Kensington Mine Reports Favorable Discovery Outcomes as Declared by Coeur Mining

Coeur Mining, a leading mining company, has announced significant advancements in its exploration program at the Kensington mine in Alaska. Located 45 miles north-northwest of Juneau, the Kensington mine is the second-largest private employer in Southeast and began operations in 2010.

The latest developments follow the successful addition of 1.5 years of mine life in 2022, marking the first such mine life addition at Kensington since 2018. Coeur expects to extend the life of the Kensington mine beyond 2030 with an aggressive four-year exploration program.

New sub-parallel mineralized structures have been discovered at Upper Kensington, including the new Zone 30C, which extends mineralization by approximately 400 feet along strike. A new parallel vein structure has been outlined, already extending 950 feet along strike and 800 feet down dip. Infill drilling at Elmira has successfully linked the main zone to the zones to the south.

As a result of the 2023 exploration drilling and development program, approximately 2,500 feet of additional mineralized strike length has been achieved at Kensington. The drill program at Upper Kensington has traced key mineralized structures to the south and down dip. Drilling along strike at Lower Kensington has intersected some of the best grade thickness ever encountered at Kensington, extending mineralization by more than 760 feet so far this year.

Drilling at Lower Kensington is beginning to define a new hanging-wall splay and a series of mineralized linking structures. The intersections between the main structures, the splay structures, and linking structures at Lower Kensington are believed to control higher-grade plunging shoots. Detailed structural and geological modelling is ongoing to enhance Coeur's understanding of the controls to higher-grade mineralization.

Coeur Mining plans an aggressive exploration program in the next four years, investing approximately 60% of its total 2023 exploration investment in the Kensington underground gold mine in Alaska and the Silvertip polymetallic exploration project in British Columbia. Coeur's president and CEO, Mitchell J. Krebs, has emphasized the company's success in extending mine lives and building a robust pipeline of resources.

Drill testing targets are expected to take place later in 2023 through 2024. A complete table of all year-to-date 2023 drill results can be found on Coeur's website. Coeur expects to invest approximately $80 million in the four-year plan for Kensington.

The positive developments at Kensington follow Coeur's commitment to responsible mining practices and community engagement. The company is dedicated to maintaining a safe and sustainable work environment while contributing to the local economy and supporting community initiatives.