Hecla Mining Company · NYSE:HL
Hecla Mining — Investor Presentation (August 2024)
73 slides from Hecla Mining's investor presentation, August 2024
Slide 1: August 2024 Update
Largest U.S. silver producer, soon-to-be largest Canadian silver producer AUGUST 2024 UPDATE RESPONSIBLE. SAFE. INNOVATIVE.
Slide 2: Cautionary Statements
HECLA MINING COMPANY NYSE: HL CAUTIONARY STATEMENTS AUGUST 2024 UPDATE Cautionary Statement Regarding Forward-Looking Statements resources.” Mineral resources that are not mineral reserves do not have demonstrated economic viability. You should not assume that all or any part of measured or indicate
Slide 3: What Makes Hecla the Premier Silver Investment
HECLA MINING COMPANY NYSE: HL WHAT MAKES HECLA THE PREMIER SILVER INVESTMENT AUGUST 2024 UPDATE Best In Class Silver Portfolio ▪ Leading Silver Producer in the World’s Best Mining Jurisdictions ▪ Largest U.S silver producer (45%)*,Largest Canadian silver producer, 3rd largest primary silver producer
Slide 4: Safe and Sustainable Mining
HECLA MINING COMPANY NYSE: HL SAFE AND SUSTAINABLE MINING AUGUST 2024 UPDATE All-Injury Frequency Rate of 1.45 (*) ▪ 16% lower than the U.S. average ▪ Reduced by 76% since 2012 ~40,500 hours of safety and health training ▪ Greens Creek (0.29) and Lucky Friday (0.66) AIFR for employees and contractor
Slide 5: Largest Silver Producer in the U.S. & Canada
HECLA MINING COMPANY NYSE: HL LARGEST SILVER PRODUCER IN THE U.S. & CANADA Source: Company Reports, World Silver Survey 2024, AUGUST 2024 UPDATE World Production of Silver 2023 U.S. Silver Production (Moz) 23% Mexico Three countries Peru 14.3 Hecla is the largest silver produce ~48% of China the wor
Slide 6: Largest U.S./Canada Reserve Base with Highest Grades
HECLA MINING COMPANY NYSE: HL LARGEST U.S./CANADA RESERVE BASE WITH HIGHEST GRADES AUGUST 2024 UPDATE Silver Reserves and Reserve Grade* Silver Reserves (Moz) in U.S. and Canada Silver Reserves (Moz) Silver Grade (g/t) 2nd highest silver reserve grades, with the largest reserve base in the U.S. and
Slide 7: Low-Cost Profile Silver Assets
HECLA MINING COMPANY NYSE: HL LOW-COST PROFILE SILVER ASSETS AUGUST 2024 UPDATE Silver AISC Curve of Hecla and Silver Peers*– 12 Months Ended December 31, 2023 US$/oz AISC Hecla Silver Peers* 20.2 20.4 22.9 18.2 19.6 15.2 12.6 11.8 - 20,000 40,000 60,000 80,000 100,000 120,000 Silver Production (Kt)
Slide 8: Leading Dividend Policy with Silver Linked Dividend
HECLA MINING COMPANY NYSE: HL LEADING DIVIDEND POLICY WITH SILVER LINKED DIVIDEND AUGUST 2024 UPDATE Industry’s only silver-linked dividend policy pays an annual base dividend (1.5 cents per share) plus a silver price- linked dividend that starts at $20/oz silver price. Silver Linked Dividends $8.0
Slide 9: Our Operations
OUR OPERATIONS Silver mines are in the best third of cost curve RESPONSIBLE. SAFE. INNOVATIVE. 9
Slide 10: Greens Creek: Flagship Mine
HECLA MINING COMPANY NYSE: HL GREENS CREEK: FLAGSHIP MINE GREENS CREEK AUGUST 2024 UPDATE Location: Admiralty Island, Alaska Type: Underground Metals: Silver, Gold, Lead, Zinc Silver Reserves: 105Moz at 10.5 opt Mine Plan: 14 Years Energy Use: 88% of electricity is line power, of which 100% is renew
