Coeur Reports Record Results for Fourth Quarter 2005; Forecasts 30% Increase in Silver Production in 2006; Provides Update on T

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-- HIGHLIGHTS -- COEUR D'ALENE, Idaho, March 7 /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 record quarterly net income of $9.9 million, or $0.04 per diluted share, for the fourth quarter of 2005, compared to net income of $8.3 million, or $0.03 per diluted share, for the year-ago period. Results for the year-ago quarter included a tax benefit of $5.8 million. For the full year 2005, the company reported net income of $10.6 million, or $0.04 per diluted share, compared to a net loss of $16.9 million, or $0.08 per diluted share, for 2004. Revenues for the fourth quarter and full year of 2005 reached all-time highs. Revenue for the fourth quarter of 2005 was $54.8 million, a 22 percent increase compared to revenue of $44.8 million in the year-ago period. Revenue for the full year of 2005 was $172.3 million, a 30 percent increase compared to revenue of $132.8 million in the year-ago period. In commenting on the company's performance, Dennis E. Wheeler, Chairman, President and Chief Executive Officer, said, "The company reported an all-time record level of quarterly net income in the fourth quarter of 2005 due in large measure to solid overall operating performance in a market characterized by strong demand and robust price levels." Wheeler added, "We are seeing the benefits of our strategy to significantly increase our low-cost production ounces, reserves, cash flow and resulting earnings, a strategy that was strengthened by our 2005 Australian acquisitions. Our cash cost per ounce of silver remained very competitive and actually showed a 30 percent decline during the second half of 2005 as compared with the first six months of the year." Coeur currently expects 2006 silver production to be approximately 18 million ounces, a 31 percent increase over the level of 2005, and depending on the outcome of the company's review of strategic alternatives for Coeur Silver Valley in Idaho. The company expects a consolidated silver cash cost per ounce of approximately $4.11 per ounce, approximately 4 percent below the consolidated cash cost for 2005. The company expects full-year gold production to be approximately 129,000 ounces. Highlights by Individual Property * Cerro Bayo (Chile) - At a silver cash cost of $0.54 per ounce for 2005, Cerro Bayo remained the lowest-cost mine in Coeur's system. Coeur's exploration efforts during 2005 at Cerro Bayo were extremely successful, increasing proven and probable silver mineral reserves by 22 percent and gold by 14 percent. In addition, measured and indicated silver mineral resources increased by 12 percent and inferred by 107 percent, while measured and indicated gold mineral resources increased by 18 percent and inferred by 59 percent -- all compared to year-end 2004 levels. Fourth quarter silver production continued a trend of successively higher quarterly production during 2005, and was 18 percent above production in the first quarter of the year due to improved grade. Silver and gold production in the fourth quarter of 2005 were below the unusually high levels of the year-ago quarter due to fewer tons mined. * Martha (Argentina) - silver production in the fourth quarter of 2005 was up 9 percent relative to the year-ago quarter. Silver cash cost per ounce was generally consistent at $4.60 during the year. Despite record production levels in 2005, Coeur increased silver proven and probable mineral reserves at Martha during the year, and more than doubled its inferred silver mineral resource. * Endeavor (Australia) - Since Coeur's acquisition of the Endeavor mine's silver reserves and production in May of 2005, the property contributed 316,169 silver ounces at a low cash cost per ounce of $2.05. Silver production in the fourth quarter of 2005 was affected by an uncontrolled rock fall that limited mining activity and affected cash cost per ounce. Coeur expects 2006 production to approach an annual rate of approximately 