Coeur Reports Fourth Quarter and Full-Year 2017 Results and Provides 2018 Cost Guidance

Coeur Mining, Inc. ("Coeur" or the "Company") (NYSE:CDE) today reported full-year 2017 net income of $10.9 million, or $0.06 per share, and cash flow from operating activities of $197.2 million, an increase of over 100% compared to 2016. Adjusted EBITDA¹ rose 4% year-over-year to $203.3 million, and free cash flow¹ increased $85.5 million to $60.4 million.

In the fourth quarter, the Company generated net income of $14.3 million, or $0.08 per share, and cash flow from operating activities more than doubled quarter-over-quarter, increasing $54.5 million to $91.8 million. Adjusted EBITDA¹ and free cash flow¹ of $77.0 million and $44.8 million, respectively, increased approximately fivefold compared to the prior quarter.

Strong fourth quarter and full-year financial results were driven by record silver equivalent¹ production of 10.8 million ounces (11.7 million ounces including discontinued operations) and 35.1 million ounces (39.4 million ounces including discontinued operations), respectively, lower costs from the Company's continuing operations, and decreases in working capital. Lower average debt levels and interest rates led to a 56% reduction in full-year interest expense, which also contributed to improved full-year financial results.

On December 22, 2017, the Company entered into an agreement to sell its wholly-owned Bolivian subsidiary, which owns and operates the San Bartolomé mine. The transaction is expected to close in the first quarter. As a result, the mine is presented as a discontinued operation and excluded from consolidated operating statistics and financial results for all periods presented unless otherwise noted. In 2017, San Bartolomé produced 4.3 million ounces of silver at adjusted costs applicable to sales ("CAS") per silver ounce¹ of $17.17.

"Coeur's robust operating performance during the fourth quarter led to strong financial results for the quarter and full year. Our multi-year strategic initiatives are generating higher-quality ounces and strong cash flow from our well-balanced portfolio of North American-based assets," said Mitchell J. Krebs, Coeur's President and Chief Executive Officer.

"During 2017, we successfully repositioned and strengthened the Company on multiple fronts. We upgraded our portfolio and pipeline of assets to reflect a North American focus with the acquisition of the high-grade Silvertip mine in Canada, our announced divestiture of our highest cost mine in Bolivia and the sales of nine non-core assets. We repositioned our balance sheet to provide greater financial flexibility and materially reduce annual interest expense. By allocating additional capital to near-mine exploration, we expanded our reserve and resource base by double digit percentage increases, which we anticipate will lead to high-return, long-term value for our stockholders."

Highlights

• Record fourth quarter and full-year silver equivalent¹ production - Fourth quarter and full-year production from continuing operations increased 26% quarter-over-quarter and 14% year-over-year, respectively, to 10.8 million and 35.1 million silver equivalent ounces ("AgEqOz")¹. Higher fourth quarter production was driven by 45% and 26% increases in silver equivalent¹ production at the Rochester and Palmarejo mines, respectively, and a 27% increase in gold production at the Kensington mine. Record full-year production was driven primarily by the Palmarejo mine, where 2017 silver equivalent¹ production rose 64% compared to 2016
• Improved cost performance from continuing operations - Companywide adjusted all-in sustaining costs ("AISC") per average spot AgEqOz¹ for the fourth quarter decreased 17% quarter-over-quarter to $12.26 and were relatively flat for the full year at $13.82, despite higher diesel and consumables costs during both periods. Palmarejo's fourth quarter and full-year adjusted CAS per average spot AgEqOz¹ were $6.64 and $8.38, respectively, with fourth quarter unit costs decreasing 24% quarter-over-quarter and 34% year-over-year and full-year unit costs declining 12% compared to 2016
• Solid execution of key capital projects - In 2017, Coeur completed or achieved major milestones on key capital projects at Palmarejo, Rochester and Kensington. At Palmarejo, the Company reached its target mining rate of 4,500 tons per day one quarter ahead of schedule following a multi-year development and ramp-up period. Rochester's Stage IV leach pad expansion was commissioned on schedule in the third quarter after three years of permitting and ten months of construction. During the third quarter, the Company began mining the high-grade Jualin deposit at Kensington following two years of underground development
• Continued portfolio enhancements - During the fourth quarter, Coeur completed its acquisition of the Silvertip mine, which is expected to provide Coeur with high-margin, low-cost production, near-term cash flow, and long-term exploration potential in a low-risk, mining-friendly jurisdiction. In December 2017, the Company announced it had entered into an agreement to divest the San Bartolomé mine in Bolivia. The Company's prior acquisition of Wharf in early 2015 has already generated a return on investment of approximately 20%³. Coeur also completed the sale of nine non-core assets during the year for total consideration of approximately $40 million
• Expanded exploration program generating strong returns - Coeur's total exploration investment increased 66% in 2017 to $41.9 million, including $30.3 million of expensed exploration and $11.6 million of capitalized exploration, and contributed to a 10% increase to silver equivalent¹ reserves, net of depletion, from continuing operations compared to year-end 2016. The largest net increases of 36%, 17% and 5% were achieved at Wharf, Palmarejo and Kensington, respectively, with reserves in the United States now accounting for 73% of total reserves. Measured and indicated silver equivalent¹ resources increased 42% compared to the prior year, while inferred silver equivalent¹ resources increased 45%
• Meaningful balance sheet improvements achieved - The Company accomplished key balance sheet initiatives during 2017 beginning with the successful refinancing of its 7.875% senior notes due 2021 with 5.875% senior notes due 2024. During the third quarter, Coeur also established a four-year $200 million revolving credit facility, under which the Company drew $100 million to partially fund the Silvertip mine acquisition. Full-year interest expense decreased 56% to $16.4 million from $36.9 million in 2016

"As we enter our 90^th year of business, we have strong momentum in positioning Coeur as a leading U.S.-based, North America-focused precious metals mining company," continued Mitchell J. Krebs, Coeur's President and Chief Executive Officer. "2018 should be another pivotal year as we look to commence production at Silvertip by the end of the first quarter, achieve commercial production at Jualin later in the year and sustain our focus on near-mine exploration. We also expect to publish updated technical reports for Rochester and Kensington in the coming weeks and for Silvertip in the second half of the year. Our team continues to do an outstanding job advancing Coeur's strategic priorities, and we look forward to delivering strong results in the coming quarters."

Financial and Operating Highlights (Unaudited)

On December 22, 2017, Coeur announced it had entered into an agreement to divest the San Bartolomé mine through the sale of its 100%-owned Bolivian subsidiary. As a result, San Bartolomé is presented as a discontinued operation and excluded from consolidated operating statistics and financial results for all periods presented unless otherwise noted.

