Coeur Reports 4th Quarter Profit and 2004 Results

Coeur Reports 4th Quarter Profit and 2004 Results
- $13.0 million net income in 4th quarter -





COEUR D'ALENE, Idaho, March 14  /PRNewswire-FirstCall/ -- Coeur d'Alene Mines
Corporation (NYSE: CDE; TSX: CDM), the world's largest primary silver producer
and a growing gold producer, today reported results for the fourth quarter and
full year 2004.

   Highlights

  Fourth Quarter


-- Net income of $13.0 million, or $0.05 per diluted share, compared with a
loss of $12.9 million, or $0.06 per share, in the fourth quarter of 2003.
Results for the quarter include operating income of $1.8 million, $2.1 million
related to cumulative reduction in depletion and income taxes for the year and
$9.1 million of tax benefits associated with the expected utilization of past
net operating losses.

-- Revenue of $46.1 million, an increase of 48% over reported revenue of $31.2
million in the fourth quarter of 2003.

-- Silver production of 4.3 million ounces, up 23% from a year ago and 43% from
last quarter.

-- Fourth quarter gold production of 47,055 ounces, up 80% from 2003's fourth
quarter and 46% from last quarter.

-- Average cash cost declined 36% to $2.22 per ounce of silver, compared to
$3.47 in 2003's comparable period and 49% lower than last quarter.

-- Cash, cash equivalents and short-term investments of $322.1 million at
December 31, 2004.

-- Coeur shares commenced trading on the Toronto Stock Exchange (TSX:CDM)
further enhancing the Company's leading liquidity position among silver
producers.

  Full Year 2004
  -- Revenue of $133.5 million, up 21% from the previous year


-- Full year silver production of 14.1 million ounces compared to 14.2 million
ounces in 2003

-- Full year gold production of 129,332 ounces, up 8% from 2003's level of
119,518 ounces.

-- Average cash cost per ounce of $3.66, compared to $3.27 the previous year.

-- Total silver reserves increased 12% above last year's reserve levels, to 196
million ounces - reserve levels more than doubled at Cerro Bayo and Martha as a
result of the expanded exploration program, further extending mine life.

2005 Outlook

-- San Bartolome construction has commenced, commercial production expected in
2006.

-- Revised Record of Decision ("ROD") for Kensington for the Final
Environmental Impact Statement ("FSEIS") issued by the U.S. Forest Service.
Final permits expected in the first half of 2005.

-- Exploration program expanded in 2005

"With continued strong silver and gold production, Coeur reported substantial
profit in the fourth quarter of 2004, finishing the year in strong fashion,"
said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of
Coeur.  "We are seeing the successful completion of Coeur's strategy to shift
to new low-cost mines, significantly expand exploration spending to develop new
low-cost ore reserves and improve our operations capability.  We believe this
focus on exploiting our vast exploration potential and low discovery costs at
or near our existing low-cost operations will further strengthen our position
as the premier silver investment.

"Our young mines in South America, Cerro Bayo and Martha, had excellent fourth
quarter and full year results, with strong metals production and low operating
costs -- $0.60 per ounce of silver (net of gold production credits) in the
fourth quarter and $2.07 per ounce for the full year -- as well as exploration
results which exceeded our expectations and continued to extend mine life.  We
will continue our expanded exploration program there in 2005," Mr. Wheeler
added.

"Construction has commenced at our San Bartolome silver project, with an
excellent construction and operating team in place.  San Bartolome is expected
to produce approximately eight million ounces of production annually which will
increase the Company's total silver production by 56%.  Production is expected
to begin in 2006, with anticipated strong cash flow at existing silver prices. 
We are pursuing optimization of the project to further reduce capital
expenditures and operating costs. Our cash liquidity position is strong, with
$322 million in cash, cash equivalents and short-term investments at year-end,
which will help fund our growth projects, including San Bartolome and
Kensington, and gives us great flexibility to look for new opportunities to
expand company production, reserves and cash flow," Mr. Wheeler said.

Financial Summary

Coeur d'Alene Mines Corporation today reported fourth quarter 2004 revenue of
$46.1 million, an increase of 48% over reported revenue of $31.2 million in the
fourth quarter of 2003.

During the fourth quarter of 2004, the Company reported net income of $13.0
million, or $0.05 per diluted share, compared to a net loss of $12.9 million,
or $0.06 per share, in the fourth quarter of 2003.  The fourth quarter of 2004
included $2.8 million of exploration expense related to the Company's
successful program which has increased our silver reserves, and $2.7 million in
pre-development costs for the development of the San Bartolome and Kensington
mines.  Results for the quarter included operating income of $1.8 million, the
effect of a cumulative reduction in depletion expense and income taxes for the
year of $2.1 million and a $9.1 million benefit for income taxes associated
with the expected utilization of past net operating losses.

For the fourth quarter of 2004, Coeur realized an average silver price of $7.08
per ounce compared to an average realized silver price during the previous
year's fourth quarter of $5.12 per ounce.  For its gold sales, Coeur realized
an average price of $427 per ounce during the fourth quarter of 2004 compared
to an average gold price of $365 per ounce during the same period last year.