1 million ounces, with more than half of that amount coming in the second half of the year. (Year-ago comparisons for Endeavor are not meaningful because the mineral interest was acquired in the second quarter of 2005.) In addition to providing low-cost silver production, Endeavor contributed more than 23 million ounces to Coeur's proven and probable mineral reserves. * Broken Hill (Australia) - Since Coeur's acquisition of the Broken Hill mine's silver reserves and production in September of 2005, the property contributed 657,093 ounces of silver production at a low cash cost per ounce of $2.72. Silver production in the fourth quarter was 574,083 ounces. (Year-ago comparisons for Broken Hill are not meaningful because the mineral interest was acquired in the third quarter of 2005.) In addition to providing low-cost silver production, Broken Hill contributed nearly 15 million ounces to Coeur's proven and probable mineral reserves. * Rochester (Nevada) - This property had an exceptionally strong second half of the year, with silver production 44 percent above that of the first half of 2005, and gold production 48 percent above the level of the first half. Additionally, silver cash cost per ounce declined 52 percent during the second half of 2005, despite an upward trend in the price of energy and steel. Silver and gold production for the fourth quarter were modestly below the levels of a year-ago due to fewer tons mined. * Galena (Coeur Silver Valley, Idaho) - Silver production for the fourth quarter of 2005 was below that of the fourth quarter of 2004 due to lower than expected ore grades and shorter vein lengths in certain areas of the mine. The same factors caused an increase in cash cost per ounce of silver for the fourth quarter of 2005 relative to the year-ago period. However, over the course of the fourth quarter and into early 2006, Galena has reported a trend of improved monthly production and indications of higher ore grades. As previously disclosed, the company is evaluating strategic alternatives for Galena and the associated assets of Coeur Silver Valley. The company has said those alternatives could include a possible sale of this subsidiary. Increase in Proven and Probable Silver Reserves As of January 1, 2006, the company's proven and probable silver mineral reserves total 221.4 million ounces, a 13 percent increase relative to the level of January 1, 2005, largely due to increases at the company's South American properties and the acquisitions in Australia. Proven and probable gold mineral reserves at January 1, 2006 were 1.3 million ounces, and the company remains optimistic for expansion of gold reserves due to ongoing exploration drilling at Kensington, where Coeur has focused on further definition and expansion of its mineral resources and reserves. Capital Investment and Balance Sheet Highlights The company had $240.4 million in cash and short-term investments as of December 31, 2005. Capital spending during the fourth quarter of 2005 totaled $31.7 million, primarily associated with the Kensington gold mine. For the full year 2005, capital investment totaled $116.8 million, primarily associated with Kensington and the acquisitions of the Endeavor and Broken Hill assets in Australia. The company currently expects capital investment in 2006 to approximate $182 million, primarily associated with Kensington, the resumption of a more aggressive construction schedule at the San Bartolome silver mine in Bolivia, and the remaining payment on the Endeavor acquisition. Update on Kensington Gold Project (Alaska) As previously announced, the U.S. Army Corps of Engineers temporarily suspended the mine's Section 404. However, the company has continued to conduct construction activities not governed by the Section 404 permit. The Company believes the permit will be reinstated upon completion of the review, which is expected in the first quarter of 2006. Due to a broad increase in the cost of materials and supplies impacting the industry in general, the company retained an independent engineering firm to review its capital cost