(Amounts in millions, except per share amounts, gold ounces produced & sold, and per-ounce metrics)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Revenue		$	709.6			$	214.6			$	159.9			$	149.5			$	185.6			$	571.9			$	139.2
Costs Applicable to Sales		$	440.3			$	122.0			$	101.6			$	102.2			$	114.5			$	335.4			$	84.9
General and Administrative Expenses		$	33.6			$	9.2			$	7.3			$	7.0			$	10.1			$	29.3			$	6.6
Net Income (Loss)		$	10.9			$	14.3			$	(11.7	)		$	(10.0	)		$	18.3			$	22.4			$	(10.3	)
Net Income (Loss) Per Share		$	0.06			$	0.08			$	(0.06	)		$	(0.05	)		$	0.10			$	0.14			$	(0.06	)
Adjusted Net Income (Loss)1		$	4.2			$	14.1			$	(15.3	)		$	(1.3	)		$	6.8			$	15.6			$	0.9
Adjusted Net Income (Loss)1 Per Share		$	0.02			$	0.08			$	(0.09	)		$	(0.01	)		$	0.04			$	0.10			$	0.01
Weighted Average Shares Outstanding		184.1			187.0			179.3			179.2			183.1			163.5			174.0
EBITDA1		$	202.9			$	69.6			$	38.6			$	23.4			$	71.4			$	142.6			$	24.7
Adjusted EBITDA1		$	203.3			$	77.0			$	40.2			$	31.9			$	54.5			$	194.9			$	41.0
Cash Flow from Operating Activities		$	197.2			$	91.8			$	37.3			$	24.1			$	43.9			$	96.5			$	21.4
Capital Expenditures		$	136.7			$	47.1			$	29.0			$	37.1			$	23.6			$	94.4			$	28.1
Free Cash Flow1		$	60.4			$	44.8			$	8.3			$	(13.0	)		$	20.3			$	(25.1	)		$	(6.7	)
Cash, Equivalents & Short-Term Investments		$	192.0			$	192.0			$	195.7			$	201.0			$	160.6			$	118.3			$	118.3
Total Debt2		$	411.3			$	411.3			$	288.7			$	284.6			$	218.8			$	210.6			$	210.6
Average Realized Price Per Ounce – Silver		$	16.96			$	16.57			$	16.86			$	16.95			$	17.49			$	17.08			$	16.72
Average Realized Price Per Ounce – Gold		$	1,204			$	1,224			$	1,240			$	1,206			$	1,149			$	1,230			$	1,170
Silver Ounces Produced		12.1			3.7			3.0			2.7			2.7			9.4			2.6
Gold Ounces Produced		383,086			118,756			93,293			82,819			88,218			358,170			102,500
Silver Equivalent Ounces Produced1		35.1			10.8			8.6			7.7			8.0			30.8			8.7
Silver Ounces Sold		12.7			3.8			2.9			2.7			3.3			8.9			2.2
Gold Ounces Sold		410,604			123,564			89,972			86,194			110,874			338,131			87,108
Silver Equivalent Ounces Sold1		37.3			11.1			8.3			7.9			10.0			29.2			7.4
Silver Equivalent Ounces Sold (Average Spot)1		43.0			13.2			9.7			9.0			11.1			33.6			8.4
Adjusted CAS per AgEqOz1		$	10.62			$	9.43			$	11.05			$	12.02			$	10.60			$	11.12			$	11.45
Adjusted CAS per Average Spot AgEqOz1		$	9.59			$	8.35			$	9.90			$	10.96			$	9.79			$	10.19			$	10.59
Adjusted CAS per AuEqOz1		$	822			$	800			$	843			$	860			$	791			$	688			$	676
Adjusted AISC per AgEqOz1		$	15.90			$	14.45			$	17.35			$	17.81			$	14.78			$	15.97			$	16.13
Adjusted AISC per Average Spot AgEqOz1		$	13.82			$	12.26			$	14.79			$	15.58			$	13.30			$	13.88			$	14.29

Financial Results

Fourth quarter revenue of $214.6 million increased 34% compared to the prior quarter. Silver sales contributed 30% of revenue during the period and gold sales contributed 70% based on average realized prices of $16.57 and $1,224 per ounce, respectively. For the full year, the Company generated revenue of $709.6 million, 24% higher than in 2016 with silver sales contributing 30% and gold 70%. Averaged realized silver and gold prices for the full year were $16.96 and $1,204 per ounce, respectively, marginally declining compared to 2016. The Company's U.S. operations accounted for approximately 60% of both fourth quarter and full-year revenue.

Average realized gold prices during the fourth quarter and full year reflect the sale of 13,740 and 52,124 gold ounces, respectively, pursuant to Palmarejo's gold stream agreement at a price of $800 per ounce.

Costs applicable to sales were $122.0 million and $440.3 million for the fourth quarter and full year, respectively, representing period-over-period increases of 20% and 31%. These increases were primarily the result of increased ounces sold as well as higher diesel and consumables costs. General and administrative expenses of $9.2 million in the fourth quarter and $33.6 million for the full year were 26% higher quarter-over-quarter and 15% higher year-over-year, respectively, due to higher employee-related expenses and professional service costs.

Fourth quarter interest expense, net of capitalized interest, increased 53% from the third quarter to $5.5 million as a result of incremental interest related to the Company's $200 million revolving credit facility (the "Facility"), under which $100 million was drawn to partially fund the Silvertip acquisition in October 2017. For the full year, interest expense, net of capitalized interest, decreased 56% to $16.4 million, due primarily to lower average debt levels compared to 2016 and a lower interest rate on the Company's senior notes, which were refinanced in the second quarter of 2017.

Expensed exploration was $7.5 million for the fourth quarter, bringing full-year expensed exploration to $30.3 million, an increase of $17.4 million, or 135%, year-over-year.

Fourth quarter and full-year capital expenditures increased 62% quarter-over-quarter and 45% year-over-year, respectively, to $47.1 million and $136.7 million, primarily due to $17.7 million of investments made at Silvertip on underground development drilling, mill and infrastructure upgrades and the purchase of new equipment. Full-year capital expenditures were also higher than 2016 levels due to final construction and commissioning of the Stage IV leach pad expansion at Rochester.

The acquisition of Silvertip also drove higher fourth quarter and full-year pre-development, reclamation, and other expenses of $6.0 million and $18.9 million, respectively.

Fourth quarter free cash flow¹ was $44.8 million, bringing full-year 2017 free cash flow¹ to $60.4 million. This increase of $85.5 million compared to 2016 was driven by record production and sales, improved companywide unit costs, a significant decrease in working capital, and lower interest expense.

Operations

Fourth quarter and full-year 2017 results for each of the Company's operations are provided below.

Palmarejo, Mexico

(Dollars in millions, except per ounce amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Tons milled		1,498,421		389,524		413,086		335,428		360,383		1,078,888		287,569
Average silver grade (oz/t)		5.62		6.92		5.53		4.98		4.91		4.66		4.95
Average gold grade (oz/t)		0.09		0.10		0.08		0.08		0.09		0.08		0.09
Average recovery rate – Ag		86.0%		87.0%		83.6%		87.3%		86.5%		88.4%		89.1%
Average recovery rate – Au		90.0%		92.0%		83.1%		91.1%		93.7%		86.5%		90.4%
Silver ounces produced (000's)		7,242		2,346		1,908		1,457		1,531		4,442		1,269
Gold ounces produced		121,569		37,537		28,948		24,292		30,792		73,913		23,906
Silver equivalent ounces produced1 (000's)		14,536		4,600		3,644		2,914		3,378		8,877		2,703
Silver ounces sold (000's)		7,586		2,343		1,794		1,484		1,965		3,993		937
Gold ounces sold		131,743		38,953		26,554		25,191		41,045		59,081		15,558
Silver equivalent ounces sold1 (000's)		15,491		4,681		3,387		2,996		4,427		7,538		1,872
Silver equivalent ounces sold1 (average spot) (000's)		17,301		5,331		3,809		3,324		4,837		8,305		2,042
Metal sales		$274.8		$83.2		$60.7		$53.2		$77.7		$141.3		$32.5
Costs applicable to sales		$146.2		$36.0		$33.3		$33.9		$43.0		$80.8		$20.9
Adjusted CAS per AgEqOz1		$9.36		$7.54		$9.76		$11.21		$9.68		$10.55		$11.01
Adjusted CAS per average spot AgEqOz1		$8.38		$6.64		$8.68		$10.11		$8.87		$9.57		$10.11
Exploration expense		$11.9		$2.7		$4.5		$3.1		$1.6		$5.1		$2.4
Cash flow from operating activities		$139.9		$52.1		$18.5		$18.8		$50.5		$26.7		$(1.7)
Sustaining capital expenditures (excludes capital lease payments)		$22.5		$4.9		$6.5		$6.1		$5.0		$22.7		$3.9
Development capital expenditures		$7.4		$2.1		$(1.0)		$5.1		$1.2		$13.1		$4.2
Total capital expenditures		$29.9		$7.0		$5.5		$11.2		$6.2		$35.8		$8.1
Free cash flow (before royalties)		$110.0		$45.1		$13.0		$7.6		$44.3		$(9.1)		$(9.8)
Gold production royalty payments		$—		$—		$—		$—		$—		$27.2		$—
Free cash flow1		$110.0		$45.1		$13.0		$7.6		$44.3		$(36.3)		$(9.8)

