Coeur Mining, Inc. 10-K

Item 2. Properties MINING OPERATIONS The following description of the Company’s mining operations is qualified in its entirety by reference to the Technical Report Summary for each of the operations included as exhibits to this Report and incorporated by reference into this Item 2. Operating statistics for mining operations are presented in the section entitled “Operating Statistics” below. Mexico — Palmarejo The Palmarejo complex, operated by our wholly-owned subsidiary, Coeur Mexicana, S.A. de C.V. (“Coeur Mexicana”), consists of (1) the Palmarejo processing facility; (2) the Guadalupe underground mine; (3) the Independencia underground mine; (4) the La Nación underground mine; and (5) other nearby deposits and exploration targets. The Palmarejo complex is located approximately 260 miles southwest of Chihuahua, in the state of Chihuahua in Northern Mexico. The coordinates for the centroid of the project are 108° 21.8203’ W longitude and 27° 21.5547’ N latitude (760,781 mE, 3,028,984 mN). Specifically, the Guadalupe mine is located at 108º 21.899’ W longitude and 27º 20.996’ N latitude (760,672 mE, 3,027,949 mN); Independencia is located at 108º 21.752’ W longitude and 27 º 22.078’ N latitude (760,873 mE, 3,029,953 m N); and La Nación is located at 108º 21.809’ W longitude and 27º 21.591’ N latitude (760,797 mE, 3,029,051 mN). All coordinates are in the Universal Transverse Mercator (WSG 84), Zone 12. Access to the property is provided by air, rail, and all-weather paved and gravel roads from the state capitol of Chihuahua. Stage: Production Location: State of Chihuahua, Northern Mexico Mine Type: Underground Metals/Mineralization: Silver and Gold, classified as epithermal deposits and are hosted in multiple veins, breccias, and fractures Product: Doré Ownership: 100% Land Position: 67,279 net acres Mineral Tenure: 71 wholly-owned mining concessions 24 Key Permit Conditions: Authorizations are in place that regulate typical life of mine functions, including production facilities and utilities, mining operations, tailings and waste rock storage, exploration, surface disturbance, land use, vegetation and change in soil use, air emissions, water use, and reclamation. Major authorizations were obtained through the completion of several MIAs (Manifestación de Impacto Ambiental), permits associated with forestry vegetation disturbance of change in soil use (Cambio de Uso de Suelo en Terrenos Forestales), and the required authorizations from the National Water Commission (Comisión Nacional del Agua or CONAGUA) for water use, effluent discharge, and to construct facilities in federal watersheds. Operational standards and best management practices (BMPs) have been established to maintain compliance with applicable regulatory standards and permits. Other: A portion of the Palmarejo complex is subject to a gold stream agreement with a subsidiary of Franco Nevada Corporation and related property encumbrances USA (Nevada) — Rochester The Rochester mine and associated heap leach facilities, operated by our wholly-owned subsidiary, Coeur Rochester, Inc. (“Coeur Rochester”), is an open pit silver and gold mine located in Pershing County, Nevada, approximately 13 miles northeast of the city of Lovelock. The mine consists of the main Rochester deposit and the adjacent Nevada Packard deposit, southwest of the Rochester mine. The centroid location for the Rochester site is 400600 E, 4460300 N and the centroid of Rochester pit is located at 4002045 E, 4460050 N and Nevada Packard open pit is located at 400600E, 4456675E. All coordinates are in Universal Transverse Mercator (WSG 84), Zone 11T. In November 2018, Coeur Rochester acquired the Lincoln Hill, Gold Ridge and Wilco projects adjacent to Rochester from Alio Gold. The Rochester mine is fully supported with electricity, supplied by a local power company. Ore is mined using conventional open pit methods, with gold and silver recovered by heap leaching of crushed open-pit ore placed on pads located within the Rochester mining area. Rochester is currently undergoing an expansion under POA 11. The expansion project includes the construction of a new leach pad, a crushing facility equipped with two high-pressure grinding roll units and a prescreen, a Merrill-Crowe process plant, and related infrastructure to support the extension of Rochester’s mine life and is expected to be completed