For the full year 2004, the Company reported revenue of $133.5 million, up 21%
from the $110.5 million reported in the previous year.  The increase was due
primarily to increased gold production and higher metals prices.

For the full year 2004, the Company reported a net loss of $12.2 million, or
$0.06 per share, compared to a net loss of $66.2 million, or $0.39 per share in
2003. Results for the year also included the effect of a cumulative reduction
in depletion expense and income taxes of $2.1 million and a $9.1 million
benefit for income taxes associated with the expected utilization of past net
operating losses.  The 2004 year included $11.4 million in pre-development
costs related to the San Bartolome and Kensington projects and $15.7 million in
one-time business development expenses.  Absent these items, the company would
have reported a profit of $14.9 million.  2004's expenses also included $11.1
million of exploration expense.

The previous year's loss included a $41.6 million loss on the early retirement
of debt, a $2.3 million loss for the cumulative effect of change in accounting
principle, and an additional interest payment of $7.0 million triggered by the
early retirement of debt.

For the full year 2004, Coeur realized an average silver price of $6.82 per
ounce compared to an average realized price during the previous year of $4.89
per ounce.  For its gold sales, Coeur realized an average price of $410 per
ounce during 2004 compared to an average gold price of $345 per ounce during
the same period last year.

In 2004, Coeur completed a public underwriting of $180 million of 11/4%
Convertible Senior Notes due January 2024 and the underwriting of 26.6 million
common shares, which increased the Company's cash, cash equivalents and
short-term investments to $322 million at December 31, 2004.

The market prices of silver (Handy & Harman) and gold (London Final) on March
11, 2005 was $7.58 and $443.70 per ounce, respectively.

Coeur does not hedge any of its silver or gold production.

The Company expects to rely on SEC Rule 12b-25 for a brief delay in the filing
of its Form 10-K for the year ended December 31, 2004 in order to complete the
preparation of its newly required management's report on internal control over
financial reporting and the attestation report of its outside auditor relating
thereto.  Although it is possible such reports may cite one or more material
weaknesses in the Company's internal control over financial reporting at
year-end, the adjustments called for by such matters are reflected in the
financial data set forth in this press release and will be reflected in the
audited financial statements, and the Company expects to receive an unqualified
report of its outside auditor relating to the financial statements.

  Overview of Operations

   South America
  Cerro Bayo (Chile)/Martha (Argentina)


-- At Cerro Bayo, silver reserves, giving effect to 2004 production, are 316%
over prior year reserve levels to 6.1 million ounces, and gold reserves are
372% over prior year reserve levels to 116,000 ounces.

-- At Martha, 2004 year-end silver reserves nearly tripled to 3.9 million
ounces, extending mine life through at least mid-2006.

-- Expanded exploration program continuing in 2005. Discovery costs in 2004
were $0.25 per ounce.

-- 1.7 million ounces of silver and 22,511 ounces of gold produced during the
fourth quarter.

-- Fourth quarter cash costs of $0.60 per ounce of silver.

-- Full year 2004 production of 4.9 million ounces of silver and 59,876 ounces
of gold.

-- Cash costs of $2.07 per ounce of silver for the year.

Both gold and silver production at Cerro Bayo increased in the fourth quarter
from the third quarter 2004, resulting in significantly lower cash costs of
$0.60 per ounce of silver (net of gold by-product credit) during the fourth
quarter.  Production from Cerro Bayo continued to include ores from five
different vein systems, including high-grade ounces from the Javiera and Cerro
Bayo systems.  During the quarter, mining at Martha included ores from the
recently developed R-4 Deep and Mina Martha Deep zones, with higher-grade
silver ores contributing to increased silver production in the fourth quarter.
The ores from Cerro Bayo and Martha are combined and processed together at the
Cerro Bayo plant.

Silver reserve levels are 316% over prior year at Cerro Bayo and 290% at Martha
in 2004, giving effect to 2004 production, further extending mine lives.

The Company's expanded 2004 drilling program at Cerro Bayo more than tripled
silver and gold reserve levels, after giving effect to 2004 production, to 6.1
million ounces of silver, and 116,000 ounces of gold.

The 2004 drilling program continued the exploration and delineation of the
multiple Cerro Bayo deposits and resulted in the discovery of the Lourdes Norte
and Mercedes veins under post-mineral gravel cover and of the new Celia Este
and Myriam veins which are located proximal to existing veins.  Discovery of
additional covered veins and veins proximal to existing infrastructure will be
a significant part of future exploration at Cerro Bayo.  In 2004, approximately
$4.1 million was spent for exploration and over 250,000 feet of core drilling
was completed.

The discovery cost of new reserves at Cerro Bayo, all of which were added near
existing infrastructure, has averaged approximately $0.25(1) per silver
equivalent ounce. In 2005, Coeur expects to spend $3.9 million for exploration
at Cerro Bayo, representing the second year of a three-year exploration plan
designed to support at least three years of production.  The exploration
potential to discover additional high grade veins within the entire Cerro Bayo
trend, which is 2.5 miles east-west by 6 miles north-south, is considered to be
excellent.