estimate for Kensington during the fourth quarter of 2005. As a result of increased earthwork requirements, increased storm water management programs, the costs associated with challenges to the project's permits, and the general increase in commodity prices, the company currently estimates the total cost of construction to be approximately $190 million. The project is expected to have an annual production rate of 100,000 ounces and the estimated cash operating cost per ounce is expected to be $250. The company expects Kensington capital investment to total approximately $77 million during 2006. The company currently expects that Kensington can begin operations during 2007. During the second half of 2005, the company began an extensive exploration program at Kensington designed to increase the size and geologic continuity of gold mineralization currently in indicated and inferred mineral resources. The company completed 34,000 feet of core drilling from 74 drill holes. Of these holes, 87 percent encountered gold mineralization equal to or greater than 0.12 ounces per ton, the cut-off for its mineral resources. In addition, 5,000 feet of core drilling was completed on its adjacent Jualin property. The company continues to drill at both properties and expects to update its mineral reserves and mineral resources at Kensington during 2006 as information is received. Update on San Bartolome Silver Project (Bolivia) An updated project review has confirmed the $135 million capital cost estimates for the project, which is expected to produce 6 to 8 million annual ounces of silver at a cash cost of $3.50 per ounce. The Bolivian national election was recently completed without the necessity for a runoff, with the election of President Evo Morales. The Company is targeting mid-year 2006 as the date to resume full scale construction activities at the site. Additional construction work planned for the first half of 2006 includes the construction of access roads to and around the site, rough-cut grading of the mill site, construction of ore stockpile areas, and the construction of a fence around the perimeter of the plant site area. Coeur d'Alene Mines Corporation is the world's largest primary silver producer and a growing gold producer. The Company has mining interests in Alaska, Argentina, Australia, Bolivia, Chile, Nevada, and Idaho. Conference Call Information Coeur d'Alene Mines Corporation will hold a conference call to discuss the Company's fourth quarter 2005 results at 1 p.m. Eastern time on March 7, 2006. To listen live via telephone, call (800) 811-7286 (US and Canada) or (913) 981-4902 (International). The conference call and presentation will also be web cast on the Company's web site http://www.coeur.com/. A replay of the call will be available through March 13, 2006. The replay dial-in numbers are (888) 203-1112 (US and Canada) and (719) 457-0820 (International) and the access code is 6145142. Cautionary Statement Company press releases may contain 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 such forward-looking statements, whether as a result of new information, future events or otherwise. Contact: Scott Lamb 208-665-0777 COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Three Months Ended Twelve Months Ended December 31, December 31, 2005 2004 2005 2004 (In Thousands, except per share data) REVENUES Sales of metal $54,793 $ 44,766 $172,336 $132,807 COSTS and Expenses Production costs applicable to sales 31,897 28,225 104,930 82,352 Depreciation and depletion 6,513 4,319 20,885 18,800 Administrative and general 4,806 4,720 19,417 15,914 Exploration 2,564 2,648 11,914 9,651 Pre-development 5 2,681 6,057 11,449 Write-down of mining properties and other holding costs 793 377 1,379 1,983 Litigation settlement -- -- 1,600 -- Total cost and expenses 46,578 42,970 166,182 140,149 OTHER INCOME AND EXPENSE Interest and other income 3,015 2,063 8,365 3,205 Interest expense, net of capitalized interest (616) (574) (2,485) (2,831) Merger expenses -- (781) -- (15,675) Total other income and expense 2,399 708 5,880 (15,301) INCOME (LOSS) FROM CONTINUING OPERATIONS 10,614 2,504 12,034 (22,643) Income tax (provision) benefit (670) 5,785 (1,483) 5,785 NET INCOME (LOSS) 9,944 8,289 10,551 (16,858) Other comprehensive income (loss) 192 (382) 447 (908) COMPREHENSIVE INCOME (LOSS) $10,136 $7,907 $10,998 $(17,766) BASIC AND DILUTED INCOME (LOSS) PER SHARE: Income (loss) per share Net income (loss) $0.04 $0.04 $0.04 $(0.08) Diluted income (loss) per share: Net income (loss) $0.04 $0.03 $0.04 $(0.08) Weighted average number of shares of common stock Basic 249,868 224,163 242,915 215,969 Diluted 274,384 248,747 243,683 215,969 COEUR D'ALENE MINES CORPORATION PRODUCTION STATISTICS Three Months Ended Twelve Months Ended December 31, December 31, 2005 2004 2005 2004 ROCHESTER MINE Silver ozs. 1,666,958 1,717,646 5,720,489 5,669,074 Gold ozs. 20,458 24,544 70,298 69,456 Cash Costs per oz./silver $3.02 $1.97 $4.82 $3.93 Full Costs per oz./silver $4.66 $3.52 $6.66 $5.66 GALENA MINE (COEUR SILVER VALLEY) Silver ozs. 330,537 874,573 2,060,338 3,521,813 Gold ozs. 77 88 282 354 Cash Costs per oz./silver $12.40 $5.94 $8.37 $5.46 Full Costs per oz./silver $13.88 $6.55 $9.34 $6.02 CERRO BAYO MINE Silver ozs. 781,083 1,256,428 2,875,047 3,235,192 Gold ozs. 14,347 21,837 61,058 57,558 Cash Costs per oz./silver $1.09 $(1.05) $0.54 $1.01 Full Costs per oz./silver $3.18 $(0.77) $2.30 $2.43 MARTHA MINE Silver ozs. 538,411 492,952 2,093,464 1,709,069 Gold ozs. 657 674 2,589 2,318 Cash costs per oz./silver $4.84 $4.81 $4.60 $4.08 Full costs per oz./silver $5.29 $5.95 $5.01 $5.05 ENDEAVOR MINE (A) Silver ozs. 37,091 -- 316,169 -- Cash Costs per oz./silver $2.89 -- $2.05 -- Full Costs per oz./silver $4.64 -- $3.35 -- BROKEN HILL MINE (A) Silver ozs. 574,083 -- 657,093 -- Cash costs per oz./silver $2.73 -- $2.72 -- Full costs per oz./silver $5.60 -- $5.47 -- CONSOLIDATED PRODUCTION TOTALS Silver ozs. 3,928,163 4,341,599 13,722,600 14,135,148 Gold ozs. 35,538 47,143 134,227 129,686 Cash costs per oz./silver $3.63 $2.22 $4.26 $3.66 Full costs per oz./silver $5.37 $3.17 $5.77 $4.94 CONSOLIDATED SALES TOTAL Silver ozs. sold 4,253,170 3,949,650 14,707,933 13,354,961 Gold ozs. sold 39,233 42,989 146,749 117,257 Realized price per silver oz. $8.23 $7.20 $7.44 $6.82 Realized price per gold oz. $497 $427 $452 $409 (A) The Company acquired its interests in the Endeavor and Broken Hill mines in May 2005 and September 2005, respectively. The following tables present reconciliation between Non-GAAP cash costs per ounce to GAAP production costs: Year Ended December 31, 2005 (In thousands except ounces and per ounce costs) Rochester Galena Cerro Bayo Martha Production of Silver (ounces) 5,720,489 2,060,338 2,875,047 2,093,464 Cash Costs per ounce $4.82 $8.37 $0.54 $4.60 Total Cash Costs $27,575 $17,248 $1,542 $9,637 Add/Subtract: Third Party Smelting Costs -- (3,091) (2,783) (1,165) By-Product Credit 31,601 2,722 27,114 1,152 Deferred Stripping Adjustment 140 -- -- -- Change in Inventory (14,769) (181) 7,421 (328) Production costs applicable to sales $44,547 $16,698 $33,294 $9,296 Year Ended December 31, 2005 (In thousands except ounces and per ounce costs) Endeavor Broken Hill Total Production of Silver (ounces) 316,169 657,093 13,722,600 Cash Costs per ounce $2.05 $2.72 $4.26 Total Cash Costs $648 $1,790 $58,440 Add/Subtract: Third Party Smelting Costs (370) (570) (7,979) By-Product Credit -- -- 62,589 Deferred Stripping Adjustment -- -- 140 Change in Inventory -- (403) (8,260) Production costs applicable to sales $278 $817 $104,930 Year ended December 31, 2004 (In thousands except ounces and per ounce costs) Rochester Galena Cerro Bayo Martha Production of Silver (ounces) 5,669,074 3,521,813 3,235,192 1,709,069 Cash Costs per ounce $3.93 $5.46 $1.01 $4.08 Total Cash Costs (000's) $22,287 $19,231 $3,253 $6,975 Add/Subtract: Third Party Smelting Costs -- (5,117) (4,106) (887) By-Product Credit 28,646 3,766 23,845 951 Deferred Stripping Adjustment (403) 1 110 -- Change in Inventory (13,380) 756 (3,212) (364) Production costs applicable to sales $37,150 $18,637 $19,890 $6,675 Year ended December 31, 2004 (In thousands