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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (2547)	2/1/2000 9:58:00 AM
From: long-gone	Read Replies (1) \| Respond to of 8010

Coeur d'Alene Mines Corporation Updates Successful Chilean Exploration Program COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Jan. 11, 2000--Coeur d'Alene Mines Corporation (NYSE: CDE) is pleased to announce that the 1999 Chilean Exploration Programs at its Petorca (El Bronce) and Fachinal mines has successively increased the known resources by 192,000 gold-equivalent ounces, an increase of 18% from the beginning of the year. Coeur's focused two-phase exploration program was designed primarily to discover new reserves and resources around the existing mines, and to also examine in more detail the Company's most promising early-stage exploration properties. During 1999, approximately 76,000 gold-equivalent ounces have been added to the resource base at Coeur's Petorca (El Bronce) mine located 150 miles north of Santiago. Almost 116,000 gold-equivalent ounces have also been added to resources at the Company's Fachinal mine located in southern Chile. Additionally, the Board of Directors has authorized a capital expenditure of $2.7 million to develop the Furioso project for mining. This relatively small but very high-grade deposit is located 50 miles southwest of the Fachinal mine. To date, 42,000 tons at a gold-equivalent grade of 0.80 ounces per ton have been identified. Production from Furioso is scheduled to commence in the fourth quarter of 2000 and will significantly reduce cash costs at Fachinal. Opportunities exist to further increase reserves and resources at the Company's Chilean operations during 2000. In addition to its exploration program around existing mines, Coeur also controls a number of early-stage prospects, the most promising of which is its Carrizalillo silver-gold prospect in north central Chile situated approximately 45 miles southeast of the city of Copiapo. To date, geochemical surveys, sampling programs and limited reverse circulation drilling have identified a number of promising areas of silver-gold mineralization. An initial 3,300 foot drilling program is planned for these favorable areas in 2000. Dennis E. Wheeler, Chairman of the Board, President and Chief Executive Office of Coeur states that: "We have significantly reduced cash costs at Petorca and Fachinal in 1999 and employees at Petorca have surpassed one million manhours without a lost time accident. These achievements, along with our recent exploration success are a tribute to the dedication and hard work of our mining and exploration personnel. We expect further increases in reserves and resources at these mines and I believe that Chile will continue to make an important contribution to Coeur." Coeur d'Alene Mines Corporation is North America's leading low-cost primary silver producer and is a significant international gold producer as well. The Company has mining interests in Nevada, Idaho, Alaska, Chile, Bolivia and Australia. This document contains numerous forward-looking statements relating to the Company's silver and gold mining business. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Operating, exploration and financial data, and other statements in this document are based on information the company believes reasonable, but involve significant uncertainties as to future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, changes that could result from the Company's future acquisition of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, and risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries. Actual results and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.