15
LBMA/LPPM Precious Metals Conference 01/10/2013 Session 6 ‐ Krebs 1 NYSE: CDE | TSX: CDM LBMA Precious Metals Conference Mitchell J. Krebs – President, Chief Executive and Director The Future of Silver Mining 1 st October, 2013 2 NYSE: CDE | TSX: CDM Cautionary Statements This presentation contains numerous forwardlooking statements relating to Coeur’s business, including expectations as to anticipated operating results and production levels as well as expectations regarding the results of the La Preciosa PEA, including estimation of mineral resources. Such forwardlooking statements are identified by the use of words such as “believes,” “intends,” “expects,” “hopes,” “may,” “should,” “will,” “plan,” “projected,” “contemplates,” “anticipates” or similar words. Actual results, performance or achievements could differ materially from those projected in the forwardlooking statements. The factors that could cause actual results to differ materially from those in the forwardlooking statements include, among others: (i) the risk factors set forth in Coeur’s reports on Form 10K and Form 10Q; (ii) risks and hazards inherent in the mining business (including risks inherent in developing largescale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions); (iii) changes in the market prices of gold and silver and a sustained lower price environment; (iv) uncertainties inherent in Coeur’s production, exploratory and developmental activities, including risks relating to permitting and regulatory delays; (v) any future labor disputes or work stoppages; (vi) uncertainties inherent in the estimation of gold and silver ore reserves; (vii) changes that could result from Coeur’s future acquisition of new mining properties or businesses; (viii) reliance on third parties to operate certain mines where Coeur owns silver production and reserves; (ix) the loss of any thirdparty smelter to which Coeur markets silver and gold; (x) effects of environmental and other governmental regulations; (xi) risks inherent in the ownership or operation of or investment in mining properties or businesses in foreign countries; (xii) the worldwide economic downturn and difficult conditions in the global capital and credit markets; and (xiii) planned expansions at Rochester and San Bartolomé and related expected financial returns and development of the La Preciosa project. Coeur disclaims any intent or obligation to update publicly these forwardlooking statements, whether as a result of new information, future events or otherwise. The references herein are in U.S. dollars and U.S. customary units. The La Preciosa PEA referenced in this presentation is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves and there is no certainty that the results reflected in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for minability, selectivity, mining loss and dilution. There is no certainty that the inferred mineral resources will be converted to the measured and indicated categories or that the measured and indicated mineral resources will be converted to the proven and probable mineral reserve categories. Donald J. Birak, Coeur's Senior Vice President of Exploration and a qualified person under Canadian National Instrument 43101, reviewed and approved the scientific and technical disclosures concerning Coeur's mineral projects contained herein. 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, sociopolitical, 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 use certain terms in this presentation, 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 most recent Form 10K and Form 10Q which may be obtained from us, or from the SEC’s website at http://www.sec.gov.

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Page 1: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 1

NYSE: CDE | TSX: CDM

LBMA Precious Metals ConferenceMitchell J. Krebs – President, Chief Executive and Director

The Future of Silver Mining

1st October, 2013

2NYSE: CDE | TSX: CDM

Cautionary Statements

This presentation contains numerous forward‐looking statements relating to Coeur’s business, including expectations as to anticipated operating results and production levels aswell as expectations regarding the results of the La Preciosa PEA, including estimation of mineral resources. Such forward‐looking statements are identified by the use of words such as“believes,” “intends,” “expects,” “hopes,” “may,” “should,” “will,” “plan,” “projected,” “contemplates,” “anticipates” or similar words. Actual results, performance or achievementscould differ materially from those projected in the forward‐looking statements. The factors that could cause actual results to differ materially from those in the forward‐lookingstatements include, among others: (i) the risk factors set forth in Coeur’s reports on Form 10‐K and Form 10‐Q; (ii) risks and hazards inherent in the mining business (including risksinherent in developing large‐scale mining projects, environmental hazards, industrial accidents, weather or geologically related conditions); (iii) changes in the market prices of goldand silver and a sustained lower price environment; (iv) uncertainties inherent in Coeur’s production, exploratory and developmental activities, including risks relating to permittingand regulatory delays; (v) any future labor disputes or work stoppages; (vi) uncertainties inherent in the estimation of gold and silver ore reserves; (vii) changes that could result fromCoeur’s future acquisition of new mining properties or businesses; (viii) reliance on third parties to operate certain mines where Coeur owns silver production and reserves; (ix) theloss of any third‐party smelter to which Coeur markets silver and gold; (x) effects of environmental and other governmental regulations; (xi) risks inherent in the ownership oroperation of or investment in mining properties or businesses in foreign countries; (xii) the worldwide economic downturn and difficult conditions in the global capital and creditmarkets; and (xiii) planned expansions at Rochester and San Bartolomé and related expected financial returns and development of the La Preciosa project. Coeur disclaims any intentor obligation to update publicly these forward‐looking statements, whether as a result of new information, future events or otherwise. The references herein are in U.S. dollars andU.S. customary units.