• Fourth quarter silver equivalent¹ production increased 26% quarter-over-quarter and 70% year-over-year to 4.6 million ounces. Full-year 2017 silver equivalent¹ production of 14.5 million ounces was above the high-end of the Company's guidance range and represented an increase of 64% over 2016
• Increased silver and gold grades during the fourth quarter and full-year resulted from the mining of higher-grade zones at Independencia. Grades are expected to decrease gradually during 2018
• Fourth quarter sales of 4.7 million silver equivalent¹ ounces were in-line with production and up 38% quarter-over-quarter, while full-year sales of 15.5 million silver equivalent¹ ounces more than doubled year-over-year due to a reduction in inventory carried over from the fourth quarter of 2016
• Fourth quarter adjusted CAS per average spot AgEqOz¹ of $6.64 were 24% and 34% lower quarter-over-quarter and year-over-year, respectively, bringing full-year adjusted CAS per average spot AgEqOz¹ to $8.38, below the Company's guidance range of $9.00-$9.50 per average spot AgEqOz¹
• Full year free cash flow¹ of $110.0 million represented a year-over-year increase of $146.3 million and was driven by higher production, lower unit costs, a reduction in inventory carried over from 2016 and lower development capital expenditures
• Throughout the year, Palmarejo's exploration program was expanded following positive drill results and the discovery of several new veins. As a consequence, exploration expense of $11.9 million in 2017 more than doubled compared to 2016
• Full-year 2018 production is expected to be 6.5 - 7.1 million ounces of silver and 110,000 - 115,000 ounces of gold, or 13.1 - 14.0 million silver equivalent¹ ounces. CAS per AgEqOz¹ is expected to be $10.50 - $11.00 on a 60:1 silver equivalent basis and $9.25 - $9.75 on an average spot equivalent basis
• With mining rates now at steady-state levels of approximately 4,500 tons per day, 2018 capital expenditures, including capitalized exploration, are expected to be approximately $30 - $35 million

Rochester, Nevada

(Dollars in millions, except per ounce amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Ore tons placed		16,440,270		4,171,451		4,262,011		4,493,100		3,513,708		19,555,998		3,878,487
Average silver grade (oz/t)		0.53		0.50		0.53		0.53		0.58		0.57		0.57
Average gold grade (oz/t)		0.003		0.003		0.004		0.003		0.002		0.003		0.002
Silver ounces produced (000's)		4,714		1,361		1,070		1,156		1,127		4,564		1,277
Gold ounces produced		51,051		18,995		10,955		10,745		10,356		50,751		14,231
Silver equivalent ounces produced1 (000's)		7,777		2,500		1,727		1,801		1,749		7,609		2,131
Silver ounces sold (000's)		4,931		1,457		1,050		1,135		1,289		4,584		1,205
Gold ounces sold		54,642		20,002		10,390		10,658		13,592		49,320		12,988
Silver equivalent ounces sold1 (000's)		8,210		2,658		1,674		1,774		2,104		7,543		1,984
Silver equivalent ounces sold1 (average spot) (000's)		8,961		2,969		1,839		1,913		2,240		8,183		2,128
Metal sales		$152.7		$49.7		$31.2		$32.8		$39.0		$139.9		$36.2
Costs applicable to sales		$107.9		$34.0		$23.3		$24.2		$26.4		$89.7		$23.7
Adjusted CAS per AgEqOz1		$13.08		$12.77		$13.69		$13.54		$12.57		$11.86		$11.99
Adjusted CAS per average spot AgEqOz1		$11.97		$11.37		$12.46		$12.56		$11.81		$10.93		$11.16
Exploration expense		$1.4		$0.5		$0.5		$0.3		$0.1		$0.8		$0.4
Cash flow from operating activities		$32.3		$26.1		$1.6		$(1.1)		$5.7		$28.4		$7.6
Sustaining capital expenditures (excludes capital lease payments)		$2.7		$0.9		$0.5		$1.1		$0.2		$7.8		$1.5
Development capital expenditures		$38.2		$5.9		$9.2		$12.7		$10.4		$8.6		$4.3
Total capital expenditures		$40.9		$6.8		$9.7		$13.8		$10.6		$16.4		$5.8
Free cash flow1		$(8.6)		$19.3		$(8.1)		$(14.9)		$(4.9)		$12.0		$1.8

• Fourth quarter silver equivalent¹ production increased 45% quarter-over-quarter to 2.5 million ounces, driven by concurrent leaching of the Stage III and Stage IV pads, timing of recoveries from the newly-expanded Stage IV leach pad, and placement of higher gold grade ore during the third and early fourth quarters. Full-year silver equivalent¹ production of 7.8 million ounces was relatively unchanged year-over-year and was near the high-end of the Company's guidance range
• Adjusted CAS per average spot AgEqOz¹ for the fourth quarter was $11.37, 9% lower quarter-over-quarter, while adjusted CAS per average spot AgEqOz¹ for the full-year increased 10% to $11.97. Unit costs were higher compared to 2016 primarily due to pre-stripping activity conducted to access higher-grade ore during the second and third quarters and higher diesel prices compared to 2016
• Fourth quarter free cash flow¹ of $19.3 million reflected higher production and lower development capital expenditures. For the full year, the mine generated negative free cash flow¹ of $8.6 million, which reflected higher capital expenditures in 2017 of $40.9 million related to the Stage IV leach pad expansion project
• Full-year 2018 production is expected to be 4.2 - 4.7 million ounces of silver and 45,000 - 50,000 ounces of gold, or 6.9 - 7.7 million silver equivalent¹ ounces, at CAS per AgEqOz¹ of $13.25 - $13.75 on a 60:1 silver equivalent basis and $12.00 - $12.50 on an average spot equivalent basis
• Development capital expenditures in 2017 totaled $38.2 million and were predominantly related to the Stage IV leach pad expansion, which was completed and commissioned during the third quarter. As a result, Rochester is expected to generate strong free cash flow¹ in 2018, with capital expenditures of approximately $7 - $15 million

Wharf, South Dakota

(Dollars in millions, except per ounce amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Ore tons placed		4,560,441		1,124,785		1,150,308		993,167		1,292,181		4,268,105		1,178,803
Average gold grade (oz/t)		0.027		0.029		0.029		0.024		0.027		0.032		0.027
Gold ounces produced		95,372		27,292		25,849		21,358		20,873		109,175		30,675
Silver ounces produced (000's)		64		16		15		13		20		105		32
Gold equivalent ounces produced1		96,431		27,560		26,096		21,568		21,207		110,927		31,202
Silver ounces sold (000's)		74		16		14		11		33		95		30
Gold ounces sold		98,237		28,975		23,855		21,314		24,093		108,042		29,698
Gold equivalent ounces sold1		99,472		29,256		24,085		21,495		24,636		109,620		30,204
Metal sales		$125.9		$37.3		$31.3		$27.0		$30.3		$136.7		$35.5
Costs applicable to sales		$69.3		$19.9		$17.3		$15.8		$16.3		$66.4		$16.9
Adjusted CAS per AuEqOz1		$700		$682		$719		$737		$670		$575		$556
Exploration expense		$0.3		$0.1		$0.2		$—		$—		$—		$—
Cash flow from operating activities		$49.6		$17.2		$15.0		$8.8		$8.6		$62.4		$15.4
Sustaining capital expenditures (excludes capital lease payments)		$5.8		$1.6		$1.8		$1.5		$0.9		$4.8		$1.3
Development capital expenditures		$3.0		$1.7		$1.3		$—		$—		$—		$—
Total capital expenditures		$8.8		$3.3		$3.1		$1.5		$0.9		$4.8		$1.3
Free cash flow1		$40.8		$13.9		$11.9		$7.3		$7.7		$57.6		$14.1

• Gold production in the fourth quarter increased 6% quarter-over-quarter to 27,292 ounces, attributable primarily to higher sustained crushing rates and gold grades
• Full-year gold production of 95,372 ounces was slightly higher than the Company's guidance range. The 13% year-over-year decline resulted from lower grades following completion of mining at the higher-grade Golden Reward deposit during the third quarter, which was mined for an abbreviated season relative to prior years
• Tons placed in 2017 reached 4.6 million, up from 4.3 million in 2016 and 3.6 million in 2015
• Adjusted CAS per AuEqOz¹ declined 5% quarter-over-quarter while full-year adjusted CAS per AuEqOz¹ were $700, at the low end of the Company's guidance range
• Wharf generated $13.9 million of free cash flow¹ during the quarter, bringing full-year free cash flow¹ to $40.8 million. Since acquiring the operation in February 2015 for $99 million, Wharf has generated $127.2 million of free cash flow¹
• In 2018, Coeur expects gold production to be 85,000 - 90,000 ounces at CAS per AuEqOz¹ of $850 - $900
• Capital expenditures for 2018 are expected to be approximately $4 - $7 million

