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 Hecla Reports Fourth Quarter and Full Year 2017 Results
   Thursday, February 15, 2018 3:00:01 AM ET

Hecla Mining Company (HL ) today announced fourth quarter and year end 2017 financial and operating results.

2017 HIGHLIGHTS

-- Revenues of $577.8 million, the second highest in Company history after the record set in 2016.

-- Net loss applicable to common stockholders of $24.1 million ($0.06 per share).

-- Tax provision of $19.9 million due in part to changes in U.S. tax law.

-- Adjusted net income applicable to common stockholders of $38.8 million, $0.10 per share.(1)

-- Cash flows from operations of $115.9 million.

-- Cost of sales and other direct production costs and depreciation, depletion and amortization ("cost of sales") of $420.8 million.



-- Total cash cost, after by-product credits, per silver ounce of ($0.01), the lowest in 7 years.(2)

-- All in sustaining cost ("AISC"), after by-product credits, per silver ounce of $7.86, down 33%.(3)

-- Silver production of 12.5 million ounces, the second highest in Company history.

-- Gold production of 232,684 ounces, the third highest in Company history.

-- Silver equivalent production of 40.9 million ounces or gold equivalent of 554,843 ounces.(8)

-- Record silver, gold and lead reserves and highest zinc reserves in five years.

-- Gold production at Casa Berardi of 156,653 ounces, the highest since its acquisition.

-- Cash, cash equivalents and short-term investments of approximately $220 million at year end, an increase of about $21 million.

-- 19% reduction in the All Injury Frequency Rate across the four mines.

"Our focus of improving our long-lived operations led to increased throughput and lower costs which, coupled with significantly higher base metals prices, drove our increasing cash balance and continued strong adjusted," said Phillips S. Baker, Jr., President and CEO. "2018 should have further value creation at all our mines as we advance low-cost, high-return technologies that are focused on improving productivity. We are also taking a bulk sample of San Sebastian’s polymetallic zone which could further extend its mine life. Exploration spending is increasing as we see further opportunities for both discoveries and resource growth."

_______________
(1,2,3)   Non-GAAP measures. See page 11 for more information.
                              

SILVER AND GOLD RESERVE SUMMARY

Proven and probable silver reserves are at 177 million ounces, an increase of 3% over December 31, 2016 levels. Proven and probable gold reserves are at 2.3 million ounces, an increase of 12% over December 31, 2016 levels. Proven and probable zinc and lead reserves of 841,000 tons and 737,000 tons are increases of 15% and 8%, respectively, over December 31, 2016 levels. The reserves for silver, gold and lead as of December 31, 2017 are the highest in our history. The price assumptions used for 2017 reserves of $14.50 for silver, $1,200 for gold, $1.05 for zinc and $0.90 from lead are unchanged from last year’s assumptions, and the silver price assumption is among the lowest in the industry.

Please refer to the reserves and resources tables at the end of this press release, or to the press release entitled "Hecla Reports Record Reserves For Silver, Gold and Lead" issued on February 7, 2018 for the breakdown between proven and probable reserve and resource levels.

FINANCIAL OVERVIEW

                                                                                Fourth Quarter Ended                                                      Twelve Months Ended
                                                                                                ----------------------------------------------------------------                                          --------------------------------------------------------------------------
HIGHLIGHTS                                                    December 31,            December 31,                                                   December 31,                 December 31,
                                                                                                        2017                                       2016                                                           2017                                            2016
----------------------------------------------------- -------------------- -------------------- ------------------   -------------------- --------------------                                            ------------------   -------------------- ------------------------------
FINANCIAL DATA                                                                                                  
----------------------------------------------------- -------------------- -------------------- ----------------------------------------- ----------------------                                          ----------------------------------------- --------------------------------
Sales (000)                                                                                          $ 160,113                  $    164,245                                                $ 577,775                  $              645,957
Gross profit (000)                                                                                   $  47,226                                     $     43,548                                                $ 156,986                                     $              191,506
Income (loss) applicable to common stockholders (000)                                                $ (27,887 )                                   $     20,124                                                $ (24,071 )                                   $               68,995
Basic and diluted income (loss) per common share                                                     $   (0.07 )                                   $       0.05                                                $   (0.06 )                                   $                 0.18
Net income (loss) (000)                                                                              $ (27,749 )                                   $     20,262                                                $ (23,519 )                                   $               69,547
Cash provided by operating activities (000)                                                          $  41,763                                     $     52,214                                                $ 115,878                                     $              225,328
                                                                                                                                                                                                                                                                

Net loss applicable to common stockholders for the fourth quarter and full year of 2017 was $27.9 million and $24.1 million, or $0.07 and $0.06 per basic share, respectively, compared to net income applicable to common stockholders of $20.1 million and $69.0 million, or $0.05 and $0.18 per basic share, respectively, for the fourth quarter and full year of 2016. Among items impacting the results for the 2017 periods compared to 2016 were the following:

-- Sales for the fourth quarter and full year were 3% and 11% lower, respectively, than the same periods in 2016, mainly due to lower silver, zinc and lead production due to the ongoing strike at Lucky Friday, partly offset by higher realized silver, gold, zinc and lead prices in 2017.

-- Losses on base metal derivative contracts of $4.7 million and $21.3 million were recorded in the fourth quarter and full year 2017, respectively, as compared to a gain of $4.4 million in the same periods of 2016, the result of higher zinc and lead prices.

-- A foreign exchange gain of $0.6 million was recognized in the fourth quarter of 2017, compared to a $4.8 million foreign exchange gain in the prior year fourth quarter. Annual foreign exchange losses of $10.3 million and $2.9 million were recognized in 2017 and 2016, respectively. The variances were primarily due to the strengthening of the Canadian dollar relative to the U.S. dollar.

-- Interest expense, net of amount capitalized, was $9.6 million in the fourth quarter compared to $5.1 million in the same period of 2016, and $38.0 million for the full year of 2017 compared to $21.8 million in 2016. The increase is due to interest capitalized in 2016 related to the #4 Shaft project, which was completed in January 2017.

-- Exploration and pre-development expense was $7.3 million for the fourth quarter and $29.0 million for the full year of 2017 compared to $6.2 million for the fourth quarter and $17.9 million for the full year of 2016 primarily due to increased exploration activity at Greens Creek, San Sebastian, Casa Berardi, the Kinskuch project in British Columbia, and the Little Baldy project in northern Idaho, and the addition of the Montanore pre-development project.

-- Research and development expense was $1.2 million for the fourth quarter and $3.3 million for the full year of 2017, compared to $0.1 million for the fourth quarter and $0.2 million for the full year of 2016, and is related to the evaluation and development of new technologies, such as the Remote Vein Miner project at Lucky Friday.

-- Lucky Friday had suspension costs of $5.6 million and $17.1 million, along with $1.3 million and $4.2 million in non-cash depreciation expense, for the fourth quarter and full year of 2017, respectively.

-- Income tax provisions for the fourth quarters 2017 and 2016, were $38.3 million and $4.8 million, respectively. Income tax provisions for the full year 2017 and 2016 were $19.9 million and $27.4 million, respectively. The tax provisions resulted primarily from the changes in the U.S. Tax Cuts and Jobs Act and the resulting revaluation of the deferred tax asset, as well as current income and mining taxes in Mexico.

"The fourth quarter and full year tax provisions were impacted by the recently enacted U.S. tax reform measures. While we were required to record a non-cash charge for the year, we see significant benefits to us in the future as a result of the elimination of the Alternative Minimum Tax, the lower regular income tax rate and our ability to repatriate earnings from our mining operations outside the U.S.," said Mr. Baker.

Cash provided by operating activities of $41.8 million for the fourth quarter 2017 was $10.5 million lower as compared to the fourth quarter of 2016. For the full year of 2017, $115.9 million in cash was provided by operating activities as compared to $225.3 million in 2016. The decreases were the result of lower production, payment of estimated income taxes in Mexico, suspension costs at Lucky Friday, and higher exploration, pre-development, and research and development spending. The full year variance was also the result of $16 million in proceeds in 2016 for settlement of a reclamation insurance policy for the Troy mine.

A net loss was recorded of $27.7 million for the fourth quarter and $23.5 million for the full year of 2017, compared to net income of $20.3 million for the fourth quarter and $69.5 million for the full year of 2016. Adjusted EBITDA was $72.0 million for the fourth quarter of 2017 compared to $65.9 million for the same period of 2016, and $235.0 million for the full year of 2017 compared to $265.1 million in 2016.(4) The increase for the quarter was due to higher base metal prices, partially offset by lower metals production. The decrease for the year was due to lower metals production.

Capital expenditures at the operations totaled $27.8 million for the fourth quarter of 2017, of which expenditures were $12.4 million at Casa Berardi, $10.4 million at Greens Creek, $3.8 million at San Sebastian, and $1.3 million at Lucky Friday. Capital expenditures during 2017 totaled $103.4 million at the operations.

Metals Prices

Average realized silver prices in the fourth quarter and full year 2017 were $16.87 and $17.23 per ounce, respectively, both slightly higher than the same periods in 2016. Realized prices for gold for the fourth quarter and full year 2017 were $1,278 and $1,261 per ounce, respectively, 6% and 1% higher than the prior periods. The average realized price for lead for the fourth quarter of 2017 was 18% higher, and zinc was 27% higher, compared to the same period of 2016. The average realized price for lead for the full year of 2017 was 25% higher than the prior year, and zinc was 39% higher, as compared to 2016.

_______________
  (4)   Non-GAAP measures. See page 12 for more information.
                            

OPERATIONS OVERVIEW

Overview

The following table provides the production summary on a consolidated basis for the fourth quarter and twelve months ended December 31, 2017 and 2016:

                                                                 Fourth Quarter Ended                                            Twelve Months Ended
                                                                                                         -------------------------------------------------------                                          ---------------------------------------------------------------
          December 31,       December 31,                                                   December 31,           December 31,
                                                                                                             2017                                  2016                                                           2017                                      2016
-------------------- -------------------- -------------------- -------------------- -------------------- -----------  -------------------- -------------------                                            -------------------  -------------------- --------------------
PRODUCTION SUMMARY                                                                                                                                                       
------------------------------------------------------------------------------------------------------------------------------------------ ---------------------                                          ----------------------------------------- --------------------
Silver -                                  Ounces produced                                                2,984,786       3,976,552                                                     12,484,844                       17,177,317
                                          Payable ounces sold                                            3,210,306                          3,775,003                                                     11,308,958                                          15,997,087
Gold -                                    Ounces produced                                                   60,964                             63,150                                                        232,684                                             233,929
                                          Payable ounces sold                                               58,008                             60,888                                                        219,929                                             222,105
Lead -                                    Tons produced                                                      4,307                             10,632                                                         22,733                                              42,472
                                          Payable tons sold                                                  4,348                              9,139                                                         17,960                                              37,519
Zinc -                                    Tons produced                                                     12,107                             18,195                                                         55,107                                              68,516
                                          Payable tons sold                                                 10,066                             11,854                                                         39,335                                              49,802
                                                                                                                                                                                                                                                     

The following table provides a summary of the final production, cost of sales, cash cost, after by-product credits, per silver or gold ounce, and AISC, after by-product credits, per silver and gold ounce, for the fourth quarter and twelve months ended December 31, 2017:

                                                                                                                                                                                                                                                                  
------------------------------------------------------------------- -------------------- ----------------------------------------------------------- -------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------
Fourth Quarter Ended                                                                                                                                                                        Greens Creek                                                      Lucky Friday                                                    Casa Berardi                                                                                   San Sebastian
                                                                                                                                                                                                              --------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------
December 31, 2017                                                                     Silver                                   Gold                                  Silver                                Gold                               Silver                                 Gold                               Silver                                 Silver                                   Gold
------------------------------------------------------------------- -------------------- ----------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------------- ---------------------------------------------------- -------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------- --------------------------------------------------------------- --------------------------------
Production (ounces)                                                                                            2,984,786                                                   60,964                                                  2,146,223              11,565                                              69,578                                43,444               9,885                                                    759,100               5,955
Increase/(decrease) over 2016                                                  (25 )%              (3 )%                (4 )%              (20 )%                           (92 )%              (3 )%                3 %                                   (12 )%              (15 )%
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
Cost of sales and other direct production costs and depreciation,                                           $     67,449                                                $  45,438                                                $    61,561                                    N/A                                                              $     565                                                $  45,438                                    N/A                                                              $          5,323                                    N/A
depletion and amortization (000)
Increase/(decrease) over 2016                                                   (6 )%              (7 )%                39 %               N/A           (97 )%              (7 )%              N/A                  (32 )%              N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
Cash costs, after by-product credits, per silver or gold ounce(2,5)                                         $      (0.56 )                                              $     719                                                $      0.66                                    N/A                                                              $   (2.65 )                                              $     719                                    N/A                                                              $          (3.80 )                                  N/A
Increase/(decrease) over 2016                                                 (133 )%             (10 )%               (45 )%              N/A          (135 )%             (10 )%              N/A                  (22 )%              N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
AISC, after by-product credits(3)                                                                           $       7.23                                                $   1,039                                                $      6.23                                    N/A                                                              $   15.57                                                $   1,039                                    N/A                                                              $          (0.64 )                                  N/A
Increase/(decrease) over 2016                                                  (36 )%             (17 )%               (11 )%              N/A           (16 )%             (17 )%              N/A                  (34 )%              N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
                                                                                                                                                                                                                
------------------------------------------------------------------- -------------------- ----------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------------- ---------------------------------------------------- -------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------- --------------------------------------------------------------- --------------------------------
Year Ended                                                                                                                                                                                                                                           Greens Creek                                                      Lucky Friday                                                    Casa Berardi                                                                                   San Sebastian
                                                                                                                                                                                                              --------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------
December 31, 2017                                                                     Silver                                   Gold                                  Silver                                Gold                               Silver                                 Gold                               Silver                                 Silver                                   Gold
------------------------------------------------------------------- -------------------- ----------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------------- ---------------------------------------------------- -------------------------------------------------------- -------------------------------------------------------- ---------------------------------------------------- --------------------------------------------------------------- --------------------------------
Production (ounces)                                                                                           12,484,844                                                  232,684                                                  8,351,882                                 50,854                                                                838,658                                                  156,653                                 36,566                                                                     3,257,738                                 25,177
Increase/(decrease) over 2016                                                  (27 )%              (1 )%               (10 )%               (6 )%                           (77 )%               7 %                 9 %                                   (24 )%              (26 )%
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
Cost of sales and other direct production costs and depreciation,                                           $    240,610                                                $ 180,179                                                $   201,803                                    N/A                                                              $  15,107                                                $ 180,179                                    N/A                                                              $         23,700                                    N/A
depletion and amortization (000)
Increase/(decrease) over 2016                                                  (19 )%              16 %                  5 %               N/A           (80 )%              16 %               N/A                  (24 )%              N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
Cash costs, after by-product credits, per silver or gold ounce(2,5)                                         $      (0.01 )                                              $     820                                                $      0.71                                    N/A                                                              $    5.81                                                $     820                                    N/A                                                              $          (3.36 )                                  N/A
Increase/(decrease) over 2016                                                 (100 )%               7 %                (82 )%              N/A           (35 )%               7 %               N/A       -- %               N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
AISC, after by-product credits(3)                                                                           $       7.86                                                $   1,174                                                $      5.76                                    N/A                                                              $   12.48                                                $   1,174                                    N/A                                                              $          (0.26 )                                  N/A
Increase/(decrease) over 2016                                                  (33 )%              (6 )%               (39 )%              N/A           (40 )%              (6 )%              N/A                  (87 )%              N/A  
------------------------------------------------------------------- -------------------- -------------------- ---------- ------ -------------------- -------------------- ------- ------ -------------------- -------------------- --------- ------ -------------------- ---------- -------------------- -------------------- -------------------- ------- ------ -------------------- -------------------- ------- ------ -------------------- ---------- -------------------- -------------------- -------------------- -------------- ------ -------------------- ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Greens Creek Mine - Alaska

For the fourth quarter, silver production was 2,146,223 ounces and gold production was 11,565 ounces, a decrease of 3.9% and 19.8%, respectively, as compared to the prior year periods. Full year 2017 silver production was 8,351,882 ounces, a decrease of 9.7% compared to the record silver production of 2016, and 2017 gold production was 50,854 ounces, a decrease of 5.7%. The decrease in silver production resulted from lower grades, and gold production was lower due to lower recoveries and slightly lower ore grades. The mill operated at an average of 2,301 tons per day (tpd) in the fourth quarter and 2,300 tpd for the full year. The annual throughput was a record.