The La Preciosa PEA referenced in this presentation is preliminary in nature and it includes inferred mineral resources that are considered too speculative geologically to havethe economic considerations applied to them that would enable them to be characterized as mineral reserves and there is no certainty that the results reflected in the PEA will berealized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for minability, selectivity, miningloss and dilution. There is no certainty that the inferred mineral resources will be converted to the measured and indicated categories or that the measured and indicated mineralresources will be converted to the proven and probable mineral reserve categories.

Donald J. Birak, Coeur's Senior Vice President of Exploration and a qualified person under Canadian National Instrument 43‐101, reviewed and approved the scientific andtechnical disclosures concerning Coeur's mineral projects contained herein. For a description of the key assumptions, parameters and methods used to estimate mineral reserves andresources, 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 thosemineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation, 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 most recent Form 10‐K and Form 10‐Qwhich may be obtained from us, or from the SEC’s website at http://www.sec.gov.

Page 2: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 2

3NYSE: CDE | TSX: CDM

Discussion Topics

▪ Industry overview

▪ Global silver reserve, resource and production trends

▪ Assessment of future mine supply of silver

▪ Current industry challenges

▪ Summary of Coeur Mining, Inc.

4NYSE: CDE | TSX: CDM

Positive Macroeconomic Picture for Precious Metals

▪ Challenging long‐term US economic outlook:▪ Continued budget deficits, growing national debt, aging demographics

▪ Mandatory outlays to increase +80% over next decade

▪ Activist Fed policies & continued fiscal stimulus creating financial imbalances

▪ Stronger recent U.S. economic data and USD has led to a surge in optimism and a precious metals sell‐off

▪ Global economic outlook:▪ Modest forecasted global GDP growth▪ Rising budget deficits and continued economic challenges in Europe

▪ Activist central bank policies & continued fiscal stimulus

▪ Slower growth in China/developing economies

Annual U.S. Fiscal Surplus/(Deficit)

Projected US national debt (trillions)

$0

$5

$10

$15

$20

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

‐$2,000

‐$1,750

‐$1,500

‐$1,250

‐$1,000

‐$750

‐$500

‐$250

$0

$250

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Source: CBO

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LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 3

5NYSE: CDE | TSX: CDM

0

200

400

600

800

1,000

1,200

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Million ounces

Mine Production Net Government Sales

Scrap Producer Hedging

Implied Net Disinvestment

0

200

400

600

800

1,000

1,200

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Million ounces

Industrial Applications  Photography

Jewelry  Silverware

Coins & Medals Producer De‐Hedging

Implied Net Investment

Source: Thomson Reuters GFMS

▪ One billion ounce industry; $20 billion market size

▪ Diverse, balanced, and growing demand profile

▪ Industrial applications (~55%)

▪ Investment demand (~20%)

▪ Jewelry demand (~25%) 

▪ New uses, rising electronics demand in emerging markets, and physical‐backed ETFs fueling demand growth

▪ Investment demand key to maintaining prices

▪ Limited growth in total silver supply

▪ Mine production provides 75% of total supply

▪ Scrap represents the remaining 25%

▪ Mine supply projected to grow at a net 1% CAGR through 2020

▪ By‐product output, greater uncertainty surrounding new projects, and lack of new discoveries impact the outlook for supply

World silver supply

Silver Industry Overview

World silver demand

Source: Thomson Reuters GFMS

NYSE: CDE | TSX: CDM 6

Silver Resources and Reserves by Country

Source: Metals Economics Group

The top 10 silver countries by resource collectively contribute ~80% of the world’s known silver supply 

Rank Country ResourceResource

ContributionReserve

Reserve Contribution

(mm oz Ag) (%) (mm oz Ag) (%)

1 Mexico 10,664 18% 3,472 20%

2 United States 7,137 12% 1,615 9%

3 Peru 6,357 11% 2,438 14%

4 Bolivia 4,986 8% 772 5%

5 Australia 4,211 7% 916 5%

6 China 3,781 6% 1,013 6%

7 Canada 3,704 6% 781 5%

8 Argentina 2,525 4% 550 3%

9 Poland 2,240 4% 1,339 8%

10 Russia 2,188 4% 1,115 7%

Other 12,386 21% 3,099 18%

Page 4: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 4

NYSE: CDE | TSX: CDM 7

Country Silver Producer Ranking

Ranking Country Output (mm oz)

