     3,000       1,000                       4,000               1,000               1,000   Sustaining capital     50,000       40,000       1,143               91,143               18,500               18,500   General and administrative     -       -       48,346               48,346               —               —   AISC, Before By-product Credits (1)     284,500       151,000       49,489       —       484,989       —       165,000       —       165,000   By-product credits:                                                                         Zinc     (86,000 )     (25,000 )                     (111,000 )             —               —   Gold     (103,000 )     —                       (103,000 )             —               —   Lead     (27,000 )     (53,500 )                     (80,500 )             —               —   Copper     (500 )     —                       (500 )             —               —   Silver     0       0                       —               (600 )             (600 ) Total By-product credits     (216,500 )     (78,500 )     —               (295,000 )             (600 )             (600 ) Cash Cost, After By-product Credits   $ 15,000     $ 31,500     $ —             $ 46,500             $ 144,900             $ 144,900   AISC, After By-product Credits   $ 68,000     $ 72,500     $ 49,489             $ 189,989             $ 164,400             $ 164,400   Divided by ounces produced     8,800       4,850                       13,650               85.5               85.5   Cash Cost, Before By-product Credits, per Ounce   $ 26.31     $ 22.68                     $ 25.02             $ 1,702             $ 1,702   By-product credits per ounce     (24.60 )     (16.19 )                     (21.61 )             (7 )             (7 ) Cash Cost, After By-product Credits, per Ounce   $ 1.71     $ 6.49                     $ 3.41             $ 1,695             $ 1,695   AISC, Before By-product Credits, per Ounce   $ 32.33     $ 31.13                     $ 35.53             $ 1,930             $ 1,930   By-product credits per ounce     (24.60 )     (16.19 )                     (21.61 )             (7 )             (7 ) AISC, After By-product Credits, per Ounce   $ 7.73     $ 14.95                     $ 13.91             $ 1,923             $ 1,923     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 27     Reconciliation of Net Income (Loss) (GAAP) and Debt (GAAP) to Adjusted EBITDA (non-GAAP) and Net Debt (non-GAAP)   This release refers to the non-GAAP measures of adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), which is a measure of our operating performance, and net debt to adjusted EBITDA for the last 12 months (or "LTM adjusted EBITDA"), which is a measure of our ability to service our debt. Adjusted EBITDA is calculated as net income (loss) before the following items: interest expense, income and mining taxes, depreciation, depletion, and amortization expense, ramp-up and suspension costs, gains and losses on disposition of assets, foreign exchange gains and losses, write down of property, plant and equipment, fair value adjustments, net, interest and other income, provisions for environmental matters, stock-based compensation, provisional price gains and losses, monetization of zinc and lead hedges and inventory adjustments. Net debt is calculated as total debt, which consists of the liability