The cost of sales for the fourth quarter and full year 2017 was $61.6 million and $201.8 million, respectively. The cash cost, after by-product credits, per silver ounce, for the quarter and full year was $0.66 and $0.71, respectively, a decrease from $1.19 and $3.84 for the fourth quarter and full year 2016.(2) The AISC, after by-product credits, was $6.23 per silver ounce for the fourth quarter and $5.76 for 2017, down from $7.03 and $9.42 for the same periods of 2016.(3) The lower per silver ounce cash cost, after by-product credits, was primarily due to higher base metal prices. The lower AISC, after by-product credits, was also the result of lower capital spending, partially offset by higher exploration spending.

For the full year of 2017, Greens Creek generated cash provided by operating activities of approximately $136.7 million and spent $35.3 million on additions to properties, plants and equipment, resulting in free cash flow of $101.4 million.(6)

Casa Berardi - Quebec

Gold production of 43,444 ounces during the fourth quarter 2017, including 12,327 ounces from the East Mine Crown Pillar (EMCP) pit, was 4% higher than the same period of 2016 due to higher ore throughput and mill recoveries. Full-year 2017 gold production of 156,653 ounces, including 37,914 ounces from the EMCP pit, was higher than the prior year period by 7% and the highest since acquisition of the operation. The mill operated at an average of 3,764 tpd in the fourth quarter 2017 and 3,551 tpd for the year which is 825 tpd more than 2016 and approximately 1,350 tpd greater than the throughput at acquisition.

The cost of sales of $45.4 million and $180.2 million for the fourth quarter and full year 2017, respectively, a decrease of 7% for the quarter and an increase of 16% for the full year compared to 2016. The cash cost, after by-product credits, per gold ounce of $719 for the fourth quarter 2017 decreased 10% over the prior year period, due to higher gold production and reduced stripping costs.(7)For the full year 2017, the cash cost, after by-product credits, per gold ounce increased to $820, from $764 for the prior year period, due to the expensing of EMCP pit stripping costs during the first half of the year.(2,5) The AISC, after by-product credits, was $1,039 per gold ounce for the fourth quarter and $1,174 for the full year 2017compared to $1,247 and $1,244 in the same periods of 2016, with the decrease due to higher gold production and lower capital spending.(3)

For the full year of 2017, Casa Berardi generated cash provided by operating activities of approximately $69.8 million and spent $50.7 million on additions to properties, plants and equipment, resulting in free cash flow of $19.1 million.(6)

San Sebastian - Mexico

Silver production was 759,100 ounces for the fourth quarter and 3,257,738 ounces for the full year of 2017 as compared to 860,071 and 4,294,123 ounces for the same periods of 2016. Gold production was 5,955 ounces for the fourth quarter and 25,177 ounces for the full year of 2017, compared to 7,042 and 34,042 ounces for the same periods of 2016. The lower metal production was expected with lower ore throughput and grades. The mill operated at an average of 354 tpd in the fourth quarter 2017 and 395 tpd for the year.

The cost of sales was $5.3 million and $23.7 million for the fourth quarter and full year 2017, respectively, compared to $7.8 million and $31.2 million for the same periods in 2016. Cash cost, after by-product credits, per silver ounce was ($3.80) in the fourth quarter and ($3.36) for the full year of 2017, as compared to ($3.12) and ($3.35) for the same periods of 2016.(2) The strong cash cost performance, after by-product credit, was due to the high silver grades and strong gold production which is used as a by-product credit. The AISC, after by-product credits, was ($0.64) for the fourth quarter and ($0.26) for the full year of 2017 compared to ($0.97) and ($1.99) for the same periods of 2016, with the increase due to higher capital and exploration spending.(3)

Open pit mining concluded in 2017 as planned, and the plant is processing stockpiled and underground ore as the underground mine ramps up in early 2018.

For the full year of 2017, San Sebastian generated cash provided by operating activities of approximately $62.4 million and spent $11.2 million on additions to properties, plants and equipment, resulting in free cash flow of $51.2 million.(6)

_______________
(2,3,5,6)   Non-GAAP measure. See pages 11-12 for more information.
                                

Lucky Friday Mine - Idaho

Silver production was 69,578 ounces in the fourth quarter and 838,658 ounces for the full year 2017, a decrease from 874,019 ounces and 3,596,010 ounces in the fourth quarter and full year of 2016 due to the ongoing strike by unionized employees, which began in March 2017. The Company continues to invest in the mine, with limited production and capital improvements being performed by salaried staff, as well as development in preparation for the arrival of the new Remote Vein Miner machine scheduled to arrive in late 2019.

Hecla has reached an agreement for binding third-party arbitration with the United Steelworkers. The agreement to arbitrate is subject to a ratification vote by the union membership in March. The three arbitrators, in early May, will select as a three-year contract either: 1) the contract the Company submitted in December 2017 as its revised last, best and final offer or 2) the agreement that expired in April 2016, as modified by certain changes agreed to by the union and the Company.

The cost of sales for the fourth quarter and full year 2017 was $0.6 million and $15.1 million, respectively, and the cash cost, after by-product credits, per silver ounce was ($2.65) and $5.81 for the fourth quarter and full year 2017, respectively, a decrease from $7.50 and $8.89 for the same periods of 2016as a result of higher base metals prices.(2) AISC, after by-product credits, was $15.57 and $12.48 per silver ounce, for the fourth quarter and full year 2017, respectively, compared to $18.52 and $20.66 for the same periods of 2016, with the decrease due to higher base metal prices, and lower capital spending as a result of completion of the #4 Shaft project and the strike.(3) Costs not directly related to mining and processing ore have been classified as suspension costs during the strike period and are excluded from the calculations of per silver ounce costs. The per silver ounce costs for 2017 are not indicative of future operating results at full production.

For the full year of 2017, Lucky Friday generated cash provided by operating activities of approximately $7.8 million, incurred $17.1 million for suspension costs, and spent $6.3 million on additions to properties, plants and equipment, resulting in free cash flow of negative $15.6 million.(6)

_______________
  (6)   Non-GAAP measures. See page 12 for more information.
                            

EXPLORATION AND PRE-DEVELOPMENT

Expenditures

Exploration (including corporate development) expenses were $5.9 million, and $23.5 million for the fourth quarter and full year 2017, respectively. This represents an increase of 29% and 60% over the fourth quarter and full year 2016. These increases were primarily the result of more exploration at San Sebastian, Casa Berardi and Greens Creek and drilling at Kinskuch and Little Baldy projects.

A complete summary of exploration activities can be found in the news release entitled "Hecla Reports Discoveries at San Sebastian, Casa Berardi and Greens Creek" released on February 12, 2018.

Pre-development

Pre-development spending was $1.4 million in the fourth quarter and $5.4 million for the full year 2017, principally to advance the permitting at Rock Creek and Montanore.

Rock Creek

In June 2017, the U.S. Forest Service issued the Environmental Impact Statement (EIS) and draft Record of Decision (ROD) for the Rock Creek Project. The agency is incorporating comments made on the draft ROD and it is anticipated that it will issue a Final ROD and Final EIS in the first quarter of 2018 authorizing the evaluation phase of the project.

Montanore

In June 2017, the Federal District court judge in Missoula, Montana remanded back to the U.S. Forest Service and U.S. Fish and Wildlife Service their approvals for the Montanore project. The court advised that the agencies could proceed with the approval of the evaluation phase of the project. The U.S. Forest Service determined a focused supplemental EIS would be prepared focusing on the evaluation phase and published its notice of intent to do so in the Federal Register in December 2017. It is anticipated that the agency will complete its assessment and issue a new ROD in late 2018 or early 2019. As a part of this permitting process, the U.S. Fish and Wildlife Service is expected to prepare updated terrestrial and aquatic biological opinions for the project.

Troy Reclamation

Reclamation of the former Troy Mine near Troy, Montana continued as planned with the placement of cover soil on approximately one-half of the 330-acre tailings facility. Some building demolition work also was conducted in the mill site area. Reclamation works are expected to continue in 2018.

Research and Development

The Research and Development activities of the Company consisted primarily of work being conducted on the Remote Vein Miner project, the focus of which is shifting towards fabrication of the unit, with delivery expected late in 2019.

BASE METALS AND CURRENCY HEDGING

Base Metals Forward Sales Contracts

The following table summarizes the quantities of base metals committed under financially settled forward sales contracts at December 31, 2017:

                                          Pounds Under Contract                           Average Price per Pound
                                                                                   (in thousands)
                                                                          Zinc      Lead                                               Zinc              Lead
                                                                        ------- -------------------- -------                                           ------------------------------ ----------------------
Contracts on forecasted sales                                                                                                                  
  2018 settlements                                                       32,187                       16,645                                              $ 1.29                               $       1.06
  2019 settlements                                                       23,589                       18,078                                              $ 1.33                               $       1.09
  2020 settlements                                                        3,307                        2,866                                              $ 1.27                               $       1.08
                                                                                                                                                                                       

The contracts represent 26% of the forecasted payable zinc production for the next three years at an average price of $1.31 per pound, and 39% of the forecasted payable lead production for the next three years at an average price of $1.08 per pound.

Foreign Currency Forward Purchase Contracts

The following table summarizes the Canadian dollars and Mexican pesos the Company has committed to purchase under foreign exchange forward contracts at December 31, 2017:

                                  Currency Under Contract                              Average Exchange Rate
                                                                       (in thousands of CAD/MXN)
                                                                CAD           MXN                                                 CAD/USD         MXN/USD
                                                             ----------------------------- --------------                                           ------- -------------------- --------------------
  2018 settlements                                           119,450           168,400                                              1.29                  19.36
  2019 settlements                                            63,600                              109,800                                              1.31                                     20.40
  2020 settlements                                            30,000                       --                                              1.29                            --
                                                                                                                                                                                  

2018 ESTIMATES(7)

2018 Production Outlook

        Silver Production       Gold Production       Silver Equivalent       Gold Equivalent
                                                                       (Moz)                                     (Koz)                                     (Moz)                                     (Koz)
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek                    7.5-8.0                 50-55                21.0-22.5               300-313
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday                          
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian                   2.0-2.5                 13-17                 3.0-3.5                 40-52
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi                        155-160               11.0-11.5               155-160
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
  Total                        9.5-10.5                218-232               35.0-37.5               495-525
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                             

2018 Cost Outlook

         Costs of Sales      Cash cost, after by-   AISC, after by-product
                                                                     (million)                           product credits, per                       credits, per produced
                                                                                                              silver/gold                                silver/gold
                                                                                                              ounce(2,5)                                  ounce(3)
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
Greens Creek                     $198                   $0.50                   $7.75
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
Lucky Friday                      
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
San Sebastian                     $44                   $8.50                  $12.50
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
Total Silver                     $242                   $2.25                  $12.75
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
Casa Berardi                     $185                   $800                   $1,100
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
  Total Gold                     $185                   $800                   $1,100
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
                                                                      

2018 Capital and Exploration Outlook

2018E Capital expenditures (excluding capitalized interest)         $95-$105 million
--------------------------------------------------------------- -------------------- -------------------- ----------------
2018E Exploration expenditures (includes Corporate Development)     $30-$37 million
--------------------------------------------------------------- -------------------- -------------------- ----------------
2018E Pre-development expenditures                                  $5 million
--------------------------------------------------------------- -------------------- -------------------- ----------------
2018 Research and Development expenditures                          $12-$16 million
--------------------------------------------------------------- -------------------- -------------------- ----------------
                                                                   

DIVIDENDS

The Board of Directors declared a quarterly dividend of $0.0025 per share of common stock, payable on or about March 13, 2018, to shareholders of record on March 6, 2018. The Company’s realized silver price was $16.87 in the fourth quarter and therefore did not satisfy the criteria for a larger dividend under the Company’s dividend policy.

The Board of Directors also declared the regular quarterly dividend of $0.875 per share on the 157,816 outstanding shares of Series B Cumulative Convertible Preferred Stock. This represents a total amount to be paid of approximately $138,000. The cash dividend is payable April 2, 2018, to shareholders of record on March 15, 2018.

_______________
(2,3,5,7)   Non-GAAP measures. See pages 11-12 for more information.
                                

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held today, Thursday, February 15, at 10:00 a.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-855-760-8158 or for international by dialing 1-720-634-2922. The participant passcode is HECLA. Hecla’s live and archived webcast can be accessed at www.hecla-mining.com under Investors or via Thomson StreetEvents Network.

ABOUT HECLA

Founded in 1891, Hecla Mining Company (HL ) is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with an operating mine in Quebec, Canada. The Company also has exploration and pre-development properties in seven world-class silver and gold mining districts in the U.S., Canada and Mexico, and an exploration office and investments in early-stage silver exploration projects in Canada.