except ounces and per ounce costs) Endeavor Broken Hill Total Production of Silver (ounces) -- -- 14,135,148 Cash Costs per ounce -- -- $3.66 Total Cash Costs (000's) -- -- $51,746 Add/Subtract: Third Party Smelting Costs -- -- (10,110) By-Product Credit -- -- 57,208 Deferred Stripping Adjustment -- -- (292) Change in Inventory -- -- (16,200) Production costs applicable to sales -- -- $82,352 Three Months Ended December 31, 2005 (In thousands except ounces and per ounce costs) Rochester Galena Cerro Bayo Martha Production of Silver (ounces) 1,666,958 330,537 781,083 538,410 Cash Costs per ounce $3.02 $12.40 $1.09 $4.84 Total Cash Costs (000's) $5,040 $4,099 $851 $2,607 Add/Subtract: Third Party Smelting Costs -- (471) (685) (354) By-Product Credit 9,964 498 6,965 317 Deferred Stripping Adjustment 395 -- -- -- Change in Inventory 355 140 2,150 (703) Production costs applicable to sales $15,754 $4,266 $9,281 $1,867 Three Months Ended December 31, 2005 (In thousands except ounces and per ounce costs) Endeavor Broken Hill Total Production of Silver (ounces) 37,091 574,083 3,928,162 Cash Costs per ounce $2.89 $2.73 $3.63 Total Cash Costs (000's) $107 $1,566 $14,270 Add/Subtract: Third Party Smelting Costs (77) (499) (2,086) By-Product Credit -- -- 17,744 Deferred Stripping Adjustment -- -- 395 Change in Inventory 35 (403) 1,574 Production costs applicable to sales $65 $664 $31,897 Three Months Ended December 31, 2004 (In thousands except ounces and per ounce costs) Rochester Galena Cerro Bayo Martha Production of Silver (ounces) 1,717,646 874,573 1,256,428 492,952 Cash Costs per ounce $1.97 $5.94 $(1.05) $4.81 Total Cash Costs (000's) $3,386 $5,192 $(1,313) $2,371 Add/Subtract: Third Party Smelting Costs -- (1,469) (1,493) (287) By-Product Credit 10,677 1,207 9,526 293 Deferred Stripping Adjustment (100) -- 51 -- Change in Inventory (1,141) 442 780 103 Production costs applicable to sales $12,822 $5,372 $7,551 $2,480 Three Months Ended December 31, 2004 (In thousands except ounces and per ounce costs) Endeavor Broken Hill Total Production of Silver (ounces) -- -- 4,341,599 Cash Costs per ounce -- -- $2.22 Total Cash Costs (000's) -- -- $9,636 Add/Subtract: Third Party Smelting Costs -- -- (3,249) By-Product Credit -- -- 21,703 Deferred Stripping Adjustment -- -- (49) Change in Inventory -- -- 184 Production costs applicable to sales -- -- $28,225 (1) The Company acquired its interests in the Endeavor and Broken Hill mines in May 2005 and September 2005, respectively "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. 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 above. COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2005 2004 ASSETS (In Thousands) CURRENT ASSETS Cash and cash equivalents $214,626 $273,079 Short-term investments 25,726 48,993 Receivables 30,022 10,634 Ore on leach pad 25,394 15,046 Metal and other inventory 15,369 17,639 Deferred tax assets 2,255 2,592 Prepaid expenses and other 5,613 3,727 319,005 371,710 PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment 108,964 85,070 Less accumulated depreciation (59,770) (54,154) 49,194 30,916 MINING PROPERTIES Operational mining properties 131,577 121,344 Less accumulated depletion (109,265) (100,079) 22,312 21,265 Mineral interests 72,201 20,125 Accumulated depletion (2,218) -- 69,983 20,125 Non-producing and development properties 72,488 26,071 164,783 67,461 OTHER ASSETS Ore on leach pad, non-current portion 29,254 28,740 Restricted cash and cash equivalents 16,943 10,847 Debt issuance costs, net 5,454 5,757 Deferred tax assets 923 1,811 Other 9,260 8,535 61,834 55,690 Total assets $594,816 $525,777 COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2005 2004 (In thousands except share data) LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $17,936 $8,389 Accrued liabilities and other 6,002 5,306 Accrued interest payable 1,031 1,035 Accrued salaries and wages 8,419 6,379 Current portion of remediation costs 503 1,041 33,891 22,150 LONG-TERM LIABILITIES 1 1/4% Convertible Senior Notes due January 2024 180,000 180,000 Reclamation and mine closure 