At Martha in Argentina, year-end silver reserves nearly tripled to 3.9 million
ounces, giving effect to 2004 production, extending mine life through at least
mid-2006.  The work last year successfully discovered extensions of high-grade
ore along the strike of the Martha vein within the mine itself, and several new
high-grade ore shoots at the nearby R-4 Zone. The discovery cost of new
reserves has been approximately $0.21(2) per silver equivalent ounce.

Martha remains among the highest-grade silver mines in the world.  The
extension of the reserves at Martha has far surpassed the parameters upon which
the acquisition of this property was based.

The Company believes there is excellent potential to discover additional silver
resources on properties within the 450 square miles it controls in the Santa
Cruz Province, which includes the Martha mine.  Accordingly, Coeur has
increased its exploration budget at Martha to $2.7 million for 2005, an
increase of 58% over 2004 levels.  The current exploration program continues to
focus on extensions of high grade ore shoots known to exist on the property and
two drill rigs are operating full time.

(1) Since January 2002. Silver equivalent ounces = silver ounces + (gold ounces
x (gold price/silver price)) Prices used in year-end 2004 reserves: $390 gold,
$6.00 silver.

(2) Since acquisition in 2002.  Silver equivalent ounces = silver ounces +
(gold ounces x (gold price/silver price)) Prices used in year-end 2004
reserves: $390 gold, $6.00 silver.

   North America
  Rochester Mine (Nevada)
  -- Average cash cost in fourth quarter of $1.97 per ounce of silver.


-- Average 2004 cash costs of $3.93, reduced 16% from $4.67 per ounce a year
ago.

-- 1.7 million ounces of silver in the fourth quarter, up 21% from last year's
fourth quarter and up 30% from the third quarter, 2004.

-- Fourth quarter gold production of 24,544 ounces, more than double last
year's fourth quarter production, and 41% higher than the third quarter 2004.

-- Full year 2004 production of 69,456 ounces of gold, up 33% from 2003, and
5.7 million ounces of silver, slightly higher compared to the previous year.

Gold production levels accelerated at Rochester in the fourth quarter due to
leaching of higher-grade gold ores placed on the pad earlier in 2004 and the
completion of the new Stage IV leaching areas, which have allowed for a higher
than normal production rate. Due to the higher gold production in 2004, average
full year cash costs were reduced by 16% from the previous year.

  Coeur Silver Valley - Galena Mine (Idaho)
  -- Fourth quarter silver production of 874,573 ounces.
  -- Average cash cost during quarter of $5.94 per ounce of silver.
  -- Full year silver production of 3.5 million ounces of silver.
  -- Full year average cash costs of $5.46 per ounce of silver.



During 2004 at Silver Valley, drilling at the Galena mine succeeded in defining
approximately 3.0 million new ounces.  Overall, reserves decreased at Galena
due to production, higher operating costs and external smelter and refinery
costs, which resulted in an overall increase in the ore reserve cutoff grade. 
Exploration and development work continued during the year with the target of
developing additional resources with an eventual annual production target of
7.0 million ounces.

In 2004, $1.6 million was spent on exploration activities at the Galena mine,
on seven exploration targets for testing, and added four additional targets in
the year.  New mineralization was discovered at the 4000 Level of the Polaris
Fault and the 2400 Upper Country Silver Vein. Definition drilling also
commenced at the 4300 to 4600 vein target.  Initial drilling on the Deep Coeur
target intersected an extension of the 483 vein in five of eight holes with
thin, high-grade silver (0.9 feet at 51.3 ounces of silver per ton) intersected
in one hole. In addition, Coeur geologists believe that geologic conditions
similar to those at the Galena mine may extend into the adjacent Caladay
property providing future exploration opportunities.

   Development Projects

  San Bartolome - Bolivia


Construction activities commenced at San Bartolome in the fourth quarter of
2004, with a targeted construction start-up in 2006.  Named as General Manager
for the wholly-owned Coeur subsidiary to operate San Bartolome was Americo
Villafuerte, who has managed mining operations for major mines throughout South
America for both large U.S. and other international mining firms.  Coeur has
assembled an international team with a combined 120 years of mining
construction and engineering expertise to build the open pit mining operation
and processing facility.  Construction is currently expected to cost
approximately $135 million, with production startup in 2006. Optimization is
ongoing to lower capital expenditures and operating costs.

Initial average annual production from San Bartolome of approximately 8 million
ounces of silver is expected during the first five years of production at an
anticipated cash operating cost of $3.50 per ounce, designed to generate
significant cash flow for the Company.  The mine has an initial estimated mine
life of 15 years.

Kensington - Alaska

During the fourth quarter, the Kensington gold project received the Record of
Decision ("ROD") for the Final Supplemental Environmental Impact Statement
("FSEIS") by the U.S. Forest Service, a major permitting milestone.  An appeal
to the ROD was filed February 8th with the U.S. Forest Service, which has a 45
day period to respond. The Company believes the appeal is without merit. With
receipt of remaining permits, the Company Board of Directors could make a
construction decision in the first half of 2005. The construction of Kensington
is expected to take eighteen months, with production startup commencing during
2006.

During 2005, Coeur plans to commence a drilling program at Kensington designed
to define 300,000 to 400,000 ounces of new gold reserves., thereby
significantly increasing the initial mine life from the current level of ten
years and to identify higher grade sections of the deposit that might be mined
in the earlier years of the operation. The program is expected to cost
approximately $2.6 million.