NOTES

Non-GAAP Financial Measures

Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by generally accepted accounting principles (GAAP). These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The non-GAAP financial measures cited in this release and listed below are reconciled to their most comparable GAAP measure at the end of this release.

(1) Adjusted net income applicable to common stockholders is a non-GAAP measurement, a reconciliation of which to net income applicable to common stockholders, the most comparable GAAP measure, can be found at the end of the release. Adjusted net income is a measure used by management to evaluate the Company’s operating performance but should not be considered an alternative to net income, or cash provided by operating activities as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. In addition, the Company may use it when formulating performance goals and targets under its incentive program.

(2) Cash cost, after by-product credits, per silver and gold ounce is a non-GAAP measurement, a reconciliation of which to cost of sales and other direct production costs and depreciation, depletion and amortization (sometimes referred to as "cost of sales" in this release), can be found at the end of the release. It is an important operating statistic that management utilizes to measure each mine’s operating performance. It also allows the benchmarking of performance of each mine versus those of our competitors. As a primary silver mining company, management also uses the statistic on an aggregate basis - aggregating the Greens Creek, Lucky Friday and San Sebastian mines - to compare performance with that of other primary silver mining companies. With regard to Casa Berardi, management uses cash cost, after by-product credits, per gold ounce to compare its performance with other gold mines. Similarly, the statistic is useful in identifying acquisition and investment opportunities as it provides a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics. In addition, the Company may use it when formulating performance goals and targets under its incentive program.

(3) All in sustaining cost (AISC), after by-product credits, is a non-GAAP measurement, a reconciliation of which to cost of sales and other direct production costs and depreciation, depletion and amortization, the closest GAAP measurement, can be found in the end of the release. AISC, after by-product credits, includes cost of sales and other direct production costs, expenses for reclamation and exploration at the mines sites, corporate exploration related to sustaining operations, and all site sustaining capital costs. AISC, after by-product credits, is calculated net of depreciation, depletion, and amortization and by-product credits.

Current GAAP measures used in the mining industry, such as cost of goods sold, do not capture all the expenditures incurred to discover, develop and sustain silver and gold production. Management believes that all in sustaining costs is a non-GAAP measure that provides additional information to management, investors and analysts to help (i) in the understanding of the economics of our operations and performance compared to other producers and (ii) in the transparency by better defining the total costs associated with production. Similarly, the statistic is useful in identifying acquisition and investment opportunities as it provides a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics. In addition, the Company may use it when formulating performance goals and targets under its incentive program.

(4) Adjusted EBITDA is a non-GAAP measurement, a reconciliation of which to net income, the most comparable GAAP measure, can be found at the end of the release. Adjusted EBITDA is a measure used by management to evaluate the Company’s operating performance but should not be considered an alternative to net income, or cash provided by operating activities as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. In addition, the Company may use it when formulating performance goals and targets under its incentive program.

(5) Cash cost, after by-product credits, per gold ounce is only applicable to Casa Berardi production. Gold produced from Greens Creek and San Sebastian is treated as a by-product credit against the silver cash cost.

(6) Free cash flow is a non-GAAP measure calculated as cash provided by operating activities less additions to properties, plants and equipment. Free cash flow for Lucky Friday also includes a reduction for suspension costs incurred during the strike.

Other

(7) Expectations for 2018 includes silver, gold, lead and zinc production from Greens Creek, San Sebastian and Casa Berardi converted using Au $1,225/oz, Ag $17.25/oz, Zn $1.30/lb, and Pb $1.00/lb. Lucky Friday expectations are currently suspended as there is currently a strike. Numbers may be rounded.

(8) Silver or gold equivalent production includes silver, gold, lead and zinc production from Lucky Friday, Greens Creek, San Sebastian and Casa Berardi converted using average prices for the year.

Cautionary Statement Regarding Forward Looking Statements, Including 2018 Outlook

This news release contains "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, including Canadian securities laws. Such forward-looking statements may include, without limitation: (i) estimates of future production; (ii) estimates of future costs including cash cost, after by-product credits per ounce of silver/gold and AISC, after by-product credits, per ounce of silver/gold; (iii) estimates for 2018 for silver and gold production, silver equivalent production, cash cost, after by-product credits, AISC, after by-product credits, capital expenditures and exploration and pre-development expenditures (which assumes metal prices of gold at $1,225/oz, Ag $17.25/oz, Zn $1.30/lb, Pb $1.00/lb; USD/CAD assumed to be $0.79, USD/MXN assumed to be $0.06; and (iv) the Company’s mineral reserves and resources. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. 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) the exchange rate for the Canadian dollar to the U.S. dollar, being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; and (viii) 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. Where the Company 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." Such risks include, but are not limited to gold, silver and other metals price volatility, operating risks, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, community relations, conflict resolution and outcome of projects or oppositions, litigation, political, regulatory, labor and environmental risks, and exploration risks and results, including that mineral resources are not mineral reserves, they do not have demonstrated economic viability and there is no certainty that they can be upgraded to mineral reserves through continued exploration. For a more detailed discussion of such risks and other factors, see the Company’s 2017 Form 10-K, filed on February 15, 2018, with the Securities and Exchange Commission (SEC), as well as the Company’s other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors’ own risk.

Cautionary Statements to Investors on Reserves and Resources

Reporting requirements in the United States for disclosure of mineral properties are governed by the SEC and included in the SEC’s Securities Act Industry Guide 7, entitled "Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations" (Guide 7). However, the Company is also a "reporting issuer" under Canadian securities laws, which require estimates of mineral resources and reserves to be prepared in accordance with Canadian National Instrument 43-101 (NI 43-101). NI 43-101 requires all disclosure of estimates of potential mineral resources and reserves to be disclosed in accordance with its requirements. Such Canadian information is included herein to satisfy the Company’s "public disclosure" obligations under Regulation FD of the SEC and to provide U.S. holders with ready access to information publicly available in Canada.

Reporting requirements in the United States for disclosure of mineral properties under Guide 7 and the requirements in Canada under NI 43-101 standards are substantially different. This document contains a summary of certain estimates of the Company, not only of proven and probable reserves within the meaning of Guide 7, but also of mineral resource and mineral reserve estimates estimated in accordance with the definitional standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101. Under Guide 7, the term "reserve" means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term "economically", as used in the definition of reserve, means that profitable extraction or production has been established or analytically demonstrated to be viable and justifiable under reasonable investment and market assumptions. The term "legally", as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Hecla must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Hecla’s current mine plans. The terms "measured resources", "indicated resources," and "inferred resources" are Canadian mining terms as defined in accordance with NI 43-101. These terms are not defined under Guide 7 and are not normally permitted to be used in reports and registration statements filed with the SEC in the United States, except where required to be disclosed by foreign law. The term "resource" does not equate to the term "reserve". Under Guide 7, the material described herein as "indicated resources" and "measured resources" would be characterized as "mineralized material" and is permitted to be disclosed in tonnage and grade only, not ounces. The category of "inferred resources" is not recognized by Guide 7. Investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted into proven or probable reserves. "Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of such a "resource" will ever be upgraded to a higher category or will ever be economically extracted. Investors are cautioned not to assume that all or any part of a "resource" exists or is economically or legally mineable. Investors are also especially cautioned that the mere fact that such resources may be referred to in ounces of silver and/or gold, rather than in tons of mineralization and grades of silver and/or gold estimated per ton, is not an indication that such material will ever result in mined ore which is processed into commercial silver or gold.

Qualified Person (QP) Pursuant to Canadian National Instrument 43-101

Dean McDonald, PhD. P.Geo., Senior Vice President - Exploration of Hecla Mining Company, who serves as a Qualified Person under National Instrument 43-101, supervised the preparation of the scientific and technical information concerning Hecla’s mineral projects in this news release. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of sample, analytical or testing procedures for the Greens Creek Mine are contained in a technical report prepared for Hecla titled "Technical Report for the Greens Creek Mine, Juneau, Alaska, USA" effective date March 28, 2013, and for the Lucky Friday Mine are contained in a technical report prepared for Hecla titled "Technical Report on the Lucky Friday Mine Shoshone County, Idaho, USA" effective date April 2, 2014, for the Casa Berardi Mine are contained in a technical report prepared for Hecla titled "Technical Report on the Mineral Resource and Mineral Reserve Estimate for the Casa Berardi Mine, Northwestern Quebec, Canada" effective date March 31, 2014 (the "Casa Berardi Technical Report"), and for the San Sebastian Mine are contained in a technical report prepared for Hecla titled "Technical Report for the San Sebastian Ag-Au Property, Durango, Mexico" effective date September 8, 2015. Also included in these four technical reports is a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors. Copies of these technical reports are available under Hecla’s profile on SEDAR at www.sedar.com.

The current Casa Berardi drill program was performed on core sawed in half and included the insertion of blanks and standards of variable grade in every 24 core samples. Standards were generally provided by Analytical Solutions Ltd and prepared in 30-gram bags. Samples were sent to the Swastika Laboratories in Swastika, Ontario, a registered accredited laboratory, where they were dried, crushed, and split for gold analysis. Analysis for gold was completed by fire assay with AA finish. Gold over-limits were analyzed by fire assay with gravimetric finish. Data received from the lab were subject to validation using in-built program triggers to identify outside limit blank or standard assays that require re-analysis. Over 5% of the original pulps and rejects are sent for re-assay to ALS Chemex in Val d’Or for quality control.

Dr. McDonald reviewed and verified information regarding drill sampling, data verification of all digitally-collected data, drill surveys and specific gravity determinations relating to the Casa Berardi mine. The review encompassed quality assurance programs and quality control measures including analytical or testing practice, chain-of-custody procedures, sample storage procedures and included independent sample collection and analysis. This review found the information and procedures meet industry standards and are adequate for Mineral Resource and Mineral Reserve estimation and mine planning purposes.

                                                                                                                                         HECLA MINING COMPANY
                                                                                                                          Condensed Consolidated Statements of Income (Loss)
                                                                                                                     (dollars and shares in thousands, except per share amounts -
                                                                                                                                              unaudited)
                                                                                                                                          
                                                                                                        Fourth Quarter Ended                                                                             Twelve Months Ended
                                                                                      -----------------------------------------------------------------------------------------------                     --------------------------------------------------------------------------------------------
                                                                                                  December 31,                           December 31,                                             December 31,                         December 31,
                                                                                                      2017                                                      2016                                                     2017                                                    2016
                                                                                      ----------------------------------                        ----------------------------------                        -------------------------------                        ----------------------------------
Sales of products                                                                           $ 160,113                              $ 164,245                           $ 577,775                              $ 645,957  
                                                                                      ------- ------- --------------------                      ------- ------- --------------------                      ---- ------- --------------------                      ------- ------- --------------------
Cost of sales and other direct production costs                                                80,190                                                    86,990                                                304,727                                                   338,325
Depreciation, depletion and amortization                                                       32,697                                 33,707                             116,062                                116,126  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Total cost of sales                                                                           112,887                                120,697                             420,789                                454,451  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Gross profit                                                                                   47,226                                 43,548                             156,986                                191,506  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
                                                                                                                                                                                                                                                                  
Other operating expenses:
  General and administrative                                                                    6,567                                                    13,312                                                 35,611                                                    45,040
  Exploration                                                                                   5,888                                                     4,549                                                 23,510                                                    14,720
  Pre-development                                                                               1,387                                                     1,662                                                  5,448                                                     3,137
  Research and development                                                                      1,151                                                       126                                                  3,276                                                       243
  Other operating expense                                                                         923                                                       735                                                  2,513                                                     3,153
  (Gain) loss on disposition of property, plants, equipment and                                (1,118 )                                                     172                                                 (6,042 )                                                    (147 )
  mineral interests
  Lucky Friday suspension-related costs                                                         6,916                                            --                                                 21,301                                            --
  Acquisition costs                                                                    --                                                       528                                                     25                                                     2,695
  Provision for closed operations and reclamation                                               1,657                                    942                               6,701                                  5,721  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
                                                                                               23,371                                 22,026                              92,343                                 74,562  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Income from operations                                                                         23,855                                 21,522                              64,643                                116,944  
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Other income (expense):
  (Loss) gain on derivative contracts                                                          (4,702 )                                                   4,423                                                (21,250 )                                                   4,423
  Gain (loss) on disposition of investments                                                         1                                            --                                                   (166 )                                          --
  Unrealized loss on investments                                                                 (174 )                                                    (665 )                                                 (247 )                                                    (177 )
  Net foreign exchange gain (loss)                                                                609                                                     4,787                                                (10,300 )                                                  (2,926 )
  Interest and other income                                                                       507                                                       161                                                  1,692                                                       507
  Interest expense                                                                             (9,589 )                                                  (5,141 )                                              (38,012 )                                                 (21,796 )
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
                                                                                              (13,348 )                                                   3,565                             (68,283 )                                                 (19,969 )
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Income (loss) before income taxes                                                              10,507                                                    25,087                                                 (3,640 )                                                  96,975
Income tax provision                                                                          (38,256 )                                                  (4,825 )                                              (19,879 )                                                 (27,428 )
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Net income (loss)                                                                             (27,749 )                                                  20,262                                                (23,519 )                                                  69,547
Preferred stock dividends                                                                        (138 )                                                    (138 )                                                 (552 )                                                    (552 )
                                                                                      ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Income (loss) applicable to common stockholders                                             $ (27,887 )                                               $  20,124                           $ (24,071 )                                               $  68,995  
                                                                                      ======= ======= ====================                      ======= ======= ====================                      ==== ======= ====================                      ======= ======= ====================
Basic income (loss) per common share after preferred dividends                              $   (0.07 )                                               $    0.05                           $   (0.06 )                                               $    0.18  
                                                                                      ======= ======= ====================                      ======= ======= ====================                      ==== ======= ====================                      ======= ======= ====================
Diluted income (loss) per common share after preferred dividends                            $   (0.07 )                                               $    0.05                           $   (0.06 )                                               $    0.18  
                                                                                      ======= ======= ====================                      ======= ======= ====================                      ==== ======= ====================                      ======= ======= ====================
Weighted average number of common shares outstanding basic                                    399,133                                395,229                             397,394                                386,416  
                                                                                      ====================================                      ====================================                      =================================                      ====================================
Weighted average number of common shares outstanding diluted                                  399,133                                397,717                             397,394                                389,322  
                                                                                      ====================================                      ====================================                      =================================                      ====================================
                                                                                                                                                                                                                                                                                  
                                                                          HECLA MINING COMPANY
                                                                  Condensed Consolidated Balance Sheets
                                                              (dollars and share in thousands - unaudited)
 
