About Hecla Mining

Hecla Mining Company and its subsidiaries discover, acquire, and develop mines and other mineral interests. The company also produces and markets concentrates containing silver, gold and other metals; carbon material containing silver and gold; and unrefined dore containing silver and gold. The silver, zinc and precious metals concentrates and carbon material the company produces are sold to custom smelters, metal traders and third-party processors, and the unrefined dore the company produces is sold to refiners or further refined before sale of the metals to traders. The company is organized and managed in five segments that encompass the company’s operating mines and significant assets being Greens Creek, Lucky Friday, Keno Hill, Casa Berardi and the Nevada Operations. The company’s business strategies include developing the Keno Hill properties located in the Yukon Territory, Canada; operating the company’s properties safely, and in an environmentally responsible manner; maintaining and investing in exploration and pre-development projects in the vicinities of mining districts and projects to be under-explored and under-invested; expanding the company’s proven and probable reserves, minerals resources and production capacity at the company’s properties; advancing permitting at the company’s Montana exploration project; and continuing to seek opportunities to acquire and invest in mining and exploration properties and companies. Products and Segments The company produces zinc, silver and precious metals flotation concentrates at Greens Creek and silver and zinc flotation concentrates at Lucky Friday, each of which the company sells to custom smelters and metal traders. The flotation concentrates produced at Greens Creek and Lucky Friday contain payable silver, zinc and lead, and at Greens Creek they also contain payable gold. At Greens Creek, the company also produces gravity concentrate containing payable silver, gold and lead. The company also produces unrefined gold and silver bullion bars (dore) and loaded carbon and precipitates at Casa Berardi, which are shipped to refiners before sale of the metals to precious metal traders. At times, the company sells loaded carbon and precipitates directly to refiners. Payable metals are those included in the company’s products, which the company is paid for by smelters, metal traders and refiners. The company’s segments as of December 31, 2023 included: Greens Creek located on Admiralty Island, near Juneau, Alaska. Greens Creek is 100% owned. Lucky Friday located in northern Idaho. Lucky Friday is 100% owned. Keno Hill located in the Keno Hill Silver District in Canada's Yukon Territory. Keno Hill is 100% owned and was acquired as part of the company’s acquisition of Alexco in September 2022. Production ramp-up commenced in June 2023. Casa Berardi located in the Abitibi region of northwestern Quebec, Canada. Casa Berardi is 100% owned. The Nevada Operations is located in northern Nevada. Nevada Operations is 100% owned and consists of four land packages in northern Nevada totaling approximately 110 square miles and containing four previously-operating mines with a history of high-grade gold production: Fire Creek, Hollister, Midas and Aurora. During 2022, the company mined and sold remnant refractory underground ore from the company’s stockpile. San Sebastian in Mexico was also considered a segment prior to 2021. Production ceased in the fourth quarter of 2020, and exploration activities are ongoing. Governmental Regulation The company is subject to the regulations of the Mine Safety and Health Administration (‘MSHA’) in the United States, the Commission of Labor Standards, Pay Equity and Occupational Health and Safety in Quebec, Workers' Safety and Compensation Board in the Yukon and the Mexico Ministry of Economy and Mining, and work with these agencies to address issues outlined in any investigations and inspections and continue to evaluate the company’s safety practices. The company has submitted plans to the Yukon Department of Energy, Mines and Resources to upgrade the water treatment plan at the Bermingham mine within the company’s Keno Hill operations. Properties Hecla is the operator at all mines and exploration properties. Individual Properties Material Operating Properties Greens Creek The company owns 100% of the Greens Creek mine, located on Admiralty Island near Juneau in southeast Alaska. The Greens Creek property includes 440 unpatented lode mining claims, 58 unpatented millsite claims, 21 patented lode claims and one patented millsite. In addition, the Greens Creek site includes properties under lease from the USFS for a road right-of-way, mine waste area and tailings storage facility. The USFS leases have varying expiration terms. Greens Creek also has title to mineral rights on 7,301 acres of federal land acquired through a land exchange with the USFS. The company is exploring, but not mining, on such federal land. The claims and leases above comprise a total area of approximately 24 square miles. Greens Creek consists of the mine, an ore concentrating mill, a tailings storage area, a ship-loading facility, camp facilities, a ferry dock, and other related infrastructure. Greens Creek is an underground mine accessed by a ramp from surface which produces approximately 2,300 to 2,600 tons of ore per day. Lucky Friday Lucky Friday is a deep underground silver, lead and zinc mine located in the Coeur d’Alene Mining District in northern Idaho. Lucky Friday is one-quarter mile east of Mullan, Idaho, and is adjacent to the U.S. Interstate 90. The Lucky Friday mine includes 710 acres consisting of 43 patented mining claims and fee lands and 535 acres consisting of 53 unpatented mining claims. The company also owns or controls approximately 26 square miles of mineral interests, which include patented mining and millsite claims, fee lands, and unpatented mining claims, that are adjacent to the Lucky Friday mine property. Keno Hill The Keno Hill unit is located in the central Yukon Territory, Canada, and covers an area of approximately 15,000 hectares in central Yukon. The operations are located in the traditional territory of the First Nation of Na-Cho Nyäk Dun (FNNND). The total Hecla Keno Hill mineral claims as of December 31, 2023, covers an area of 238.12 km2 and comprises 717 quartz mining leases, 867 quartz mining claims and two Crown Grants. The Keno Hill property is a polymetallic silver-lead-zinc vein district with characteristics similar to other well-known mining districts in the world. Examples of this type of mineralization include the Kokanee Range (Slocan), British Columbia; Coeur d’Alene, Idaho; Freiberg and the Harz Mountains, Germany; and Príbram, the Czech Republic. The Keno Hill mill is based on a conventional sequential flotation process producing silver and zinc concentrates. Casa Berardi Casa Berardi is located 95 kilometers north of La Sarre in the Abitibi Region of northwestern Quebec, Canada. The property borders Ontario to the west and covers parts of Casa Berardi, Dieppe, Raymond, D'Estrees, and Puiseaux townships. The Casa Berardi Property is in the northern part of the Abitibi Sub Province, a subdivision of the Superior Province, the Archean core of the Canadian Shield. History Hecla Mining Company was founded in 1891. The company, a Delaware corporation, was incorporated in 1891.