Slide 11: World's 11th Largest Silver Mine
HECLA MINING COMPANY NYSE: HL WORLD’S 11th LARGEST SILVER MINE GREENS AUGUSTCREEK 2024 UPDATE Since 1987, Greens Creek has: Mined more than - ▪ 20.9 million tons, containing 354.7Moz Silver, 2.9Moz, Gold, 4.1Blbs Zinc, 1.6Blbs Lead Generated more than - ▪ $3.0 billion in cash flow from operations ▪
Slide 12: Continuous Improvement Since Acquisition
HECLA MINING COMPANY NYSE: HL CONTINUOUS IMPROVEMENT SINCE ACQUISITION GREENS AUGUSTCREEK 2024 UPDATE Mill Throughput, 2008 – 2023 Silver Mill Recoveries, 2008 - 2023 Tons per Day % 25% increase in 7% Increase in silver throughput since 2008 recoveries since 2008 2,506 2,415 82 80 2,229 2,236 78 2,1
Slide 13: Consistency & Innovation: Free Cash Flow Engine
HECLA MINING COMPANY NYSE: HL CONSISTENCY & INNOVATION → FREE CASH FLOW ENGINE GREENS AUGUSTCREEK 2024 UPDATE Cumulative Cash Flow from Operations, Free Cash Flow* ($ Million) Free Cash Flow 3,026 Cash Flow from Operations Low-cost structure, high 2,857 2,716 123% grades, low capital 2,506 requireme
Slide 14: Lucky Friday: 2nd Cornerstone Mine
HECLA MINING COMPANY NYSE: HL LUCKY FRIDAY: 2nd CORNERSTONE MINE LUCKY FRIDAY AUGUST 2024 UPDATE Location: Mullan, Idaho Type: Underground Metals: Silver, Lead, Zinc Silver Reserves: 78Moz at 12.5 opt Mine Plan: 19 Years Energy Use: 60% of electricity is from renewable hydropower, with the remaining
Slide 15: Innovation Driven Growth
HECLA MINING COMPANY NYSE: HL INNOVATION DRIVEN GROWTH LUCKY FRIDAY AUGUST 2024 UPDATE 2nd Cornerstone Asset, Mine plan of 19 Years ▪ Poised to be a 5Moz silver producer ▪ Investment, Underhand Closed Bench drive record throughput ▪ YTD 2024 Cash flow from operations $71.7M, Free cash flow: $45.9M*,
Slide 16: Strong Labor Relations
HECLA MINING COMPANY NYSE: HL STRONG LABOR RELATIONS LUCKY FRIDAY AUGUST 2024 UPDATE Union ratification of labor contract in January 2023 solidifies Lucky Friday’s growth ▪ No material changes; work rules are largely unchanged Key terms ▪ Term of agreement – 6 years and 4 months ▪ Longest contract i
Slide 17: Potential for Growth at Depth
HECLA MINING COMPANY POTENTIAL FOR GROWTH AT DEPTH NYSE: HL AUGUST 2024 UPDATE Lucky Friday 30 Vein Long Section A A’ AgEq OPT: AgEq OPT: Vein Only Diluted Reserves < 10 < 10 10 - 20 10 - 20 20 - 30 20 - 30 30 - 35 30 - 35 > 35 > 35 MINED 1997 – 2023 Eastern Definition 6500 LEVEL ~1,200 FEET @ > 35
Slide 18: Underhand Closed Bench Method
HECLA MINING COMPANY NYSE: HL UNDERHAND CLOSED BENCH METHOD LUCKY FRIDAY AUGUST 2024 UPDATE UCB mining method: large-scale blasting proactively manages seismic risk and increases throughput Is safer: miners Uses advanced drilling work below and blasting techniques engineered to fragment the backfill
Slide 19: Best Decade in 80 Year History Is Ahead
HECLA MINING COMPANY NYSE: HL BEST DECADE IN 80 YEAR HISTORY IS AHEAD LUCKY FRIDAY AUGUST 2024 UPDATE Silver Production by Decade* (Million oz) UCB method’s success and higher grades mined at depth ~2x 50 position Lucky Friday to be a 5Moz producer for 10+ years 30 28 28 27 26 18 1962-1971 1972-1981