                                                   December 31, 2017                        December 31, 2016
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
ASSETS                                                                                       
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
Current assets:                                                                                               
  Cash and cash equivalents                                                 $   186,107                                                $   169,777
  Investments                                                                    33,758                                                     29,117
  Accounts receivable                                                            32,190                                                     30,049
  Inventories                                                                    54,555                                                     50,023
  Other current assets                                                           13,715                                  12,125  
                                                                      --------------------------------------                      -------------------------------------
  Total current assets                                                          320,325                                                    291,091
Non-current investments                                                           7,561                                                      5,002
Non-current restricted cash and investments                                       1,032                                                      2,200
Properties, plants, equipment and mineral interests, net                      2,020,021                                                  2,032,685
Deferred income tax asset                                                         1,509                                                     35,815
Other non-current assets and deferred charges                                    14,509                                   4,884  
                                                                      --------------------------------------                      -------------------------------------
Total assets                                                                $ 2,364,957                             $ 2,371,677  
                                                                      ======= ========= ====================                      ====== ========= ====================
                                                                          
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
LIABILITIES                                                                                  
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
Current liabilities:
  Accounts payable and accrued liabilities                                  $    46,549                                                $    60,064
  Accrued payroll and related benefits                                           31,259                                                     36,515
  Accrued taxes                                                                   5,919                                                      9,061
  Current portion of capital leases                                               5,608                                                      5,653
  Current portion of accrued reclamation and closure costs                        6,679                                                      5,653
  Current portion of debt                                                --                                                        470
  Accrued interest                                                                5,745                                                      5,745
  Other current liabilities                                                      10,371                                   3,064  
                                                                      --------------------------------------                      -------------------------------------
Total current liabilities                                                       112,130                                                    126,225
Capital leases                                                                    6,193                                                      5,838
Accrued reclamation and closure costs                                            79,366                                                     79,927
Long-term debt                                                                  502,229                                                    500,979
Deferred income tax liability                                                   121,546                                                    122,855
Non-current pension liability                                                    46,628                                                     44,491
Other non-current liabilities                                                    12,983                                  11,518  
                                                                      --------------------------------------                      -------------------------------------
Total liabilities                                                               881,075                                 891,833  
                                                                      --------------------------------------                      -------------------------------------
                                                                          
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
STOCKHOLDERS’ EQUITY                                              
--------------------------------------------------------------------- ----------------------------------------------------------- --------------------------------------
Preferred stock                                                                      39                                                         39
Common stock                                                                    100,926                                                     99,806
Capital surplus                                                               1,619,816                                                  1,597,212
Accumulated deficit                                                            (195,484 )                                                 (167,437 )
Accumulated other comprehensive loss                                            (23,373 )                                                  (34,602 )
Treasury stock                                                                  (18,042 )                                                  (15,174 )
                                                                      --------------------------------------                      -------------------------------------
Total stockholders’ equity                         1,483,882                               1,479,844  
                                                                      --------------------------------------                      -------------------------------------
Total liabilities and stockholders’ equity       $ 2,364,957                             $ 2,371,677  
                                                                      ======= ========= ====================                      ====== ========= ====================
Common shares outstanding                                                       399,176                                 395,287  
                                                                      --------------------------------------                      -------------------------------------
                                                                                                                                                    
 
                                                                                  HECLA MINING COMPANY
                                                                     Condensed Consolidated Statements of Cash Flows
                                                                           (dollars in thousands - unaudited)
 
                                                               December 31,                           December 31,
                                                                                                         2017                                                      2016
------------------------------------------------------------------- -------------------- ----------------------------------   -------------------- ----------------------------------
OPERATING ACTIVITIES                                                                       
------------------------------------------------------------------- -------------------- --------------------------------------------------------- -------------------------------------
Net income (loss)                                                           $ (23,519 )                            $  69,547
Non-cash elements included in net income (loss):
  Depreciation, depletion and amortization                                                       121,930                                                   117,413
  Loss on disposition of investments                                                                 167                                            --
  Unrealized loss on investments                                                                     251                                                       177
  Gain on disposition of properties, plants, equipment and mineral                                (6,042 )                                                    (147 )
  interests
  Provision for reclamation and closure costs                                                      4,508                                                     4,813
  Deferred income taxes                                                                           18,308                                                     2,112
  Stock compensation                                                                               6,323                                                     6,184
  Acquisition costs                                                                       --                                                     1,048
  Amortization of loan origination fees                                                            1,864                                                     1,871
  Loss (gain) on derivative contracts                                                             20,741                                                    (5,494 )
  Foreign exchange loss                                                                           10,828                                                     4,649
  Adjustment of inventory to market value                                                 --                                                       811
  Other non-cash charges, net                                                                         51                                                      (174 )
Change in assets and liabilities:
  Accounts receivable                                                                             (2,414 )                                                   4,233
  Inventories                                                                                     (3,744 )                                                  (5,697 )
  Other current and non-current assets                                                           (11,595 )                                                  14,422
  Accounts payable and accrued liabilities                                                       (16,434 )                                                  (6,539 )
  Accrued payroll and related benefits                                                             2,092                                                    17,705
  Accrued taxes                                                                                   (2,234 )                                                     263
  Accrued reclamation and closure costs and other non-current                                     (5,203 )                                                  (1,869 )
  liabilities
                                                                                         --------------  --------------------                      --------------  --------------------
Cash provided by operating activities                                                            115,878                                225,328  
                                                                                         ------------------------------------                      ------------------------------------
                                                                        
------------------------------------------------------------------- -------------------- --------------------------------------------------------- -------------------------------------
INVESTING ACTIVITIES                                                                       
------------------------------------------------------------------- -------------------- --------------------------------------------------------- -------------------------------------
Additions to properties, plants, equipment and mineral interests                                 (98,038 )                                                (164,788 )
Purchase of a business, net of cash acquired                                              --                                                    (3,931 )
Proceeds from disposition of properties, plants and equipment                                        374                                                       348
Insurance proceeds received for damaged property                                                   7,745                                            --
Change in restricted cash and investment balances                                                  1,168                                            --
Purchases of investments                                                                         (56,613 )                                                 (48,943 )
Maturities of investments                                                                         49,969                                 18,649  
                                                                                         ------------------------------------                      ------------------------------------
Net cash used in investing activities                                                            (95,395 )                                                (198,665 )
                                                                                         ------------------------------------                      ------------------------------------
                                                                        
------------------------------------------------------------------- -------------------- --------------------------------------------------------- -------------------------------------
FINANCING ACTIVITIES                                                                       
------------------------------------------------------------------- -------------------- --------------------------------------------------------- -------------------------------------
Acquisition of treasury shares                                                                    (2,868 )                                                  (4,440 )
Proceeds from issuance of common stock and warrants, net of related                                9,610                                                     8,121
expense
Dividends paid to common stockholders                                                             (3,976 )                                                  (3,867 )
Dividends paid to preferred stockholders                                                            (552 )                                                    (552 )
Payments on debt                                                                                    (470 )                                                  (2,721 )
Debt issuance and loan origination fees paid                                                        (476 )                                                    (127 )
Repayments of capital leases                                                                      (6,516 )                                                  (8,435 )
                                                                                         ------------------------------------                      ------------------------------------
Net cash used in financing activities                                                             (5,248 )                                                 (12,021 )
                                                                                         ------------------------------------                      ------------------------------------
Effect of exchange rates on cash                                                                   1,095                                                       (74 )
Net increase in cash and cash equivalents                                                         16,330                                                    14,568
Cash and cash equivalents at beginning of year                                                   169,777                                155,209  
                                                                                         ------------------------------------                      ------------------------------------
Cash and cash equivalents at end of year                                                       $ 186,107                              $ 169,777  
                                                                                         ------- ------- --------------------                      ------- ------- --------------------
                                                                                                                                                                    
                                                                                                      HECLA MINING COMPANY
                                                                                                          Metal Prices
 
                                                                     Fourth Quarter Ended                                                    Twelve Months Ended
                                                                   ---------------------------------------------------------------                     --------------------------------------------------------------------------
              December 31,           December 31,                              December 31,                 December 31,
                                                                           2017                                      2016                                      2017                                            2016
-------------------- -------------------- ------------------------ ------------------   -------------------- ------------------                        ------------------   -------------------- ------------------------------
AVERAGE METAL PRICES                                                                               
------------------------------------------------------------------------------------------------------------ ---------------------                     ----------------------------------------- --------------------------------
Silver -                                  London PM Fix ($/oz)          $  16.70               $  17.18                                  $  17.05                   $                17.10
                                          Realized price per ounce      $  16.87                                  $  16.59                                  $  17.23                                      $                17.16
Gold -                                    London PM Fix ($/oz)          $  1,274                                  $  1,218                                  $  1,257                                      $                1,248
                                          Realized price per ounce      $  1,278                                  $  1,202                                  $  1,261                                      $                1,245
Lead -                                    LME Cash ($/pound)            $   1.13                                  $   0.98                                  $   1.05                                      $                 0.85
                                          Realized price per pound      $   1.14                                  $   0.97                                  $   1.06                                      $                 0.85
Zinc -                                    LME Cash ($/pound)            $   1.47                                  $   1.14                                  $   1.31                                      $                 0.95
                                          Realized price per pound      $   1.46                                  $   1.15                                  $   1.32                                      $                 0.95
                                                                                                                                                                                                             
                                                                                                                                   Production Data
                                                                  
                                                                                                                   Fourth Quarter Ended                                                                   Twelve Months Ended
                                                                                      -------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------
                                                           December 31,                   December 31,                  December 31,                         December 31,
                                                                                                     2017                                              2016                                             2017                                                    2016
---------------------------------------------------------------- -------------------- --------------------------------   -------------------- --------------------  -------------------- --------------------------------   -------------------- --------------------------------
GREENS CREEK UNIT                                                                                            
---------------------------------------------------------------- -------------------- ------------------------------------------------------- ------------------------------------------ ------------------------------------------------------- -----------------------------------
Tons of ore processed                                                                       211,689                                      204,760                            839,589                              815,639
Mining cost per ton                                                                        $  74.49                                                    $      70.33                           $  70.86                                                $  69.48
Milling cost per ton                                                                       $  32.38                                                    $      34.73                           $  32.38                                                $  31.99
Ore grade milled - Silver (oz./ton)                                                           13.02                                                           14.38                              12.88                                                   14.55
Ore grade milled - Gold (oz./ton)                                                              0.09                                                            0.10                               0.09                                                    0.10
Ore grade milled - Lead (%)                                                                    2.41                                                            3.27                               2.72                                                    3.11
Ore grade milled - Zinc (%)                                                                    6.53                                                            8.61                               7.25                                                    8.08
Silver produced (oz.)                                                                     2,146,223                                                       2,232,855                          8,351,882                                               9,253,543
Gold produced (oz.)                                                                          11,565                                                          14,415                             50,854                                                  53,912
Lead produced (tons)                                                                          3,916                                                           5,360                             17,996                                                  20,596
Zinc produced (tons)                                                                         11,850                                                          15,399                             52,547                                                  57,729
Total cash cost, after by-product credits, per silver ounce (1)                            $   0.66                                                    $       1.19                           $   0.71                                                $   3.84
AISC, after by-product credits, per silver ounce (1)                                       $   6.23                                                    $       7.03                           $   5.76                                                $   9.42
Capital additions (in thousands)                                        $ 10,364              $     11,846        $ 35,255          $ 47,046  
---------------------------------------------------------------- -------------------- ------ ------ -------------------- -------------------- ---------- ---------- -------------------- ------ ------ -------------------- -------------------- ------ ------ --------------------
LUCKY FRIDAY UNIT                                                                                            
---------------------------------------------------------------- -------------------- ------------------------------------------------------- ------------------------------------------ ------------------------------------------------------- -----------------------------------
Tons of ore processed                                                                         6,347                                                          77,628                             70,718                                                 293,875
Mining cost per ton                                                                        $  47.39                                                    $      94.92                           $ 106.75                                                $  98.12
Milling cost per ton                                                                       $   9.35                                                    $      22.16                           $  21.71                                                $  24.08
Ore grade milled - Silver (oz./ton)                                                           11.73                                                           11.70                              12.38                                                   12.69
Ore grade milled - Lead (%)                                                                    6.90                                                            7.13                               7.10                                                    7.78
Ore grade milled - Zinc (%)                                                                    5.06                                                            3.84                               4.01                                                    3.92
Silver produced (oz.)                                                                        69,578                                                         874,019                            838,658                                               3,596,010
Lead produced (tons)                                                                            391                                                           5,272                              4,737                                                  21,876
Zinc produced (tons)                                                                            257                                                           2,796                              2,560                                                  10,787
Total cash cost, net of by-product credits, per silver ounce (1)                           $  (2.65 )                                                  $       7.50                           $   5.81                                                $   8.89
AISC, after by-product credits, per silver ounce (1)                                       $  15.57                                                    $      18.52                           $  12.48                                                $  20.66
Capital additions (in thousands)                                        $  1,268              $      9,318        $  6,268          $ 41,536  
---------------------------------------------------------------- -------------------- ------ ------ -------------------- -------------------- ---------- ---------- -------------------- ------ ------ -------------------- -------------------- ------ ------ --------------------
CASA BERARDI UNIT                                                                                            
---------------------------------------------------------------- -------------------- ------------------------------------------------------- ------------------------------------------ ------------------------------------------------------- -----------------------------------
Tons of ore processed - underground                                                         198,846                                                         214,407                            805,047                                                 850,688
Tons of ore processed - surface pit                                                         147,432                                       89,887         491,177                              146,900  
                                                                                      ----------------------------------                      ------------------------------------------ ----------------------------------                      ----------------------------------
   Tons of ore processed - total                                                            346,278                                      304,294       1,296,224                              997,588  
                                                                                      ----------------------------------                      ------------------------------------------ ----------------------------------                      ----------------------------------
Surface tons mined - ore and waste                                                        1,225,692                                                       1,363,524                          7,652,759                                               2,577,605
Mining cost per ton - underground                                                          $ 101.87                                                    $      89.45                           $  99.49                                                $  89.00
Mining cost per ton - combined                                                             $  54.34                                                    $      86.35                           $  56.39                                                $  89.25
Mining cost per ton or ore and waste - surface tons mined                                  $   3.84                                                    $       5.23                           $   3.00                                                $   5.15
Milling cost per ton                                                                       $  15.59                                                    $      18.08                           $  16.10                                                $  18.64
Ore grade milled - Gold (oz./ton) - underground                                               0.180                                                           0.194                              0.170                                                   0.184
Ore grade milled - Gold (oz./ton) - surface pit                                                                    0.096                                      0.064                              0.089                                                   0.066
Ore grade milled - Gold (oz./ton) - combined                                                                       0.144                                      0.156                                                   0.139                              0.167
Ore grade milled - Silver (oz./ton)                                                                                 0.03                                       0.04                               0.03                                                    0.04
Gold produced (oz.) - underground                                                            31,117                                                          36,658                            118,739                                                 137,429
Gold produced (oz.) - surface pit                                                            12,327                                        5,035          37,914                                8,546  
                                                                                      ----------------------------------                      ------------------------------------------ ----------------------------------                      ----------------------------------
   Gold produced (oz.) - total                                                               43,444                                       41,693         156,653                              145,975  
                                                                                      ----------------------------------                      ------------------------------------------ ----------------------------------                      ----------------------------------
Silver produced (oz.) - total                                                                 9,885                                        9,607          36,566                               33,641  
                                                                                      ----------------------------------                      ------------------------------------------ ----------------------------------                      ----------------------------------
Total cash cost, net of by-product credits, per gold ounce (1)                             $    719                                                    $        800                           $    820                                                $    764
AISC, after by-product credits, per gold ounce (1)                                         $  1,039                                                    $      1,247                           $  1,174                                                $  1,244
Capital additions (in thousands)                                        $ 12,419              $     17,467        $ 50,668          $ 67,852  
---------------------------------------------------------------- -------------------- ------ ------ -------------------- -------------------- ---------- ---------- -------------------- ------ ------ -------------------- -------------------- ------ ------ --------------------
SAN SEBASTIAN UNIT                                                                                           
---------------------------------------------------------------- -------------------- ------------------------------------------------------- ------------------------------------------ ------------------------------------------------------- -----------------------------------
Tons of ore processed                                                                        32,574                                                          34,517                            144,197                                                 143,267
Mining cost per ton                                                                        $  30.18                                                    $      50.76                           $  36.77                                                $  75.46
Milling cost per ton                                                                       $  70.53                                                    $      71.01                           $  67.52                                                $  69.12
Ore grade milled - Silver (oz./ton)                                                           24.58                                                           26.40                              23.91                                                   31.94
Ore grade milled - Gold (oz./ton)                                                             0.193                                                           0.218                              0.185                                                   0.254
Silver produced (oz.)                                                                       759,100                                                         860,071                          3,257,738                                               4,294,123
Gold produced (oz.)                                                                           5,955                                                           7,042                             25,177                                                  34,042
Total cash cost, net of by-product credits, per silver ounce (1)                           $  (3.80 )                                                  $      (3.12 )                         $  (3.36 )                                              $  (3.35 )
AISC, after by-product credits, per silver ounce (1)                                       $  (0.64 )                                                  $      (0.97 )                         $  (0.26 )                                              $  (1.99 )
Capital additions (in thousands)                                                           $  3,751                                                    $        341                           $ 11,231                                                $  1,564
(1)   Cash cost, after by-product credits, per ounce and AISC, after
                         by-product credits. per ounce represent non-U.S. Generally Accepted
                         Accounting Principles (GAAP) measurements. A reconciliation of cost
                         of sales and other direct production costs and depreciation,
                         depletion and amortization (GAAP) to cash cost, after by-product
                         credits can be found in the cash cost per ounce reconciliation
                         section of this news release. Gold, lead and zinc produced have been
                         treated as by-product credits in calculating silver costs per ounce.
                         The primary metal produced at Casa Berardi is gold, with a
                         by-product credit for the value of silver production.