Kensington is initially expected to produce approximately 100,000 ounces of
gold annually over its planned ten to fifteen year mine life. Initial direct
capital cost is estimated at $91.5 million and per ounce operating costs are
projected at approximately $220.

Coeur d'Alene Mines Corporation is the world's largest primary silver producer,
as well as a significant, low-cost producer of gold.  The Company has mining
interests in Nevada, Idaho and Alaska in the United States, Argentina, Chile
and Bolivia in South America and Tanzania in Africa.

                     COEUR D'ALENE MINES CORPORATION
                          PRODUCTION STATISTICS

                                  Three Months Ended   Twelve Months Ended
                                     December 31,         December 31,
                                   2004       2003       2004       2003
  ROCHESTER MINE
      Silver ozs.              1,717,646  1,424,392  5,669,074  5,585,385
      Gold ozs.                   24,544     11,126     69,456     52,363
      Cash Costs per oz./silver    $1.97      $4.82      $3.93      $4.67
      Full Costs per oz./silver    $3.53      $5.70      $5.66      $5.58

  GALENA MINE
      Silver ozs.                874,573  1,001,947  3,521,813  3,735,663
      Cash Costs per oz./silver    $5.94      $4.76      $5.46      $4.66
      Full Costs per oz./silver    $6.55      $5.20      $6.02      $5.03

  CERRO BAYO/MARTHA
      Silver ozs.              1,749,380  1,092,901  4,944,261  4,868,854
      Gold ozs.                   22,511     14,982     59,876     67,155
      Cash Costs per oz./silver    $0.60      $0.52      $2.07      $0.60
      Full Costs per oz./silver    $1.12      $2.19      $3.33      $2.53

  CONSOLIDATED TOTALS
      Silver ozs.              4,341,599  3,519,240 14,135,148 14,189,902
      Gold ozs.                   47,055     26,108    129,332    119,518
      Cash Costs per oz./silver    $2.22      $3.47      $3.66      $3.27
      Full Costs per oz./silver    $3.17      $4.47      $4.94      $4.39

      Silver ozs. sold         3,942,239  3,996,513 13,263,330 14,894,210
      Gold ozs. sold              42,588     29,655    115,996    126,942
      Average realized silver
       price/oz. (restated) (A)    $7.08      $5.12      $6.82      $4.89
      Average realized gold
       price/oz. (restated) (A)     $427       $365       $410       $345



(A) Historically, the Company has recorded revenue from concentrate sales
agreements based on the gold and silver prices prevailing at the time risk of
loss and title to the concentrate passes to third-party smelters (at the lower
of month-end spot price or the average monthly price for that month). The final
settlement price is not fixed until a later date (typically one to three months
after shipment) based upon quoted metal prices by an established metal exchange
as set forth in each contract, at such date.  The Company's provisionally
priced sales contain an embedded derivative that is required to be separated
from the host contract for accounting purposes.  The host contract is the
receivable from the sale of concentrates measured at the forward price at the
time of sale.  The embedded derivative does not qualify for hedge accounting. 
The embedded derivative is recorded as a derivative asset, in prepaid expenses
and other or, a derivative liability on the balance sheet and is adjusted to
fair value through revenue each period until the date of final gold and silver
settlement.  The Company has corrected the error in valuing these embedded
derivatives on the financial statements for the three and twelve month periods
ending December 31, 2004.  In addition, the restatement resulted in an increase
in the realized price of silver of $0.06 per ounce and a decrease in the
realized price of gold of $6.00 per ounce for the fourth quarter of 2004.  For
the year ended December 31, 2003, the restatement resulted in an increase in
the realized price of silver of $0.02 per ounce and in increase in the realized
price of gold of $1.00 per ounce.

"Cash Costs per Ounce" are calculated by dividing the cash costs computed for
each of the Company's mining properties for a specified period by the amount of
gold ounces or silver ounces produced by that property during that same period.
 Management uses cash costs per ounce as a key indicator of the profitability
of each of its mining properties.  Gold and silver are sold and priced in the
world financial markets on a US dollar per ounce basis.  By calculating the
cash costs from each of the Company's mines on the same unit basis, management
can easily determine the gross margin that each ounce of gold and silver
produced is generating.

"Cash Costs" are costs directly related to the physical activities of producing
silver and gold, and include mining, processing and other plant costs,
third-party refining and smelting costs, marketing expense, on-site general and
administrative costs, royalties, in-mine drilling expenditures that are related
to production and other direct costs.  Sales of by-product metals are deducted
from the above in computing cash costs.  Cash costs exclude depreciation,
depletion and amortization, corporate general and administrative expense,
exploration, interest, and pre-feasibility costs and accruals for mine
reclamation.  Cash costs calculated and presented using the "Gold Institute
Production Cost Standard" applied consistently for all periods presented.

Total cash costs per ounce is a non-GAAP measurement and you are cautioned not
to place undue reliance on it and are urged to read all GAAP accounting
disclosures presented in the consolidated financial statements and accompanying
footnotes.  In addition, see the reconciliation of "cash costs" to production
costs set forth below.