Slide 20: Keno Hill: Production Growth in Yukon
HECLA MINING COMPANY NYSE: HL KENO HILL: PRODUCTION GROWTH IN YUKON KENO HILL AUGUST 2024 UPDATE Location: Yukon, Canada Type: Underground Metals: Silver, Lead, Zinc Silver Reserves: 55 Moz at 26.6 opt Mine Plan: 11 years Energy Use: 86% of electricity is from renewable hydropower and wind 2023 Dire
Slide 21: Building a Strong Foundation
HECLA MINING COMPANY NYSE: HL BUILDING A STRONG FOUNDATION KENO HILL AUGUST 2024 UPDATE Canada’s largest silver producer ▪ Largest primary silver reserves in Canada ▪ Since acquisition, 45% increase in silver reserves to ~55Moz at 26.6 opt ▪ Land package of 88 square miles, Significant regional pote
Slide 22: Keno Hill Technical Report Highlights
HECLA MINING COMPANY NYSE: HL KENO HILL TECHNICAL REPORT HIGHLIGHTS KENO HILL AUGUST 2024 UPDATE Technical Report S-K 1300 Highlights Mine life, based on reserve plan years 11 Ore Tons Processed Tons (000) 2,069 Silver Grade Opt 26.6 Silver Recovery % 96.0 Total Silver Produced oz (000) 52,865 Silve
Slide 23: Development – Bermingham
HECLA MINING COMPANY NYSE: HL DEVELOPMENT – BERMINGHAM KENO HILL AUGUST 2024 UPDATE Development plan: Looking southeast Production shapes: Looking southeast Initial Etta Zone Initial Production Production Area Arctic Zone Area Arctic Zone Bear Bear Zone Zone Bermingham Deep ~100m 23
Slide 24: Development – Flame & Moth
HECLA MINING COMPANY NYSE: HL DEVELOPMENT – FLAME & MOTH KENO HILL AUGUST 2024 UPDATE Development plan: Looking northwest Production shapes: Initial Production Area Christal Zone Lightning Zone ~100m 24
Slide 25: Casa Berardi: Gold Exposure in Quebec
HECLA MINING COMPANY NYSE: HL CASA BERARDI: GOLD EXPOSURE IN QUEBEC CASA BERARDI AUGUST 2024 UPDATE Location: Quebec, Canada Type: Open Pit/Underground Metals: Gold Gold Reserves: 1.3Moz at 0.08 opt Mine Plan: 14 Years Energy Use: 100% of electricity is from renewable hydropower 2023 Direct Local Ec
Slide 26: Casa Berardi: Executing on Surface Transition Plan
HECLA MINING COMPANY NYSE: HL CASA BERARDI: EXECUTING ON SURFACE TRANSITION PLAN CASA BERARDI AUGUST 2024 UPDATE Long-term value creation with 14-year reserve mine plan ▪ Continued focus on costs with underground extension to end of 2024 ▪ Q2/24: Cash flow from operations of $17.8M, free cash flow g
Slide 27: Open Pit Transition Can Unlock Significant Value
HECLA MINING COMPANY NYSE: HL OPEN PIT TRANSITION CAN UNLOCK SIGNIFICANT VALUE CASA BERARDI AUGUST 2024 UPDATE Casa Berardi: Conceptually divided in three phases* I. Mining the F160 pit II. Preparation for high-grade pits III. Mining higher-grade pits Aggregate free cash flow Investment phase with p
Slide 28: Casa Berardi Technical Report Highlights
HECLA MINING COMPANY NYSE: HL CASA BERARDI TECHNICAL REPORT HIGHLIGHTS CASA BERARDI AUGUST 2024 UPDATE Technical Report S-K 1300 Highlights Mine life, based on reserve plan years 14 Ore Milled Tons (M) 15.8 Gold Grade (mined) – Open pit** Opt 0.08 Gold Grade (mined) – Opt 0.14 Underground** Gold Gra
Slide 29: Montana Assets: 3rd Largest Undeveloped Copper Deposit in the U.S.
