Hecla Reports Record 2011 Revenue & Gross Profits

Hecla Mining Company (“Hecla”)( NYSE:HL) today announced record 2011 revenue of $477.6 million and gross profit of $265.0 million with net income applicable to common shareholders of $150.6 million, or $0.54 per basic share, and adjusted net income applicable to common shareholders of $130.9 million ¹, or $0.47 per basic share, for the year. Full year silver production was 9.5 million ounces at a total cash cost of $1.15 per ounce, net of by-products. ²

FULL YEAR 2011 HIGHLIGHTS

• Achieved 9.5 million ounces of silver production in line with guidance at a total cash cost of $1.15 per ounce, net of by-products
• Silver reserves and resources increased by 4% and 13%, respectively, to 148 million ounces and 281 million ounces
• Finalized the long-standing Coeur d'Alene Basin environmental settlement paying $168 million in the fourth quarter
• Achieved operating cash flow of $69.9 million after the environmental settlement payment of $168 million
• Cash and cash equivalents of $266.5 million at December 31, 2011, and no debt

FOURTH QUARTER 2011 HIGHLIGHTS

• Net income applicable to common shareholders of $18.4 million, or $0.07 per basic share, and adjusted net income applicable to common shareholders of $18.8 million, or $0.07 per basic share ¹
• Silver production of 2.5 million ounces at a total cash cost of $2.28 per ounce, net of by-products ²
• Acquisition of remaining 30% interest in San Juan Silver property in Creede, Colorado, in exchange for 5.4 million shares of Hecla valued at $33.8 million
• Declared quarterly common stock dividend of $0.0125 per share of common stock which includes the new quarterly minimum dividend payment of $0.0025 and $0.01 of the dividend payment is based on an average realized silver price of $31.61 per ounce pursuant to Hecla's silver price-linked dividend policy

"Hecla faced significant challenges in 2011; however, what is different today than at any other time in our history is that our financial position, asset base, and growth opportunities are the strongest they have ever been," said Hecla's President and Chief Executive Officer, Phillips S. Baker, Jr. "In 2011, we had many significant accomplishments: we achieved record revenues and profits; settled the long-standing Coeur d'Alene Basin litigation thereby removing a significant and unquantifiable liability; achieved our silver production guidance; executed a $102 million capital expenditure program; expanded growth opportunities with significant advancement in our three pre-development programs; increased silver reserves and resources for the sixth consecutive year in a row; introduced a new common stock dividend; and we acquired the minority interest in the San Juan Silver property. In addition, we finished the year with $266.5 million of cash and no debt. We did all of these things while dealing with a series of unprecedented and unfortunate, yet unrelated, events at our Lucky Friday mine."

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