in mid-2023. Stage: Production Location: Near Lovelock, Nevada (West-Central Nevada, USA) Mine Type: Open Pit Heap Leach Metals/Mineralization: Silver and Gold; mineralization is hosted in folded and faulted volcanic rocks of the Rochester Formation and overlying Weaver Formation. Silver and gold, consisting of silver sulfosalt minerals, argentite, silver-bearing tetrahedrite and minor native gold, are contained in zones of multiple quartz veins and veinlets (vein, vein swarms and stockworks) with variable amounts of pyrite Product: Doré Ownership: 100% Land Position & Mineral Tenure Coeur Rochester lands, including the Lincoln Hill and related assets, consist of approximately 43,441 net acres • 1,465 owned and 337 leased Federal unpatented lode claims and 6 owned federal unpatented placer claims, appropriating approximately 29,938 net acres of public land; • 23 patented lode claims, consisting of approximately 392 acres; • Interests owned in approximately 6,929 gross acres of additional real property; and • Certain rights in and to approximately 6,182 acres, held either through lease, letter agreement or license. 25 Key Permit Conditions: The Rochester Mine has in place and operates subject to all necessary environmental permits and licenses from the appropriate local, state, and federal agencies for typical life of mine functions involving exploration, the open pit mines, heap leach pads, processing infrastructure, and all necessary support facilities. Operational standards and best management practices have been established to maintain compliance with applicable regulatory standards and permits. Major permits or approvals are in place from the U.S. Department of Interior Bureau of Land Management, Nevada Division of Water Resources, the Nevada Division of Environmental Protection, as well through other federal, state, and local entities. The environmental effects of the operation were comprehensively evaluated through the National Environmental Policy Act (NEPA) through Environmental Impact Statements. Monitoring programs are in place, and there is an approved reclamation and closure plan that reflects current mining, mitigation, and site facilities. Other: • A security interest in the Rochester mine has been granted in favor of the lenders under the RCF (as defined below) • Certain royalty interests have been granted with respect to the Rochester property USA (Alaska) — Kensington The Kensington underground gold mine and associated milling facilities, operated by our wholly-owned subsidiary, Coeur Alaska, Inc. (“Coeur Alaska”), are located on the east side of the Lynn Canal about 45 miles north-northwest of Juneau, Alaska. The mine consists of the (i) Kensington Main deposit, (ii) Elmira, and (iii) other nearby deposits and exploration targets. The mine is accessed by a horizontal tunnel and utilizes conventional and mechanized underground mining methods. Coordinates for the project centroid are 0494796 E, 652068 N and the Kensington Portal is located at 0494796 E, 6530584 N. All coordinates are in Universal Transverse Mercator (NAD 1983), Zone 8V. Kensington is currently undertaking a planned expansion under POA 1, which would increase tailings and waste rock storage capacity to support an expected longer mine life, reflecting positive exploration results, improved metal prices and ongoing operational efficiencies. Stage: Production Location: Juneau, Alaska (Southeast Alaska, USA) Mine Type: Underground Metals/Mineralization: Gold; gold-bearing mesothermal, quartz, carbonate and pyrite vein swarms and discrete quartz-pyrite veins hosted in Cretaceous-aged Jualin diorite. Most of the gold is contained in calaverite (AuTe2) that occurs in association with native gold as inclusions in and interstitial to pyrite grains and in microfractures in pyrite. Product: Gold Concentrate Ownership: 100% Land Position & Mineral Tenure • The Kensington Group, totaling approximately 3,972 net acres, consists of 51 patented lode and patented mill site claims comprising approximately 766 net acres, 291 Federal unpatented lode claims covering approximately 3,141 net acres, and 13 State of Alaska mining claims covering approximately 95 net acres. • The Jualin Group, totaling approximately 8,366 net acres, is comprised of 23 patented lode and patented mill site claims covering approximately 388 net acres, 444 Federal unpatented lode claims and 75 Federal