EX-99 2 a1q16pre-releasexexhibit991.htm EXHIBIT 99 Exhibit

NEWS RELEASE                 
Coeur Reports First Quarter 2016 Production Results

Chicago, Illinois - April 7, 2016 - Coeur Mining, Inc. (the "Company" or "Coeur") (NYSE:CDE) today announced first quarter production of 3.4 million ounces of silver and 78,072 ounces of gold, or 8.1 million silver equivalent1 ounces.
Quarterly Production Results


First Quarter 2016 Operational Results
First quarter operational highlights for each of Coeur's operations are provided below.
Palmarejo, Mexico
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Underground Operations:
 
 
 
 
 
   Tons mined
215,642
189,383
190,399
172,730
149,150
   Average silver grade (oz/t)
4.21
3.96
4.11
3.90
4.34
   Average gold grade (oz/t)
0.07
0.06
0.10
0.09
0.07
Surface Operations:
 
 
 
 
 
   Tons mined
35,211
102,018
247,071
257,862
281,481
   Average silver grade (oz/t)
4.18
3.86
3.56
3.47
3.79
   Average gold grade (oz/t)
0.04
0.03
0.03
0.03
0.04
Processing:
 
 
 
 
 
   Total tons milled
246,533
301,274
427,635
435,841
451,918
   Average recovery rate – Ag
89.1%
95.4%
87.9%
78.5%
78.7%
   Average recovery rate – Au
92.1%
88.8%
84.7%
76.2%
73.9%
Silver production ounces (000's)
933
1,126
1,422
1,247
1,354
Gold production ounces
14,668
14,326
22,974
18,127
15,495
Silver-equivalent1 production ounces (000's)
1,813
1,985
2,800
2,335
2,284


1. Silver and gold equivalence calculated using a 60:1 silver to gold ratio.
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Production in-line with expectations as transition to lower-tonnage, higher-grade, higher-margin underground operations from two ore sources - Guadalupe and Independencia - remains on-track
Averaged mining rate at Guadalupe of over 1,850 tons per day in the first quarter
Achieved initial production from Independencia ore body in early January
Higher recovery rates continue as a result of several process enhancements implemented in 2015 and as a larger proportion of ore is coming from underground operations
Mining of the open-pit and old underground continues at lower rates and is expected to cease by mid-2016
Maintaining full-year 2016 production guidance of 3.8 - 4.3 million silver ounces and 67,000 - 72,000 gold ounces
Rochester, Nevada
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Tons placed
4,374,459
4,411,590
4,128,868
3,859,965
4,013,879
Average silver grade (oz/t)
0.64
0.60
0.59
0.61
0.74
Average gold grade (oz/t)
0.004
0.003
0.003
0.003
0.004
Silver production ounces (000's)
929
1,107
1,086
1,294
1,144
Gold production ounces
10,460
11,564
10,892
16,411
13,721
Silver equivalent1 production ounces (000's)
1,557
1,800
1,740
2,279
1,967
Lower silver equivalent production due to poor weather conditions and timing of recoveries from the Stage III leach pad
Production levels increased in March and are expected to continue to climb throughout the year
Maintaining full-year 2016 production guidance of 4.7 - 5.2 million silver ounce and 48,000 - 55,000 gold ounces
Kensington, Alaska
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Tons milled
159,360
159,666
165,198
170,649
164,951
Average gold grade (oz/t)
0.21
0.22
0.19
0.18
0.24
Average recovery rate
95.8%
96.0%
93.9%
94.9%
94.8%
Gold production ounces
31,974
33,713
28,799
29,845
33,909
Consistent production levels achieved during first quarter
Development of the decline into the high-grade Jualin deposit is progressing and is over one-third complete
Maintaining full-year 2016 production guidance of 115,000 - 125,000 gold ounces
Wharf, South Dakota
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Tons placed
974,663
1,147,130
1,149,744
887,409
415,996
Average gold grade (oz/t)
0.031
0.032
0.035
0.025
0.020
Average plant recovery rate - Au
96.6%
97.3%
92.8%
76.7%
85.9%
Gold production ounces
20,970
31,947
23,104
16,472
6,609
Silver production ounces (000's)
13
18
19
19
Gold equivalent1 production ounces
21,186
32,231
23,427
16,794
6,609
Lower production compared to prior quarter as expected due to timing of recovery from the current leach pad. Higher production expected during remainder of 2016
Maintaining full-year 2016 production guidance of 90,000 - 95,000 gold ounces, which is expected to be approximately 20% higher than 2015 production

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San Bartolomé, Bolivia
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Tons milled
407,806
475,695
373,201
457,232
406,951
Average silver grade (oz/t)
3.64
3.84
3.76
3.73
3.65
Average recovery rate
93.1%
84.9%
84.0%
87.6%
81.6%
Silver production ounces (000's)
1,382
1,550
1,178
1,495
1,213
Production was lower compared to the fourth quarter due to mill maintenance early in the first quarter
Approximately one-third of production was derived from higher-grade third-party ore purchases
Recently installed an oxygen injection system in the agitation leach circuit to improve recovery rates
Maintaining full-year 2016 production guidance of 5.7 - 6.0 million silver ounces, which is expected to be 5 - 10% higher than 2015 production