balances for our Senior Notes, capital leases, and other notes payable, less the total of our cash and cash equivalents and short-term investments. Management believes that, when presented in conjunction with comparable GAAP measures, adjusted EBITDA and net debt to LTM adjusted EBITDA are useful to investors in evaluating our operating performance and ability to meet our debt obligations. The following table reconciles net income (loss) and debt to adjusted EBITDA and net debt:   Dollars are in thousands   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     LTM September 30, 2024     FY 2023   Net income (loss)   $ 1,761     $ 27,870     $ (5,753 )   $ (42,935 )   $ (22,415 )   $ (19,057 )   $ (84,217 ) Interest expense     10,901       12,505       12,644       12,133       10,710       48,183     $ 43,319   Income and mining tax expense (benefit)     11,450       9,080       1,815       (5,682 )     (1,500 )     16,663     $ 1,222   Depreciation, depletion and amortization     44,118       53,921       51,226       51,967       37,095       201,232     $ 163,672   Ramp-up and suspension costs     11,295       4,272       10,926       23,814       21,025       50,307     $ 72,498   (Gain) loss on disposition of assets     (31 )     (1,196 )     69       1,043       (119 )     (115 )   $ 849   Foreign exchange loss (gain)     3,246       (2,673 )     (3,982 )     4,244       (4,176 )     835     $ 3,810   Write down of property, plant and equipment     14,464       —       —       —       —       14,464     $ —   Fair value adjustments, net     (3,654 )     (5,002 )     1,852       (8,699 )     6,397       (15,503 )   $ (2,925 ) Provisional price gains     (5,080 )     (10,937 )     (3,533 )     (5,930 )     (8,064 )     (25,480 )   $ (18,230 ) Provision for closed operations and environmental matters     1,542       1,153       986       1,164       2,256       4,845     $ 7,575   Stock-based compensation     2,255       2,982       1,164       1,476       2,434       7,877     $ 6,598   Inventory adjustments     178       2,225       7,671       4,487       8,814       14,561     $ 20,819   Monetization of zinc hedges     (2,356 )     (2,125 )     (1,977 )     (3,753 )     (5,582 )     (10,211 )   $ (4,447 ) Other     (1,230 )     (1,180 )     (1,511 )     (422 )     (624 )     (4,343 )   $ (1,744 ) Adjusted EBITDA   $ 88,859     $ 90,895     $ 71,597     $ 32,907     $ 46,251     $ 284,258     $ 208,799   Total debt                                           $ 539,804     $ 662,815   Less: Cash and cash equivalents                                             22,273       106,374   Net debt                                           $ 517,531     $ 556,441   Net debt/LTM adjusted EBITDA (non-GAAP)                                             1.8       2.7     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 28     Reconciliation of Net Income (Loss) Applicable to Common Stockholders (GAAP) to Adjusted Net Income (Loss) Applicable to Common Shareholders (non-GAAP)   This release refers to a non-GAAP measure of adjusted net income (loss) applicable to common stockholders and adjusted net income (loss) per share, which are indicators of our performance. They exclude certain impacts which are of a nature which we believe are not reflective of our underlying performance. Management believes that adjusted net income (loss) per common share provides investors with the ability to better evaluate our underlying operating performance.     