unpatented mill site claims appropriating approximately 7,814 net acres, a State of Alaska upland mining lease comprising approximately 682 acres, one State of Alaska mining claim comprising approximately three acres and four State-selected mining claims covering approximately 60 acres. • 14 of the 23 patented lode claims cover private surface estate only. The mineral estate to these 14 patented lode claims is owned by the State of Alaska, the mineral rights to which are secured by a State of Alaska upland mining lease • The Company controls properties comprising the Jualin Group, under a lease agreement with Hyak Mining Company, which is valid until August 5, 2035 and thereafter, provided mining and production are actively occurring within and from the leased premises. 26 Key Permit Conditions: The Kensington Mine has in place and operates subject to all necessary environmental permits and licenses from the appropriate local, state, and federal agencies for typical life of mine functions involving mine operations and production/processing facilities and infrastructure, tailings and waste rock storage, exploration, surface disturbance, air emissions, water use, marine transport, and reclamation. Operational standards and best management practices have been established to maintain compliance with applicable regulatory standards and permits. Major permits or approvals are in place from the U.S. Department of Agriculture National Forest Service, U.S. Army Corps of Engineers, U.S. Fish and Wildlife Service, National Oceanic and Atmospheric Administration, State of Alaska, as well through other federal, state, and local entities. The environmental effects of the operation were comprehensively evaluated through the National Environmental Policy Act (NEPA) through Environmental Impact Statements. Monitoring programs are in place, and there is an approved reclamation and closure plan that reflects current mining, mitigation, and site facilities. Other: • A security interest in the Kensington mine has been granted in favor of the lenders under the RCF • Certain royalty interests have been granted with respect to the Kensington property USA (South Dakota) — Wharf The Wharf mine, operated by our wholly-owned subsidiaries, Wharf Resources (U.S.A.) Inc. (“Wharf”) and Golden Reward Mining Limited Partnership (“Golden Reward”), is located in the northern Black Hills of western South Dakota, approximately four miles southwest of the city of Lead, South Dakota. Coordinate for the project centroid are 44°20’03”N Latitude, 103°50’06”W Longitude and the Wharf Mine coordinates are 44°20’39”N Latitude, 103°51’02”W Longitude. All coordinates are in Universal Transverse Mercator (WSG 84). Access is established by paved road with power supplied by a local power company. Stage: Production Location: Lead, South Dakota, USA Mine Type: Open Pit Heap Leach Metals/Mineralization: Gold and Silver by-product; a structurally controlled disseminated gold deposit Product: Electrolytic Cathodic Sludge Ownership: 100% Land Position & Mineral Tenure • The Wharf Group is comprised of 362 patented lode claims, 35 government lots, 123 subdivided lots, and 59 federal unpatented lode claims. These interests cover approximately 3,585 net surface acres, 652 net mineral acres where both the Precambrian and younger formations are owned or controlled, 3,243 net mineral acres of non-Precambrian mineral estate, 1,603 net mineral acres of Precambrian mineral estate and 287 net acres of federal unpatented lode claims. • The Golden Reward Group encompasses 218 patented lode claims, 14 government lots, 19 subdivided lots and 34 federal unpatented lode claims. The Golden Reward Group is comprised of approximately 1,564 net acres of surface estate, 2,988 net mineral acres of mineral estate where both the Precambrian and younger formations are owned or controlled, 357 net mineral acres of Non-Precambrian mineral estate, 153 net mineral acres of Precambrian mineral estate and 25 net acres of federal unpatented lode claims. Key Permit Conditions: The Wharf Mine has in place and operates subject to all necessary environmental permits and licenses from the appropriate local, state, and federal agencies for typical life of mine functions involving exploration, the open pit mines, heap leach pads, processing infrastructure, and all necessary support facilities. Operational standards and best