   Year ended December 31, 2004
   (In thousands except ounces and per ounce costs)

                                                    Cerro Bayo/
                            Rochester    Galena      Martha      Total

  Production of
   Silver (ounces)         5,669,074   3,521,813   4,944,261  14,135,148
  Cash Costs per ounce         $3.93       $5.46       $2.07       $3.66

  Total Cash Costs (000's)   $22,287     $19,231     $10,228     $51,746
  Add/Subtract:
  Third Party Smelting Costs    (923)     (5,499)     (6,250)    (12,672)
  By-Product Credit           28,646       3,766      24,796      57,208
  Deferred
   Stripping Adjustment         (403)        523         110        (292)
  Change in Inventory        (13,380)        756      (3,576)    (16,200)

  Production Costs (GAAP)    $36,227     $18,255     $25,308     $79,790


  Year ended December 31, 2003
  (In thousands except ounces and per ounce costs)
                                                    Cerro Bayo/
                            Rochester    Galena      Martha      Total

  Production of
   Silver (ounces)         5,585,385   3,735,663   4,868,854  14,189,902
  Cash Costs per ounce         $4.67       $4.66       $0.60       $3.27

  Total Cash Costs (000's)   $26,062     $17,392      $2,911     $46,365
  Add/Subtract:
  Third Party Smelting Costs    (811)     (4,939)     (4,675)    (10,425)
  By-Product Credit           18,980       2,256      24,383      45,619
  Deferred
   Stripping Adjustment         (322)         --          --        (322)
  Change in Inventory         (5,149)       (165)      1,938      (3,376)

  Production Costs (GAAP)    $38,760     $14,544     $24,557     $77,861


  Three Months Ended December 31, 2004
  (In thousands except ounces and per ounce costs)

                                                    Cerro Bayo/
                            Rochester    Galena      Martha      Total

  Production of
   Silver (ounces)         1,717,646     874,573   1,749,380   4,341,599
  Cash Costs per ounce         $1.97       $5.94       $0.60       $2.22

  Total Cash Costs            $3,386      $5,192      $1,058      $9,636
  Add/Subtract:
  Third Party Smelting Costs    (267)     (1,581)     (2,163)     (4,011)
  By-Product Credit           10,678       1,207       9,818      21,703
  Deferred
   Stripping Adjustment         (101)          1          51         (49)
  Change in Inventory         (1,141)        441         883         183

  Production Costs (GAAP)    $12,555      $5,260      $9,647     $27,462


  Three Months Ended December 31, 2003
  (In thousands except ounces and per ounce costs)

                                                    Cerro Bayo/
                            Rochester    Galena      Martha      Total

  Production of
   Silver (ounces)         1,424,392   1,001,947   1,092,901   3,519,240
  Cash Costs per ounce         $4.82       $4.76       $0.52       $3.47

  Total Cash Costs            $6,866      $4,769        $563     $12,198
  Add/Subtract:
  Third Party Smelting Costs    (211)     (1,409)       (904)     (2,524)
  By-Product Credit            4,364         673       5,880      10,917
  Deferred
   Stripping Adjustment          (80)         --          --         (80)
  Change in Inventory         (1,036)       (144)      2,790       1,610

  Production Costs (GAAP)     $9,903      $3,889      $8,329     $22,121


                       CONSOLIDATED BALANCE SHEETS
             COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES
                               (Unaudited)
                                                        December 31,
                                                    2004           2003
  ASSETS                                              (In Thousands)
                                                                 Restated

  CURRENT ASSETS
      Cash and cash equivalents                   $273,079        $62,417
      Short-term investments                        48,993         19,265
      Receivables                                   10,634          8,103
      Ore on leach pad                              15,046         17,388
      Metal and other inventory                     17,639         12,535
      Deferred tax assets                            5,336             --
      Prepaid expenses and other                     3,727          3,067
                                                   374,454        122,775


  PROPERTY, PLANT AND EQUIPMENT
      Property, plant and equipment                 85,070         87,546
      Less accumulated depreciation                (54,154)       (52,868)
                                                    30,916         34,678

  MINING PROPERTIES
      Operational mining properties                121,344        114,018
      Less accumulated depletion                  (100,079)       (90,245)
                                                    21,265         23,773
      Mineral interests                             20,125         20,125
      Non-producing and development properties      26,071         25,121
                                                    67,461         69,019

  OTHER ASSETS
      Non-current ore on leach pad                  28,740         14,705
      Restricted cash and cash equivalents          10,847          8,710
      Debt issuance costs, net                       5,757             87
      Marketable securities                             34             19
      Deferred tax assets                            3,730             --
      Other                                          8,501          9,474
                                                    57,609         32,995
          TOTAL ASSETS                            $530,440       $259,467


                       CONSOLIDATED BALANCE SHEETS
             COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES
                               (Unaudited)

                                                       December 31,
                                                    2004          2003
                                                      (In Thousands)
                                                                 Restated
  LIABILITIES AND SHAREHOLDERS' EQUITY