MONTANA ASSETS: 3rd LARGEST UNDEVELOPED COPPER DEPOSIT IN HECLA MINING COMPANY NYSE: HL THE U.S. AUGUST 2024 UPDATE Located 50 miles from Lucky Friday Working to advance underground data with great exploration potential collection and permitting Permitting strategy ▪ Executing strategy to expedite a
Slide 30: Financial Review
FINANCIAL REVIEW RESPONSIBLE. SAFE. INNOVATIVE. 30
Slide 31: Second Quarter Financial Highlights
HECLA MINING COMPANY NYSE: HL SECOND QUARTER FINANCIAL HIGHLIGHTS AUGUST 2024 UPDATE Q2/24 Revenues By Metal Strong Silver Margins Net Debt to Adjusted EBITDA ($/silver ounce) ($ Millions) Silver’s share of revenues is Margins are ~50% of silver price 2024 Goal: Achieve target of < 2x increasing Rea
Slide 32: 2024 Focus: Deleveraging and Investment
HECLA MINING COMPANY NYSE: HL 2024 FOCUS: DELEVERAGING AND INVESTMENT AUGUST 2024 UPDATE 2024 Capital Allocation Priorities: Significant Free Cash Flow: Greens Creek, Lucky Friday progress ($ Million) ▪ Invest in Keno Hill ramp-up Free Cash Flow (2) ▪ Record production in Q2/24, throughput exceeded
Slide 33: 2023 Revenue, Production, and Cost Highlights
HECLA MINING COMPANY NYSE: HL 2023 REVENUE, PRODUCTION, AND COST HIGHLIGHTS AUGUST 2024 UPDATE Silver Gold Lead Zinc Silver Production: 14.3Moz Total Cost of Sales(7): $379.6M Total 2023 Silver Cash Costs, after by-product credits(5): $3.23/oz 15% Margins(3): $11.57/oz AISC, after by-product credits
Slide 34: Guidance
GUIDANCE RESPONSIBLE. SAFE. INNOVATIVE.
Slide 35: Guidance – Strong Silver Margins and Production
HECLA MINING COMPANY NYSE: HL GUIDANCE – STRONG SILVER MARGINS AND PRODUCTION AUGUST 2024 UPDATE Silver Production Gold Production (Koz) Silver Equivalent (Moz)6 Gold Equivalent (Koz)6 (Moz) Current Previous Current Previous Current Previous Current 2024 Production 2024 Greens Creek * 8.8 – 9.2 46 –
Slide 36: Silver Market
SILVER MARKET RESPONSIBLE. SAFE. INNOVATIVE. 36
Slide 37: The World's Growing Needs for Silver
HECLA MINING COMPANY NYSE: HL THE WORLD’S GROWING NEEDS FOR SILVER AUGUST 2024 UPDATE Five distinct periods of silver demand, three that Despite decrease in photographic demand, total are strengthening demand increased 35%, or 307Moz due to the increase in industrial and investment demand ▪ Monetary
Slide 38: Silver Supply and Demand
HECLA MINING COMPANY NYSE: HL SILVER SUPPLY AND DEMAND AUGUST 2024 UPDATE 2023 SILVER DEMAND: 1,195MOZ 2023 SILVER SUPPLY: 1,010MOZ Other 3% Jewelry and Silverware Photo Recycling Mine Prod. - Other 18% Primary Silver 22% voltaics 24% 23% 29% Brazing Alloys Electronics 49% Mine Prod. - and Investmen
Slide 39: Solar Will Be the Largest Source of Electricity
HECLA MINING COMPANY NYSE: HL SOLAR WILL BE THE LARGEST SOURCE OF ELECTRICITY AUGUST 2024 UPDATE 1 Gigawatt (GW) of solar capacity requires 0.45Moz of silver U.S. Electricity Generation Sources: 2000-2050 2022 Solar projected to be 33% of total Gigawatt history | projections U.S. energy generation b
Slide 40: Photovoltaic (PV) Demand for Silver Is Growing