30,988 23,670 Other long-term liabilities 8,384 6,503 219,372 210,173 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Common Stock, par value $1.00 per share; authorized 500,000,000 shares, issued 250,961,353 and 241,028,303 shares in 2005 and 2004 (1,059,211 shares held in treasury) 250,961 241,028 Additional paid-in capital 656,977 629,809 Accumulated deficit (551,357) (561,908) Shares held in treasury (13,190) (13,190) Accumulated other comprehensive loss (1,838) (2,285) 341,553 293,454 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $594,816 $525,777 CONSOLIDATED STATEMENTS OF CASH FLOWS COEUR D'ALENE MINES CORPORATION AND SUBSIDIARIES Three Months Ended Twelve Months Ended December 31, December 31, 2005 2004 2005 2004 (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $9,944 $8,289 $10,551 $(16,858) Add (deduct) non-cash items: Depreciation and depletion 6,513 4,319 20,885 18,800 Deferred taxes 1,684 (4,403) 1,629 (4,403) Unrealized (gain) loss on embedded derivative (2,138) 519 (2,863) 881 Amortization of restricted stock compensation 350 143 1,237 1,137 Amortization of debt issuance costs 76 76 303 408 Amortization of premium and/or discount on short-term investments 88 330 790 1,527 Other non-cash charges (173) (56) 250 (18) Changes in operating assets and liabilities: Receivables (6,480) (3,743) (19,387) (2,532) Prepaid expenses and other 941 (98) (152) (486) Inventories 2,062 156 (8,591) (16,798) Accounts payable and accrued liabilities 1,583 (10,051) 2,023 (239) CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 14,450 (4,519) 6,675 (18,581) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of short-term investments (11,238) (3,669) (45,657) (63,619) Proceeds from sales of short-term investments 27,089 6,632 62,296 29,864 Capital expenditures (31,673) (4,656) (116,827) (10,514) Other 199 204 294 482 CASH USED IN INVESTING ACTIVITIES (15,623) (1,489) (99,894) (43,787) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of long-term debt -- -- -- (9,561) Proceeds from issuance of common stock -- 119,803 36,493 119,803 Payments of common stock issuance costs (13) (6,702) (557) (6,702) Proceeds from issuance of notes -- -- -- 180,000 Payments of debt issuance costs -- -- -- (6,089) Borrowings from bank on working capital facility -- -- -- 6,056 Payments to bank on working capital facility -- -- -- (8,422) Other (250) (70) (1,170) (2,055) CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES: (263) 113,031 34,766 273,030 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,436) 107,023 (58,453) 210,662 Cash and cash equivalents at beginning of period 216,062 166,056 273,079 62,417 Cash and cash equivalents at end of period $214,626 $273,079 $214,626 $273,079 Supplemental disclosures of cash flow information Cash paid for: Interest $23 $-- $2,280 $1,572 Proven Mineral Reserves (Year-end 2005) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ Property Location Tons (000s) Silver Gold Silver Gold Rochester Nevada, USA 10,168 0.86 0.011 8,765 113 Silver Valley Idaho, USA 236 25.65 -- 6,048 -- Cerro Bayo Chile 439 8.58 0.15 3,764 68 Martha Argentina 25 58.69 0.08 1,488 2 San Bartolome Bolivia -- -- -- -- -- Kensington Alaska, USA -- -- -- -- -- Endeavor Australia 5,512 1.58 -- 8,681 -- Broken Hill Australia 8,522 1.31 -- 11,134 -- 24,902 39,880 183 Probable Mineral Reserves (Year-end 2005) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ Property Location Tons (000s) Silver Gold Silver Gold Rochester Nevada, USA -- -- -- -- -- Silver Valley Idaho, USA 208 23.20 -- 4,830 -- Cerro Bayo Chile 496 7.48 0.13 3,712 64 Martha Argentina 42 61.26 0.08 2,566 3 San Bartolome Bolivia 46,176 3.29 -- 151,882 -- Kensington Alaska, USA 4,206 -- 0.25 -- 1,050 Endeavor Australia 6,614 2.22 -- 14,661 -- Broken Hill Australia 2,998 1.27 -- 3,822 -- 60,740 181,473 1,117 1) Endeavor and Broken Hill reserves are effective as of June 30, 2005 and March 31, 2005, respectively. 2) Metal prices used were $6.50/oz. Ag and $410.00/oz. Au, except Endeavor which uses a $7.06/oz. Ag price and San Bartolome which uses $6.00. 