Non-GAAP Measures (Unaudited)

Reconciliation of Cost of Sales and Other Direct Production Costs and Depreciation, Depletion and Amortization (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Cost, Before By-product Credits and All-In Sustaining Cost, After By-product Credits (non-GAAP)

The tables below present reconciliations between the most comparable GAAP measure of cost of sales and other direct production costs and depreciation, depletion and amortization to the non-GAAP measures of (i) Cash Cost, Before By-product Credits, (ii) Cash Cost, After By-product Credits, (iii) AISC, Before By-product Credits and (iv) AISC, After By-product Credits for our operations at the Greens Creek, Lucky Friday, San Sebastian and Casa Berardi units and for the Company for the three- and twelve-month periods ended December 31, 2017 and 2016, and for estimated amounts for the twelve months ended December 31, 2018.

Cash Cost, After By-product Credits, per Ounce is a measure developed by precious metals companies (including the Silver Institute) in an effort to provide a uniform standard for comparison purposes. There can be no assurance, however, that these non-GAAP measures as we report them are the same as those reported by other mining companies.

Cash Cost, After By-product Credits, per Ounce is an important operating statistic that we utilize to measure each mine’s operating performance. We have recently started reporting AISC, After By-product Credits, per Ounce which we use as a measure of our mines’ net cash flow after costs for exploration, pre-development, reclamation, and sustaining capital. This is similar to the Cash Cost, After By-product Credits, per Ounce non-GAAP measure we report, but also includes on-site exploration, reclamation, and sustaining capital costs. Current GAAP measures used in the mining industry, such as cost of goods sold, do not capture all the expenditures incurred to discover, develop and sustain silver and gold production. Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce also allow us to benchmark the performance of each of our mines versus those of our competitors. As a primary silver mining company, we also use these statistics on an aggregate basis - aggregating the Greens Creek, Lucky Friday and San Sebastian mines - to compare our performance with that of other primary silver mining companies. With regard to Casa Berardi, we use Cash Cost, After By-product Credits, per Gold Ounce and AISC, After By-product Credits, per Gold Ounce to compare its performance with other gold mines. Similarly, these statistics are useful in identifying acquisition and investment opportunities as they provide a common tool for measuring the financial performance of other mines with varying geologic, metallurgical and operating characteristics.

Cash Cost, Before By-product Credits and AISC, Before By-product Credits include all direct and indirect operating cash costs related directly to the physical activities of producing metals, including mining, processing and other plant costs, third-party refining expense, on-site general and administrative costs, royalties and mining production taxes. AISC, Before By-product Credits for each mine also includes on-site exploration, reclamation, and sustaining capital costs. AISC, Before By-product Credits for our consolidated silver properties also includes corporate costs for general and administrative expense, exploration and sustaining capital projects. By-product credits include revenues earned from all metals other than the primary metal produced at each unit. As depicted in the tables below, by-product credits comprise an essential element of our silver unit cost structure, distinguishing our silver operations due to the polymetallic nature of their orebodies.

In addition to the uses described above, Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce provide management and investors an indication of operating cash flow, after consideration of the average price, received from production. We also use these measurements for the comparative monitoring of performance of our mining operations period-to-period from a cash flow perspective.

The Casa Berardi section below reports Cash Cost, After By-product Credits, per Gold Ounce and AISC, After By-product Credits, per Gold Ounce for the production of gold, its primary product, and by-product revenues earned from silver, which is a by-product at Casa Berardi. Only costs and ounces produced relating to units with the same primary product are combined to represent Cash Cost, After By-product Credits, per Ounce and AISC, After By-product Credits, per Ounce. Thus, the gold produced at our Casa Berardi unit is not included as a by-product credit when calculating Cash Cost, After By-product Credits, per Silver Ounce and AISC, After By-product Credits, per Silver Ounce for the total of Greens Creek, Lucky Friday and San Sebastian, our combined silver properties. Similarly, the silver produced at our other three units is not included as a by-product credit when calculating the similar gold metrics for Casa Berardi.

In thousands (except per ounce amounts)                                                                                                                                                                                     Three Months Ended December 31, 2017
                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                     Greens                                 Lucky                           San           Corporate(3)                  Total                                 Casa                                   Total
                                                                                                      Creek                                                  Friday(2)                                         Sebastian                                                                           Silver                                                   Berardi
                                                                                                                                                                                                                                                                                                                                                            (Gold)
                                                                                       --------------------------------                        ----------------------------------                        ------------------                        -----------                       --------------------------------                        ----------------------------------                        ---------------------------------
Cost of sales and other direct production costs and depreciation,                           $ 61,561                                                 $     565                                                $  5,323                                                                    $ 67,449                                                $   45,438                                                $ 112,887
depletion and amortization
Depreciation, depletion and amortization                                                     (16,886 )                                                     (14 )                                                  (657 )                                                                   (17,557 )                                                 (15,140 )                                                (32,697 )
Treatment costs                                                                               10,153                                                       502                                                     279                                                                      10,934                                                       658                                                   11,592
Change in product inventory                                                                   (7,645 )                                                      42                                                     137                                                                      (7,466 )                                                     584                                                   (6,882 )
Reclamation and other costs                                                                   (1,241 )                                                      48                                 (378 )                                                                    (1,571 )                                                    (122 )                                                 (1,693 )
                                                                                       ----------------------------------                      ------------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, Before By-product Credits (1)                                                      45,942                                                     1,143                                                   4,704                                                                      51,789                                                    31,418                                                   83,207
Reclamation and other costs                                                                      667                                            --                                                     117                                                                         784                                                       122                                                      906
Exploration                                                                                      926                                            --                                                   1,895                                518                                    3,339                                                     1,322                                                    4,661
Sustaining capital                                                                            10,360                                                     1,268                                                     391                                441                                   12,460                                                    12,419                                                   24,879
General and administrative                                                                                                                                                                 6,567                                    6,567                                                                        6,567  
                                                                                       -----------------------------------                     -------------------------------------                     ---------------------                                                       ----------------------------------                      -------------------------------------                     -----------------------------------
AISC, Before By-product Credits (1)                                                           57,895                                                     2,411                                                   7,107                                                                      74,939                                                    45,281                                                  120,220
By-product credits:
  Zinc                                                                                       (24,478 )                                                    (561 )                                                                                                                           (25,039 )                                                                                                          (25,039 )
  Gold                                                                                       (13,019 )                                                                                                          (7,593 )                                                                   (20,612 )                                                                                                          (20,612 )
  Lead                                                                                        (7,021 )                                                    (768 )                                                                                                                            (7,789 )                                                                                                           (7,789 )
  Silver                                                                                                                                                                                                                                                                    (164 )                                                   (164 )
                                                                                       -----------------------------------                     -------------------------------------                     ---------------------                                                       -----------------------------------                     ------------------------------------                      -----------------------------------
    Total By-product credits                                                                 (44,518 )                                                  (1,329 )                                                (7,593 )                                                                   (53,440 )                                                    (164 )                                                (53,604 )
                                                                                       ----------------------------------                      ------------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, After By-product Credits                                                         $  1,424                              $    (186 )                                              $ (2,889 )                                                                  $ (1,651 )                                              $   31,254                             $  29,603  
                                                                                       ====== ====== ====================                      ======= ======= ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================                      ====== ======= ====================
AISC, After By-product Credits                                                              $ 13,377                              $   1,082                             $   (486 )                                                                  $ 21,499                             $   45,117                             $  66,616  
                                                                                       ====== ====== ====================                      ======= ======= ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================                      ====== ======= ====================
Divided by ounces produced                                                                     2,146                                                        70                                                     760                                                                       2,976                                                        43
    Cash Cost, Before By-product Credits, per Ounce                                         $  21.41                                                 $   16.34                                                $   6.19                                                                    $  17.41                                                $   723.19
    By-product credits per ounce                                                              (20.75 )                                                  (18.99 )                                                 (9.99 )                                                                    (17.96 )                                                   (3.77 )
                                                                                       ----------------------------------                      ------------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------
    Cash Cost, After By-product Credits, per Ounce                                          $   0.66                              $   (2.65 )                                              $  (3.80 )                                                                  $  (0.55 )                                              $   719.42  
                                                                                       ====== ====== ====================                      ======= ======= ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================
    AISC, Before By-product Credits, per Ounce                                              $  26.98                                                 $   34.56                                                $   9.35                                                                    $  25.19                                                $ 1,042.28
    By-product credits per ounce                                                              (20.75 )                                                  (18.99 )                                                 (9.99 )                                                                    (17.96 )                                                   (3.77 )
                                                                                       ----------------------------------                      ------------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------
    AISC, After By-product Credits, per Ounce                                               $   6.23                              $   15.57                             $  (0.64 )                                                                  $   7.23                             $ 1,038.51  
                                                                                       ====== ====== ====================                      ======= ======= ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================
                                                                                                                                                                                                                                                                                                                                                                                                        
In thousands (except per ounce amounts)                                                                                                                                                                                    Three Months Ended December 31, 2016
                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                     Greens                                Lucky                          San           Corporate(3)                  Total                                 Casa                                   Total
                                                                                                      Creek                                                 Friday(2)                                        Sebastian                                                                           Silver                                                   Berardi
                                                                                                                                                                                                                                                                                                                                                          (Gold)
                                                                                       --------------------------------                        --------------------------------                        ------------------                        -----------                       --------------------------------                        ----------------------------------                        ---------------------------------
Cost of sales and other direct production costs and depreciation,                           $ 44,311                                                $ 19,514                                                $  7,798                                                                    $ 71,623                                                $   49,074                                                $ 120,697
depletion and amortization
Depreciation, depletion and amortization                                                     (14,649 )                                                (3,036 )                                                (1,274 )                                                                   (18,959 )                                                 (14,748 )                                                (33,707 )
Treatment costs                                                                               16,685                                                   4,954                                                     311                                                                      21,950                                                       637                                                   22,587
Change in product inventory                                                                    4,875                                                     (60 )                                                  (144 )                                                                     4,671                                                    (1,323 )                                                  3,348
Reclamation and other costs                                                                     (500 )                                                  (265 )                                                  (674 )                                                                    (1,439 )                                                    (117 )                                                 (1,556 )
                                                                                       ----------------------------------                      ----------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, Before By-product Credits (1)                                                      50,722                                                  21,107                                                   6,017                                                                      77,846                                                    33,523                                                  111,369
Reclamation and other costs                                                                      671                                                     225                                                     118                                                                       1,014                                                       113                                                    1,127
Exploration                                                                                      524                                                      76                                                   1,694                                372                                    2,666                                                     1,051                                                    3,717
Sustaining capital                                                                            11,847                                                   9,333                                                      46                                107                                   21,333                                                    17,466                                                   38,799
General and administrative                                                                                                                                                              13,312                                   13,312                                                                       13,312  
                                                                                       -----------------------------------                     -----------------------------------                     ---------------------                                                       ----------------------------------                      -------------------------------------                     -----------------------------------
AISC, Before By-product Credits (1)                                                           63,764                                                  30,741                                                   7,875                                                                     116,171                                                    52,153                                                  168,324
By-product credits:
  Zinc                                                                                       (24,606 )                                                (4,882 )                                                                                                                           (29,488 )                                                                                                          (29,488 )
  Gold                                                                                       (15,221 )                                                                                                        (8,706 )                                                                   (23,927 )                                                                                                          (23,927 )
  Lead                                                                                        (8,235 )                                                (9,671 )                                                                                                                           (17,906 )                                                                                                          (17,906 )
  Silver                                                                                                                                                                                                                                                                  (163 )                                                   (163 )
                                                                                       -----------------------------------                     -----------------------------------                     ---------------------                                                       -----------------------------------                     ------------------------------------                      -----------------------------------
    Total By-product credits                                                                 (48,062 )                                               (14,553 )                                                (8,706 )                                                                   (71,321 )                                                    (163 )                                                (71,484 )
                                                                                       ----------------------------------                      ----------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, After By-product Credits                                                         $  2,660                             $  6,554                             $ (2,689 )                                                                  $  6,525                             $   33,360                             $  39,885  
                                                                                       ====== ====== ====================                      ====== ====== ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================                      ====== ======= ====================
AISC, After By-product Credits                                                              $ 15,702                             $ 16,188                             $   (831 )                                                                  $ 44,850                             $   51,990                             $  96,840  
                                                                                       ====== ====== ====================                      ====== ====== ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================                      ====== ======= ====================
Divided by ounces produced                                                                     2,233                                                     874                                                     860                                                                       3,967                                                        42
    Cash Cost, Before By-product Credits, per Ounce                                         $  22.71                                                $  24.15                                                $   7.00                                                                    $  19.62                                                $   804.05
    By-product credits per ounce                                                              (21.52 )                                                (16.65 )                                                (10.12 )                                                                    (17.98 )                                                   (3.91 )
                                                                                       ----------------------------------                      ----------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------
    Cash Cost, After By-product Credits, per Ounce                                          $   1.19                             $   7.50                             $  (3.12 )                                                                  $   1.64                             $   800.14  
                                                                                       ====== ====== ====================                      ====== ====== ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================
    AISC, Before By-product Credits, per Ounce                                              $  28.55                                                $  35.17                                                $   9.15                                                                    $  29.29                                                $ 1,250.88
    By-product credits per ounce                                                              (21.52 )                                                (16.65 )                                                (10.12 )                                                                    (17.98 )                                                   (3.91 )
                                                                                       ----------------------------------                      ----------------------------------                      --------------------                                                        ----------------------------------                      ------------------------------------
    AISC, After By-product Credits, per Ounce                                               $   7.03                             $  18.52                             $  (0.97 )                                                                  $  11.31                             $ 1,246.97  
                                                                                       ====== ====== ====================                      ====== ====== ====================                      ====== ====== ======                                                        ====== ====== ====================                      ====== ======== ====================
                                                                                                                                                                                                                                                                                                                                                                                                      