management practices have been established to maintain compliance with applicable state and federal regulatory standards and permits. Major permits or approvals are in place from the South Dakota Department of Agriculture and Natural Resources, Lawrence County, as well through other federal, state, and local entities. Monitoring programs are in place, and there is an approved reclamation and closure plan that reflects current mining, mitigation, and site facilities. Other: • A security interest in the Wharf mine has been granted in favor of the lenders under the RCF • Certain royalty interests have been granted with respect to the Wharf property 27 MINING PROJECTS Canada (British Columbia) — Silvertip The Silvertip silver-zinc-lead exploration property owned by our wholly-owned subsidiary, Coeur Silvertip Ltd. (“Coeur Silvertip”), is an underground project located in northern British Columbia, Canada just south of the Yukon border. The project centroid coordinates in UTM (NAD 27) are 6,643,900 N and 425,200 E. The project is accessible via a 25-kilometer mine access road off the Alaska Highway. Stage: Exploration Location: Northern British Columbia, Canada (10 miles south of the Yukon Territory Border) Mine Type: Underground Metals/Mineralization: Silver, Zinc and Lead; carbonate-hosted massive sulfide deposit Product: Concentrate Ownership: 100% Land Position & Mineral Tenure: • Sixty-six (66) contiguous mineral claims containing approximately 39,375 hectares (97,298 acres) and two mining leases containing approximately 1,528 hectares (3,777 acres). In total, the Silvertip mine covers an area of approximately 40,904 hectares (101,076 acres) Other: • Suspended operating activities in February 2020; ongoing exploration and technical work to evaluate and support a potential expansion and restart • Certain royalty interests have been granted with respect to the Silvertip property OTHER PROPERTIES The Company has interests in several other exploration-stage properties in North America, as well as leased or owned real property for office space. OPERATING STATISTICS Palmarejo Rochester 2022 2021 2020 2022 2021 2020 Gold produced (oz.) 106,782 109,202 110,608 34,735 27,051 27,147 Silver produced (oz.) 6,708,689 6,820,589 6,269,206 3,061,924 3,158,017 3,174,529 Kensington Wharf 2022 2021 2020 2022 2021 2020 Gold produced (oz.) 109,061 121,140 124,867 79,768 91,136 93,056 Silvertip 2022 2021 2020 Silver produced (oz.) — — 139,287 Zinc produced (lb.) — — 2,459,756 Lead produced (lb.) — — 2,176,847 MINERAL RESERVES AND MINERAL RESOURCES Internal Controls The company’s internal controls are designed to provide reasonable assurance that information and processes utilized in assessing its exploration results as well as mineral resource and reserve estimation are reasonable and in line with industry best practices. These internal controls include quality assurance and quality control (“QA/QC”) programs in the collection, analysis, verification, storage, reporting and use of drillhole, assay, metallurgical and other technical and scientific information, including the following: • Third-party fully certified labs are used for assays used in public disclosure or resource models ; • Drill programs include insertion of blank, duplicate, and certified reference materials; • QA/QC program with sufficient results for the analytical programs; 28 • All core and reverse-circulation samples have been cataloged and stored in secure and designated areas on company property; • Data is subject to validation, which includes checks on downhole surveys, collar coordinates, geological data, and assay data; • Prior to use in mineral resource or mineral reserve estimation, the selected data to support estimation are downloaded from the database into a project file and reviewed for improbable entries and high values; • Written procedures and guidelines are used to support estimation methods and approaches; • Completion of annual technical statements on each mineral resource and mineral reserve estimate by qualified persons. These technical statements include evaluation of modifying and technical factors, incorporate available reconciliation data, and are based on a cashflow analysis; and • Internal reviews of block models, mineral resources and mineral reserves using a “layered responsibility” approach with Qualified Person involvement at the site and corporate levels. Internal