Dollars are in thousands   3Q-2024     2Q-2024     1Q-2024     4Q-2023     3Q-2023     YTD-2024     YTD-2023   Net income (loss) applicable to common stockholders   $ 1,623     $ 27,732     $ (5,891 )   $ (43,073 )   $ (22,553 )   $ 23,464     $ (41,696 ) Adjusted for items below:                                                         Fair value adjustments, net     (3,654 )     (5,002 )     1,852       (8,699 )     6,397       (6,804 )     5,774   Provisional pricing gains     (5,080 )     (10,937 )     (3,533 )     (5,930 )     (8,064 )     (19,550 )     (12,300 ) Environmental accruals     —       —       —       200       763       —       2,752   Write down of property, plant and equipment     14,464       —       —       —       —       14,464       —   Foreign exchange loss (gain)     3,246       (2,673 )     (3,982 )     4,244       (4,176 )     (3,409 )     (434 ) Ramp-up and suspension costs     11,295       4,272       10,926       23,814       21,025       26,493       48,684   (Gain) loss on disposition of assets     (31 )     (1,196 )     69       1,043       (119 )     (1,158 )     (194 ) Inventory adjustments     178       2,225       7,671       4,487       8,814       10,074       16,332   Monetization of zinc hedges     (2,356 )     (2,125 )     (1,977 )     (3,753 )     (5,582 )     (6,458 )     (694 ) Adjusted income (loss) applicable to common stockholders   $ 19,685     $ 12,296     $ 5,135     $ (27,667 )   $ (3,495 )   $ 37,116     $ 18,224   Weighted average shares - basic     621,921       617,106       616,199       610,547       607,896       618,419       604,028   Weighted average shares - diluted     625,739       622,206       616,199       610,547       607,896       621,792       604,028   Basic adjusted net income (loss) per common stock (in cents)     0.03       0.02       0.01       (0.04 )     (0.01 )     0.06       0.03   Diluted adjusted net income (loss) per common stock (in cents)     0.03       0.02       0.01       (0.04 )     (0.01 )     0.06       0.03     Reconciliation of Cash Provided by Operating Activities (GAAP) to Free Cash Flow (non-GAAP)   This release refers to a non-GAAP measure of free cash flow, calculated as cash provided by operating activities, less additions to property, plant and mine development. Management believes that, when presented in conjunction with comparable GAAP measures, free cash flow is useful to investors in evaluating our operating performance. The following table reconciles cash provided by operating activities to free cash flow:   Dollars are in thousands   Three Months Ended     Nine Months Ended       September 30, 2024     June 30, 2024     September 30, 2024     September 30, 2023   Cash provided by operating activities   $ 55,009     $ 78,718     $ 150,807     $ 74,615   Less: Additions to property, plant and mine development   $ (55,699 )   $ (50,420 )   $ (153,708 )   $ (161,265 ) Free cash flow   $ (690 )   $ 28,298     $ (2,901 )   $ (86,650 )   Free cash flow is a non-GAAP measure calculated as cash provided by operating activities less additions to property, plant and mine development. Cash provided by operating activities for our silver operations, the Greens Creek and Lucky Friday operating segments, excludes exploration and pre-development expense, as it is a discretionary expenditure and not a component of the mines’ operating performance.   