2011 2012 2011 2012

1 1 Mexico 154 162

3 2 China 105 117

2 3 Peru 110 111

4 4 Australia 56 57

8 5 Russia 39 45

6 6 Poland 41 41

7 7 Bolivia 39 40

5 8 Chile 41 37

9 9 United States 36 33

10 10 Argentina 23 24

11 11 Canada 19 21

12 12 Kazakhstan 18 18

17 13 India 8 13

14 14 Sweden 9 10

13 15 Turkey 9 8

16 16 Morocco 8 7

15 17 Guatemala 9 7

18 18 Indonesia 6 4

19 19 Islamic Rep. of Iran 3 3

21 20 South Africa 3 3

Rest of the World 25 26

Total 757 787Source: GFMS World Silver Survey 2013Note: Rankings of silver production, primary product and by‐product, by country

China a major silver producer; production largely from private sources

Top 5 producing countries were responsible for 63% of silver mined in 2012

8NYSE: CDE | TSX: CDM

Global Silver Production by Region

Source:  GFMS, BMO Capital Markets

4‐5% “gross” annual production growth assumes several mines currently “at risk”

Page 5: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 5

NYSE: CDE | TSX: CDM 9

New Silver Mines Expected by 2018

Cerro MoroCerro Negro

Fuwan

GC Project

Pascua Llama

InmaculadaAzucaCoraniSan Luis

Escobal

Del ToroSan JulianJuanicipio

Hycroft

New mine development heavily concentrated in Latin and South America

Source: BMO Capital Markets Equity ResearchNote: Considers public companies only; projects entering production by 2018

NYSE: CDE | TSX: CDM 10

New Mines ‐ Expected Annual Silver Production

Potential for 15 new mines and 129 million oz of new silver production by 2018

0

5

10

15

20

25

30

Average Annual Silver Production (m

m oz)

2013 Projects 2014 Projects 2015 Projects 2016 Projects 2017 Projects 2018 Projects

New production largely driven by a small number of large projects

Source: BMO Capital Markets Equity ResearchNote: Based on BMO Capital Markets Equity Research coverage universe of public mining companies

Page 6: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 6

NYSE: CDE | TSX: CDM 11

Forecast New Silver Mine Production

0

50

100

150

200

2013E 2014E 2015E 2016E 2017E 2018E 2019E 2020E 2021E 2022E

Annual Silver Production (mm oz)

Mexico Peru Argentina Chile Guatemala China USAChile

Mexico

Peru

Guatemala

USA

Argentina

China

2016E New Production by Location New Production By Location

Chile

Mexico

Peru

Guatemala

USA

Argentina

China

2018E New Production by Location

New silver production is heavily focused in the Americas with Chile, Mexico and Peru responsible for most silver production growth

Source: BMO Capital Markets Equity ResearchNote: Considers select public company projects only

NYSE: CDE | TSX: CDM 12

Top Producing Primary Silver Mines

Rank Mine Country Company 2011 2012

mm oz mm oz

1 Cannington(1) Australia BHP Billiton 32.2 32.2

2 Fresnillo Mexico Fresnillo 30.3 26.4

3 Dukat(2) Russia Polymetal International 13.6 15.5

4 Uchucchacua Peru Compañia de Minas Buenaventura S.A.A. 10.1 11.3

5 Pirquitas Argentina Silver Standard Resources 7.1 8.6

6 Palmarejo Mexico Coeur Mining 9.0 8.2

7 Pallancata Peru Hochschild Mining / International Minerals 8.8 7.4

8 Saucito Mexico Fresnillo 5.9 7.1

9 Gümüsköy(3) Turkey Eti Gümüş A.Ş. 8.4 6.4

10 Greens Creek United States Hecla 6.5 6.4

11 San José Argentina Hochschild Mining / McEwen Mining 5.9 6.0

12 San Bartolomé Bolivia Coeur Mining 7.5 5.9

13 Arcata Peru Hochschild Mining 6.1 5.5

14 Imiter(3) Morocco Société Métallurgique d’Imiter 6.0 5.5

15 Alamo Dorado Mexico Pan American Silver 5.3 5.4

Source: GFMS World Silver Survey 20131. Reported payable metal in concentrate2. Including Goltsovoye3. Estimate

5 of the top 15 silver producing mines currently expected to close by 2020, significantly impacting silver supply