Kensington, Alaska

(Dollars in millions, except per ounce amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Tons milled		668,727		167,631		172,038		163,163		165,895		620,209		163,410
Average gold grade (oz/t)		0.18		0.22		0.17		0.17		0.17		0.21		0.22
Average recovery rate		93.5%		92.8%		94.1%		93.2%		94.0%		94.7%		94.4%
Gold ounces produced		115,094		34,932		27,541		26,424		26,197		124,331		33,688
Gold ounces sold		125,982		35,634		29,173		29,031		32,144		121,688		28,864
Metal sales		$154.5		$44.3		$36.6		$35.6		$38.0		$146.6		$34.2
Costs applicable to sales		$116.1		$32.0		$27.7		$28.0		$28.4		$96.7		$23.0
Adjusted CAS per AuOz1		$920		$896		$946		$952		$884		$790		$801
Exploration expense		$8.6		$2.8		$3.0		$2.0		$0.8		$3.5		$1.3
Cash flow from operating activities		$37.6		$16.8		$9.3		$7.0		$4.5		$50.8		$11.4
Sustaining capital expenditures (excludes capital lease payments)		$20.7		$8.0		$6.5		$3.7		$2.5		$22.8		$8.9
Development capital expenditures		$15.5		$4.0		$3.6		$4.9		$3.0		$14.0		$3.7
Total capital expenditures		$36.2		$12.0		$10.1		$8.6		$5.5		$36.8		$12.6
Free cash flow1		$1.4		$4.8		$(0.8)		$(1.6)		$(1.0)		$14.0		$(1.2)

• Fourth quarter gold production increased 27% quarter-over-quarter to 34,932 ounces, Kensington's highest quarterly production since the fourth quarter of 2013. This resulted primarily from mining the higher-grade Raven zone, which drove average grades 29% higher to 0.22 oz/ton
• Full-year production of 115,094 ounces was below the Company guidance range due to lower-than-expected grades throughout the first nine months of the year. Full-year gold sales exceeded production due to reductions in inventory throughout the year, particularly during the first quarter
• Adjusted CAS per AuOz¹ declined 5% quarter-over-quarter to $896 per ounce. Adjusted CAS per AuOz¹ for the full year increased 16% compared to the prior year to $920 due to lower grades and production levels. Higher diesel and consumables costs also contributed to the year-over-year increase
• Exploration expense was $8.6 million for the full year, a $5.1 million increase compared to 2016. During the year, Kensington's exploration program focused on resource conversion and expansion of the Jualin deposit as well as the expansion of higher-grade areas, such as Raven, which is expected to remain a supplemental source of higher-grade material throughout 2018
• Mining of development ore continued at Jualin during the fourth quarter, where production is expected to accelerate throughout 2018 as the Company dewaters the mine area to facilitate more efficient drilling, development, and mining activities
• Free cash flow¹ during the quarter was $4.8 million due to higher production. For the full year, free cash flow¹ was $1.4 million, down $12.6 million compared to 2016
• Production for the full-year 2018 is expected to total 115,000 - 120,000 ounces of gold at CAS per AuOz¹ of $900 - $950
• Kensington's capital expenditures in 2018 are expected to total $35 - $40 million

Exploration

During the fourth quarter, Coeur focused on refining its geologic models and establishing early priorities for its 2018 exploration program. Exploration at Wharf and Rochester ceased during the quarter due to weather conditions, while drilling at Kensington, Palmarejo, and Silvertip continued at reduced pace with three drill rigs active at Palmarejo, three at Kensington, and one at Silvertip. As of early February 2018, there were three rigs active at Silvertip, with a fourth expected later during the month.

Companywide exploration expense and capitalized exploration for the quarter were $7.5 million and $1.9 million, respectively, declining 23% and 62% quarter-over-quarter. Exploration expense for the full year totaled $30.3 million, $17.4 million higher compared to 2016, while capitalized exploration totaled $11.6 million, compared to $12.4 million the prior year.

On December 13, 2017, the Company provided an update of its Palmarejo and Kensington exploration programs, which were expanded throughout the year following encouraging drill results. At Palmarejo, expansion of the Nación-Dana, La Bavisa, and Zapata veins remain a priority with two drill rigs active at Nación-Dana as of year-end. Underground drifting was also underway in anticipation of drilling the newly-discovered Portales and Jacobo veins, east of Guadalupe, as well as the Zapata and Madero veins, west of Guadalupe. The Company's year-end 2017 reserves and resources include initial reserve estimates at Nación and new inferred resources at Zapata and La Bavisa.

Exploration at Kensington continued to target expansion of the Raven vein, lower Kensington Main Block L, and lower Jualin Vein #4 during the quarter. An initial reserve estimate at Jualin is expected to be included in Kensington's updated technical report anticipated late in the first quarter of 2018.

At Silvertip, underground development drilling began early during the fourth quarter and targeted resource conversion, while underground access was undergoing preparation for multiple drill rigs in 2018. Results of the planned infill and expansion drill programs are expected to be included in an updated technical report anticipated in the second half of 2018.

2018 Production Outlook

As published on January 8, 2018, the Company's full-year 2018 production guidance reflects the anticipated commencement of production at Silvertip by the end of the first quarter.

		Silver		Gold		Zinc		Lead		Silver Equivalent1
		(K oz)		(oz)		(K lbs)		(K lbs)		(K oz)
Palmarejo		6,500 - 7,100		110,000 - 115,000		—		—		13,100 - 14,000
Rochester		4,200 - 4,700		45,000 - 50,000		—		—		6,900 - 7,700
Kensington		—		115,000 - 120,000		—		—		6,900 - 7,200
Wharf		—		85,000 - 90,000		—		—		5,100 - 5,400
Silvertip		1,500 - 2,000		—		23,000 - 28,000		23,000 - 28,000		4,030 - 5,080
Total		12,200 - 13,800		355,000 - 375,000		23,000 - 28,000		23,000 - 28,000		36,030 - 39,380
Total (including discontinued operations)		12,800 - 14,400		355,000 - 375,000		23,000 - 28,000		23,000 - 28,000		36,630 - 39,980

2017 Cost Performance and 2018 Outlook

The Company's spot guidance is based on recent observed equivalences and assumes silver-to-gold, -zinc and -lead ratios of 75:1, 0.09:1 and 0.07:1, respectively.

		2018 Guidance		2017 Results
(dollars in millions, except per ounce amounts)		60:1		Spot		60:1		Average Spot
CAS per AgEqOz1 – Palmarejo		$10.50 - $11.00		$9.25 -$9.75		$9.36		$8.38
CAS per AgEqOz1 – Rochester		$13.25 - $13.75		$12.00 - $12.50		$13.08		$11.97
CAS per AuOz1 – Kensington		$900 - $950		$920
CAS per AuEqOz1 – Wharf		$850 - $900		$700
CAS per AgEqOz1 – Silvertip		$15.00 - $15.50		$12.00 - $12.50		—		—
Capital Expenditures		$120 - $140		$136.7
General and Administrative Expenses		$32 - $34		$33.6
Exploration Expense		$20 - $25		$30.3
AISC per AgEqOz1 from continuing operations		$17.50 - $18.00		$15.00 - $15.50		$15.90		$13.82

Financial Results and Conference Call

Coeur will host a conference call to discuss its fourth quarter and full-year 2017 financial results on February 8, 2018 at 11:00 a.m. Eastern Time.

Dial-In Numbers:		(855) 560-2581 (U.S.)
		(855) 669-9657 (Canada)
		(412) 542-4166 (International)
Conference ID:		Coeur Mining

Hosting the call will be Mitchell J. Krebs, President and Chief Executive Officer of Coeur, who will be joined by Peter C. Mitchell, Senior Vice President and Chief Financial Officer, Frank L. Hanagarne, Jr., Senior Vice President and Chief Operating Officer, Hans Rasmussen, Senior Vice President of Exploration, and other members of management. A replay of the call will be available through February 22, 2018.

Replay numbers:		(877) 344-7529 (U.S.)
		(855) 669-9658 (Canada)
		(412) 317-0088 (International)
Conference ID:		101 15 644

About Coeur

Coeur Mining, Inc. is a well-diversified, growing precious metals producer with six mines in the Americas employing approximately 2,300 people. Coeur's wholly-owned continuing operations include the Palmarejo silver-gold complex in Mexico, the Silvertip silver-zinc-lead mine in British Columbia, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota. In addition, the Company owns the La Preciosa project in Mexico, a silver-gold exploration stage project. Coeur conducts exploration activities in North America.