Dollars are in thousands   Total Silver Operations     Nine Months Ended September 30,     Years Ended December 31,               2024     2023     2022     2021     2020   Cash provided by operating activities   $ 1,082,821     $ 232,090     $ 214,883     $ 188,434     $ 271,309     $ 176,105   Exploration   $ 25,213     $ 6,887     $ 7,815     $ 5,920     $ 4,591     $ -   Less: Additions to property, plant and mine development   $ (364,979 )   $ (68,981 )   $ (108,879 )   $ (87,890 )   $ (53,768 )   $ (45,461 ) Free cash flow   $ 743,055     $ 169,996     $ 113,819     $ 106,464     $ 222,132     $ 130,644     Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 29     Table A Assay Results – Q3 2024   Keno Hill (Yukon) Zone Drillhole Number Drillhole Azm/Dip Sample From (feet) Sample To (feet) True Width (feet) Silver (oz/ton) Gold (oz/ton) Lead (%) Zinc (%) Depth From Surface (feet) Underground Bermingham,  Bear Vein BMUG24-141 148/-20 159.6 164.0 2.2 57.3 0.01 0.3 1.0 1017 Bermingham,  Bear Vein Including 159.6 161.7 1.1 113.5 0.02 0.0 1.6 1017 Bermingham,  Bear Vein BMUG24-143 140/-22 202.3 208.3 3.4 24.3 0.00 0.1 0.0 1037 Bermingham,  Bear Vein Including 204.9 208.3 1.9 42.3 0.00 0.2 0.3 1037 Bermingham,  Footwall Vein BMUG24-134 148/-15 363.3 370.7 5.7 36.9 0.01 8.4 6.1 1076 Bermingham,  Footwall Vein BMUG24-137 127/-11 302.9 321.6 15.5 25.9 0.01 2.4 3.0 1030 Bermingham,  Footwall Vein Including 309.4 319.3 8.2 46.2 0.01 4.4 5.0 1030 Bermingham,  Footwall Vein BMUG24-138 153/-21 420.7 435.1 10.2 63.8 0.01 6.7 6.4 1132 Bermingham,  Footwall Vein Including 420.7 429.8 6.4 99.6 0.01 10.7 9.8 1132 Bermingham,  Footwall Vein BMUG24-141 148/-20 392.6 407.1 10.6 18.0 0.00 0.9 0.1 1119 Bermingham,  Footwall Vein Including 405.8 407.1 0.9 120.2 0.02 2.4 0.4 1119 Bermingham,  Footwall Vein BMUG24-142 140/-18 333.9 363.9 23.0 5.8 0.00 1.6 0.3 1076 Bermingham,  Footwall Vein Including 335.8 337.5 1.3 29.3 0.00 17.3 0.1 1076 Bermingham,  Footwall Vein BMUG24-143 140/-22 421.3 456.9 27.7 15.6 0.01 3.0 0.3 1135 Bermingham,  Footwall Vein Including 447.8 454.9 5.5 52.1 0.01 11.1 0.4 1135 Bermingham,  Footwall Vein BMUG24-144 134/-15 329.7 341.2 8.7 27.3 0.00 5.4 1.1 1066 Bermingham,  Footwall Vein Including 334.6 341.2 5.0 43.5 0.00 9.6 1.2 1066 Bermingham,  Footwall Vein BMUG24-146 125/-21 382.7 399.3 10.8 22.9 0.00 3.9 1.1 1132 Bermingham,  Footwall Vein Including 395.3 396.4 0.7 260.2 0.02 40.0 8.4 1132 Flame & Moth,  Vein 1 FMUG24-051 255/5 252.7 257.9 3.6 10.5 0.00 1.3 3.6 341 Flame & Moth,  Vein 1 FMUG24-052 255/15 297.7 301.7 3.0 28.2 0.02 1.3 2.2 276 Flame & Moth,  Vein 1 FMUG24-054 240/-41 214.2 236.2 17.1 38.1 0.02 4.9 8.4 545 Flame & Moth,  Vein 1 FMUG24-055 254/-57 207.3 225.4 14.8 71.6 0.01 11.6 11.2 577 Flame & Moth,  Vein 1 FMUG24-056 234/-54 244.1 289.2 31.3 38.1 0.01 2.3 10.8 627 Flame & Moth,  Vein 1 FMUG24-057 225/-44 278.3 322.8 26.1 19.1 0.02 1.2 12.6 614 Flame & Moth,  Vein 1 Including 286.5 290.4 2.2 33.5 0.02 2.0 11.3 614 Flame & Moth,  Vein 1 Including 306.9 322.8 9.4 23.2 0.02 0.9 7.7 614 Flame & Moth,  Vein 1 FMUG24-058 261/11 244.8 251.6 5.8 23.3 0.00 2.2 2.7 318 Flame & Moth,  Vein 1 Including 244.8 245.6 0.7 124.2 0.02 8.6 13.0 318 Flame & Moth,  Vein 1 FMUG24-059 300/-65 200.0 220.1 