ABOUT HECLA
Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States. Hecla operates mines in Alaska, Idaho,
Quebec, Canada, and Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.
Cautionary Statements Regarding Estimates and Forward-Looking Statements
All measures of the Company’s fourth quarter and full year 2023 operating results contained in this release are preliminary and reflect the Company’s
expected results as of the date of this release. Actual reported fourth quarter and full year 2023 results are subject to management’s final review as well as review by the Company’s independent registered accounting firm and may vary
significantly from current expectations because of a number of factors, including, without limitation, additional or revised information and changes in accounting standards or policies or in how those standards are applied.
Statements made or information provided in this news release that are not historical facts are “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, and
“forward-looking information” within the meaning of Canadian securities laws. When a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good
faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by the
forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition and often contain words such as “anticipate,” “intend,” “plan,”
“will,” “could,” “would,” “estimate,” “should,” “expect,” “believe,” “project,” “target,” “indicative,” “preliminary,”
“potential” and similar expressions. Forward-looking statements in this news release may include, without limitation: (i) Casa Berardi will transition to a complete surface operation by the end of this year; (ii) the Company will
produce up to 20 million ounces of silver by 2025; (iii) the Company will soon be the dominant producer of silver in Canada; (iv) Lucky Friday is expected to ramp up to full production in the first quarter of the year; (v) insurance
proceeds for Lucky Friday will commence in the first quarter of 2024 and (vi) the Company expects safety at Keno Hill to improve through a safety action plan. 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) certain price assumptions for gold, silver, lead and zinc; (v) prices for key supplies being approximately consistent with
current levels; (vi) the accuracy of our current mineral reserve and mineral resource estimates; (vii) 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; (viii) sufficient workforce is available and trained to perform assigned tasks; (ix) weather patterns and rain/snowfall within normal seasonal ranges so as not to impact operations;
(x) relations with interested parties, including Native Americans, remain productive; and (xi) factors do not arise that reduce available cash balances.
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