Coeur Mining to acquire concessions adjacent to Palmarejo mine

Coeur Mining announced that its subsidiary, Coeur Mexicana, has signed a purchase agreement with a subsidiary of Fresnillo to acquire mining concessions adjacent to the Palmarejo gold-silver complex located in the state of Chihuahua, Mexico. Total consideration includes a cash payment of approximately $25M and a future royalty on certain ounces discovered on the purchased concessions. Together, the concessions comprise nearly 7,000 acres and include claims adjacent to two primary zones within Palmarejo’s existing footprint as shown in yellow on the map below. The first set of concessions cover the southeast extensions of the Independencia and Nacion deposits where mining currently takes place. The second set of concessions, located to the northeast, surrounds multiple targets containing mineralization and historic resources that were added through the 2015 acquisition of Paramount Gold and Silver. Intensive field work including mapping and sampling across the entire Eastern land package, which was ramped up over the past twelve months and has shown very encouraging results, is expected to accelerate further following closing to test the most advanced targets along these two main trends.