In thousands (except per ounce amounts)                                                                                                                                                                                     Twelve Months Ended December 31, 2017
                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      Greens                                Lucky                          San           Corporate(3)                   Total                                 Casa                                   Total
                                                                                                       Creek                                                 Friday(2)                                        Sebastian                                                                            Silver                                                   Berardi
                                                                                                                                                                                                                                                                                                                                                            (Gold)
                                                                                       ---------------------------------                        --------------------------------                        ------------------                        -----------                       ---------------------------------                        ----------------------------------                        ---------------------------------
Cost of sales and other direct production costs and depreciation,                           $ 201,803                                                $ 15,107                                                $  23,700                                                                   $ 240,610                                                $  180,179                                                $ 420,789
depletion and amortization
Depreciation, depletion and amortization                                                      (56,328 )                                                (2,447 )                                                 (2,693 )                                                                   (61,468 )                                                 (54,594 )                                               (116,062 )
Treatment costs                                                                                47,774                                                   4,759                                                    1,185                                                                      53,718                                                     2,432                                                   56,150
Change in product inventory                                                                    (2,247 )                                                 1,853                                                      (55 )                                                                      (449 )                                                   1,466                                                    1,017
Reclamation and other costs                                                                    (2,716 )                                                  (115 )                                                 (1,467 )                                                                    (4,298 )                                                    (476 )                                                 (4,774 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, Before By-product Credits (1)                                                      188,286                                                  19,157                                                   20,670                                                                     228,113                                                   129,007                                                  357,120
Reclamation and other costs                                                                     2,666                                                     217                                                      468                                                                       3,351                                                       475                                                    3,826
Exploration                                                                                     4,265                                                      (1 )                                                  6,879                             1,825                                    12,968                                                     4,351                                                   17,319
Sustaining capital                                                                             35,255                                                   5,377                                                    2,770                             2,716                                    46,118                                                    50,664                                                   96,782
General and administrative                                                                                                                                                               35,611                                    35,611                                                                       35,611  
                                                                                       ------------------------------------                     -----------------------------------                     ---------------------                                                       -----------------------------------                      -------------------------------------                     -----------------------------------
AISC, Before By-product Credits (1)                                                           230,472                                                  24,750                                                   30,787                                                                     326,161                                                   184,497                                                  510,658
By-product credits:
  Zinc                                                                                        (96,950 )                                                (4,914 )                                                                                                                           (101,864 )                                                                                                         (101,864 )
  Gold                                                                                        (55,694 )                                                                                                        (31,625 )                                                                   (87,319 )                                                                                                          (87,319 )
  Lead                                                                                        (29,717 )                                                (9,367 )                                                                                                                            (39,084 )                                                                                                          (39,084 )
  Silver                                                                                                                                                                                                                                                                    (614 )                                                   (614 )
                                                                                       ------------------------------------                     -----------------------------------                     ---------------------                                                       ------------------------------------                     ------------------------------------                      -----------------------------------
    Total By-product credits                                                                 (182,361 )                                               (14,281 )                                                (31,625 )                                                                  (228,267 )                                                    (614 )                                               (228,881 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, After By-product Credits                                                         $   5,925                             $  4,876                             $ (10,955 )                                                                 $    (154 )                                              $  128,393                             $ 128,239  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================                      ====== ======= ====================
AISC, After By-product Credits                                                              $  48,111                             $ 10,469                             $    (838 )                                                                 $  97,894                             $  183,883                             $ 281,777  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================                      ====== ======= ====================
Divided by ounces produced                                                                      8,352                                                     839                                                    3,258                                                                      12,449                                                       157
    Cash Cost, Before By-product Credits, per Ounce                                         $   22.54                                                $  22.83                                                $    6.35                                                                   $   18.33                                                $   823.52
    By-product credits per ounce                                                               (21.83 )                                                (17.02 )                                                  (9.71 )                                                                    (18.34 )                                                   (3.92 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------
    Cash Cost, After By-product Credits, per Ounce                                          $    0.71                             $   5.81                             $   (3.36 )                                                                 $   (0.01 )                                              $   819.60  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================
    AISC, Before By-product Credits, per Ounce                                              $   27.59                                                $  29.50                                                $    9.45                                                                   $   26.20                                                $ 1,177.74
    By-product credits per ounce                                                               (21.83 )                                                (17.02 )                                                  (9.71 )                                                                    (18.34 )                                                   (3.92 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------
    AISC, After By-product Credits, per Ounce                                               $    5.76                             $  12.48                             $   (0.26 )                                                                 $    7.86                             $ 1,173.82  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================
                                                                                                                                                                                                                                                                                                                                                                                                        
In thousands (except per ounce amounts)                                                                                                                                                                                     Twelve Months Ended December 31, 2016
                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      Greens                                Lucky                          San           Corporate(3)                   Total                                 Casa                                   Total
                                                                                                       Creek                                                 Friday(2)                                        Sebastian                                                                            Silver                                                   Berardi
                                                                                                                                                                                                                                                                                                                                                            (Gold)
                                                                                       ---------------------------------                        --------------------------------                        ------------------                        -----------                       ---------------------------------                        ----------------------------------                        ---------------------------------
Cost of sales and other direct production costs and depreciation,                           $ 191,297                                                $ 76,210                                                $  31,233                                                                   $ 298,740                                                $  155,711                                                $ 454,451
depletion and amortization
Depreciation, depletion and amortization                                                      (53,222 )                                               (11,810 )                                                 (3,782 )                                                                   (68,814 )                                                 (47,312 )                                               (116,126 )
Treatment costs                                                                                62,754                                                  20,277                                                    1,504                                                                      84,535                                                     1,264                                                   85,799
Change in product inventory                                                                    (1,208 )                                                (1,162 )                                                  1,599                                                                        (771 )                                                   2,890                                                    2,119
Reclamation and other costs                                                                    (2,327 )                                                  (822 )                                                 (2,257 )                                                                    (5,406 )                                                    (459 )                                                 (5,865 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, Before By-product Credits (1)                                                      197,294                                                  82,693                                                   28,297                                                                     308,284                                                   112,094                                                  420,378
Reclamation and other costs                                                                     2,716                                                     720                                                      244                                                                       3,680                                                       458                                                    4,138
Exploration                                                                                     1,892                                                      76                                                    4,043                             1,658                                     7,669                                                     3,331                                                   11,000
Sustaining capital                                                                             47,046                                                  41,536                                                    1,540                               593                                    90,715                                                    66,326                                                  157,041
General and administrative                                                                                                                                                               45,040                                    45,040                                                                       45,040  
                                                                                       ------------------------------------                     -----------------------------------                     ---------------------                                                       -----------------------------------                      -------------------------------------                     -----------------------------------
AISC, Before By-product Credits (1)                                                           248,948                                                 125,025                                                   34,124                                                                     455,388                                                   182,209                                                  637,597
By-product credits:
  Zinc                                                                                        (76,710 )                                               (15,567 )                                                                                                                            (92,277 )                                                                                                          (92,277 )
  Gold                                                                                        (57,238 )                                                                                                        (42,667 )                                                                   (99,905 )                                                                                                          (99,905 )
  Lead                                                                                        (27,833 )                                               (35,156 )                                                                                                                            (62,989 )                                                                                                          (62,989 )
  Silver                                                                                                                                                                                                                                                                    (572 )                                                   (572 )
                                                                                       ------------------------------------                     -----------------------------------                     ---------------------                                                       ------------------------------------                     ------------------------------------                      -----------------------------------
    Total By-product credits                                                                 (161,781 )                                               (50,723 )                                                (42,667 )                                                                  (255,171 )                                                    (572 )                                               (255,743 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, After By-product Credits                                                         $  35,513                             $ 31,970                             $ (14,370 )                                                                 $  53,113                             $  111,522                             $ 164,635  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================                      ====== ======= ====================
AISC, After By-product Credits                                                              $  87,167                             $ 74,302                             $  (8,543 )                                                                 $ 200,217                             $  181,637                             $ 381,854  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================                      ====== ======= ====================
Divided by ounces produced                                                                      9,254                                                   3,596                                                    4,294                                                                      17,144                                                       146
    Cash Cost, Before By-product Credits, per Ounce                                         $   21.32                                                $  23.00                                                $    6.59                                                                   $   17.98                                                $   767.90
    By-product credits per ounce                                                               (17.48 )                                                (14.11 )                                                  (9.94 )                                                                    (14.88 )                                                   (3.92 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------
    Cash Cost, After By-product Credits, per Ounce                                          $    3.84                             $   8.89                             $   (3.35 )                                                                 $    3.10                             $   763.98  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================
    AISC, Before By-product Credits, per Ounce                                              $   26.90                                                $  34.77                                                $    7.95                                                                   $   26.56                                                $ 1,248.22
    By-product credits per ounce                                                               (17.48 )                                                (14.11 )                                                  (9.94 )                                                                    (14.88 )                                                   (3.92 )
                                                                                       -----------------------------------                      ----------------------------------                      --------------------                                                        -----------------------------------                      ------------------------------------
    AISC, After By-product Credits, per Ounce                                               $    9.42                             $  20.66                             $   (1.99 )                                                                 $   11.68                             $ 1,244.30  
                                                                                       ====== ======= ====================                      ====== ====== ====================                      ====== ======= =====                                                        ====== ======= ====================                      ====== ======== ====================
                                                                                                                                                                                                                                                                                                                                                                                                        
In thousands (except per ounce amounts)                                                                                                                                                                                           Estimate for the Twelve Months Ended December 31, 2018
                                                                                       ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      Greens                                      Lucky                                     San                      Corporate(3)                      Total                                Casa                                   Total
                                                                                                       Creek                                                        Friday                                                     Sebastian                                                                                          Silver                                                  Berardi
                                                                                                                                                                                                                                                                                                                                                                                          (Gold)
                                                                                       ----------------------------------                        -----------------------------------------                        --------------------------------                        -------------------                       -------------------------------                        ----------------------------------                        ---------------------------------
Cost of sales and other direct production costs and depreciation,                            $ 198,000                                                 $ --                                                $ 44,000                                                                                        $ 242,000                                                 $ 185,000                                                $ 427,000
depletion and amortization
Depreciation, depletion and amortization                                                       (50,000 )                                                 --                                                  (6,000 )                                                                                        (56,000 )                                                 (58,000 )                                               (114,000 )
Treatment costs                                                                                 44,000                                                   --                                                     550                                                                                           44,550                                                       400                                                   44,950
Change in product inventory                                                             --                                                   --                                                  (1,000 )                                                                                         (1,000 )                                          --                                                   (1,000 )
Reclamation and other costs                                                                     (2,900 )                                                 --                                 (500 )                                                                                         (3,400 )                                                    (800 )                                                 (4,200 )
                                                                                       ------------------------------------                      -------------------------------------------                      ----------------------------------                                                                ---------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, Before By-product Credits (1)                                                       189,100                                                   --                                                  37,050                                                                                          226,150                                                   126,600                                                  352,750
Reclamation and other costs                                                                      2,500                                                   --                                                     240                                                                                            2,740                                                       450                                                    3,190
Exploration                                                                                      3,500                                                   --                                                   4,800                                                2,500                                      10,800                                                     5,000                                                   15,800
Sustaining capital                                                                              51,000                                                   --                                                   3,700                                                2,000                                      56,700                                                    45,000                                                  101,700
General and administrative                                                                                                            --                                                                 35,000                                      35,000                         --                                35,000  
                                                                                       -------------------------------------                     -------------------------------------------                      -----------------------------------                                                               ---------------------------------                      ------------------------------------                      -----------------------------------
AISC, Before By-product Credits (1)                                                            246,100                                --                               45,790                                                                       331,390                                177,050                               508,440  
                                                                                       ------------------------------------                      -------------------------------------------                      ----------------------------------                                                                ---------------------------------                      ------------------------------------                      -----------------------------------
By-product credits                                                                            (186,000 )                                                 --                              (18,000 )                              (204,000 )                                                    (800 )                                               (204,800 )
                                                                                       ------------------------------------                      -------------------------------------------                      ---------------------------------- -------------------- ----------------------------------------- ---------------------------------                      ------------------------------------                      -----------------------------------
Cash Cost, After By-product Credits                                                          $   3,100                              $ --                             $ 19,050                                                                     $  22,150                              $ 125,800                             $ 147,950  
                                                                                       ======= ======= ====================                      ======= ============== ====================                      ====== ====== ====================                                                                ==== ======= ====================                      ======= ======= ====================                      ====== ======= ====================
AISC, After By-product Credits                                                               $  60,100                              $ --                             $ 27,790                                                                     $ 127,390                              $ 176,250                             $ 303,640  
                                                                                       ======= ======= ====================                      ======= ============== ====================                      ====== ====== ====================                                                                ==== ======= ====================                      ======= ======= ====================                      ====== ======= ====================
Divided by ounces produced                                                                       7,750                                                   --                                                   2,250                                                                                           10,000                                                       158
    Cash Cost, Before By-product Credits, per Ounce                                          $   24.40                                                                                                                 $  16.47                                                                                        $   22.62                                                 $     801
    By-product credits per ounce                                                                (24.00 )                                                                                               (8.00 )                                                                                         (20.40 )                                                      (5 )
                                                                                       ------------------------------------                      --------------------------------------------                     ----------------------------------                                                                ---------------------------------                      ------------------------------------
    Cash Cost, After By-product Credits, per Ounce                                           $    0.40                              $ --                             $   8.47                                                                     $    2.22                              $     796  
                                                                                       ======= ======= ====================                      ======= ============== ====================                      ====== ====== ====================                                                                ==== ======= ====================                      ======= ======= ====================
    AISC, Before By-product Credits, per Ounce                                               $   31.75                                                                                                                 $  20.35                                                                                        $   33.14                                                 $   1,121
    By-product credits per ounce                                                                (24.00 )                                                                                               (8.00 )                                                                                         (20.40 )                                                      (5 )
                                                                                       ------------------------------------                      --------------------------------------------                     ----------------------------------                                                                ---------------------------------                      ------------------------------------
    AISC, After By-product Credits, per Ounce                                                $    7.75                              $ --                             $  12.35                                                                     $   12.74                              $   1,116  
                                                                                       ======= ======= ====================                      ======= ============== ====================                      ====== ====== ====================                                                                ==== ======= ====================                      ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                      
(1)   Includes all direct and indirect operating costs related to the
                         physical activities of producing metals, including mining,
                         processing and other plant costs, third-party refining and marketing
                         expense, on-site general and administrative costs, royalties and
                         mining production taxes, before by-product revenues earned from all
                         metals other than the primary metal produced at each unit. AISC,
                         Before By-product Credits also includes on-site exploration,
                         reclamation, and sustaining capital costs.
                          