Page 7: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 7

13NYSE: CDE | TSX: CDM

Industry Assessment:  Overview

Key industry themes

Competition from 

ETFs

Investors seeking precious metals exposure have access to ETFs and ETF like products ETF investments eliminate operating risks associated with mining equity investments, 

providing pure metal exposure in an easily accessible format

Multiple

compression

Structural shifts, including introduction of ETFs and precious metals streaming companies, contributing to erosion of the precious metal premium 

Cash cost inflation

labour costs, in‐country currency appreciation and declining grades contributing to industrywide cost inflation, leading to margin compression despite strong commodity prices

Analysis of “total costs” or “all‐in‐costs” per oz considered to be more representative of operational performance than cash costs, which tell part of the story

Undisciplined

capital 

management

Growth for growth sake investments; investments in low IRR projects to show production growth

Development cost overruns and substantial asset write downs

Focus on return of 

capital

Investor demand for dividends in recent years has been driven by both the desire for return of capital as silver prices continued to set new records, but also to impose financial discipline on companies that have reinvested in growth at diminished returns

Share price 

performance

Mining equities face a greater risk profile and have recently underperformed relative to silver and ETF‐like investments

Recent political announcements and generally positive operating results from precious metals companies beginning to change market momentum and show early signs of positive change in investor sentiment

14NYSE: CDE | TSX: CDM

Silver Fundamentals: ETF Holdings Key Driver

▪ Investment demand via ETF holdings continues to represent a meaningful portion of silver demand▪ Expected to represent ~30% of 2013E silver demand

Source:  Bloomberg, BMO Capital Markets

Page 8: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 8

NYSE: CDE | TSX: CDM 15

Countries with Proposed Tax Changes

Brazil

In the past year, 18 countries / major jurisdictions haveannounced or proposed changes to their tax code for mining companies

Mexico

Argentina

Honduras

South Africa

Rwanda

Quebec

Namibia

Ecuador

Australia

Madagascar

Ivory Coast

Tanzania

Mongolia

Source: Public disclosure

Ghana

New Zealand

Nevada

Bolivia

NYSE: CDE | TSX: CDM 16

Increasing Cost of Silver Mining

All‐In‐Costs have grown along side silver prices, leaving all‐in margins very thin across the industry

Source: BMO Capital MarketsNote: All‐In‐Sustaining‐Cost calculated as Total Cash Costs + Corp. G&A & Other + Exploration Expense + Brownfield Capital; After‐Tax‐All‐In‐Sustaining‐Cost calculated as All‐In‐Sustaining‐Cost+ Tax and Interest;All‐In‐Cost calculated as After‐Tax‐All‐In‐Sustaining‐Cost + Greenfield Capital

‐‐

$5.00

$10.00

$15.00

$20.00

$25.00

$30.00

$35.00

$40.00

2009 2010 2011 2012

Cash Costs (US$/oz Ag)

Cash Cost All‐In‐Sustaining‐Cost After Tax AISC All‐In‐Cost Silver Price

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LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 9

NYSE: CDE | TSX: CDM 17

Silver Equities Performance Over Time

Spot silver has outperformed senior silver producers since the beginning of 2008

133.9

63.8

--

50.0

100.0

150.0

200.0

250.0

300.0

350.0

31-Dec-07 31-Dec-08 31-Dec-09 31-Dec-10 31-Dec-11 31-Dec-12

Spot Silver Senior Silver Producers

Source: FactSetNote: Total return calculated in USD and adjusted for reinvested dividends

NYSE: CDE | TSX: CDM 18

Silver Company Financing Activity

Financing volumes and values have reduced dramatically over the past 5 years; exploration companies have not had access to capital in recent years

Source: BMO Capital Markets, public disclosureNote: Shown in millions of  C$; select primary silver explorers, developers, and producers shown

Explorers 6 2 1 ‐‐ ‐‐Developers 4 14 9 5 3Producers 13 10 3 1 5

$1,202   

$569   

$89    $35   

$617   

$65   $1,149   

$180   $90   

$20   

$40   

$19   

$3   

23   

26   

13   

6   

8   

2009 2010 2011 2012 2013

Producers Developers Explorers Annual Total (# Financings)

Value driven primarily by two large financings, which account for 88% of all silver financing value year to date

Page 10: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 10

NYSE: CDE | TSX: CDM 19

Mining Company Cash Positions

More than 85% of TSX Venture Exchange and 30% of TSX listed mining companies have a cash balance of less than C$2.0 mm

Cash Balance Range(C$mm)

Number of Companies

% of Companies

<$1.0 820 78%

$1.0 to $2.0 84 8%

$2.0 to $4.0 64 6%

$4.0 to $6.0 22 2%

$6.0 to $8.0 15 1%

$8.0 to $10.0 8 1%

>$10.0 33 3%

Source: FactSetNote: Based on latest period cash position where available

Cash Balance Range(C$mm)