Coeur Capital, Inc.
Endeavor, Australia
1Q 2016
4Q 2015
3Q 2015
2Q 2015
1Q 2015
Silver production ounces (000's)
115
171
121
204
133
Silver production received from the Company's silver stream on the Endeavor mine in Australia declined following a decision by the operator to significantly cut production due to lower lead and zinc prices. As a result, Coeur is revising 2016 production guidance for Endeavor to 175,000 - 200,000 silver ounces from 350,000 - 400,000 silver ounces
On March 31, 2016 Coeur sold its 2.0% net smelter returns "NSR" royalty on the Cerro Bayo mine to the operator, Mandalay Resources Corporation, for total consideration of approximately $5.7 million, consisting of $4.0 million in cash and 2.5 million Mandalay shares
Entered into a definitive agreement to sell 2.5% NSR royalty on the La Cigarra project to Kootenay Silver Inc. for total consideration of approximately $2.5 million, consisting of $500,000 in cash and 9.6 million Kootenay shares. The transaction is expected to close in April

2016 Production Outlook
Coeur's 2016 silver and gold production guidance is shown below. Guidance has been updated to reflect lower production outlook from the Endeavor silver stream. Production guidance for mines operated by Coeur remains unchanged.
(silver and silver equivalent ounces in thousands)
Silver
Gold
Silver Equivalent1
Palmarejo
3,800 - 4,300
67,000 - 72,000
7,820 - 8,620
San Bartolomé
5,700 - 6,000
5,700 - 6,000
Rochester
4,700 - 5,200
48,000 - 55,000
7,580 - 8,500
Endeavor
175 - 200
175 - 200
Kensington
115,000 - 125,000
6,900 - 7,500
Wharf
80 - 100
90,000 - 95,000
5,480 - 5,800
Total
14,455 - 15,800
320,000 - 347,000
33,655 - 36,620



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Financial Results and Conference Call
Coeur will report its full operational and financial results for first quarter 2016 on April 27, 2016 after the New York Stock Exchange closes for trading. There will be a conference call on April 28, 2016 at 11:00 a.m. Eastern time.
Dial-In Numbers:     (855) 560-2581 (US)
(855) 669-9657 (Canada)        
                                (412) 542-4166 (International)
Conference ID:        Coeur Mining
The conference call and presentation will also be webcast on the Company’s website www.coeur.com. Hosting the call will be Mitchell J. Krebs, President and Chief Executive Officer of Coeur, who will be joined by Peter C. Mitchell, Senior Vice President and Chief Financial Officer, Frank L. Hanagarne, Jr., Senior Vice President and Chief Operating Officer, Hans Rasmussen, Senior Vice President of Exploration, and other members of management. A replay of the call will be available through May 13, 2016.
Replay numbers:      (877) 344-7529 (US)
(855) 669-9658 (Canada)    
                            (412) 317-0088 (International)
Conference ID:        100 83 340
About Coeur
Coeur Mining is the largest U.S.-based primary silver producer and a significant gold producer with five precious metals mines in the Americas employing approximately 2,000 people. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the San Bartolomé silver mine in Bolivia. The Company also has a non-operating interest in the Endeavor mine in Australia in addition to royalties on the El Gallo complex in Mexico, the Zaruma mine in Ecuador, and the Correnso mine in New Zealand. In addition, the Company has two silver-gold exploration projects - the La Preciosa project in Mexico and the Joaquin project in Argentina. The Company also conducts ongoing exploration activities in Alaska, Argentina, Bolivia, Mexico, and Nevada. The Company owns strategic investment positions in several silver and gold development companies with projects in North and South America.
Cautionary Statement
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated production, operations at the Palmarejo complex, production levels at Rochester, exploration and development efforts at Kensington and potential asset sales. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that anticipated production levels are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeur's production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver reserves, changes that could result from Coeur's future acquisition of new mining properties or businesses, reliance on third parties to operate certain mines where Coeur owns silver production and reserves and the absence of control over mining operations in which Coeur or its subsidiaries hold royalty or streaming interests and risks related to these mining operations including results of mining and exploration activities, environmental, economic and political risks of the jurisdiction in which the mining operations are located, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, Coeur's ability to raise additional financing necessary to conduct its business,

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make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent report on Form 10-K. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
Dana Willis, Coeur's Director, Resource Geology and a qualified person under Canadian National Instrument 43-101, supervised the preparation of the scientific and technical information concerning Coeur's mineral projects in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures 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, Canadian investors should refer to the Technical Reports for each of Coeur's properties as filed on SEDAR at sedar.com.

For Additional Information:
Rebecca Hussey, Manager, Investor Relations
(312) 489-5827
www.coeur.com


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