(2)                      The unionized employees at Lucky Friday have been on strike since
                         March 13, 2017, and production at Lucky Friday has been limited
                         since that time. For the first nine months of 2017, costs related to
                         suspension of full production totaling approximately $11.1 million,
                         along with $3.3 million in non-cash depreciation expense for that
                         period, have been excluded from the calculations of cost of sales
                         and other direct production costs and depreciation, depletion and
                         amortization, Cash Cost, Before By-product Credits, Cash Cost, After
                         By-product Credits, AISC, Before By-product Credits, and AISC, After
                         By-product Credits.
                          
(3)                      AISC, Before By-product Credits for our consolidated silver
                         properties includes corporate costs for general and administrative
                         expense, exploration and sustaining capital.
                          

Reconciliation of Net Income (Loss) Applicable to Common Shareholders (GAAP) to Adjusted Net Income (Loss) Applicable to Common Shareholders (non-GAAP)

This release refers to a non-GAAP measure of adjusted net income (loss) applicable to common stockholders and adjusted net income (loss) per share, which are indicators of our performance. They exclude certain impacts which are of a nature which we believe are not reflective of our underlying performance. Management believes that adjusted net income (loss) per common share provides investors with the ability to better evaluate our underlying operating performance.

Dollars in thousands (except per share amounts)                                                           Three Months Ended                                                                               Twelve Months Ended
                                                                                                                                December 31,                                                                                                        December 31,
                                                                                       ----------------------------------------------------------------------------------------       -------------------- ----------------------------------------------------------------------------------------
                                                                                                       2017                                   2016                                   2017                                   2016
                                                                                       --------------------------------------------------------- --------------------------------------------------------- --------------------------------------------------------- -------------------------------------
Net income applicable to common stockholders (GAAP)                                          $ (27,887 )                            $  20,124                              $ (24,071 )                            $  68,995
Adjusting items:
  Loss (gain) on derivatives contracts                                                           4,702                                                    (4,423 )                                                  21,250                                                    (4,423 )
  Provisional price (gain) loss                                                                   (178 )                                                   1,294                                                      (742 )                                                     918
  Lucky Friday suspension costs                                                                  6,916                                            --                                                    21,301                                            --
  Environmental accruals                                                                --                                            --                                            --                                                     1,351
  Foreign exchange (gain) loss                                                                    (609 )                                                  (4,787 )                                                  10,300                                                     2,926
  Acquisition costs                                                                     --                                                       528                                                        25                                                     2,695
  Bond offering costs                                                                   --                                            --                                                       887                                            --
  (Gain) loss on disposition of properties, plants, equipment and                               (1,118 )                                                     172                                                    (6,042 )                                                    (147 )
  mineral interests
  Change in deferred tax asset valuation allowance                                              33,421                                                    (2,618 )                                                  15,935                                                   (11,568 )
  Income tax effect of above adjustments                                                --                                  1,040                         --                                   (216 )
                                                                                       ------------------------------------                      ------------------------------------                      ------------------------------------                      ------------------------------------
Adjusted net income applicable to common stockholders                                        $  15,247                              $  11,330                              $  38,843                              $  60,531  
                                                                                       ======= ======= ====================                      ======= ======= ====================                      ======= ======= ====================                      ======= ======= ====================
  Weighted average shares - basic                                                              399,133                                                   395,229                                                   397,394                                                   386,416
  Weighted average shares - diluted                                                            401,606                                                   397,717                                                   397,394                                                   389,322
  Basic adjusted net income (loss) per common share                                          $    0.04                                                 $    0.03                                                 $    0.10                                                 $    0.16
  Diluted adjusted net income (loss) per common share                                        $    0.04                                                 $    0.03                                                 $    0.10                                                 $    0.16
                                                                                                                                                                                                                                                                                      

Reconciliation of Net Income (Loss) (GAAP) and Debt (GAAP) to Adjusted EBITDA (non-GAAP) and Net Debt (non-GAAP)

This release refers to the non-GAAP measures of adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), which is a measure of our operating performance, and net debt to adjusted EBITDA for the last 12 months (or "LTM adjusted EBITDA"), which is a measure of our ability to service our debt. Adjusted EBITDA is calculated as net income (loss) before the following items: interest expense, income tax provision, depreciation, depletion, and amortization expense, exploration expense, pre-development expense, acquisition costs, interest and other income (expense), foreign exchange gains and losses, gains and losses on derivative contracts, unrealized gains on investments, provisions for environmental matters, stock-based compensation, and provisional price gains and losses. Net debt is calculated as total debt, which consists of the liability balances for our Senior Notes, capital leases, and other notes payable, less the total of our cash and cash equivalents and short-term investments. Management believes that, when presented in conjunction with comparable GAAP measures, adjusted EBITDA and net debt to LTM adjusted EBITDA are useful to investors in evaluating our operating performance and ability to meet our debt obligations. The following table reconciles net income (loss) and debt to adjusted EBITDA and net debt:

 Dollars are in thousands                                                                               Three Months Ended                                                                              Twelve Months Ended
                                                                                     ------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------
                                                                                                 December 31,                           December 31,                          December 31,                         December 31,
                                                                                                     2017                                                      2016                                                     2017                                                    2016
                                                                                     ----------------------------------   -------------------- ----------------------------------   -------------------- -------------------------------   -------------------- ----------------------------------
Net income (loss)                                                                          $ (27,749 )                            $  20,262                           $ (23,519 )                            $  69,547
Plus: Interest expense, net of amount capitalized                                              9,589                                                     5,141                                                 38,012                                                    21,796
Plus (Less): Income taxes                                                                     38,256                                                     4,825                                                 19,879                                                    27,428
Plus: Depreciation, depletion and amortization                                                32,697                                                    33,707                                                116,062                                                   116,126
Plus: Exploration expense                                                                      5,888                                                     4,549                                                 23,510                                                    14,720
Plus: Pre-development expense                                                                  1,387                                                     1,662                                                  5,448                                                     3,137
Plus: Acquisition costs                                                               --                                                       528                                                     25                                                     2,695
Plus: Lucky Friday suspension-related costs                                                    6,916                                            --                                                 21,301                                            --
Less: Gain on disposition of properties, plants, equipment, and                               (1,118 )                                                     172                                                 (6,042 )                                                    (147 )
mineral interests
Plus/(Less): Foreign exchange (gain) loss                                                       (609 )                                                  (4,787 )                                               10,300                                                     2,926
Plus/(Less): (Gain) loss on derivative contracts                                               4,702                                                    (4,423 )                                               21,250                                                    (4,423 )
Plus/(Less): Provisional price (gain) loss                                                      (178 )                                                   1,294                                                   (742 )                                                     918
Plus: Provision for closed operations and environmental matters                                1,129                                                     1,128                                                  4,508                                                     4,813
Plus: Stock-based compensation                                                                 1,380                                                     1,370                                                  6,331                                                     5,932
Plus: Unrealized loss on investments                                                             174                                                       665                                                    247                                                       177
Less: Other                                                                                     (508 )                                                    (161 )                                               (1,526 )                                                    (507 )
                                                                                     ------------------------------------                      ------------------------------------                      ---------------------------------                      ------------------------------------
Adjusted EBITDA                                                                            $  71,956                              $  65,932                           $ 235,044                              $ 265,138  
                                                                                     ======= ======= ====================                      ======= ======= ====================                      ==== ======= ====================                      ======= ======= ====================
Total debt                                                                                                                                                                                                  $ 514,030                                                 $ 512,940
Less: Cash, cash equivalents and short-term investments                                                                                                                                                       219,865                                198,894  
                                                                                                                                                                                                         ---------------------------------                      ------------------------------------
Net debt                                                                                                                                                                                                    $ 294,165                              $ 314,046  
                                                                                                                                                                                                         ==== ======= ====================                      ======= ======= ====================
Net debt/LTM adjusted EBITDA (non-GAAP)                                                                                                                                                                           1.3                                                       1.2
                                                                                                                                                                                                                                                                                 

Reconciliation of Cash Provided by Operating Activities (GAAP) to Free Cash Flow (non-GAAP)

This release refers to a non-GAAP measure of free cash flow, calculated as cash provided by operating activities, less additions to properties, plants, equipment and mineral interests and a one-time item for settlement of an insurance policy for reclamation of the Troy Mine. Management believes that, when presented in conjunction with comparable GAAP measures, free cash flow is useful to investors in evaluating our operating performance. The following table reconciles cash provided by operating activities to free cash flow:

                                                                                                                                                                        Hecla Consolidated                                                                                                                  Greens                                  Casa                                  San                                 Lucky
                                                                                                                                                                                                                                                                                                                                                   Creek                                                    Berardi                                                Sebastian                                              Friday (1)
                                                                                           ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                    ----------------------------------                        ----------------------------------                        ------------------------------                        ----------------------------------
 Dollars are in thousands                                                                                                        Three Months Ended                                                                               Twelve Months Ended
                                                                                                                                    December 31,                                                                                     December 31,                                                                                                                                          
                                                                                           ----------------------------------------------------------------------------------------       -------------------- ----------------------------------------------------------------------------------------       --------------------
                                                                                                           2017                                   2016                                   2017                                   2016                                                                                                        Twelve Months Ended December 31, 2017
                                                                                           --------------------------------------------------------- --------------------------------------------------------- --------------------------------------------------------- --------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Cash provided (used) by operating activities                                                     $  41,763                              $  52,214                                                 $ 115,878                              $ 225,328                                                 $ 136,654                                                 $  69,793                                              $ 62,378                                                 $  (7,780 )
Less: Additions to properties, plants equipment and mineral interests                              (27,648 )                                                 (44,552 )                                                 (98,038 )                                                (164,788 )                                                 (35,255 )                                                 (50,668 )                                             (11,239 )                                                  (6,268 )
Less: Care and maintenance related costs                                 --                                            --                                            --                                            --                                            --                                            --                                                             --                              (17,082 )
Less: Troy reclamation insurance settlement                                                 --                         --                         --                                (16,000 )                       --      --                       --    --  
                                                                                           --------------  --------------------                      --------------  --------------------                      --------------  --------------------                      --------------  -------------------- -------------------- --------------  -------------------- -------------------- --------------  -------------------- -------------------- ------------------------------   -------------------- --------------  --------------------
Free cash flow                                                                                   $  14,115                              $   7,662                              $  17,840                              $  44,540           $ 101,399           $  19,125        $ 51,139           $ (15,570 )
                                                                                           ======= ======= ====================                      ======= ======= ====================                      ======= ======= ====================                      ======= ======= ==================== ==================== ======= ======= ==================== ==================== ======= ======= ==================== ==================== ==== ====== ==================== ==================== ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
(1)   Cash used by operating activities for Lucky Friday includes $17.1
                         million for suspension costs incurred during the strike.
                          