16.1 50.3 0.01 2.1 10.7 600 Flame & Moth,  Vein 1  Including 200.8 218.2 13.9 55.4 0.02 2.1 11.3 600 Flame & Moth,  Vein 1  FMUG24-060 270/-66 213.8 232.3 14.3 37.7 0.02 2.9 12.3 607 Flame & Moth,  Vein 1  Including 215.9 227.9 9.3 51.8 0.02 2.8 15.2 607 Flame & Moth,  Vein 1  FMUG24-061 245/-15 250.3 252.6 1.9 14.1 0.00 0.7 0.9 443 Flame & Moth,  Vein 1  FMUG24-062 230/-35 247.7 276.2 19.8 30.3 0.01 5.5 13.2 548 Surface Bermingham, Ruby Vein K-24-0884 308/-70 884.3 891.3 4.8 0.1 0.06 0.0 0.1 757 Bermingham, Ruby Vein K-24-0885 328/-75 713.9 716.3 1.8 3.8 0.00 0.0 0.0 656 Bermingham, Ruby Vein K-24-0886 322/-64 583.0 583.4 0.3 4.5 0.00 0.9 1.5 502 Bermingham, Ruby Vein K-24-0891 303/-75 759.9 762.1 1.0 0.6 0.00 0.0 0.0 728 Bermingham, Bear  K-24-0884 308/-70 991.1 994.3 1.7 11.9 0.00 0.5 0.4 845 Bermingham Deep, Aho Vein K-24-0888 308/-58 1808.3 1820.9 7.4 0.0 0.00 0.0 0.0 1478 Bermingham Deep, Main Vein K-24-0899 324/-69 1937.2 1965.9 25.6 1.5 0.00 0.3 0.7 1720 Bermingham Deep, Footwall Vein K-24-0899 324/-69 2248.0 2262.0 9.2 2.1 0.00 0.4 0.0 1991 Bermingham, Townsite Vein  K-24-0886 322/-64 614.1 617.5 2.7 28.4 0.01 0.7 0.3 528 Bermingham, Townsite Vein  Including 614.1 615.0 0.6 112.6 0.04 2.6 0.0 528 Bermingham, Townsite Vein  K-24-0889 303/-75 728.3 730.1 1.2 0.1 0.01 0.0 0.0 686 Bermingham, Townsite Vein 1 K-24-0880 288/-71 1291.1 1291.7 0.5 1.7 0.02 0.0 0.0 1133 Bermingham, Townsite Vein 1 K-24-0881 284/-51 928.4 929.4 0.7 6.3 0.00 0.2 0.2 664 Bermingham, Townsite Vein 2 K-24-0880 288/-71 1368.1 1377.3 7.1 0.0 0.00 0.0 0.0 1201 Bermingham, Townsite Vein 2 K-24-0877 306/-72 1195.9 1200.2 3.9 26.4 0.02 2.3 0.3 1003 Elsa 17, Unknown Structure K-24-0894 354/-53 480.2 482.3 2.1 48.0 0.00 0.0 0.0 336 Elsa 17, Dixie Vein K-24-0894 354/-53 751.2 756.0 4.0 0.2 0.00 0.0 0.0 508 Elsa 17, Dixie Vein K-24-0895 0/-74 893.8 896.4 1.7 6.1 0.00 0.2 0.2 801 Elsa 17, Dixie Vein K-24-0896 1/-74 677.0 678.0 0.8 0.2 0.00 0.0 0.0 395 Elsa 17, Dixie Vein K-24-0898 257/-47 741.9 743.3 0.8 0.4 0.00 0.0 0.0 649   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 30     Greens Creek (Alaska) Zone Drillhole Number Drillhole Azm/Dip Sample From (feet) Sample To (feet) True Width (feet) Silver (oz/ton) Gold (oz/ton) Zinc  (%) Lead  (%) Depth From Surface (feet) Underground NWW GC6391 63/-78 293.0 295.9 2.9 6.7 0.08 12.6 2.9 -578 NWW GC6391 63/-78 308.9 310.5 1.6 20.0 0.03 16.3 4.0 -578 200 South GC6401 262/-82 0.0 4.5 4.4 8.7 0.01 7.3 3.8 -1359 200 South GC6401 262/-82 36.6 40.8 4.1 6.9 0.04 7.0 3.5 -1389 200 South GC6401 262/-82 50.5 53.7 3.2 16.7 0.03 9.2 3.6 -1409 200 South GC6401 262/-82 110.6 123.9 13.1 8.3 0.03 2.8 1.7 -1499 200 South GC6441 63/55 100.9 105.5 4.1 4.7 0.03 14.8 7.8 -1169 200 South GC6441 63/55 110.2 111.2 0.9 6.0 0.01 8.7 10.5 -1169 200 South GC6442 243/87 5.3 11.1 5.0 5.5 0.01 9.7 4.5 -1209 200 South GC6442 243/87 36.0 56.0 17.4 7.2 0.00 6.9 3.4 -1238 200 South GC6444 243/-47 365.0 418.0 23.6 20.6 0.02 0.7 0.3 -1522 200 South GC6448 243/-8 74.5 76.5 1.6 21.8 0.02 11.1 5.9 -1297 200 South GC6449 254/-12 69.5 77.2 7.3 10.5 0.02 5.3 3.1 -1300 200 South GC6451 256/-46 311.0 356.7 28.1 22.0 0.02 2.0 1.1 -1507 200 South GC6452 232/-68 772.0 782.0 9.4 50.5 0.09 1.1 0.5 -2849 200 South GC6452 232/-68 807.7 809.5 1.7 22.7 0.29 0.3 0.1 -2059 200 South GC6452 232/-68 814.0 818.4 4.1 10.8 0.13 0.4 0.2 -2069 200 South GC6453 232/-65 22.7 