Coeur to Acquire Remaining Interest in the Joaquin Silver-Gold Project

  Coeur to Acquire Remaining Interest in the Joaquin Silver-Gold Project

Business Wire

COEUR D’ALENE, Idaho -- December 11, 2012

Coeur d’Alene Mines Corporation (NYSE:CDE)(TSX:CDM) (“Coeur” or the “Company”)
announced today that Mirasol Resources Ltd. (“Mirasol”) has agreed to sell to
Coeur its wholly-owned Argentine subsidiary, Mirasol Argentina SRL, which
holds the Joaquin silver-gold project in the Santa Cruz province of Argentina.
Coeur currently has a 51% interest in the project. The Company will pay
Mirasol total consideration of US$60 million, being approximately US$30
million in cash and 1,310,043 common shares.

Mitchell J. Krebs, Coeur's President and Chief Executive Officer, said, “We
are pleased to consolidate our ownership in the Joaquin project. We believe
Joaquin has substantial exploration upside and the potential to become a
significant silver producer for the Company. We intend to continue the
drilling program at Joaquin in 2013 and accelerate work on a feasibility
study. The subsequent development decision will be based on the economics of
the project and our assessment of the political and business environment in
Argentina at that time.”

Upon completion of the acquisition, Coeur will own 100% of the Joaquin
project, which has a recently updated Canadian National Instrument (NI) 43-101
mineral estimate of 38.4 million silver ounces in measured and indicated
resources, and 31.3 million silver ounces in inferred resources. In addition,
Joaquin contains 39,600 gold ounces in measured and indicated resources and
19,400 gold ounces in inferred resources.

Mineral Resources for the Joaquin Project at September 2012
                                                 
                  Short          Grade                        Contained
                  Tons
                  (000)      (Oz/Ton)                 Ounces
                       Silver     Gold      Silver     Gold
                                                              (000)
Measured                                                            
Resources
Oxides            1,543          2.64           0.003         4,200          4,900
Sulfides      220        5.43       0.003     1,300      800
Total         1,763      3.01       0.003     5,500      5,700
Measured
Indicated
Resources
Oxides            10,582         2.62           0.003         27,600         30,300
Sulfides      1,102      4.75       0.003     5,300      3,700
Total         11,684     2.82       0.003     33,000     34,000
Indicated
Measured
and
Indicated
Resources
Oxides            12,125         2.62           0.003         31,800         35,100
Sulfides      1,323      4.87       0.003     6,600      4,500
Total
Measured      13,448     2.85       0.003     38,400     39,600
and
Indicated
Inferred
Resources
Oxides            6,614          2.92           0.002         19,300         11,900
Sulfides      2,094      5.80       0.004     12,000     7,500
Total         8,708      3.61       0.002     31,300     19,400
Inferred

1.From September 21, 2012 Technical Report.
2.Metal prices used were $30 per silver ounce and $1,500 per gold ounce.
3.Oxide mineral resources estimated using a cutoff grade of 30 grams per
    tonne (0.88 ounce per ton) silver and sulfide mineral resources with a
    cutoff grade of 34 grams per tonne (0.99 ounce per ton) silver within
    Whittle^®-estimated surface mine parameters.
4.Mineral resources estimated by the consulting firm of NCL Ingeniería y
    Construcción Ltda. in Santiago, Chile.
5.Mineral resources that are not mineral reserves have not demonstrated
    economic viability.
6.Tons and grades were converted from metric tonnes and grams per tonne.
    Rounding may result in apparent differences between tons and grades
    contained ounces.

The transaction is supported unanimously by the respective boards of directors
of both Coeur and Mirasol. The transaction does not require the approval of
the shareholders of either Coeur or Mirasol.

Coeur expects the transaction to close before the end of 2012, subject to
customary closing conditions.

In November 2006, Coeur and Mirasol entered into an exploration and joint
venture option agreement with respect to the Joaquin project. In 2010, Coeur
vested at 51% interest and has since proceeded to advance the project towards
feasibility stage.

BMO Capital Markets is acting as financial advisor to Coeur and Goodmans LLP
is acting as legal counsel to Coeur in connection with the acquisition.

Cautionary Statement

This news release contains forward-looking statements within the meaning of
securities legislation in the United States and Canada, including statements
regarding anticipated closing of the proposed transaction, consolidation of
ownership, exploration upside, silver production and rate of return for the
Joaquin project. 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, any failure to
satisfy necessary closing conditions under the definitive agreement, any
failure or delay in obtaining required governmental or stock exchange
approvals, the risks and hazards inherent in the mining business (including
environmental hazards, industrial accidents, weather or geologically related
conditions), changes in the market prices of gold and silver, the
uncertainties inherent in Coeur's production, exploratory and developmental
activities, including risks relating to permitting and regulatory delays, any
future labor disputes or work stoppages, the uncertainties inherent in the
estimation of gold and silver ore reserves, changes that could result from
Coeur's future acquisition of new mining properties or businesses, 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 and particularly Argentina, Coeur's ability to raise
additional financing necessary to develop the Joaquin project, 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
reports on Form 10-K and Form 10-Q. 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.

Donald J. Birak, Coeur's Senior Vice President of Exploration and a qualified
person under Canadian NI 43-101, supervised the preparation of 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, please see the Technical
Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.

Cautionary Note to U.S. Investors - The United States Securities and Exchange
Commission permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can economically and
legally extract or produce. We may use certain terms in public disclosures,
such as "measured," "indicated," "inferred” and "resources," that are
recognized by Canadian regulations, but that SEC guidelines generally prohibit
U.S. registered companies from including in their filings with the SEC. U.S.
investors are urged to consider closely the disclosure in our Form 10-K which
may be secured from us, or from the SEC's website at http://www.sec.gov.

Contact:

Coeur d’Alene Mines Corporation
Wendy Yang, Vice President of Investor Relations
208-665-0345
or
Stefany Bales, Director of Corporate Communications
208-667-8263
 
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