CHICAGO, April 27, 2015 (GLOBE NEWSWIRE) -- Coeur Mining, Inc. ("Coeur" or the "Company") (CDE) announced the addition of 25.4 million silver ounces and 376,000 gold ounces to the proven and probable reserves at its Palmarejo mine in Mexico, representing 89% and 76% increases, respectively, compared to year-end 2014. Palmarejo's reserves now total 54.0 million silver ounces and 876,000 gold ounces.

Included in these reserves are 20.1 million silver ounces and 278,000 gold ounces at the newly-acquired deposit previously named Don Ese by Paramount Gold and Silver Corp. (now called "Independencia Este"), which is the continuation of Coeur's recently-discovered Independencia deposit (now called "Independencia Oeste").

Mitchell J. Krebs, Coeur's President and Chief Executive Officer, said, "Closing the acquisition of Paramount has further enabled Palmarejo's transition to a high-grade, high-margin underground operation and is an important milestone in Coeur's strategic repositioning. These new Independencia reserves represent a 12% increase to our companywide silver equivalent reserves and boost our overall silver equivalent reserve grade by 10%. Importantly, ore mined from Independencia Este is not subject to any non-government royalty or streaming obligation, which will further boost Palmarejo's margins and cash flow. With the Independencia deposit as a second source of high-grade silver and gold to supplement the rising production rates from the Guadalupe deposit, we anticipate Palmarejo will become our lowest cost and largest mine, contributing approximately half of Coeur's $190-$200 million of expected free cash flow in 2017.

"Palmarejo now has an expected mine life of around seven years of high-grade underground mining based on these reserves. We expect to further extend the mine life based on the significant amount of mineralization contained in the resource categories and based on the continued drilling success we are having at Guadalupe, at Independencia, and on targets located between these two growing deposits."

Coeur will file a National Instrument 43-101-compliant technical report for Palmarejo on www.sedar.com during the second quarter of 2015.

Highlights
(Comparisons below refer to the addition of the Independencia resource as of April 23, 2015 to Palmarejo's total year-end 2014 resource)

• Proven and probable silver reserves increased 89% to 54.0 million ounces
• Proven and probable gold reserves increased 76% to 876,000 ounces
• Measured and indicated silver resources decreased 19% to 21.0 million ounces
• Measured and indicated gold resources decreased 25% to 304,000 ounces
• Inferred silver resources increased 47% to 15.1 million ounces
• Inferred gold resources increased 33% to 318,000 ounces
• Paramount acquisition adds 36.8 million silver equivalent ounces to Palmarejo's reserves with an average grade of 10.65 AgEq oz/ton
• Guadalupe and Independencia represent 94% of Palmarejo's total reserves with a combined average grade of 10.05 silver equivalent oz/ton
• 35% of Palmarejo's total reserves are not subject to any non-government royalty or streaming obligation

Development continues on the 1,000 meter decline to Independencia from near Palmarejo's Guadalupe underground deposit, which was placed into production late last year and is expected to average 1,500 tons per day of mining by September. Mining activity is expected to begin at Independencia in early 2016 and to accelerate to 2,000 tons per day by early 2017. Guadalupe and Independencia have the potential to produce at a combined rate of 5,000 tons per day.

Coeur expects to expand Palmarejo's reserve base through an approximately $15 million drilling program over the next two years, with a focus on adding new resources at Guadalupe and upgrading the mine's 39.2 million silver equivalent ounces of measured and indicated resources, which have an average grade of 9.40 silver equivalent oz/ton.

Additional high-grade mineralization was recently identified through drilling activity close to existing infrastructure at Guadalupe. Highlights from the latest drilling program, which began in October 2014, are shown in the table below. All 29 holes that have returned results identified mineralization. These results are expected to be incorporated into year-end reserve and resource estimates.

About Coeur

Coeur Mining is the largest U.S.-based silver producer and a significant gold producer with five precious metals mines in the Americas employing approximately 2,100 people. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolome silver mine in Bolivia, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. The Company also has a non-operating interest in the Endeavor mine in Australia in addition to royalties on the Cerro Bayo mine in Chile, 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 mine life, mining rates, future drilling activity, production, costs, cash flow, margins, grade, development efforts, Palmarejo's transition to an underground operation, strategic repositioning, and the ability to increase reserves. 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 the anticipated benefits of the Paramount Gold & Silver Corp. acquisition will not be realized, 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 (including those involving third parties), the uncertainties inherent in the estimation of gold and silver ore 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, 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.

W. David Tyler, Coeur's Vice President, Technical Services 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. Mineral resources are in addition to mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be considered for estimation of mineral reserves, and there is no certainty that the inferred mineral resources will be realized. 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 relevant NI 43-101-compliant Technical Report on file at www.sedar.com and the Technical Report for Palmarejo which will be filed at www.sedar.com during the second quarter of 2015.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in public disclosures, such as "measured," "indicated," "inferred" and "resources," that are recognized by Canadian regulations, but that SEC guidelines generally prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at www.sec.gov.

Silver equivalence assumes 60:1 silver to gold ratio as follows:

Notes to the above mineral reserves and resources:

1. Effective December 31, 2014 except the Independencia deposit at Palmarejo, effective April 23, 2015, and Endeavor, effective June 30, 2014. Guadalupe reserves and resources adjusted April 23, 2015.
2. Assumed metal prices for estimated mineral reserves were $19.00 per ounce of silver and $1,275 per ounce of gold, except Endeavor, at $2,200 per metric ton of lead, $2,400 per metric ton of zinc, and $20.00 per ounce of silver. Assumed metal prices for mineral resources were $22.00 per ounce of silver and $1,350 per ounce of gold, except for Endeavor, at $2,200 per metric ton of lead, $2,400 per metric ton of zinc and $20.00 per ounce of silver.
3. Palmarejo mineral reserves and resources are the addition of Palmarejo, Guadalupe, and Independencia deposits (measured, indicated, and inferred). There are no mineral reserves and resources for La Patria. Mineral resources are in addition to mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be considered for estimation of mineral reserves, and there is no certainty that the inferred mineral resources will be realized.
4. Rounding of tons and ounces, as required by reporting guidelines, may result in apparent differences between tons, grade, and contained metal content.
5. For details on the estimation of mineral resources and reserves, including the key assumptions, parameters and methods used to estimate the mineral resources and reserves, Canadian investors should refer to the NI 43-101-compliant Technical Report for Coeur's properties on file at www.sedar.com and the Technical Report for Palmarejo to be filed at www.sedar.com during the second quarter of 2015.

Notes to the above drill results:

1. Drill intercepts full and half HQ and NQ core for infill holes, samples prepared at Guadalupe Mine, Guadalupe, CHI, and at ALS-Chemex Labs, Chihuahua, CHI with final sample preparation to pulp and analyses at ALS-Chemex Labs, Chihuahua, CHI.
2. Samples were analyzed by 30 gram fire assay with atomic absorption finish for Au <1 ppm or by 1000 gram Metallic Screen.
3. Drill intercepts calculated at 0.05 oz/ton Au. Maximum of 5 feet of internal dilution (less than cutoff) permitted in compositing. "Including" calculated at 0.15 cut-off grade.
4. All assays uncapped.
5. Assays not yet received for holes DC3-CG-0030 through 0036.