                                                                                                                                                                                                                                Reserves - 12/31/17(1)
 
                                                                                                                                                                                                                                     Proven Reserves
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                               Tons                  Silver                  Gold                   Lead                   Zinc                  Copper                 Silver                  Gold                   Lead                   Zinc                  Copper
Asset                                 (000)         (oz/ton)               (oz/ton)                   %                      %                      %                  (000 oz)               (000 oz)                 Tons                   Tons                   Tons
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek (2)                          7                   12.2                   0.09                    2.4                    6.1                      -                     89                      1                    170                    440                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday (2)                      4,246                   15.4                      -                    9.6                    4.1                      -                 65,448                      -                407,520                175,400                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi (3)                      2,458                      -                   0.13                      -                      -                      -                      -                    312                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian (2)                        31                   23.3                   0.19                      -                      -                      -                    712                      6                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total                                 6,742                                     66,249                    319                407,690                175,840                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                             
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Probable Reserves
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                  Tons                                     Silver                                     Gold                                      Lead                                      Zinc                                     Copper                                    Silver                                     Gold                                      Lead                                      Zinc                                     Copper
Asset                                 (000)         (oz/ton)               (oz/ton)                   %                      %                      %                  (000 oz)               (000 oz)                 Tons                   Tons                   Tons
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek (2)                      7,543                   11.9                   0.10                    3.0                    8.1                      -                 90,130                    725                224,880                614,390                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday (2)                      1,387                   11.4                      -                    7.6                    3.7                      -                 15,815                      -                104,720                 50,640                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi (3)                     11,413                      -                   0.10                      -                      -                      -                      -                  1,181                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian (2)                       368                   13.1                   0.10                      -                      -                      -                  4,809                     37                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total                                20,709                                    110,754                  1,943                329,600                665,030                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                             
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                   Proven and Probable Reserves
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                  Tons                                     Silver                                     Gold                                      Lead                                      Zinc                                     Copper                                    Silver                                     Gold                                      Lead                                      Zinc                                     Copper
Asset                                 (000)         (oz/ton)               (oz/ton)                   %                      %                      %                  (000 oz)               (000 oz)                 Tons                   Tons                   Tons
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek (2)                      7,550                   11.9                   0.10                    3.0                    8.1                      -                 90,219                    725                225,050                614,840                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday (2)                      5,632                   14.4                      -                    9.1                    4.0                      -                 81,264                      -                512,240                226,030                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi (3)                     13,871                      -                   0.11                      -                      -                      -                      -                  1,494                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian (2)                       398                   13.9                   0.11                      -                      -                      -                  5,520                     43                      -                      -                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total                                27,451                                    177,003                  2,262                737,290                840,870                      -
-------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
(1) The term "reserve" means that part of a mineral
deposit that can be economically and legally extracted or produced
at the time of the reserve determination. The term "economically,"
as used in the definition of reserve, means that profitable
extraction or production has been established or analytically
demonstrated to be viable and justifiable under reasonable
investment and market assumptions. The term "legally," as used in
the definition of reserve, does not imply that all permits needed
for mining and processing have been obtained or that other legal
issues have been completely resolved. However, for a reserve to
exist, Hecla must have a justifiable expectation, based on
applicable laws and regulations, that issuance of permits or
resolution of legal issues necessary for mining and processing at
a particular deposit will be accomplished in the ordinary course
and in a timeframe consistent with Hecla’s current mine plans.
(2) Mineral reserves are based on $1200 gold, $14.50
silver, $0.90 lead, $1.05 zinc, unless otherwise stated.
(3) Mineral reserves are based on $1200 gold, and a
US$/CAN$ exchange rate of 1:1.37. Reserve diluted to an average of
34.7% to minimum width of 9.8 feet (3 m).
Reserves at Casa Berardi were determined by Jonathan
Archambault-Giroux, P. Geo., Que., Real Parent, P.Geo. Que., Sylvain
Picard, P. Eng., Que. and Alain Quenneville, P. Eng., Que. unless
otherwise stated.
Open pit mineral reserves of the Principal Mine were estimated in
February 2011 by BBA Inc. based on $950 gold and a US$/CAN$ exchange
rate of 1:1. Reserve diluted to 10%.
        Technical Report on the Pre-Feasibility Study for the Casa
        Berardi Principal Zone Open-Pit Project, La Sarre, Quebec, February
        2011
        Prepared by: Patrice Live, Eng. - BBA Inc.; Amanda Fitch, Jr.
        Eng. - BBA Inc.; Andre Allaire, Eng., M. Eng., Ph.D. - BBA
Open pit mineral reserves of the 160 and 134 Zones were estimated in
January 2018 by Hecla Quebec and Mine Development Associates based
on $1225 gold and a US$/CAN$ exchange rate of 1.3.
        Hecla Mining, Casa Berardi 160 and 134 Zones, Open Pit Mining
        Study - 2017
        January 12, 2018, by Mine Development Associates, Thomas L. Dyer,
        P.E.
 
                                                                                                                                                                                                                                     Resources - 12/31/17
                                                                                                                                                                             
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Measured Resources
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                 Tons                         Silver                                Gold                                 Lead                                 Zinc                                Copper                               Silver                                Gold                                        Lead                                 Zinc                  Copper
Asset                            (000)                       (oz/ton)                             (oz/ton)                                 %                                    %                                    %                                (000 oz)                             (000 oz)                                      Tons                                 Tons                   Tons
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Greens Creek (4)                          341                                  9.1                                 0.09                                  2.4                                  8.3                                    -                                3,086                                   30                                              8,090                 28,420    
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Lucky Friday (4,5)                      7,371                                  7.6                                    -                                  4.9                                  2.7                                    -                               55,947                                    -                                            361,590                200,280                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Casa Berardi (6)                        2,210                                    -                                 0.17                                    -                                    -                                    -                                    -                                  319                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
San Sebastian (4,7)                         -                                    -                                    -                                    -                                    -                                    -                                    -                                    -                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Heva (8)                                5,480                                    -                                 0.06                                    -                                    -                                    -                                    -                                  304                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Hosco (8)                              33,070                                    -                                 0.04                                    -                                    -                                    -                                    -                                1,296                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Rio Grande Silver (9)                       -                                    -                                    -                                    -                                    -                                    -                                    -                                    -                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Star (4,10)                                 -                                    -                                    -                                    -                                    -                                    -                                    -                                    -                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Total                                  48,471                                                                                                                         59,032                                1,948                                            369,680                228,700                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                             
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Indicated Resources
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                    Tons                                            Silver                                                   Gold                                                    Lead                                                    Zinc                                                   Copper                                                  Silver                                                   Gold                                                           Lead                                                    Zinc                                     Copper
Asset                            (000)                       (oz/ton)                             (oz/ton)                                 %                                    %                                    %                                (000 oz)                             (000 oz)                                      Tons                                 Tons                   Tons
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Greens Creek (4)                        2,464                                 11.4                                 0.09                                  2.9                                  7.6                                    -                               28,211                                  229                                             72,120                187,060                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Lucky Friday (4,5)                      2,344                                  8.2                                    -                                  5.3                                  2.5                                    -                               19,202                                    -                                            123,120                 58,160                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Casa Berardi (6)                       11,037                                    -                                 0.10                                    -                                    -                                    -                                    -                                1,055                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
San Sebastian (4,7)                     1,506                                  5.8                                 0.07                                  2.9                                  3.8                                  1.7                                8,796                                  103                                             15,520                 20,350                  9,020
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Heva (8)                                5,570                                    -                                 0.07                                    -                                    -                                    -                                    -                                  369                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Hosco (8)                              31,620                                    -                                 0.04                                    -                                    -                                    -                                    -                                1,151                                                  -                      -                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Rio Grande Silver (9)                     516                                 14.8                                    -                                  2.1                                  1.1                                    -                                7,620                                    -                                             10,760                  5,820                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Star (4,10)                             1,126                                  2.9                                    -                                  6.2                                  7.4                                    -                                3,301                                    -                                             69,900                 83,410                      -
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
Total                                  56,182                                                                                                                         67,128                                2,907                                            291,420                354,800                  9,020
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                             
---------------------- -------------------- -------------------- -------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- --------------------------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Measured & Indicated Resources
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                  Tons                                       Silver                                Gold                                 Lead                                 Zinc                                Copper                               Silver                                Gold                          Lead                                      Zinc                                     Copper
Asset                                          (000)                                     (oz/ton)                             (oz/ton)                                 %                                    %                                    %                                (000 oz)                             (000 oz)                        Tons                   Tons                   Tons
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek (4)                                                    2,805                                 11.2                                 0.09                                  2.9                                  7.7                                    -                               31,296                                  259                 80,210                215,480                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday (4,5)                                                  9,715                                  7.7                                    -                                  5.0                                  2.7                                    -                               75,148                                    -                484,700                258,430                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi (6)                                                   13,246                                    -                                 0.10                                    -                                    -                                    -                                    -                                1,373                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian (4,7)                                                 1,506                                  5.8                                 0.07                                  2.9                                  3.8                                  1.7                                8,796                                  103                 15,520                 20,350                  9,020
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Heva (8)                                                           11,050                                    -                                 0.06                                    -                                    -                                    -                                    -                                  672                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Hosco (8)                                                          64,690                                    -                                 0.04                                    -                                    -                                    -                                    -                                2,447                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Rio Grande Silver (9)                                                 516                                 14.8                                    -                                  2.1                                  1.1                                    -                                7,620                                    -                 10,760                  5,820                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Star (4,10)                                                         1,126                                  2.9                                    -                                  6.2                                  7.4                                    -                                3,301                                    -                 69,900                 83,410                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total                                                             104,653                                                                                                                        126,161                                4,854                661,090                583,490                  9,020
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                             
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Inferred Resources
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                  Tons                                                          Silver                                                   Gold                                                    Lead                                                    Zinc                                                   Copper                                                  Silver                                                   Gold                                             Lead                                      Zinc                                     Copper
Asset                                                               (000)                (oz/ton)                             (oz/ton)                                 %                                    %                                    %                                (000 oz)                             (000 oz)                        Tons                   Tons                   Tons
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Greens Creek (4)                                                    2,708                                 12.1                                 0.08                                  2.7                                  6.9                                    -                               32,711                                  222                 73,350                185,660                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Lucky Friday (4,11)                                                 2,820                                  8.7                                    -                                  6.3                                  2.7                                    -                               24,646                                    -                178,970                 75,270                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Casa Berardi (6)                                                    6,980                                    -                                 0.10                                    -                                    -                                    -                                    -                                  717                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
San Sebastian (4,12)                                                2,915                                  5.5                                 0.03                                  1.8                                  2.5                                  1.5                               15,978                                   95                 23,660                 33,770                 19,520
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Heva (8)                                                            4,210                                    -                                 0.08                                    -                                    -                                    -                                    -                                  350                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Hosco (8)                                                           7,650                                    -                                 0.04                                    -                                    -                                    -                                    -                                  314                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Rio Grande Silver (13)                                              3,078                                 10.7                                 0.01                                  1.3                                  1.1                                    -                               33,097                                   36                 40,990                 34,980                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Star (4,14)                                                         3,157                                  2.9                                    -                                  5.6                                  5.5                                    -                                9,432                                    -                178,670                174,450                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Monte Cristo (15)                                                     913                                  0.3                                 0.14                                    -                                    -                                    -                                  271                                  131                      -                      -                      -
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Rock Creek (16)                                                   100,086                                  1.5                                    -                                    -                                    -                                  0.7                              148,736                                    -                      -                      -                658,680
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Montanore (17)                                                    112,185                                  1.6                                    -                                    -                                    -                                  0.7                              183,346                                    -                      -                      -                759,420
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total                                                             246,701                                                                                                                        448,217                                1,865                495,640                504,130              1,437,620
---------------------- -------------------- --------------------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- ------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
Note: All estimates are in-situ except for the proven reserves at
Greens Creek and San Sebastian which are in surface stockpiles.
Resources are exclusive of reserves.
 
(4) Mineral resources are based on $1350 gold, $21
silver, $0.95 lead, $1.10 zinc and $3.00 copper, unless otherwise
stated.
(5) Measured and indicated resources from Gold Hunter
and Lucky Friday vein systems are diluted and factored for
expected mining recovery.
(6) Measured, indicated and inferred resources are based
on $1350 gold and a US$/CAN$ exchange rate of 1:1.37. Underground
resources are reported at a minimum mining width of 6.6 to 9.8 feet
(2 m to 3 m).
Resources at Casa Berardi were determined by Jonathan
Archambault-Giroux, P. Geo., Que., Real Parent, P.Geo. Que., Sylvain
Picard, P. Eng., Que. and Alain Quenneville, P. Eng., Que. unless
otherwise stated.
Open pit mineral resources of the Principal Mine were estimated in
February 2011 by BBA Inc. based on $950 gold and a US$/CAN$ exchange
rate of 1:1.
        Technical Report on the Pre-Feasibility Study for the Casa
        Berardi Principal Zone Open-Pit Project, La Sarre, Quebec, February
        2011
        Prepared by: Patrice Live, Eng. - BBA Inc.; Amanda Fitch, Jr.
        Eng. - BBA Inc.; Andre Allaire, Eng., M. Eng., Ph.D. - BBA
(7) Indicated resources reported at a minimum mining
width of 6.6 feet (2 m) for Hugh Zone and 4.9 feet (1.5 m) for
Andrea Vein, Middle Vein, and North Vein. East Francine resources
reported at actual vein width.
       San Sebastian lead, zinc and copper grades are for 531,900 tons of
       indicated resource within the Middle Vein and the Hugh Zone of the
       Francine Vein.
(8) Measured, indicated and inferred resources were
estimated in by Goldminds Geoservices Inc. with effective date
12-July-2013, and are based on $1300 gold and a US$/CAN$ exchange
rate of 1:1.
The resources are in-situ without dilution and material loss.
       NI43-101 Technical Report, Mineral Resource Update, Heva-Hosco
       Gold Projects, Rouyn-Noranda, Quebec, Hecla Quebec, December 2013
       Prepared by: Claude Duplessis, Eng. Project Manager - GoldMinds
       Geoservices Inc.; Maxime Dupere, P.Geo - SGS Canada Inc. (Geostat)
(9) Indicated resources reported at a minimum mining
width of 6.0 feet for Bulldog; resources based on $26.5 Ag, $0.85
Pb, and $0.85 Zn.
(10) Indicated resources reported at a minimum mining
width of 4.3 feet.
(11) Inferred resources from Gold Hunter and Lucky
Friday vein systems are diluted and factored for expected mining
recovery.
(12) Inferred resources reported at a minimum mining
width of 6.6 feet (2 m) for Hugh Zone and 4.9 feet (1.5 m) for
Andrea Vein, Middle Vein, and North Vein. East Francine resources
reported at actual vein width.
 San Sebastian lead, zinc and copper grades are for 1,338,300 tons of
 inferred resource within the Middle Vein and the Hugh Zone of the
 Francine Vein.
(13) Inferred resources reported at a minimum mining
width of 6.0 feet for Bulldog, 5.0 feet for Equity & North Amethyst
veins; resources based on $1400 Au, $26.5 Ag, $0.85 Pb, and $0.85 Zn.
(14) Inferred resources reported at a minimum mining
width of 4.3 feet.
(15) Inferred resource reported at a minimum mining width
of 5.0 feet; resources based on $1400 Au, $26.5 Ag.
(16) Inferred resource reported at a minimum thickness of
15 feet.
     Inferred resources at Rock Creek adjusted given mining restrictions
     as defined by U.S. Forest Service - Kootenai National Forest in the
     June 2003 ’Record of Decision, Rock Creek Project’.
(17) Inferred resource reported at a minimum thickness
of 15 feet.
Inferred resources at Montanore adjusted given mining restrictions
as defined by U.S. Forest Service, Kootenai National Forest, Montana
DEQ in the December 2015 ’Joint Final EIS, Montanore Project’ and
the February 2016 U.S. Forest Service - Kootenai National Forest
’Record of Decision, Montanore Project’.
 
* Totals may not represent the sum of parts due to rounding

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SOURCE: Hecla Mining Company

Hecla Mining Company 
Mike Westerlund 
Vice President - Investor Relations 
800-HECLA91 (800-432-5291) 
Investor Relations 
Email: hmc-info@hecla-mining.com 
Website: http://www.hecla-mining.com 


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