3) Mineral Reserves correspond to Ore Reserves per US SEC classification. Measured Mineral Resource (Year-end 2005) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ Property Location Tons (000s) Silver Gold Silver Gold Rochester Nevada, USA 11,734 1.03 0.010 12,051 117 Silver Valley Idaho, USA 847 12.18 -- 10,308 -- Cerro Bayo Chile 660 6.42 0.13 4,237 85 Martha Argentina 25 38.46 0.05 975 1 San Bartolome Bolivia -- -- -- -- -- Kensington Alaska, USA -- -- -- -- -- Endeavor Australia 5,291 2.13 -- 11,267 -- Broken Hill Australia 5,655 1.84 -- 10,407 -- 24,212 49,245 203 Indicated Mineral Resource (Year-end 2005) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ Property Location Tons (000s) Silver Gold Silver Gold Rochester Nevada, USA 3,912 1.03 0.010 4,018 39 Silver Valley Idaho, USA 635 12.34 -- 7,836 -- Cerro Bayo Chile 1,558 3.72 0.08 5,797 122 Martha Argentina 17 31.21 0.04 516 1 San Bartolome Bolivia 70 2.29 -- 160 -- Kensington Alaska, USA 617 -- 0.44 -- 269 Endeavor Australia 1,102 2.39 -- 2,636 -- Broken Hill Australia 1,742 1.72 -- 3,002 -- 9,653 23,965 431 Inferred Mineral Resource (Year-end 2005) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ Property Location Tons (000s) Silver Gold Silver Gold Rochester Nevada, USA -- -- -- -- -- Silver Valley Idaho, USA 1,099 11.07 -- 12,161 -- Cerro Bayo Chile 1,895 8.13 0.11 15,414 212 Martha Argentina 93 49.80 0.06 4,611 5 San Bartolome Bolivia 1,096 3.52 -- 3,851 -- Kensington Alaska, USA 2,499 -- 0.23 -- 584 Endeavor Australia 2,094 1.60 -- 3,360 -- Broken Hill Australia 3,428 2.17 -- 7,429 -- 12,204 46,826 801 1) Endeavor and Broken Hill mineral resources are effective as of June 30, 2005 and March 31, 2005, respectively. These tables do not include additions or depletions through December 31, 2005. 2) Mineral resources are in addition to mineral reserves and have not demonstrated economic viability. 3) Mineral resources correspond to mineralized material per US SEC guidelines. 4) For additional information relating to the mineral reserve and mineral resource estimates on each property (including pricing assumptions, cut-off grades and other parameters, assumptions and methods used to prepare the estimates), we refer you to its technical report which is electronically available to the public from the Canadian System for Electronic Document Analysis and Retrieval at http://www.sedar.com/. Proven Reserves (Year-end 2004) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ 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 -- -- -- -- -- 22,199 29,342 239 Probable Reserves (Year-end 2004) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ 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 1,145 Measured Resource (Year-end 2004) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ 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) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ 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) Grade (ounces/ton) Ounces (000s) Short ______________ ____________ 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 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 use certain terms in this press release such as "measured," "indicated," "inferred" and "resources" that the SEC guidelines strictly 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, File No. 1-8641 which may be secured from us, or from the SEC's website at: http://sec.gov/edgar.shtml. The definitions of proven and probable mineral reserves under Canadian National Instrument 43-101 are substantially identical to the definitions of such reserves under Guide 7 of the SEC's Securities Act Industry Guides. 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 document. Mr. Birak has reviewed the available data and procedures and believes the calculation of resources and reserves in connection with these properties was conducted in a professional and competent manner. DATASOURCE: Coeur d'Alene Mines Corporation CONTACT: Scott Lamb of Coeur d'Alene Mines Corporation, +1-208-665-0777 Web site: http://www.coeur.com/

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