  CURRENT LIABILITIES
      Accounts payable                              $8,389         $7,772
      Accrued liabilities and other                  5,192          5,218
      Accrued interest payable                       1,035            120
      Accrued salaries and wages                     6,379          5,705
      Current portion of remediation costs           1,041          1,278
      Current portion of bank financing                114          2,367
                                                    22,150         22,460
  LONG-TERM LIABILITIES
      1 1/4% Convertible Senior Notes
       due January 2024                            180,000             --
      7 1/4% Convertible Subordinated Debentures
       due October 2005                                 --          9,563
      Reclamation and mine closure                  23,670         20,934
      Other long-term liabilities                    6,503          9,032
                                                   210,173         39,529
  COMMITMENTS AND CONTINGENCIES


  SHAREHOLDERS' EQUITY
      Common Stock, par value $1.00 per
       share-authorized 500,000,000 shares,
       issued 241,028,303 and 214,195,186 in
       2004 and 2003 (1,059,211 shares held
       in treasury)                                241,028        214,195
      Additional paid-in capital                   629,809        542,900
      Accumulated deficit                         (557,245)      (545,050)
      Shares held in treasury                      (13,190)       (13,190)
      Accumulated other comprehensive loss          (2,285)        (1,377)
                                                   298,117        197,478
  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY      $530,440       $259,467


                  CONSOLIDATED STATEMENTS OF OPERATIONS
             COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES
     FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2004 AND 2003
                               (Unaudited)


                                    3 Months Ended       12 Months Ended
                                     December 31,         December 31,
                                   2004       2003      2004       2003
                                 (In thousands except for per share data)
                                           (Restated)          (Restated)
  REVENUES
  Sales of metal                 $44,002    $30,277   $130,245   $108,522
  Interest and other               2,064        948      3,205      2,019
      Total revenues              46,066     31,225    133,450    110,541

  COSTS and Expenses
  Production                      27,462     22,121     79,790     77,861
  Depreciation and depletion       4,319      3,672     18,800     16,627
  Administrative and general       4,556      4,023     14,497     12,264
  Exploration                      2,812      1,580     11,068      4,947
  Pre-development                  2,681        738     11,449      1,967
  Interest                           574      2,126      2,831     12,851
  Write-down of mining
   properties and other              377      2,222      1,983      6,393
  Merger expenses                    781         --     15,675         --
  Loss on exchange and
   early retirement of debt           --      7,607         --     41,564
      Total cost and expenses     43,562     44,089    156,093    174,474

  NET INCOME (LOSS)
   FROM CONTINUING OPERATIONS      2,504    (12,864)   (22,643)   (63,933)
  Income tax benefit              10,448         --     10,448          7
  NET INCOME (LOSS) BEFORE
   CUMULATIVE CHANGE IN
   ACCOUNTING PRINCIPLE           12,952    (12,864)   (12,195)   (63,926)
  Cumulative effect of change
   in accounting principle            --         --         --     (2,306)
  NET INCOME (LOSS)               12,952    (12,864)   (12,195)   (66,232)
  Other comprehensive loss          (382)      (237)      (908)      (556)
  COMPREHENSIVE INCOME (LOSS)    $12,570   $(13,101)  $(13,103)  $(66,788)

  BASIC INCOME (LOSS) PER SHARE:
  Net income (loss) before
   cumulative effect
   of accounting change            $0.06     $(0.06)    $(0.06)    $(0.38)
  Cumulative effect of
   accounting change                  --         --         --     (0.01)

  Net income (loss)                $0.06     $(0.06)    $(0.06)    $(0.39)

  DILUTED INCOME (LOSS) PER SHARE:
  Net income (loss) before
   cumulative effect of
   accounting change               $0.05     $(0.06)    $(0.06)    $(0.38)
  Cumulative effect
   of accounting change               --         --         --     (0.01)
  Net income (loss)                $0.05     $(0.06)    $(0.06)    $(0.39)

  Weighted average common shares outstanding:
  Basic                          224,163    211,232    215,969    168,186
  Diluted                        248,747    211,232    215,969    168,186


                  CONSOLIDATED STATEMENTS OF CASH FLOWS
             COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES
     FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2004 AND 2003
                               (Unaudited)


                                    3 Months Ended      12 Months Ended
                                     December 31,         December 31,
                                   2004       2003      2004       2003
                                               (In thousands)
                                           (Restated)           (Restated)
  CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income (loss)              $12,952   $(12,864)  $(12,195)  $(66,232)
    Add (deduct) noncash items:
      Depreciation and depletion   4,319      3,672     18,800     16,627
      Deferred income taxes       (9,066)        --     (9,066)        --
      Loss (gain) on
       early retirement of debt       --      7,607         --     41,564
      Cumulative effective
       of change in
       accounting principle           --         --         --      2,306
      Interest expense on
       Convertible Senior
       Subordinated Notes
       paid in Common Stock           --         --         --      8,191
      Unrealized loss (gain)
       on embedded derivative        520       (757)       881       (411)
      Amortization of restricted
       stock compensation            143        390      1,137        911
      Amortization of
       debt issuance costs            76        320        408        697
      Amortization of
       premium and/or discount       331        447      1,527        760