Number of Companies

% of Companies

<$1.0 71 24%

$1.0 to $2.0 21 7%

$2.0 to $4.0 32 11%

$4.0 to $6.0 16 5%

$6.0 to $8.0 17 6%

$8.0 to $10.0 9 3%

>$10.0 134 45%

TSX

TSX Venture

20NYSE: CDE | TSX: CDM

Recent Rise in Exploration Activity Not Yet Generating New Discoveries

0%

100%

200%

300%

400%

500%

600%

700%

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Level of Global Exploration Investment Tracks Metals Prices

Global Exploration Investment Avg Gold Price Avg Silver PriceSource: CIBC; Metals Economics Group

Page 11: The Future of Silver Mining - LBMA · The Future of Silver Mining 1st October, 2013 NYSE: CDE | TSX: CDM 2 Cautionary Statements This presentationcontains numerousforward‐lookingstatements

LBMA/LPPM Precious Metals Conference 01/10/2013

Session 6 ‐ Krebs 11

21NYSE: CDE | TSX: CDM

About Coeur Mining, Inc.

▪ America’s largest silver producer; world’s 9th largest

▪ Produced 18.0 million ounces of silver and 226,000 ounces of gold in 2012 from five operations in four countries

▪ US$895 million in 2012 net metal sales

▪ NYSE and TSX listed with US$1.6 billion market capitalization1

1. As of August 22, 2013

22NYSE: CDE | TSX: CDM

Expanding Portfolio of Precious Metals Assets

Total1, 2 Silver     Ounces  (000s)

Gold      Ounces (000s)

Proven & Probable Reserves    220,439  1,988 

Measured & Indicated Resources*

451,202 2,705

Inferred Resources* 103,981 836

*Includes La Preciosa.

Apogee Silver Bolivia & Chile

SoltoroMexico

Silver Bull Resources Mexico

Caracara SilverPeru

Endeavor Mine, Australia2012: 0.7M oz  Ag2013E:  0.6M – 0.8M oz Ag

Rochester Mine, Nevada2012: 2.8M oz Ag; 38,071 oz Au2013E:  4.1M ‐ 4.5M oz Ag; 38,000 ‐ 42,000 oz Au

Operation

Feasibility stage project

San Bartolomé  Mine, Bolivia2012: 5.9M oz Ag2013E: 5.6M ‐ 5.9M oz Ag

Palmarejo Mine, Mexico2012: 8.2M oz Ag; 106,038 oz Au2013E:  7.7M ‐ 8.3M oz Ag; 104,000 – 109,000 oz Au

Investment

Mineral reserves and resources effective December 31, 2012 except La Preciosa, updated effective June 26, 2013. See slides in the Appendix for tons and grade pertaining to mineral reserves and resources. La Preciosa was part of Coeur’s acquisition of Orko Silver Corp, which closed on April 16, 2013. 

Kensington Mine, Alaska2012: 82,125 oz Au2013E:  108,000 ‐ 114,000 oz Au

Pershing Gold Nevada, USA

International Northair MinesMexico

Commonwealth Silver and GoldArizona, USA

Huldra Silver Canada

Joaquin Silver‐Gold Project1

Argentina

La Preciosa, Mexico2

Measured &Indicated resources1:Ag : 146 million oz Au: 278,000 ozInferred resources:Ag: 38 million ozAu: 60,000 oz

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Substantial and Sustainable Annual Production Base

2.0

1.5

0.8

0.2

Palmarejo

San Bartolomé

Rochester

Endeavor

28,191

9,404

23,162Palmarejo

Rochester

Kensington

46,11572,112 

157,062

220,382 226,486

250,000‐265,000

2008 2009 2010 2011 2012 2013E

ounces

Silver Production 

2Q 2013 Silver Production by Mine (millions of ounces)

12.0

16.9 16.819.1

18.018.0‐19.5

2008 2009 2010 2011 2012 2013E

millions of ounces

2Q 2013 Gold Production by Mine 

Gold Production

1.  Guidance as published by Coeur on August 8, 2013

Appendix

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Year End 2012 Location Short tonsGrade (oz/ton) Ounces (contained)