controls are discussed where required in the relevant chapters of the technical report summary. The following sub-sections summarize the types of procedures, protocols, guidance and controls that Coeur has in place for its exploration and mineral resource and reserve estimation efforts, and the type of risk assessments that are undertaken. Exploration and Drilling Coeur has the following internal controls protocols in place for exploration data: • Written procedures and guidelines to support preferred sampling methods and approaches, with periodic compliance reviews of adherence to such written procedures and guidelines; • Maintenance of a complete chain-of-custody, ensuring the traceability and integrity of the samples at all handling stages from collection, transportation, sample preparation and analysis to long-term sample storage; • Geological logs are checked and verified, and there is a physical sign-off to attest to the validation protocol required; • Quality control checks on collar and downhole survey data for errors or significant deviations; • Third-party fully certified labs are used for assays used in public disclosure or resource models; • Appropriate types of quality control samples are inserted into the sample stream at appropriate frequencies to assess analytical data quality; • Regular inspection of analytical and sample preparation facilities by appropriately experienced Coeur personnel; • QA/QC data are regularly verified to ensure that outliers, sample mix-ups, contamination, or laboratory biases during the sample preparation and analysis steps are correctly identified, mitigated or remediated. Changes to database entries are required to be documented; and • Database upload and verification procedures to ensure the accuracy and integrity of the data being entered into the project database(s). These are typically performed using software data-checking routines. Changes to database entries are required to be documented. Data are subject to regular backups. Mineral Resource and Mineral Reserve Estimates Coeur has the following internal controls protocols in place for mineral resource and mineral reserve estimation: • Prior to use in mineral resource or mineral reserve estimation, the selected data to support estimation are downloaded from the database into a project file and reviewed for improbable entries and high values; • Written procedures and guidelines are used to support estimation methods and approaches; • Completion of annual technical statements on each mineral resource and mineral reserve estimate by qualified persons. These technical statements include evaluation of modifying and technical factors, incorporate available reconciliation data, and are based on a cashflow analysis; and • Internal reviews of block models, mineral resources and mineral reserves using a “layered responsibility” approach with qualified person involvement at the site and corporate levels. 29 Development of our mineral resource and mineral reserve estimates use tools and processes such as mine design, scheduling and geostatistical tools that conform to industry best practices and are regularly reviewed and reconciled by internal and external parties. There are internal and external audit processes for mineral resource and mineral reserve estimation. Mineral resources and mineral reserves are estimates that contain inherent risk and depend upon geologic interpretation and statistical inferences drawn from drilling and sampling analysis, which may prove to be unreliable. See Risk Factors in Item 1A for additional information. MINERAL RESERVES Summary Gold Mineral Reserves at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(8) Proven Mineral Reserves Probable Mineral Reserves Total Mineral Reserves Coeur Ownership Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Mexico Palmarejo (4) 100% 4,081 0.059 241 14,119 0.050 712 18,200 0.052 953 United States Rochester (5) 100% 425,748 0.003 1,079 38,001 0.002 93 463,749 0.003 1,172 Kensington (6) 100% 939 0.180 169 1,273 0.189 240 2,212 0.184 409 Wharf (7) 100% 6,379 0.031 199 27,328 0.026 709 33,707 0.027 908 Total Gold 437,147 0.004 1,688 80,721 0.022 1,754 517,868 0.007 3,442 Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(8) Proven Mineral Reserves Probable Mineral Reserves Total Mineral Reserves Coeur Ownership Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Mexico Palmarejo (4) 100% 4,081 4.21 17,172 14,119 3.44 48,565 18,200 3.61 65,737 United States Rochester (5) 100% 425,748 0.39 166,172 38,001 0.36 13,803 463,749 0.39 179,975 Total Silver 429,829 0.43 183,344 52,120 1.20 62,368 481,949 0.51 245,712 (1) Certain definitions: The term “reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “proven (measured) reserves” means reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes, grade and/or quality are computed from the results of detailed sampling; and (b) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term “probable (indicated) reserves” means reserves for which quantity and grade and/or quality are computed from information similar to that used for proven (measured) reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation. The term “cutoff grade” means the lowest grade of mineralized material considered economic to process. Cutoff grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the mineralized material to silver or gold extraction and type of milling or leaching facilities available. (2) Assumed metal prices for 2022 Mineral Reserves were $21.00 per ounce of silver, $1,600 per ounce of gold, $1.15 per pound of zinc, $0.95 per pound of lead. Except for Kensington at $1,700 per ounce of gold. (3) The Mineral Reserve estimates are current as of December 31, 2022, are reported using the definitions in Item 1300 of Regulation S-K and were prepared by the company’s technical staff. (4) Mineral Reserve estimates use the following key input parameters: assumption of conventional longhole underground mining; reported above a variable gold equivalent cut-off grade that ranges from 2.02–2.07 g/t AuEq and an incremental development cut-off grade of 1.05 g/t AuEq; metallurgical recovery assumption of 90.5% for gold and 82.5% for silver; mining dilution assumes 0.4-1.0 meter of hanging wall waste dilution; mining loss of 20% was applied; variable mining costs that range from US$44.74–US$47.13/tonne, surface haulage costs of US$4.01/tonne, process costs of US$29.17/tonne, general and administrative costs of US$12.56/tonne, and surface/auxiliary support costs of US$3.24/tonne. Excludes the impact of the Franco-Nevada gold stream agreement at Palmarejo in calculation of Mineral Reserves. (5) Mineral Reserve estimates are tabulated within a confining pit design and use the following input parameters: Rochester oxide variable recovery Au = 77.7-93.7% and Ag = 59.4%; Rochester sulfide variable recovery Au = 15.2-77.7% and Ag = 0.0-59.4%; with a net smelter return cutoff of $3.25/st oxide and US$3.35/st sulfide; Nevada Packard oxide recovery Au = 92.0% and Ag = 61.0%; with a net smelter return cutoff of $4.40/st for oxide, where the NSR is calculated as resource net smelter return (NSR) = silver grade (oz/ton) * silver recovery (%) * (silver price ($/oz) - refining cost ($/oz)) + gold grade (oz/ton) * gold recovery (%) * (gold price ($/oz) - refining cost ($/oz)); variable pit slope angles that approximately average 43º over the life-of-mine. (6) Mineral Reserve estimates use the following key input parameters: assumption of conventional underground mining; gold price of $1700/oz; reported above a gold cut-off grade of 0.133-0.135 oz/st Au; metallurgical recovery assumption of 94%; gold payability of 97.5%; mining dilution varies from 15-23%; mining loss of 5% was applied; variable mining costs that range from US$87.13–90.00/ton mined; process costs of US$54.38/ton processed; general and administrative costs of US$54.76/ton processed; and concentrate refining and shipping costs of US$88.39/oz sold. (7) Mineral Reserve estimates use the following key input parameters: assumption of conventional open pit mining; reported above a gold cut-off grade of 0.010 oz/ton Au; average metallurgical recovery assumption of 79.1%; royalty burden of US$64/oz Au; pit slope angles that vary from 34–50º; mining costs of US$2.39/ton mined, process costs of US$11.91/ton processed (includes general and administrative costs). 