HECLA MINING COMPANY NYSE: HL PHOTOVOLTAIC (PV) DEMAND FOR SILVER IS GROWING AUGUST 2024 UPDATE PV Installations (Gigawatts) and Silver Silver Used in PVs, 2013-2024F** Loadings*,** PV Installations Ag Loading Moz PV Installations Silver Loading 240 232 Gigawatts Index 2014 = 100 700 100 220 90 200
Slide 41: More Efficient PV Technologies Use More Silver
MORE EFFICIENT PV TECHNOLOGIES USE MORE SILVER AND ARE HECLA MINING COMPANY NYSE: HL GAINING MARKET SHARE AUGUST 2024 UPDATE Silver Content in PV Technologies Market Share of PV Technologies Mg Silver/Watt Higher silver using technologies are gaining 22 market share PV Installations Newer, more effi
Slide 42: Silver Deficit Is Expected to Continue
HECLA MINING COMPANY NYSE: HL SILVER DEFICIT IS EXPECTED TO CONTINUE AUGUST 2024 UPDATE Silver demand is buoyed by PVs with newer silver technologies that use more silver ▪ In 2023, silver deficit was 184Moz, 2024 forecast deficit is 215Moz* ▪ Expect silver deficit to persist with increasing use of
Slide 43: Exploration
EXPLORATION RESPONSIBLE. SAFE. INNOVATIVE. 43
Slide 44: Unique Exploration Due to Silver, Jurisdictions, Infrastructure, Potential
UNIQUE EXPLORATION DUE TO SILVER, JURISDICTIONS, HECLA MINING COMPANY NYSE: HL INFRASTRUCTURE, POTENTIAL, GRADE, AND CAPITAL AUGUST 2024 UPDATE 44
Slide 45: $25M Exploration Budget for 2024
HECLA MINING COMPANY NYSE: HL DISCOVERING AND EXPANDING RESOURCES AUGUST 2024 UPDATE Greens Creek ($9M) Focus on resource expansion and $25M conversion to expand and upgrade multiple ore zones Exploration Budget for 2024, focused on Keno Hill ($6.5M) Greens Creek and Exploration and definition drill
Slide 46: 2023 Exploration Expands Mineralization in Multiple Zones
2023 EXPLORATION EXPANDS MINERALIZATION IN MULTIPLE HECLA MINING COMPANY NYSE: HL ZONES GREENS AUGUSTCREEK 2024 UPDATE Positive Results at 9a, West, 200 South, East, Gallagher, and Upper Plate Zones 2023 Drilling Results 2024 Underground 2024 Surface ▪ Expanding high-grade mineralization to the west
Slide 47: Prospective Land Package in a Historical District
HECLA MINING COMPANY NYSE: HL PROSPECTIVE LAND PACKAGE IN A HISTORICAL DISTRICT KENO HILL AUGUST 2024 UPDATE ▪ Historical production of over 200Moz of silver Silver District: Excellent Potential at 40 oz/Ag per ton ✓Grades are 2x Greens Creek’s historical grades ▪ Property contains excellent explora
Slide 48: Underground Drilling Continues to Identify Opportunity at Bermingham and Flame & Moth
HECLA MINING COMPANY UNDERGROUND DRILLING CONTINUES TO IDENTIFY OPPORTUNITY WITHIN NYSE: HL THE BERMINGHAM AND FLAME & MOTH MINES KENO HILL AUGUST 2024 UPDATE Strong Results from Underground Infill Drilling; 2024 Surface Exploration Drilling In Progress Underground Drilling Surface Exploration Drill
Slide 49: Environmental, Social, Governance
Environmental, Social, Governance Our sustainable ESG Corporate Governance responsibilities RESPONSIBLE. SAFE. INNOVATIVE. 49
Slide 50: Committed to Responsible Mining
HECLA MINING COMPANY NYSE: HL COMMITTED TO RESPONSIBLE MINING AUGUST 2024 UPDATE Mining Metals for a Green Energy Future Net zero on emissions in 2021, 2022 Well-established safety culture Hecla Charitable Foundation and 2023* San Sebastian Mine received the Casa Berardi received the Largest private
