Coeur Achieves Record Production, Sales And Operating Cash Flow In 2011

In Fourth Quarter Highlights and sixth graph, adjusted earnings for the fourth quarter of 2011 and 2010 should be $0.48 per share sted $0.50 per share.

The corrected release reads:

COEUR ACHIEVES RECORD PRODUCTION, SALES AND OPERATING CASH FLOW IN 2011

Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM) realized all-time record full-year production, metal sales and operating cash flow ¹ in 2011.

2011 Highlights:

• Net metal sales nearly doubled compared to 2010 to a record $1.0 billion.
• Operating cash flow ¹ increased 147% compared to 2010 to a record $454.4 million.
• Adjusted earnings ¹ reached a record $232.5 million, or $2.60 per share, nearly a five-fold increase compared to 2010 adjusted earnings of $41.5 million, or $0.48 per share.
• Net income totaled a record $93.5 million, or $1.05 per share, compared to a net loss of ($91.3) million, or ($1.05) per share in 2010.
• Average realized silver and gold prices were $35.15 per ounce and $1,588 per ounce, 67% and 26% respectively, higher than 2010.
• Record silver production topped 19.1 million ounces, a 14% increase over 2010, at cash operating costs of $6.31 per ounce ¹, a 3% decrease from 2010.
• Record gold production reached 220,382 ounces in 2011, a 40% increase over 2010. Kensington's cash operating costs were $1,088 per gold ounce, a 10% increase from 2010.
• Proven and probable silver reserves totaled 216.3 million ounces at year-end, while proven and probable gold reserves totaled 2.3 million ounces.
• Working capital was $212.8 million at year-end compared to negative working capital at year-end 2010.
• Cash and equivalents increased to $175.0 million at December 31, 2011, up 165% from year-end 2010.

Fourth Quarter Highlights:

• Silver production of 5.3 million ounces.
• Cash operating costs ¹ of $6.19 per silver ounce.
• Gold production of 49,544 ounces.
• Metal sales totaled $246.9 million.
• Adjusted earnings ¹ were $43.2 million, or $0.48 per share.
• Operating cash flow ¹ totaled $97.5 million.

2012 Outlook:

• Estimated silver production of 18.5 million - 20.0 million ounces and gold production of 210,000 - 230,000 ounces.
• Estimated cash operating costs ¹ of $6.50 to $7.50 per ounce of silver (assuming $1,500 per ounce gold for the by-product credit).
• Estimated $40.0 million exploration program, a 53% increase compared to 2011 levels, targeting resource-to-reserve conversions, and reserve and resource expansions by year-end 2012.

Mitchell J. Krebs, Coeur's President and Chief Executive Officer, said, “Our successful year was driven by record production levels at our two largest operations, Palmarejo and San Bartolomé, supported by higher silver and gold prices.”

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