Silver Gold Silver Gold 

Proven Reserves

Rochester Nevada, USA 56,304,000 0.54  0.004 30,501,000  230,000 

Martha Argentina ‐ ‐ ‐ ‐ ‐

San Bartolomé Bolivia 1,187,000  2.92  ‐ 3,460,000  ‐

Kensington Alaska, USA 647,000  ‐ 0.277  ‐ 179,000 

Endeavor Australia 2,258,000  4.32  ‐ 9,757,000  ‐

Palmarejo Mexico 5,747,000  4.67  0.061  26,858,000 348,000 

Total Proven Reserves 66,143,000  70,577,000 757,000 

Probable Reserves

Rochester Nevada, USA 23,619,000  0.61  0.003  14,396,000  78,000 

Mina Martha Argentina ‐ ‐ ‐ ‐ ‐

San Bartolomé Bolivia 41,699,000  2.53  ‐ 105,628,000  ‐

Kensington Alaska, USA 4,020,000  ‐ 0.208  ‐ 837,000 

Endeavor Australia 2,508,000  1.43  ‐ 3,588,000  ‐

Palmarejo Mexico 7,105,000  3.69  0.045  26,251,000  317,000 

Total Probable Reserves 78,951,000  149,863,000 1,231,000 

Proven and Probable Reserves

Rochester Nevada, USA 79,923,000  0.56  0.004 44,896,000  308,000 

Martha Argentina ‐ ‐ ‐ ‐ ‐

San Bartolomé Bolivia 42,886,000  2.54  ‐ 109,088,000 ‐

Kensington Alaska, USA 4,667,000  ‐ 0.218  ‐ 1,016,000 

Endeavor Australia 4,766,000  2.80  ‐ 13,345,000  ‐

Palmarejo Mexico 12,852,000  4.13  0.052  53,110,000  665,000 

Total Proven and Probable 145,094,000  220,439,000 1,988,000 

Coeur’s Mineral Reserves 2012

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Year end 2012 Location Short tonsGrade (oz/ton) Ounces (contained)

Silver Gold Silver Gold 

Measured Resources

Rochester Nevada, USA 135,558,000  0.47  0.004  63,921,000 498,000

Martha Argentina ‐ ‐ ‐ ‐ ‐

San Bartolomé Bolivia ‐ ‐ ‐ ‐ ‐

Kensington Alaska, USA 382,000  ‐ 0.239  ‐ 91,000

Endeavor Australia 10,639,000  1.98  ‐ 21,088,000 ‐

Palmarejo Mexico 3,186,000  7.13  0.099  22,720,000 315,000

Joaquin Argentina 5,942,000 4.58 0.003 27,191,000 19,000

La Preciosa Mexico 12,664,000 2.78 0.005 35,194,000 68,000

Total Measured Resources 168,371,000 170,114,000 991,000

Indicated Resources

Rochester Nevada, USA 128,724,000 0.44 0.003  56,795,000 367,000

Mina Martha Argentina 57,000 13.57  0.017 775,000 1,000

San Bartolomé Bolivia 20,040,000 2.27  ‐ 45,463,000 ‐

Kensington Alaska, USA 2,224,000 ‐ 0.196  ‐ 435,000

Endeavor Australia 302,000 10.23  ‐ 3,090,000 ‐

Palmarejo Mexico 20,526,000 1.12  0.032  23,021,000 649,000

Joaquin  Argentina 11,398,000 3.33 0.004 37,980,000 42,000

Lejano Argentina 1,233,000 2.42 0.008 2,983,000 10,000

La Preciosa Mexico 44,576,000 2.49 0.005 110,979,000 209,000

Total Indicated Resources 229,080,000 281,086,000 1,713,300

Measured and Indicated Resources

Rochester Nevada, USA 264,283,000 0.46 0.003 120,717,000 865,000

Martha Argentina 57,000 13.57  0.017  775,000 1,000

San Bartolomé Bolivia 20,040,000 2.27  ‐ 45,463,000 ‐

Kensington Alaska, USA 2,606,000 ‐ 0.202  ‐ 526,000

Endeavor Australia 10,941,000 2.21  ‐ 24,179,000 ‐

Palmarejo Mexico 23,712,000 1.93  0.041  45,741,000 964,000

Joaquin  Argentina 17,340,000 3.76 0.004 65,171,000 61,000

Lejano Argentina 1,233,000 2.42 0.008 2,983,000 10,000

La Preciosa Mexico 57,240,000 2.55 0.005 146,173,000 278,000

Total Measured and Indicated 397,452,000 451,202,000 2,705,000

Coeur’s Measured and Indicated Mineral Resources 2012(Excluding Reserves)

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Year end 2012 Location Short tonsGrade (oz/ton) Ounces