30 (8) Rounding of short tons, grades, and troy ounces, as required by reporting guidelines, may result in apparent differences between tons, grades, and contained metal contents. MINERAL RESOURCES Summary Gold Mineral Resources at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(11) Measured Mineral Resources Indicated Mineral Resources Measured + Indicated Mineral Resources Inferred Mineral Resources Coeur Ownership Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Mexico Palmarejo Mine, Mexico (4) 100% 4,030 0.066 267 16,704 0.054 907 20,734 0.057 1,174 5,633 0.067 380 United States Rochester Mine, USA (7) 100% 94,296 0.002 187 15,507 0.002 27 109,803 0.002 214 77,001 0.002 148 Kensington Mine, USA (5) 100% 2,412 0.276 665 1,309 0.293 384 3,721 0.282 1,049 1,246 0.282 351 Wharf Mine, USA (6) 100% 1,166 0.022 26 13,303 0.020 267 14,469 0.020 293 3,149 0.020 63 Lincoln Hill Project, USA (9) 100% 4,642 0.012 58 27,668 0.011 306 32,310 0.011 364 22,952 0.011 255 Wilco Project, USA (10) 100% — — — — — — — — — 25,736 0.021 531 Total Gold 106,546 0.011 1,203 74,491 0.025 1,891 181,037 0.017 3,094 135,717 0.013 1,728 Summary Silver Mineral Resources at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(11) Measured Mineral Resources Indicated Mineral Resources Measured + Indicated Mineral Resources Inferred Mineral Resources Coeur Ownership Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Tons (000s) Grade (oz./ton) Ounces (000s) Mexico Palmarejo Mine, Mexico (4) 100% 4,030 4.39 17,689 16,704 3.42 57,062 20,734 3.61 74,751 5,633 3.19 17,948 United States Rochester Mine, USA (7) 100% 94,296 0.33 31,452 15,507 0.34 5,332 109,803 0.33 36,784 77,001 0.34 26,151 Lincoln Hill Project, USA (9) 100% 4,642 0.34 1,592 27,668 0.31 8,655 32,310 0.32 10,247 22,952 0.36 8,163 Wilco Project, USA (10) 100% — — — — — — — — — 25,736 0.13 3,346 Canada Silvertip Mine, Canada (8) 100% 680 11.46 7,798 6,375 8.21 52,317 7,055 8.52 60,115 1,873 7.70 14,414 Total Silver 103,648 0.56 58,531 66,254 1.86 123,366 169,902 1.07 181,897 133,195 0.53 70,022 Summary Zinc Mineral Resources at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(11) Measured Mineral Resources Indicated Mineral Resources Measured + Indicated Mineral Resources Inferred Mineral Resources Coeur Ownership Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Canada Silvertip Mine, Canada (8) 100% 680 9.9 % 134,462 6,375 9.7 % 1,230,898 7,055 9.7 % 1,365,360 1,873 10.1 % 378,088 Summary Lead Mineral Resources at End of the Fiscal Year Ended December 31, 2022 (1)(2)(3)(11) Measured Mineral Resources Indicated Mineral Resources Measured + Indicated Mineral Resources Inferred Mineral Resources Coeur Ownership Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Tons (000s) Grade (%) Pounds (000s) Canada Silvertip Mine, Canada (8) 100% 680 7.7 % 104,870 6,375 4.8 % 617,279 7,055 5.1 % 722,149 1,873 4.4 % 165,985 31 (1) Certain definitions: The term “resource” means that it is a concentration or occurrence of material of economic interest in or on the Earth’s crust in such form, grade or quantity that there are reasonable prospects for economic extraction. Inferred, Indicated, and Measured resources are in order of increasing confidence based on level of underlying geological evidence. The term ‘inferred resource’ is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The term “limited geological evidence” means evidence that is only sufficient to establish that geological and grade or quality continuity is more likely than not. The level of geological uncertainty associated an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability and must have a reasonable expectation that the majority of inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. (2) Mineral Resource estimates are reported exclusive of mineral reserves, are current as of December 31, 2022, are reported using definitions in Item 1300 of Regulation S-K and were prepared by the company’s technical staff. (3) Assumed metal prices for 2022 estimated Mineral Resources were $25.00 per ounce of silver, $1,800 per ounce of gold, $1.30 per pound of zinc, $1.00 per pound of lead, unless otherwise noted. (4) Mineral Resource estimates use the following key input parameters: Assumption of conventional longhole underground mining; reported above a variable gold equivalent cut-off grade that ranges from 1.75-1.84 g/t AuEq; metallurgical recovery assumption of 90.5% for gold and 82.5% for silver; variable mining costs that range from US$42.50–US$47.13/tonne, surface haulage costs of US$4.01/tonne, process costs of US$29.17/tonne, general and administrative costs of US$12.56/tonne, and surface/auxiliary support costs of US$3.24/tonne. Excludes the impact of the Franco-Nevada gold stream agreement at Palmarejo in calculation of Mineral