      Other charges                    5         --         (7)       (19)
       (Gain) loss on sale of assets (61)        --        (11)        --
      Gain on sale of
       short-term investment          --         63         --        (40)
    Changes in Operating
     Assets and Liabilities:
      Receivables                 (3,742)    (2,490)    (2,532)    (2,738)
      Prepaid expenses and other    (107)       (46)      (486)    (3,844)
      Inventories                    156      1,398    (16,798)    (3,226)
      Accounts payable and
       accrued liabilities       (10,045)     1,668       (239)       328
      CASH USED IN
       OPERATING ACTIVITIES       (4,519)      (592)   (18,581)    (5,126)

  CASH FLOWS FROM INVESTING ACTIVITIES:
      Purchases of
       short-term investments     (3,670)   (17,527)   (63,619)   (99,782)
      Proceeds from sales of
       short-term investments      6,632      6,040     29,864     86,168
      Proceeds from sale of assets    68        370        329        370
      Capital expenditures        (4,656)    (4,812)   (10,514)   (19,914)
      Other                          137       (421)       153       (196)
      CASH USED IN
       INVESTING ACTIVITIES       (1,489)   (16,350)   (43,787)   (33,354)

  CASH FLOWS FROM FINANCING ACTIVITIES:
      Retirement of long-term debt    --    (17,264)    (9,561)   (39,717)
      Proceeds from issuance
       of common stock, net of
       issuance costs            113,111     13,326    112,604    100,810
      Proceeds from issuance
       of long-term debt              --         --    180,000     33,280
      Payments of debt
       issuance costs                 --         --     (6,089)        --
      Bank Borrowings on
       working capital facility       --      7,917      6,056     30,785
      Payments to bank on
       working capital facility       --    (11,512)    (8,422)   (33,226)
      Other                          (80)       (33)    (1,558)      (128)
      CASH PROVIDED BY (USED IN)
       FINANCING ACTIVITIES:     113,031     (7,566)   273,030     91,804

  INCREASE (DECREASE) IN CASH AND
      CASH EQUIVALENTS           107,023    (24,508)   210,662     53,324

      Cash and cash
       equivalents at
       beginning of period       166,056     86,925     62,417      9,093
      Cash and cash
       equivalents at end
       of period                $273,079    $62,417   $273,079    $62,417




During the year ending December 31, 2003, holders of $12.7 million principal
amount of the Series I 13 3/8% Convertible Senior Subordinated Notes due
December 31, 2003 (the "Series I 13 3/8% Notes") voluntarily converted such
notes into approximately 9.4 million shares of common stock.  In addition, 0.2
million shares of common stock were issued as payment for $0.3 million of
interest expense on the Series I 13 3/8% Notes.

During the year ending December 31, 2003 the Company exchanged $32.6 million,
$27.9 million and $2.1 million principal amount of its outstanding 9% Senior
convertible Notes and 6-3/8% and 7-1/4% Convertible Subordinated Debentures,
respectively, for 40.9 million shares of common stock and recorded a loss of
approximately $33.9 million.  In addition, 5.1 million shares of common stock
were issued as payment for $8.1 million of interest expense on these Notes and
Debentures.

                     Proven Reserves (Year-end 2004)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA   21,453      0.87    0.01    18,662    195
  Silver Valley  Idaho, USA       395     18.58      --     7,346     --
  Cerro Bayo     Chile            336      7.53    0.13     2,533     43
  Martha         Argentina         15     51.90    0.07       801      1
  San Bartolome  Bolivia           --        --      --        --     --
  Kensington     Alaska, USA       --        --      --        --     --
                               22,200                      29,342    239

                      Probable Reserves (Year-end 2004)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA    2,545      0.81    0.01     2,069     18
  Silver Valley  Idaho, USA       322     19.15      --     6,172     --
  Cerro Bayo     Chile            526      6.80    0.14     3,576     73
  Martha         Argentina         42     74.70    0.08     3,129      4
  San Bartolome  Bolivia       46,176      3.29      --   151,882     --
  Kensington     Alaska, USA    4,206        --    0.25        --  1,050
                               53,817                     166,828  1,144

                      Measured Resource (Year-end 2004)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA   26,205      8.81    0.01    21,216    144
  Silver Valley  Idaho, USA       577     11.10      --     6,407     --
  Cerro Bayo     Chile            643      5.74    0.10     3,691     65
  Martha         Argentina         21     53.72    0.06     1,125      1
  San Bartolome  Bolivia           --        --      --        --     --
  Kensington     Alaska, USA       --        --      --        --     --
                               27,446                      32,439    210

                      Indicated Resource (Year-end 2004)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA    8,551      0.96    0.01     8,243     41
  Silver Valley  Idaho, USA       553     11.93      --     6,603     --
  Cerro Bayo     Chile          1,598       3.3    0.07     5,271    111
  Martha         Argentina         20        38    0.05       754      1
  San Bartolome  Bolivia           70      2.29      --       160     --
  Kensington     Alaska, USA      617        --    0.44        --    269
                               11,409                      21,031    422

                      Inferred Resource (Year-end 2004)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA      308      1.73    0.00       533      1
  Silver Valley  Idaho, USA     1,038     10.28      --    10,674     --
  Cerro Bayo     Chile          1,588      4.70    0.08     7,462    133
  Martha         Argentina         33     60.99    0.06     2,017      2
  San Bartolome  Bolivia        1,096      3.52      --     3,851     --
  Kensington     Alaska, USA    2,499        --    0.23        --    584
                                6,562                      24,537    720

  Resources are exclusive of reserves.