37.0 14.1 7.2 0.29 26.2 7.3 -749 200 South GC6453 232/-65 60.7 62.8 2.1 4.6 0.06 32.7 2.3 -784 200 South GC6453 232/-65 94.0 105.6 11.4 1.1 0.01 20.6 3.4 -859 200 South GC6453 232/-65 650.7 677.6 20.6 10.1 0.10 9.4 3.6 -1269 200 South GC6454 243/-32 348.0 395.0 33.8 74.0 0.03 4.7 2.2 -1551 200 South GC6457 243/-54 421.1 422.3 0.4 21.1 0.01 1.4 0.7 -1624 200 South GC6461 128/-81 383.3 384.9 1.5 14.0 0.02 7.5 3.6 -1069 200 South GC6461 128/-81 443.0 453.0 8.7 16.2 0.11 5.8 3.1 -1059 200 South GC6465 223/-67 772.0 787.0 10.6 22.4 0.05 0.6 0.3 -2016 200 South GC6467 267/-78 695.0 696.0 0.6 21.8 0.02 9.8 6.4 -1977 200 South GC6467 267/-78 711.5 719.0 4.8 29.0 0.02 7.2 4.7 -1992 200 South GC6471 237/-85 862.9 865.9 2.9 2.3 0.00 12.6 5.7 -2159 200 South GC6473 237/-73 615.0 616.4 1.4 1.8 0.01 13.8 8.9 -1881 9A GC6455 71/-52 21.5 27.5 5.7 9.4 0.01 18.0 8.9 32 9A GC6455 71/-52 46.0 47.0 1.0 5.4 0.02 10.6 5.4 32 9A GC6458 75/-33 13.0 27.4 14.2 8.1 0.13 6.4 2.8 18 9A GC6466 34/-39 124.7 129.4 4.6 5.2 0.02 13.2 5.9 -70 9A GC6468 63/-31 121.5 122.7 1.2 12.4 0.09 19.8 5.5 -52 9A GC6469 63/-66 164.0 176.9 12.7 6.3 0.10 12.8 4.3 -139 9A GC6469 63/-66 185.5 187.0 1.5 5.9 0.29 0.9 0.4 -159 9A GC6470 105/-72 198.5 228.6 30.1 7.4 0.13 10.3 3.8 -189 SWB GC6407 255/14 165.3 168.0 2.0 23.2 0.03 13.1 6.9 50 SWB GC6407 255/14 199.8 203.0 2.4 9.3 0.11 7.3 3.9 50 SWB GC6407 255/14 218.8 223.7 3.6 5.5 0.02 11.7 4.7 50 SWB GC6407 255/14 233.3 235.2 1.4 26.5 0.12 6.5 3.3 50 SWB GC6407 255/14 335.3 338.0 2.5 5.9 0.02 13.1 6.2 76 SWB GC6410 125/-58 123.0 126.0 2.5 11.4 0.03 4.7 2.0 -122 SWB GC6412 68/-86 63.0 73.0 10.0 19.2 0.03 9.4 5.4 -79 SWB GC6413 244/18 201.0 203.2 2.2 14.9 0.03 6.2 3.6 51 SWB GC6416 140/-61 88.0 90.2 2.2 40.9 0.06 21.5 17.1 -101 SWB GC6440 308/-75 325.0 344.7 19.0 51.4 0.52 9.3 4.9 -1001 SWB GC6440 308/-75 383.7 390.0 6.1 20.0 0.18 2.0 3.5 -1060 SWB GC6445 292/-69 457.5 462.7 4.5 11.3 0.17 9.6 4.1 -1108 SWB GC6450 282/-72 339.5 347.0 6.3 45.6 0.72 10.5 5.1 -1009 SWB GC6450 282/-72 458.0 465.3 5.2 16.1 0.03 12.1 6.5 -1118 SWB GC6450 282/-72 501.3 508.8 5.3 13.4 0.24 8.8 4.1 -1166 Gallagher GC6478 268/-81 19.5 29.7 9.9 6.8 0.08 2.2 1.0 -756 Gallagher GC6478 268/-81 70.3 73.0 2.7 51.4 0.32 9.3 3.7 -805 West GC6385 92/-8 266.0 292.0 25.6 12.0 0.14 6.9 2.8 -419 West GC6472 66/-13 17.0 22.2 5.2 15.5 0.46 35.7 9.9 -494 West GC6472 66/-13 61.8 72.7 10.7 5.6 0.16 13.1 2.3 -499 West GC6472 66/-13 335.0 338.5 3.4 5.2 0.05 20.2 4.8 -569 West GC6472 66/-13 347.0 349.6 2.6 15.5 0.04 14.9 4.9 -569   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 31       West GC6476 88/48 1.0 4.2 2.9 2.1 0.29 14.2 2.0 -475 West GC6476 88/48 14.0 18.2 3.9 18.7 0.23 2.4 0.8 -463 West GC6476 88/48 39.0 51.3 11.3 30.0 0.45 20.0 7.5 -442 West GC6490 64/-14 624.2 631.0 4.1 49.7 0.77 9.2 4.8 -115 West GC6492 64/-18 609.0 613.3 4.2 18.3 0.62 1.4 0.4 -157 West GC6499 59/-12 513.0 515.0 2.0 3.1 0.11 12.5 6.1 -69 West GC6499 59.4/-12 670.0 678.0 8.0 16.1 0.19 5.9 2.8 -69 SURFACE Upper Plate PS0480 230/-62 299.6 304.4 3.7 6.2 0.01 10.4 4.5 376 Upper Plate PS0480 230/-62 313.5 320.1 6.1 12.3 0.02 4.4 2.0 376 Upper Plate PS0481 211/-77 265.3 272.8 5.9 8.0 0.03 6.4 2.8 374 Upper Plate PS0484 83/48 406.4 409.2 2.1 15.6 0.02 3.4 1.4 304 Upper Plate PS0484 83/48 421.7 438.7 11.6 22.2 0.02 1.4 0.7 288   Investor Relations, Hecla Mining Company • 1-800-432-5291• hmc-info@hecla.com 32