Resources. (5) Mineral Resource estimates use the following key input parameters: assumption of conventional longhole underground mining; reported above a variable gold cut-off grade that ranges from 0.125–0.191 oz/ton Au; metallurgical recovery assumption of 94%; gold payability of 97.5%, variable mining costs that range from US$87.13–175.48/ton mined; process costs of US$54.38/ton processed; general and administrative costs of US$54.76/ton processed; and concentrate refining and shipping costs of US$88.39/oz sold. (6) Mineral Resource estimates use the following key input parameters: assumption of conventional open pit mining; reported above a gold cut-off grade of 0.010 oz/ton Au; average metallurgical recovery assumption of 78.7% across all rock types; royalty burden of US$64/oz Au; pit slope angles that vary from 34–50º; mining costs of $2.39/ton mined, process costs of US$11.91/ton processed (includes general and administrative costs). (7) Mineral Resource estimates are tabulated within a confining pit shell and use the following input parameters: Rochester oxide variable recovery Au = 77.7-93.7% and Ag = 59.4%; Rochester sulfide variable recovery Au = 15.2-77.7% and Ag = 0.0-59.4%; with a net smelter return cutoff of $3.25/st oxide and US$3.35/st sulfide; Nevada Packard oxide recovery Au = 92.0% and Ag = 61.0%; with a net smelter return cutoff of $4.40/st for oxide, where the NSR is calculated as resource net smelter return (NSR) = silver grade (oz/ton) * silver recovery (%) * (silver price ($/oz) - refining cost ($/oz)) + gold grade (oz/ton) * gold recovery (%) * (gold price ($/oz) - refining cost ($/oz)); variable pit slope angles that approximately average 43º over the life-of-mine. (8) Underground Mineral Resource estimates are reported using a net smelter return (“NSR”) cutoff of US$130/tonne. Mineral Resources are reported insitu using the following assumptions: The estimate use the following key input parameters: lead recovery of 89-90%, zinc recovery of 82-83% and silver recovery of 83-84%. Lead concentrate grade of 53-54%; zinc concentrate grade of 56-57%; mining costs of US$68.77/tonne; processing costs of US$58.20/tonne and US$46.49/tonne, where the NSR ($/tonne) = tonnes x grade x metal prices x metallurgical recoveries – royalties – TCRCs – transport costs over the life of the mine. (9) Open Pit Mineral Resource estimates are reported in-situ and are contained within a confining pit shell and use the following key input parameters: reported above an oxide gold equivalent cutoff of 0.15 ounces per ton and 0.20 oz ounces per ton assuming a silver to gold ratio of 60:1; gold recoveries of 64%; silver recoveries of 59%; mining costs of US$3.10/ton; process costs of US$3.60/ton; general and administrative costs of $1.50/ton processed; average pit slope angles of 45º over the life-of-mine. The technical and economic parameters are those that were used in the 2018 Resource Estimation. Based on the QPs review of the estimate, there would be no material change to the Mineral Resource if a gold price of US$1,700/oz, a silver price of US$22/oz or economic parameters were updated. Therefore the 2018 Mineral Resource is considered current and is presented unchanged. (10) Open Pit Mineral Resource estimates are reported using an equivalent gold cutoff of 0.20 ounces per ton assuming a silver to gold ratio of 60:1. Resources are reported in-situ and contained withed a conceptual measured, indicated and inferred optimized pit shell. Silver price of US$20/oz, gold price of US$1,400/oz. Average oxide and sulfide gold recovery is 70%, average carbonaceous gold recovery is 50%. Average oxide and sulfide gold recovery is 60%. Average carbonaceous silver recovery is 50%. Open pit mining cost is US$1.50/ton, processing and processing and G&A cost is US$5.46/ton; average pit slope angles of 50º. The technical and economic parameters are those that were used in the 2018 Resource Estimation. Based on the QPs review of the estimate, there would be no material change to the mineral resources if a gold price of US$1,700/oz, a silver price of US$22/oz or economic parameters were updated. Therefore the 2018 Mineral Resource report is considered current and is presented unchanged. (11) Rounding of short tons, grades, and troy ounces, as required by reporting guidelines, may result in apparent differences between tons, grades, and contained metal contents.