Cautionary Statements

This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated production, costs, expenses, expectations regarding Silvertip including but not limited to expected commencement of production at Silvertip, grades, exploration and development efforts, expectations regarding the planned sale of San Bartolomé and the timing thereof, expectations regarding production from the Jualin deposit at Kensington, expected free cash flow at Rochester, expectations regarding reserve and resource estimates and the timing of filing of technical reports, spot prices, returns, value and results. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the risk that expectations regarding Silvertip including the timing of commencement of production and obtaining necessary permits are not realized, the risk that the expected sale of San Bartolomé does not occur when expected or at all, the risk that commercial production is delayed at the Jualin deposit, the risk that anticipated production, cost, expense, and free cash flow levels are not attained, the risks and hazards inherent in the mining business (including risks inherent in developing large-scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), changes in the market prices of gold and silver and a sustained lower price environment, the uncertainties inherent in Coeur's production, exploratory and developmental activities, including risks relating to permitting and regulatory delays, ground conditions, grade variability, any future labor disputes or work stoppages, the uncertainties inherent in the estimation of gold and silver reserves, changes that could result from Coeur's future acquisition of new mining properties or businesses, the loss of any third-party smelter to which Coeur markets silver and gold, the effects of environmental and other governmental regulations, the risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries, the political risks and uncertainties associated with operations in Bolivia, Coeur's ability to raise additional financing necessary to conduct its business, make payments or refinance its debt, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's most recent report on Form 10-K. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

Christopher Pascoe, Coeur's Director, Technical Services and a qualified person under Canadian National Instrument 43-101, approved the scientific and technical information concerning Coeur's mineral projects in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, Canadian investors should refer to the Technical Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.

Non-U.S. GAAP Measures

We supplement the reporting of our financial information determined under United States generally accepted accounting principles (U.S. GAAP) with certain non-U.S. GAAP financial measures, including EBITDA, adjusted EBITDA, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs. We believe that these adjusted measures provide meaningful information to assist management, investors and analysts in understanding our financial results and assessing our prospects for future performance. We believe these adjusted financial measures are important indicators of our recurring operations because they exclude items that may not be indicative of, or are unrelated to our core operating results, and provide a better baseline for analyzing trends in our underlying businesses. We believe EBITDA, adjusted EBITDA, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs are important measures in assessing the Company's overall financial performance. For additional explanation regarding our use of non-U.S. GAAP financial measures, please refer to our Form 10-K for the year ended December 31, 2017.

Notes

1. EBITDA, adjusted EBITDA, adjusted net income (loss), costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver equivalent ounce (or per gold equivalent ounce or per average spot silver equivalent ounce), adjusted costs applicable to sales per silver ounce (or per gold ounce), all-in sustaining costs, and adjusted all-in sustaining costs are non-GAAP measures. Please see tables in the Appendix for the reconciliation to U.S. GAAP. Free cash flow is defined as cash flow from operating activities less capital expenditures and gold production royalty payments. Please see table in Appendix for the calculation of consolidated free cash flow. Silver and gold equivalence assumes a 60:1 silver-to-gold ratio, except where noted as average spot prices. Please see the table below for average applicable spot prices and corresponding ratios. Silver and zinc equivalence assumes a 0.06:1 silver-to-zinc ratio. Silver and lead equivalence assumes a 0.05:1 silver-to-lead ratio.

2. Includes capital leases. Net of debt issuance costs and premium received.

3. Return on investment determined based on final acquisition cost of $99.5 million in February 2015 and free cash flows of $28.8 million, $57.6 million and $40.8 million in 2015, 2016 and 2017, respectively.  Mid-period convention was used in calculating the return on investment.

Average Spot Prices

		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Average Silver Spot Price Per Ounce		$	17.05			$	16.73			$	16.84			$	17.21			$	17.42			$	17.14			$	17.19
Average Gold Spot Price Per Ounce		$	1,257			$	1,275			$	1,278			$	1,257			$	1,219			$	1,251			$	1,222
Average Silver to Gold Spot Equivalence		74:1		76:1		76:1		73:1		70:1		73:1		71:1

COEUR MINING, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
		Year ended December 31,
		2017		2016		2015
		In thousands, except share data
Revenue		$	709,598			$	571,897			$	561,407
COSTS AND EXPENSES
Costs applicable to sales(1)		440,260			335,375			403,827
Amortization		146,549			116,528			125,953
General and administrative		33,616			29,275			32,636
Exploration		30,311			12,930			11,521
Write-downs		—			4,446			246,625
Pre-development, reclamation, and other		18,936			14,411			16,204
Total costs and expenses		669,672			512,965			836,766
OTHER INCOME (EXPENSE), NET
Gain (loss) on debt extinguishment		(9,342	)		(21,365	)		15,916
Fair value adjustments, net		(864	)		(11,581	)		5,202
Interest expense, net of capitalized interest		(16,440	)		(36,896	)		(44,978	)
Other, net		26,643			98			(17,667	)
Total other income (expense), net		(3	)		(69,744	)		(41,527	)
Income (loss) before income and mining taxes		39,923			(10,812	)		(316,886	)
Income and mining tax (expense) benefit		(28,998	)		33,247			29,075
Income (loss) from continuing operations		$	10,925			$	22,435			$	(287,811	)
Income (loss) from discontinued operations		(12,244	)		32,917			(79,372	)
NET INCOME (LOSS)		$	(1,319	)		$	55,352			$	(367,183	)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:
Unrealized gain (loss) on equity securities, net of tax of ($767) for the year ended December 31, 2016		3,227			3,222			(4,154	)
Reclassification adjustments for impairment of equity securities		426			703			2,346
Reclassification adjustments for realized (gain) loss on sale of equity securities		1,354			(2,691	)		894
Other comprehensive income (loss)		5,007			1,234			(914	)
COMPREHENSIVE INCOME (LOSS)		$	3,688			$	56,586			$	(368,097	)
NET INCOME (LOSS) PER SHARE
Basic income (loss) per share:
Net income (loss) from continuing operations		$	0.06			$	0.14			$	(2.22	)
Net income (loss) from discontinued operations		(0.07	)		0.21			(0.61	)
Basic		$	(0.01	)		$	0.35			$	(2.83	)
Diluted income (loss) per share:
Net income (loss) from continuing operations		$	0.06			$	0.14			$	(2.22	)
Net income (loss) from discontinued operations		(0.07	)		0.20			(0.61	)
Diluted		$	(0.01	)		$	0.34			$	(2.83	)

COEUR MINING, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS
		Years ended December 31,
		2017		2016		2015
		In thousands
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (income) loss		$	(1,319	)		$	55,352			$	(367,183	)
(Income) loss from discontinued operations		12,244			(32,917	)		79,372
Adjustments:
Amortization		146,549			116,528			125,953
Accretion		9,980			9,142			13,332
Deferred taxes		(13,888	)		(54,184	)		(38,496	)
Loss (gain) on debt extinguishment		9,342			21,365			(15,916	)
Fair value adjustments, net		864			11,581			(5,202	)
Stock-based compensation		10,541			9,715			9,272
Gain on sale of the Joaquin project		(21,138	)		—			—
Write-downs		—			4,446			246,625
Other		(7,974	)		356			18,983
Changes in operating assets and liabilities:
Receivables		18,895			(2,783	)		(5,022	)
Prepaid expenses and other current assets		(2,015	)		(4,420	)		5,702
Inventory and ore on leach pads		23,517			(34,610	)		15,578
Accounts payable and accrued liabilities		11,562			(3,110	)		4,414
CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS		197,160			96,461			87,412
CASH PROVIDED BY OPERATING ACTIVITIES OF DISCONTINUED OPERATIONS		11,296			29,356			26,130
CASH PROVIDED BY OPERATING ACTIVITIES		208,456			125,817			113,542
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		(136,734	)		(94,382	)		(88,973	)
Acquisitions, net		(156,248	)		(1,417	)		(110,846	)
Proceeds from the sale of assets		16,705			16,296			607
Purchase of investments		(15,058	)		(178	)		(1,880	)
Sale of investments		11,321			7,077			605
Other		(217	)		(4,208	)		(4,586	)
CASH USED IN INVESTING ACTIVITIES OF CONTINUING OPERATIONS		(280,231	)		(76,812	)		(205,073	)
CASH USED IN INVESTING ACTIVITIES OF DISCONTINUED OPERATIONS		(1,392	)		(6,631	)		(6,220	)
CASH USED IN INVESTING ACTIVITIES		(281,623	)		(83,443	)		(211,293	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock		—			269,556			—
Issuance of notes and bank borrowings, net of issuance costs		342,620			—			150,000
Payments on debt, capital leases, and associated costs		(203,045	)		(318,153	)		(70,603	)
Gold production royalty payments		—			(27,155	)		(39,235	)
Other		(3,746	)		172			(542	)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES OF CONTINUING OPERATIONS		135,829			(75,580	)		39,620
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS		(84	)		(4,648	)		(10,612	)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		135,745			(80,228	)		29,008
Effect of exchange rate changes on cash and cash equivalents		203			(678	)		(1,404	)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		62,781			(38,532	)		(70,147	)
Less net cash provided by (used in) discontinued operations		(10,939	)		1,576			11,552
		73,720			(40,108	)		(81,699	)
Cash and cash equivalents at beginning of period		118,312			158,420			240,119
Cash and cash equivalents at end of period		$	192,032			$	118,312			$	158,420