Silver Gold Silver Gold 

Inferred Resources

Rochester Nevada, USA 45,643,000 0.60  0.003  27,201,000 123,000

Martha Argentina 204,000 4.75  0.005  969,000 1,000

San Bartolomé Bolivia 2,826,000 1.17  ‐ 3,319,000 ‐

Kensington Alaska, USA 704,000 ‐ 0.244  ‐ 172,000

Endeavor Australia 3,527,000 1.09  ‐ 3,836,000 ‐

Palmarejo Mexico 11,903,000 1.86  0.038  22,104,000 457,000

Joaquin Argentina 1,060,000 2.94 0.003 3,113,000 4,000

Lejano Argentina 3,307,000 1.73 0.006 5,713,000 19,000

La Preciosa Mexico 19,504,000 1.93 0.003 37,726,000 60,000

Total Inferred Resources 88,678,000 103,981,000 836,000

Notes to the above mineral reserves and resources:1. Effective December 31, 2012, except for La Preciosa, which is effective June 26, 2013.2. Metal prices used for mineral reserves were $27.50 US per ounce of silver and $1,450 US per ounce of gold, except Endeavor at $2,200 per metric ton of 

lead, $2,200 per metric ton of zinc and $34 per ounce of silver. Metal prices used for mineral resources, except for La Preciosa (see note 8 below) were $33 per ounce of silver and $1,700 per ounce of gold except Endeavor at $2,200 per metric ton of lead, $2,200 per metric ton of zinc and $34 per ounce of silver.

3. Palmarejo mineral resources are the addition of Palmarejo, Guadalupe and La Patria (measured, indicated and inferred).4. Mineral resources are in addition to mineral reserves and have not demonstrated economic viability. Inferred mineral resources are considered too 

speculative geologically to have the economic considerations applied to them that would enable them to be considered for estimation of Mineral Reserves.5. Current mineralized material estimates for Rochester were determined in part from mineralized historic surface stockpiles.6. Rounding of tons and ounces, as required by reporting guidelines may result in apparent differences between tons, grade and contained metal content.7. For details on the estimation of mineral resources and reserves for each property, please refer to the applicable Technical Report on file at 

www.sedar.com. 8. La Preciosa mineral resources are effective June 26, 2013. La Preciosa mineral resources’ prices used were $27.45 per silver ounce and $1,508 per gold 

ounce. There are no mineral reserves at La Preciosa. The NI 43‐101‐compliant Technical Report, disclosing results of the PEA, is available on www.sedar.com.

Coeur’s Inferred Mineral Resources 2012

28NYSE: CDE | TSX: CDM

Mitchell J. Krebs – President and Chief Executive Officer. Mr. Krebs has been with Coeur for 17 years holding various progressive positions. Mr. Krebswas most recently the Chief Financial Officer, and prior thereto was Senior Vice President of Corporate Development. He is a graduate of The WhartonSchool of the University of Pennsylvania and holds an MBA from Harvard University.

Peter C. Mitchell – Senior Vice President and Chief Financial Officer. Mr. Mitchell most recently served as Chief Financial Officer of Taseko Mines Ltd., aposition he held since 2008. Prior to that he has served in a number of executive positions for educational institutions and in the paper and packagingindustries. Mr. Mitchell, who is a Chartered Accountant, brings extensive capital markets experience to Coeur.

Frank L. Hanagarne, Jr. – Senior Vice President and Chief Operating Officer. Prior to his most recent appointment, Mr. Hanagarne was Coeur’s ChiefFinancial Officer. He previously served as Chief Operating Officer of Valcambi, SA, a precious metal refiner in Switzerland, in which Newmont MiningCorporation has an equity interest. Mr. Hanagarne was previously Director of Corporate Development for Newmont.

Donald J. Birak – Senior Vice President, Exploration. Prior to that Mr. Birak was Vice President of Exploration for AngloGold North America, Inc. and VicePresident of Exploration for Hudson Bay Mining and Smelting Co. Ltd. In March 2001, Mr. Birak was co‐recipient of the Bill Dennis Prospector of the YearAward presented by the Prospectors and Developers Association of Canada.

Joe Phillips – Senior Vice President and Chief Development Officer. Mr. Phillips brings 40 years of experience in mine development and operations. Mostrecently, Mr. Phillips served as Senior Vice President of Operations and Development and acting Chief Operating Officer at Silver Standard Resources. Hepreviously served as Senior Vice President of Project Development at Pan American Silver.

Luke J. Russell – Senior Vice President, Environment and Community. Mr. Russell was previously Vice President of Environmental Services at Coeur. Priorto that, he was Coeur d’Alene Basin Project Manager for the State of Idaho’s Department of Environmental Quality. Mr. Russell was also previouslyDirector of Environmental and Government Affairs for Coeur from 1995 to 2000.

