Following a $27 million expansion in 2011 to further extend Rochester’s mine life, the operation is expected to produce 2.6-2.9 million silver ounces and 30,000-35,000 gold ounces in 2012. Rochester has been in operation for over 26 years and currently employs approximately 225 people. As of December 31, 2011, Rochester contained proven and probable reserves of 29.6 million ounces of silver and 247,000 ounces of gold within 47.3 million tons at average grades of 0.59 ounce of silver per ton and 0.005 ounce of gold per ton. Based on a detailed review, the Company is confident that none of these reserves are located on the disputed claims.
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding expected production levels. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the control of Coeur, and are based on information that Coeur believes is reasonable, but involve significant uncertainties affecting the business of Coeur, including, but not limited to, future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction delays and related disruptions in production, disputed mineral claims, risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather and geologically related conditions), permitting and regulatory matters (including penalties, fines, sanctions, and shutdowns), as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Coeur's reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.