COEUR MINING, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
		December 31, 2017		December 31, 2016
ASSETS		In thousands, except share data
CURRENT ASSETS
Cash and cash equivalents		$	192,032			$	118,312
Receivables		19,069			53,415
Inventory		58,230			93,436
Ore on leach pads		73,752			64,167
Prepaid expenses and other		15,053			10,015
Assets held for sale		91,421			71,442
		449,557			410,787
NON-CURRENT ASSETS
Property, plant and equipment, net		254,737			193,423
Mining properties, net		829,569			550,290
Ore on leach pads		65,393			67,231
Restricted assets		20,847			17,597
Equity and debt securities		34,837			4,488
Receivables		28,750			13,745
Other		17,485			12,585
Assets held for sale		$	—			$	48,763
TOTAL ASSETS		$	1,701,175			$	1,318,909
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable		$	48,592			$	44,660
Accrued liabilities and other		94,930			36,445
Debt		30,753			11,955
Royalty obligations		—			4,995
Reclamation		3,777			3,109
Liabilities held for sale		50,677			15,470
		228,729			116,634
NON-CURRENT LIABILITIES
Debt		380,569			198,682
Royalty obligations		—			4,292
Reclamation		117,055			85,592
Deferred tax liabilities		105,148			69,811
Other long-term liabilities		54,697			41,654
Liabilities held for sale		—			33,757
		657,469			433,788
STOCKHOLDERS' EQUITY
Common stock, par value $0.01 per share; authorized 300,000,000 shares, issued and outstanding 185,637,724 at December 31, 2017 and 180,933,287 at December 31, 2016		1,856			1,809
Additional paid-in capital		3,357,345			3,314,590
Accumulated other comprehensive income (loss)		2,519			(2,488	)
Accumulated deficit		(2,546,743	)		(2,545,424	)
		814,977			768,487
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,701,175			$	1,318,909

Adjusted EBITDA Reconciliation
(Dollars in thousands except per share amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Net income (loss)		$	(1,319	)		$	7,625			$	(16,652	)		$	(10,955	)		$	18,663			$	55,352			$	(8,306	)
(Income) loss from discontinued operations, net of tax		12,244			6,724			4,924			960			(364	)		(32,917	)		(2,020	)
Interest expense, net of capitalized interest		16,440			5,522			3,595			3,744			3,579			36,896			6,851
Income tax provision (benefit)		28,998			4,957			14,289			(1,126	)		10,878			(33,247	)		(495	)
Amortization		146,549			44,722			32,401			30,733			38,693			116,528			28,625
EBITDA		202,912			69,550			38,557			23,356			71,449			142,612			24,655
Fair value adjustments, net		864			—			—			(336	)		1,200			11,581			(1,654	)
Impairment of equity and debt securities		426			—			—			305			121			703			683
Foreign exchange (gain) loss		(1,281	)		672			39			(786	)		(1,206	)		11,455			3,595
Gain on sale of Joaquin project		(21,138	)		—			—			—			(21,138	)		—			—
(Gain) loss on sale of assets and securities		1			499			(2,051	)		(513	)		2,066			(11,334	)		339
Gain on repurchase of Rochester royalty		(2,332	)		—			—			(2,332	)		—			—			—
Loss on debt extinguishment		9,342			—			—			9,342			—			21,365			11,325
Corporate reorganization costs		—			—			—			—			—			—			—
Transaction costs		3,757			2,938			819			—			—			1,199			1
Asset retirement obligation accretion		8,983			2,475			2,223			2,169			2,116			7,263			1,860
Inventory adjustments and write-downs		1,806			885			659			715			(94	)		5,590			189
Write-downs		—			—			—			—			—			4,446			—
Adjusted EBITDA		$	203,340			$	77,019			$	40,246			$	31,920			$	54,514			$	194,880			$	40,993

Adjusted Net Income (Loss) Reconciliation
(Dollars in thousands except per share amounts)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Net income (loss)		$	(1,319	)		$	7,625			$	(16,652	)		$	(10,955	)		$	18,663			$	55,352			$	(8,306	)
(Income) loss from discontinued operations, net of tax		12,244			6,724			4,924			960			(364	)		(32,917	)		(2,020	)
Fair value adjustments, net		864			—			—			(336	)		1,200			11,581			(1,654	)
Impairment of equity and debt securities		426			—			—			305			121			703			683
Write-downs		—			—			—			—			—			4,446			—
Inventory write-downs		—			—			—			—			—			3,689			—
Gain on sale of Joaquin project		(21,138	)		—			—			—			(21,138	)		—			—
(Gain) loss on sale of assets and securities		1			499			(2,051	)		(513	)		2,066			(11,334	)		339
Gain on repurchase of Rochester royalty		(2,332	)		—			—			(2,332	)		—			—			—
(Gain) loss on debt extinguishment		9,342			—			—			9,342			—			21,365			11,325
Corporate reorganization costs		—			—			—			—			—			—			—
Transaction costs		3,757			2,938			819			—			—			1,199			1
Deferred tax on reorganization		—			—			—			—			—			(40,767	)		—
Foreign exchange loss (gain)		1,562			(3,643	)		(1,392	)		2,186			4,411			(299	)		511
Tax effect of adjustments(1)		816			—			(991	)		—			1,807			2,583			—
Adjusted net income (loss)		$	4,223			$	14,143			$	(15,343	)		$	(1,343	)		$	6,766			$	15,601			$	879
Adjusted net income (loss) per share - Basic		$	0.02			$	0.08			$	(0.09	)		$	(0.01	)		$	0.04			$	0.10			$	0.01
Adjusted net income (loss) per share - Diluted		$	0.02			$	0.08			$	(0.09	)		$	(0.01	)		$	0.04			$	0.10			$	0.01

Consolidated Free Cash Flow Reconciliation
(Dollars in thousands)		2017		4Q 2017		3Q 2017		2Q 2017		1Q 2017		2016		4Q 2016
Cash flow from continuing operations		$	197,160			$	91,811			$	37,308			$	24,103			$	43,938			$	96,461			$	21,423
Capital expenditures from continuing operations		136,734			47,054			28,982			37,107			23,591			94,382			28,134
Gold production royalty payments		—			—			—			—			—			27,155			—
Free cash flow		60,426			44,757			8,326			(13,004	)		20,347			(25,076	)		(6,711	)

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Year Ended December 31, 2017
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf		Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	219,920			$	130,227			$	1,046			$	351,193			$	152,118			$	82,334			$	234,452			$	585,645
Amortization			73,744				22,306				301				96,351				36,022				13,012			49,034				145,385
Costs applicable to sales		$	146,176			$	107,921			$	745			$	254,842			$	116,096			$	69,322			$	185,418			$	440,260
Silver equivalent ounces sold			15,490,734				8,209,888				107,027				23,807,649												37,334,889
Gold equivalent ounces sold															125,982				99,472			225,454
Costs applicable to sales per ounce		$	9.44			$	13.15			$	6.96			$	10.70			$	922			$	697			$	822			$	11.79
Inventory adjustments			(0.08	)			(0.07	)			—				(0.08	)			(2	)			3			—				(0.05	)
Adjusted costs applicable to sales per ounce		$	9.36			$	13.08			$	6.96			$	10.62			$	920			$	700			$	822			$	11.74
Costs applicable to sales per average spot ounce		$	8.45			$	12.04						$	9.66											$	10.24
Inventory adjustments			(0.07	)			(0.07	)						(0.07	)											(0.04	)
Adjusted costs applicable to sales per average spot ounce		$	8.38			$	11.97						$	9.59											$	10.20
Costs applicable to sales																						$	440,260
Treatment and refining costs																							5,912
Sustaining capital(1)																							65,010
General and administrative																							33,616
Exploration																							30,311
Reclamation																							14,910
Project/pre-development costs																							5,543
All-in sustaining costs																						$	595,562
Silver equivalent ounces sold																							23,807,649
Kensington and Wharf silver equivalent ounces sold																	13,527,240
Consolidated silver equivalent ounces sold																	37,334,889
All-in sustaining costs per silver equivalent ounce																$	15.95
Inventory adjustments																						$	(0.05	)
Adjusted all-in sustaining costs per silver equivalent ounce																$	15.90
Consolidated silver equivalent ounces sold (average spot)																	42,969,841
All-in sustaining costs per average spot silver equivalent ounce																$	13.86
Inventory adjustments																						$	(0.04	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce															$	13.82