Humberto Rada – President, Coeur South America and of Coeur’s Bolivian subsidiary Empresa Minera Manquiri, S.A. Mr. Rada was previously GeneralManager for Newmont Mining Corporation’s Bolivian company Inti Raymi. Mr. Rada is currently President of Bolivia’s National Mining Association andhas over 23 years of experience in South American mining and finance.

Mike Harrison – Vice President, Business Development. Mr. Harrison was previously Director of Investment Banking for the mining group at CormarkSecurities, Inc. With an extensive background in investment banking, Mr. Harrison’s previous experience included working for BHP Billiton’s GlobalExploration Group for several years.

Keagan J. Kerr – Vice President, Human Resources and Communications. Mr. Kerr was formerly Regional Manager for Talent Management and Learning& Development for the Australia Pacific region of Barrick Gold Corporation. Prior to that, he served as Manager of Organizational Development at theBarrick Cortez operation in Nevada. He has many years of experience in all aspects of human resources at large‐scale global mining operations.

Casey M. Nault – Vice President, General Counsel and Secretary. Mr. Nault is an experienced corporate and securities lawyer, including prior in‐housepositions with Starbucks and Washington Mutual and law firm experience with Graham & Dunn in Seattle and Gibson, Dunn & Crutcher in Los Angeles.His experience includes securities compliance, corporate governance, mergers and acquisitions, securities offerings and other strategic transactions.

Senior Management

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Robert E. Mellor – Chairman of the Board. Former Chairman, Chief Executive Officer and President of Building Materials Holding Corporation. Mr.Mellor brings public company board experience through his service on the boards of The Ryland Group, Inc., Monro Muffler/Brake, Inc. and StockBuilding Supply Holdings, Inc. Mr. Mellor has experience in leadership, risk management, operations and strategic planning.

Mitchell J. Krebs – President and Chief Executive Officer. (See prior slide.)

Linda L. Adamany – Current member of the board of directors of AMEC plc, an engineering, project management and consultancy company since2012. She is a former member of board of directors of National Grid plc, an electricity and gas generation, transmission and distribution companyfrom 2006 to 2012. With 35 years of experience in global industries including at BP from 1980 until her retirement in 2008, Ms. Adamany brings tothe Board leadership, financial and accounting expertise.

Kevin S. Crutchfield – Chairman and Chief Executive Officer of Alpha Natural Resources, Inc. since its formation in 2003, and Vice Chairman of theNational Mining Association and the American Coalition for Clean Coal Electricity. As a 25‐year coal industry veteran, Mr. Crutchfield brings with himtechnical, operating and executive management experience.

Sebastian Edwards – Henry Ford II Professor of International Business Economics at the Anderson Graduate School of Management at the Universityof California, Los Angeles (UCLA). Chairman of the Inter American Seminar of Economics from 1987 to present; member of the Scientific AdvisoryCouncil of the Kiel Institute of World Economics in Germany from 2002 to present. Mr. Edwards brings to the Board international, government,economics and financial expertise.

Randolph E. Gress – Chairman, Chief Executive Officer and Director of Innophos Holdings, Inc, a leading producer of specialty nutrition ingredients.Prior to joining Innophos in 2004, Mr. Gress held various positions including Global President of Specialty Phosphates and Vice President and GeneralManager of the NA Sulfuric Acid and Regeneration Businesses for Rhodia SA’s North American specialty phosphate business, and served in variousroles at FMC Corporation, including corporate strategy and various manufacturing, marketing and supply chain positions.

John H. Robinson – Chairman of Hamilton Ventures LLC (consulting and investment) since founding the firm 2006. As a current or former chairman,executive director and board member of various companies, Mr. Robinson possesses leadership, talent management strategic planning andoperations experience.

J. Kenneth Thompson – President and Chief Executive Officer of Pacific Star Energy, LLC (private energy investment firm in Alaska). Through Mr.Thompson’s various executive positions, he brings to the Board leadership, risk management, operations, strategic planning and industry experience.Mr. Thompson additionally has government and regulatory experience through his work in other highly regulated industries such as the oil and gas,energy and airlines industries.

Board of Directors

30NYSE: CDE | TSX: CDM

Head Office: Coeur Mining, Inc.

Chicago, IL  60601

Main Tel: (208) 667‐3511

Stock Tickers: CDE: NYSE; CDM: TSX

Warrant Tickers: CDE.WS: NYSE; CDM.WT: TSX

Website: www.coeur.com

Bridget FreasDirector, Investor [email protected]

Contact Information

Donna MirandolaDirector, Corporate [email protected]