Slide 51: Sustainability Rating Agency Scores: Significant Improvements Since 2019
SUSTAINABILITY RATING AGENCY SCORES: SIGNIFICANT HECLA MINING COMPANY NYSE: HL IMPROVEMENTS SINCE 2019 AUGUST 2024 UPDATE Agency Progression in ESG Scores • Overall Score increased from 53rd percentile to 74th percentile 38 • Governance Score increased to 24 78th percentile 15 13 • Environmental Sco
Slide 52: Hecla Is Among the Safest Mining Companies
HECLA MINING COMPANY NYSE: HL HECLA IS AMONG THE SAFEST MINING COMPANIES AUGUST 2024 UPDATE Implemented NMA’s CORESafety standards in 2012, became Industry leader All-Injury Frequency Rate Hecla’s 1.45 rate is 16% better 6.06 than national average 5.35 5.41 4.57 Industry leading 76% reduction since
Slide 53: Committed to Our Communities
HECLA MINING COMPANY NYSE: HL COMMITED TO OUR COMMUNITIES AUGUST 2024 UPDATE Largest private employer within the Total economic impact in 2023 communities we operate, jobs and benefits that last a lifetime $855M ▪ Total direct economic impact of $855 Hecla Corporate Montana million $103M $2.5M Green
Slide 54: Appendix
APPENDIX End Notes and GAAP reconciliations RESPONSIBLE. SAFE. INNOVATIVE. 54
Slide 55: End Notes
HECLA MINING COMPANY NYSE: HL END NOTES AUGUST 2024 UPDATE 1. Net debt to adjusted EBITDA is a non-GAAP measurement, a reconciliation of adjusted EBITDA and net debt to the closest GAAP measurements of net income (loss) and debt can be found in the appendix. It is an important measure for management
Slide 56: GAAP Reconciliations
GAAP RECONCILIATIONS RESPONSIBLE. SAFE. INNOVATIVE. 56
Slide 57: Adjusted EBITDA Reconciliation to GAAP
HECLA MINING COMPANY NYSE: HL ADJUSTED EBITDA RECONCILIATION TO GAAP AUGUST 2024 UPDATE Reconciliation of Net Loss (GAAP) to Adjusted EBITDA (non-GAAP) Last Twelve Months Q2 2024 Q1 2024 Dollars in thousands (USD) Net loss $ (43,233) $ (86,797) Interest expense 47,992 45,798 Income and mining tax ex
Slide 58: Cash Cost and AISC Reconciliation to GAAP
HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP AUGUST 2024 UPDATE Silver Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In Sustain
Slide 59: Cash Cost and AISC Reconciliation to GAAP
HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP AUGUST 2024 UPDATE Greens Creek Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In S
Slide 60: Cash Cost and AISC Reconciliation to GAAP
HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP AUGUST 2024 UPDATE Lucky Friday Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Ounce and All-In S
Slide 61: Cash Cost and AISC Reconciliation to GAAP
HECLA MINING COMPANY NYSE: HL CASH COST AND AISC RECONCILIATION TO GAAP AUGUST 2024 UPDATE Casa Berardi and Total Gold Total Cost of Sales (GAAP) to Cash Cost, Before By-product Credits and Cash Cost, After By-product Credits (non-GAAP) and All-In Sustaining Costs, Before By-product Credits, per Oun