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended December 31, 2017
		Silver			Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	58,775			$	41,006			$	—			$	99,781			$	42,640			$	24,033			$	66,673			$	166,454
Amortization			22,749				6,960				—				29,709				10,633				4,129				14,762				44,471
Costs applicable to sales		$	36,026			$	34,046			$	—			$	70,072			$	32,007			$	19,904			$	51,911			$	121,983
Silver equivalent ounces sold			4,680,802				2,657,975				—				7,338,777													11,232,057
Gold equivalent ounces sold															35,633				29,255				64,888
Costs applicable to sales per ounce		$	7.70			$	12.81			$	—			$	9.55			$	898			$	680			$	800			$	10.86
Inventory adjustments			(0.16	)			(0.04	)			—				(0.12	)			(2	)			2			—					(0.08	)
Adjusted costs applicable to sales per ounce		$	7.54			$	12.77			$	—			$	9.43			$	896			$	682			$	800			$	10.78
Costs applicable to sales per average spot ounce		$	6.78			$	11.41						$	8.45												$	9.21
Inventory adjustments			(0.14	)			(0.04	)						(0.10	)												(0.07	)
Adjusted costs applicable to sales per average spot ounce		$	6.64			$	11.37						$	8.35												$	9.14
Costs applicable to sales																							$	121,983
Treatment and refining costs																								1,600
Sustaining capital																								18,520
General and administrative																								9,120
Exploration																								7,455
Reclamation																								4,075
Project/pre-development costs																								578
All-in sustaining costs																							$	163,331
Silver equivalent ounces sold																								7,338,777
Kensington and Wharf silver equivalent ounces sold																		3,893,280
Consolidated silver equivalent ounces sold																		11,232,057
All-in sustaining costs per silver equivalent ounce																	$	14.53
Inventory adjustments																							$	(0.08	)
Adjusted all-in sustaining costs per silver equivalent ounce																	$	14.45
Consolidated silver equivalent ounces sold (average spot)																		13,246,634
All-in sustaining costs per average spot silver equivalent ounce																	$	12.33
Inventory adjustments																							$	(0.07	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	12.26

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended September 30, 2017
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	49,669			$	27,866			$	59			$	77,594			$	35,522			$	20,553			$	56,075			$	133,669
Amortization			16,414				4,591				20				21,025				7,864				3,223				11,087				32,112
Costs applicable to sales		$	33,255			$	23,275			$	39			$	56,569			$	27,658			$	17,330			$	44,988			$	101,557
Silver equivalent ounces sold			3,386,963				1,673,704				8,027				5,068,694													8,264,174
Gold equivalent ounces sold															29,173				24,085				53,258
Costs applicable to sales per ounce		$	9.82			$	13.91			$	4.86			$	11.16			$	948			$	720			$	845			$	12.29
Inventory adjustments			(0.06	)			(0.22	)			—				(0.11	)			(2	)			(1	)			(2	)			(0.08	)
Adjusted costs applicable to sales per ounce		$	9.76			$	13.69			$	4.86			$	11.05			$	946			$	719			$	843			$	12.21
Costs applicable to sales per average spot ounce		$	8.73			$	12.66						$	10.00												$	10.47
Inventory adjustments			(0.05	)			(0.20	)						(0.10	)												(0.07	)
Adjusted costs applicable to sales per average spot ounce		$	8.68			$	12.46						$	9.90												$	10.40
Costs applicable to sales																							$	101,557
Treatment and refining costs																								1,408
Sustaining capital																								18,126
General and administrative																								7,345
Exploration																								9,792
Reclamation																								3,915
Project/pre-development costs																								1,979
All-in sustaining costs																							$	144,122
Silver equivalent ounces sold																								5,068,694
Kensington and Wharf silver equivalent ounces sold																		3,195,480
Consolidated silver equivalent ounces sold																		8,264,174
All-in sustaining costs per silver equivalent ounce																	$	17.43
Inventory adjustments																	$	(0.08	)
Adjusted all-in sustaining costs per silver equivalent ounce																	$	17.35
Consolidated silver equivalent ounces sold (average spot)																		9,698,654
All-in sustaining costs per average spot silver equivalent ounce																	$	14.86
Inventory adjustments																	$	(0.07	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	14.79

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended June 30, 2017
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	48,325			$	29,099			$	586			$	78,010			$	36,335			$	18,317			$	54,652			$	132,662
Amortization			14,431				4,938				168				19,537				8,347				2,549				10,896				30,433
Costs applicable to sales		$	33,894			$	24,161			$	418			$	58,473			$	27,988			$	15,768			$	43,756			$	102,229
Silver equivalent ounces sold			2,995,623				1,774,000				59,234				4,828,857													7,860,417
Gold equivalent ounces sold															29,031				21,495				50,526
Costs applicable to sales per ounce		$	11.31			$	13.62			$	7.06			$	12.11			$	964			$	734			$	866			$	13.01
Inventory adjustments			(0.10	)			(0.08	)		—					(0.09	)			(12	)			3				(6	)			(0.09	)
Adjusted costs applicable to sales per ounce		$	11.21			$	13.54			$	7.06			$	12.02			$	952			$	737			$	860			$	12.92
Costs applicable to sales per average spot ounce		$	10.20			$	12.63						$	11.04												$	11.38
Inventory adjustments			(0.09	)			(0.07	)						(0.08	)												(0.08	)
Adjusted costs applicable to sales per average spot ounce		$	10.11			$	12.56						$	10.96												$	11.30
Costs applicable to sales																							$	102,229
Treatment and refining costs																								1,288
Sustaining capital																								17,173
General and administrative																								7,025
Exploration																								7,813
Reclamation																								3,581
Project/pre-development costs																								1,677
All-in sustaining costs																							$	140,786
Silver equivalent ounces sold																								4,828,857
Kensington and Wharf silver equivalent ounces sold																		3,031,560
Consolidated silver equivalent ounces sold																		7,860,417
All-in sustaining costs per silver equivalent ounce																	$	17.90
Inventory adjustments																							$	(0.09	)
Adjusted all-in sustaining costs per silver equivalent ounce																	$	17.81
Consolidated silver equivalent ounces sold (average spot)																		8,990,166
All-in sustaining costs per average spot silver equivalent ounce																	$	15.66
Inventory adjustments																							$	(0.08	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	15.58

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended March 31, 2017
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	63,151			$	32,255			$	400			$	95,806			$	37,621			$	19,431			$	57,052			$	152,858
Amortization			20,150				5,816				113				26,079				9,178				3,111				12,289				38,368
Costs applicable to sales		$	43,001			$	26,439			$	287			$	69,727			$	28,443			$	16,320			$	44,763			$	114,490
Silver equivalent ounces sold			4,427,346				2,104,209				39,765				6,571,320													9,978,120
Gold equivalent ounces sold															32,144				24,636				56,780
Costs applicable to sales per ounce		$	9.71			$	12.56			$	7.22			$	10.61			$	885			$	662			$	788			$	11.47
Inventory adjustments			(0.03	)			0.01				—				(0.01	)			(1	)			8				3				(0.01	)
Adjusted costs applicable to sales per ounce		$	9.68			$	12.57			$	7.22			$	10.60			$	884			$	670			$	791			$	11.46
Costs applicable to sales per average spot ounce		$	8.89			$	11.80						$	9.80												$	10.33
Inventory adjustments			(0.02	)			0.01							(0.01	)												0.01
Adjusted costs applicable to sales per average spot ounce		$	8.87			$	11.81						$	9.79												$	10.34
Costs applicable to sales																							$	114,490
Treatment and refining costs																								1,616
Sustaining capital																								11,191
General and administrative																								10,125
Exploration																								5,252
Reclamation																								3,338
Project/pre-development costs																								1,419
All-in sustaining costs																							$	147,431
Silver equivalent ounces sold																								6,571,320
Kensington and Wharf silver equivalent ounces sold																		3,406,800
Consolidated silver equivalent ounces sold																		9,978,120
All-in sustaining costs per silver equivalent ounce																	$	14.77
Inventory adjustments																							$	0.01
Adjusted all-in sustaining costs per silver equivalent ounce																	$	14.78
Consolidated silver equivalent ounces sold (average spot)																		11,093,378
All-in sustaining costs per average spot silver equivalent ounce																	$	13.29
Inventory adjustments																							$	0.01
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	13.30

