Coeur Reports Approximately 40% Increase in Both Silver and Gold Reserves in Expanding Palmarejo District

Nov 4, 2009 4:10:00 PM

Copyright Business Wire 2009

COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) today announced an approximately 40% increase in silver and gold reserves at its Palmarejo silver and gold mine in Chihuahua, Mexico, to a total of 88.6 million ounces of silver and 1.1 million ounces of gold, based on its ongoing drilling at the nearby Guadalupe deposit.

The 25.8 million ounces of new silver reserves and 315,000 ounces of new gold reserves represent the initial underground ore reserves at Guadalupe, located approximately 6 kilometers southeast of the current Palmarejo mine and processing facilities.

The Company plans to continue drilling at Guadalupe and anticipates commencement of underground development of Guadalupe's reserves in 2010. Ore from Guadalupe would then be expected to begin contributing to Palmarejo's silver and gold production in 2011. At the Palmarejo project there were 63.6 million ounces of silver reserves and 756,000 ounces of gold reserves reported at the beginning of this year.


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