Slide 62: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION AUGUST 2024 UPDATE Reconciliation of cash provided by operating activities (GAAP) to Free Cash Flow (non-GAAP) for Greens Creek and Lucky Friday 2020 to YTD 2024 TOTAL YTD 2024 2023 2022 2021 2020 in millions Cash provided by ope
Slide 63: Free Cash Flow (Non-GAAP) Reconciliation
HECLA MINING COMPANY NYSE: HL FREE CASH FLOW (NON-GAAP) RECONCILIATION AUGUST 2024 UPDATE Greens Creek reconciliation of cash provided by operating activities (GAAP) to free cash flow (non-GAAP) TOTAL YTD 2024 2023 2022 2021 2020 in millions Cash provided by operating activities 766 72 157 151 209 1
Slide 64: Mineral Reserves and Resources
MINERAL RESERVES AND RESOURCES RESPONSIBLE. SAFE. INNOVATIVE. 64
Slide 65: Mineral Reserves - 12/31/2023 (1/2)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Reserves - 12/31/2023 (1) (1/2) AUGUST 2024 UPDATE Proven Reserves (1) Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons) (2,3) Greens Creek United States 1
Slide 66: Mineral Reserves - 12/31/2023 (2/2)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Reserves - 12/31/2023 (1) (2/2) AUGUST 2024 UPDATE Proven & Probable Reserves Silver Gold Lead Zinc Silver Gold Lead Zinc Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % (000 oz) (000 oz) (Tons) (Tons) (2,3) Greens Creek United S
Slide 67: Mineral Resources - 12/31/2023 (1/4)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (1/4) AUGUST 2024 UPDATE Measured Resources (9) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) (12,13)
Slide 68: Mineral Resources - 12/31/2023 (2/4)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (2/4) AUGUST 2024 UPDATE Indicated Resources (10) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) (12,1
Slide 69: Mineral Resources - 12/31/2023 (3/4)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (3/4) AUGUST 2024 UPDATE Measured & Indicated Resources Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons)
Slide 70: Mineral Resources - 12/31/2023 (4/4)
HECLA MINING COMPANY NYSE: HL Hecla Mining Company - Mineral Resources - 12/31/2023 (8) (4/4) AUGUST 2024 UPDATE Inferred Resources (11) Silver Gold Lead Zinc Copper Silver Gold Lead Zinc Copper Asset Location Ownership Tons (000) (oz/ton) (oz/ton) % % % (000 oz) (000 oz) (Tons) (Tons) (Tons) (12,13
Slide 71: Mineral Reserves and Resources Footnotes
HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES AUGUST 2024 UPDATE Note: All estimates are in-situ except for the proven reserves at Greens Creek which are in surface stockpiles. Mineral resources are exclusive of reserves. 1. The term “reserve” means an estimate of tonnage an
Slide 72: Mineral Reserves and Resources Footnotes
HECLA MINING COMPANY NYSE: HL MINERAL RESERVES AND RESOURCES FOOTNOTES AUGUST 2024 UPDATE 17. Indicated resources for most zones at San Sebastian based on $1,500/oz gold, $21/oz silver, $1.15/lb lead, $1.35/lb zinc and $3.00/lb copper using a cut-off grade of $90.72/ton ($100/tonne); $1,700/oz gold
Slide 73: Thank You
THANK YOU RESPONSIBLE. SAFE. INNOVATIVE.
Hecla Mining Company — Investor Presentation (August 2024) on 6ix