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Year Ended December 31, 2016
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total			Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	117,419			$	111,564			$	2,363			$	231,346			$	131,518			$	87,000			$	218,518			$	449,864
Amortization			36,599				21,838				644				59,081				34,787				20,621				55,408				114,489
Costs applicable to sales		$	80,820			$	89,726			$	1,719			$	172,265			$	96,731			$	66,379			$	163,110			$	335,375
Silver equivalent ounces sold			7,538,311				7,542,740				262,078				15,343,129													29,221,609
Gold equivalent ounces sold															121,688				109,620				231,308
Costs applicable to sales per ounce		$	10.72			$	11.90			$	6.56			$	11.23			$	795			$	606			$	705			$	11.48
Inventory adjustments			(0.17	)			(0.04	)			—				(0.11	)			(5	)			(31	)			(17	)			(0.19	)
Adjusted costs applicable to sales per ounce		$	10.55			$	11.86			$	6.56			$	11.12			$	790			$	575			$	688			$	11.29
Costs applicable to sales per average spot ounce		$	9.73			$	10.97						$	10.29												$	9.98
Inventory adjustments			(0.16	)			(0.04	)						(0.10	)												(0.17	)
Adjusted costs applicable to sales per average spot ounce		$	9.57			$	10.93						$	10.19												$	9.81
Costs applicable to sales																							$	335,375
Treatment and refining costs																								4,307
Sustaining capital(1)																								71,134
General and administrative																								29,275
Exploration																								12,930
Reclamation																								13,291
Project/pre-development costs																								5,779
All-in sustaining costs																							$	472,091
Silver equivalent ounces sold																								15,343,129
Kensington and Wharf silver equivalent ounces sold																		13,878,480
Consolidated silver equivalent ounces sold																		29,221,609
All-in sustaining costs per silver equivalent ounce																	$	16.16
Inventory adjustments																							$	(0.19	)
Adjusted all-in sustaining costs per silver equivalent ounce																	$	15.97
Consolidated silver equivalent ounces sold (average spot)																	33,600,783
All-in sustaining costs per average spot silver equivalent ounce																	$	14.05
Inventory adjustments																							$	(0.17	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	13.88

Reconciliation of All-in Sustaining Costs per Silver Equivalent Ounce for Three Months Ended December 31, 2016
		Silver		Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Endeavor			Total			Kensington			Wharf			Total		Total
Costs applicable to sales, including amortization (U.S. GAAP)		$	29,667			$	29,581			$	557			$	59,805			$	31,577			$	21,861			$	53,438			$	113,243
Amortization			8,784				5,844				148				14,776				8,584				4,982				13,566				28,342
Costs applicable to sales		$	20,883			$	23,737			$	409			$	45,029			$	22,993			$	16,879			$	39,872			$	84,901
Silver equivalent ounces sold			1,871,178				1,983,393				57,903				3,912,474													7,456,614
Gold equivalent ounces sold															28,864				30,205				59,069
Costs applicable to sales per ounce		$	11.16			$	11.97			$	7.06			$	11.51			$	797			$	559			$	675			$	11.39
Inventory adjustments			(0.15	)			0.02				—				(0.06	)			4				(3	)			1				(0.03	)
Adjusted costs applicable to sales per ounce		$	11.01			$	11.99			$	7.06			$	11.45			$	801			$	556			$	676			$	11.36
Costs applicable to sales per average spot ounce		$	10.24			$	11.14						$	10.65												$	10.08
Inventory adjustments			(0.13	)			0.02							(0.06	)												(0.02	)
Adjusted costs applicable to sales per average spot ounce		$	10.11			$	11.16						$	10.59												$	10.06
Costs applicable to sales																							$	84,901
Treatment and refining costs																								1,261
Sustaining capital																								18,039
General and administrative																								6,577
Exploration																								5,261
Reclamation																								3,022
Project/pre-development costs																								1,507
All-in sustaining costs																							$	120,568
Silver equivalent ounces sold																								3,912,474
Kensington and Wharf silver equivalent ounces sold																		3,544,140
Consolidated silver equivalent ounces sold																		7,456,614
All-in sustaining costs per silver equivalent ounce																	$	16.16
Inventory adjustments																							$	(0.03	)
Adjusted all-in sustaining costs per silver equivalent ounce																	$	16.13
Consolidated silver equivalent ounces sold (average spot)																	8,425,437
All-in sustaining costs per average spot silver equivalent ounce																	$	14.31
Inventory adjustments																							$	(0.02	)
Adjusted all-in sustaining costs per average spot silver equivalent ounce																$	14.29

Reconciliation of All-in Sustaining Costs per 60:1 Silver Equivalent Ounce for 2018 Guidance
		Silver	Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Silvertip		Total Silver		Kensington			Wharf		Total Gold		Total Combined
Costs applicable to sales, including amortization (U.S. GAAP)		$	208,000			$	116,300			$	88,000		$	412,300		$	146,100			$	89,700		$	235,800		$	648,100
Amortization			63,300				18,900				20,000			102,200			40,400				12,100			52,500			154,700
Costs applicable to sales		$	144,700			$	97,400			$	68,000		$	310,100		$	105,700			$	77,600		$	183,300		$	493,400
Silver equivalent ounces sold			13,700,000				7,300,000				4,500,000			25,500,000										37,800,000
Gold equivalent ounces sold													117,500				87,500			205,000
Costs applicable to sales per ounce		$	10.50 - $11.00		$	13.25 - $13.75		$	15.00 - $15.50			$	900 - $950		$	850 - $900
Costs applicable to sales																			$	493,400
Treatment and refining costs																				12,000
Sustaining capital, including capital lease payments															100,000
General and administrative																				33,000
Exploration																				22,000
Reclamation																				15,700
Project/pre-development costs																		2,900
All-in sustaining costs																	$	679,000
Silver equivalent ounces sold																	25,500,000
Kensington and Wharf silver equivalent ounces sold												12,300,000
Consolidated silver equivalent ounces sold														37,800,000
All-in sustaining costs per silver equivalent ounce											$	17.50 - $18.00

Reconciliation of All-in Sustaining Costs per Spot Silver Equivalent Ounce for 2018 Guidance
		Silver	Gold
In thousands except per ounce amounts			Palmarejo			Rochester			Silvertip		Total Silver		Kensington			Wharf		Total Gold		Total Combined
Costs applicable to sales, including amortization (U.S. GAAP)		$	208,000			$	116,300			$	88,000		$	412,300		$	146,100			$	89,700		$	235,800		$	648,100
Amortization			63,300				18,900				20,000			102,200			40,400				12,100			52,500			154,700
Costs applicable to sales		$	144,700			$	97,400			$	68,000		$	310,100		$	105,700			$	77,600		$	183,300		$	493,400
Silver equivalent ounces sold			15,387,500				8,012,500				5,750,000			29,150,000										44,525,000
Gold equivalent ounces sold													117,500				87,500			205,000
Costs applicable to sales per ounce		$	9.25 - $9.75		$	12.00 - $12.50		$	12.00 - $12.50			$	900 - $950		$	850 - $900
Costs applicable to sales																			$	493,400
Treatment and refining costs																				12,000
Sustaining capital, including capital lease payments																100,000
General and administrative																				33,000
Exploration																				22,000
Reclamation																				15,700
Project/pre-development costs																	2,900
All-in sustaining costs																$	679,000
Silver equivalent ounces sold															29,150,000
Kensington and Wharf silver equivalent ounces sold												15,375,000
Consolidated silver equivalent ounces sold														44,525,000
All-in sustaining costs per silver equivalent ounce											$	15.00 - $15.50

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