Coeur Mining, Inc. provided an update on the exploration programs at its Palmarejo gold-silver complex located in southwest Chihuahua, Mexico. Drill results from the Hidalgo deposit ? discovered in 2019 and representing the northwest extension of the Independencia deposit ?

have contained the highest gold grades ever encountered at Palmarejo and have defined two new mineralized structures. Hidalgo has rapidly grown to become Palmarejo?s second largest source of mineral reserves after the Guadalupe deposit, where mining has taken place since 2014. In addition, mapping and sampling of East Palmarejo has defined numerous mineralized trends and high-priority targets set to be drilled beginning in 2024.

Geological observations and sampling results to date indicate high potential for new discoveries in this prospective area. At year-end 2022, Palmarejo?s proven and probable reserves totalled 18.2 million tons with average gold and silver grades of 0.052 ounces per ton and 3.61 ounces per ton, respectively, equalling 0.95 million ounces of gold and 65.7 million ounces of silver. Over the past five years, the Company?s strong commitment to exploration at Palmarejo has led to an increase in gold and silver proven and probable reserves by approximately 35% and 40%, respectively.

On a measured and indicated basis, resources grew by approximately 815,000 ounces of gold and 47.7 million ounces of silver, corresponding to a 219% increase in gold and 176% increase in silver during that same time period. Palmarejo is Coeur?s largest producing mine with a landholding encompassing over 270 square kilometers (105 square miles or approximately 67,200 acres), of which approximately only 7% has been drilled to date. Over the last fifteen months, the main focus of drilling has been the Hidalgo deposit, which is situated northwest of the Independencia deposit and adjacent to existing mine infrastructure.

Drill assay intervals continue to produce some the best grade-thicknesses at Palmarejo ever as demonstrated by hole HGDH-137 with 19 feet (5.8 meters) at an average gold grade of 1.20 oz/t ton (41.1 g/t) of gold including the highest gold assay encountered to date at Palmarejo of 14.44 oz/t (495 g/t) of gold sampled over a true thickness of 1.43 feet (0.44 meters). Due to the ongoing success of this drilling, the Company is evaluating opportunities to include the zone in earlier mine plans than previously anticipated. The North Guadalupe ?

Zapata area has had no drilling to date and like Hidalgo, is adjacent to existing mine infrastructure and offers an opportunity to add new, low risk ounces. The North Guadalupe ? Zapata target is located at the western extension of the Guadalupe underground mine workings along the projected extensions and anticipated intersection of the Guadalupe and Zapata veins, forming west-plunging ?clavos?

similar to those that typify the high-grade portions of the Guadalupe deposit currently being mined immediately to the east. Expansion drilling currently underway along the Las Animas vein, located at the southern end of the Guadalupe deposit, is targeting additional mineralization below the current production level between elevations of 1,050 and 950 meters. Approximately 28,200 feet (8,600 meters) of drilling is planned from three drill platforms during the second half of 2023.

Drilling during the remainder of 2023 will focus on expansion drilling in the Hidalgo area, including the San Juan and Libertad discoveries made earlier this year, the new target at Guadalupe North ? Zapata, and deep drilling at Las Animas. A total of 111,500 feet (34,000 meters) of drilling is planned.