                       Proven Reserves (Year-end 2003)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA   29,912      0.90    0.01    27,041    265
  Silver Valley  Idaho, USA       368     22.25      --     8,193     --
  Cerro Bayo     Chile            293      8.12    0.15     2,376     45
  Martha         Argentina         10     94.03    0.10       901      1
  San Bartolome  Bolivia           --        --      --        --     --
  Kensington     Alaska, USA       --        --      --        --     --
                               30,583                      38,510    311

                      Probable Reserves (Year-end 2003)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA    2,651      0.96    0.01     2,555     18
  Silver Valley  Idaho, USA       348     20.79      --     7,239     --
  Cerro Bayo     Chile            352      8.52    0.14     3,001     49
  Martha         Argentina          7     68.56    0.07       448    0.5
  San Bartolome  Bolivia       35,274      3.48      --   122,816     --
  Kensington     Alaska, USA    4,113        --    0.24        --  1,003
                               42,745                     136,060  1,070

                      Measured Resource (Year-end 2003)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA   33,238      0.76    0.01    25,216    184
  Silver Valley  Idaho, USA       607     10.77      --     6,539     --
  Cerro Bayo     Chile            170     11.00    0.17     1,867     29
  Martha         Argentina          1     94.61    0.05        73   0.04
  San Bartolome  Bolivia           --        --      --        --     --
  Kensington     Alaska, USA       --        --      --        --     --
                               34,016                      33,695    213

                      Indicated Resource (Year-end 2003)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA    6,954      0.82    0.01     5,721     38
  Silver Valley  Idaho, USA       576     11.65      --     6,709     --
  Cerro Bayo     Chile          2,520      3.75    0.08     9,455    212
  Martha         Argentina          2     99.17    0.05       208    0.1
  San Bartolome  Bolivia           --        --      --        --     --
  Kensington     Alaska, USA      617        --    0.44        --    269
                               10,669                      22,093    519

                      Inferred Resource (Year-end 2003)
                              Short    Grade (ounces/ton)   Ounces (000s)
  Property        Location Tons (000s)  Silver    Gold    Silver    Gold

  Rochester      Nevada, USA      135      1.85    0.00       252    0.3
  Silver Valley  Idaho, USA     1,096     10.87      --    11,914     --
  Cerro Bayo     Chile            786      6.95    0.12     5,461     91
  Martha         Argentina         21     75.61    0.09     1,567    1.8
  San Bartolome  Bolivia          262      3.77      --       990     --
  Kensington     Alaska, USA    2,499        --    0.23        --    584
                                4,799                      20,184    677

  Resources are exclusive of reserves.




The Company's fourth quarter earnings conference call and web cast will be held
on March 14, 2005 beginning at 1:00 p.m. Eastern time.  To participate:

   Dial-In Number:     [phone] (US and Canada)
                       [phone] (International)
   Host:               Dennis E. Wheeler



The conference call will also be simultaneously carried on our web site at
http://www.coeur.com/ under Investor Relations/Presentations and will be
archived for a limited time.

  Investor Contact
   Tony Ebersole
   Director of Investor Relations
   Telephone: [phone]
   Email: 

  Cautionary Statement


This document contains numerous forward-looking statements within the meaning
of securities legislation in the United States and Canada relating to the
Company's silver and gold mining business. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside the Company's
control.  Operating, exploration and financial data, and other statements in
this document are based on information the Company believes reasonable, but
involve significant uncertainties as to future gold and silver prices, costs,
ore grades, estimation of gold and silver reserves, mining and processing
conditions, currency exchange rates, and the completion and/or updating of
mining feasibility studies, changes that could result from the Company's future
acquisition of new mining properties or businesses, the risks and hazards
inherent in the mining business (including environmental hazards, industrial
accidents, weather or geologically related conditions), regulatory and
permitting matters, risks inherent in the ownership and operation of, or
investment in, mining properties or businesses in foreign countries, as well as
other uncertainties and risk factors set out in the Company's filings from time
to time with the SEC and the Ontario Securities Commission, including, without
limitation, the Company's reports on Form 10-K and Form 10-Q.  Actual results
and timetables could vary significantly from the estimates presented. Readers
are cautioned not to put undue reliance on forward-looking statements. The
Company disclaims any intent or obligation to update publicly these
forward-looking statements, whether as a result of new information, future
events or otherwise.

Donald J. Birak, Coeur's Senior Vice President of Exploration is the qualified
person responsible for the preparation of the scientific and technical
information in this press release.  Mr. Birak has reviewed the available data
and procedures and believes the calculation of reserves was conducted in a
professional and competent manner. 

DATASOURCE: Coeur d'Alene Mines Corporation



CONTACT:  Tony Ebersole, Director of Investor Relations of Coeur d'Alene

Mines Corporation, 800-523-1535, or 



Web site:  http://www.coeur.com/

Copyright