Coeur Reports 2002 Results from its Properties and Continued Exploration Success at its Martha Mine in Argentina.

Business Editors

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Feb. 19, 2003

Coeur d'Alene Mines Corporation (NYSE:CDE) today announced that its operations exceeded 2002 production expectations and reduced consolidated cash costs to a record low of $2.89 per ounce of silver.

The Company also announced continued outstanding exploration results at its 100%-owned high-grade silver Martha mine located in Santa Cruz Province, Argentina.

2002 Results from Operations

2002 silver production totaled 14,832,681 ounces, a 36% increase in production over 2001. Gold production also increased significantly to 117,114 ounces, representing a 22% increase over 2001.

Coeur's Chairman and Chief Executive Officer Dennis E. Wheeler commented, "2002 represented a turnaround year for Coeur. We have re-established the company as the world's dominant primary silver producer by focusing on new low-cost gold/silver operations in South America, optimizing our existing operations here in North America, and reducing the Company's debt."

Coeur introduced two new mines in South America during 2002, which was the primary reason for the Company's considerable production growth and reduction in cash costs. Together, the high-grade Cerro Bayo and Martha mines produced 3.1 million ounces of silver and 45,200 ounces of gold. The average total cash costs during 2002 were an extremely low $0.38 per ounce of silver. Mr. Wheeler noted, "These new properties are providing Coeur with significant cash flow. Based on the excellent exploration results during 2002, we have every expectation that we will be producing high-grade silver and gold in Southern Chile and Argentina for many years."

The Rochester mine in Nevada exceeded its 2002 silver and gold production estimates while lowering its cash costs to $3.00 per ounce of silver. For the year, Rochester produced 6.4 million ounces of silver and 71,905 ounces of gold. Wheeler remarked, "Our people at Rochester have done an excellent job of identifying opportunities to operate more efficiently, which has resulted in a further reduction in the mine's cash costs. Rochester continues to be a consistent performer for Coeur."

Coeur Silver Valley in Idaho achieved record production of 5.3 million ounces of silver during 2002, representing an 18% increase over 2001. Average total cash costs declined 8% from 2001 to $4.25 per ounce. Since acquiring operating control of the Silver Valley operations in 1999, cash costs have declined nearly 17% while production has increased 64%. Coeur Silver Valley's mines have produced over 160 million ounces of silver since production began in 1955 and have a strong track record of reserve replacement. During the fourth quarter of 2002, the Company expects to adjust the carrying value of its Silver Valley operations down by $20-$24 million to give effect to a long term silver price of $5.00 per ounce and to reflect the economics associated with this lower long-term silver price assumption. The non-cash write-down pursuant to FAS 144 will be reflected in the Company's financial statements for the year ended December 31, 2002, to be issued next month. The Company is conducting an exploration and development program in 2003 to increase the mine's reserves and resources. In addition, Coeur plans to introduce additional mechanized mining methods at Silver Valley during 2003, which should positively impact cash costs.

Exploration Success at Martha Mine and Surrounding Properties in Argentina

Coeur also announced continued outstanding exploration results at its 100%-owned high-grade silver Martha mine located in Santa Cruz Province, Argentina. The underground mine is approximately 270 miles southeast of Coeur's Cerro Bayo property located in Southern Chile. Coeur acquired the Martha mine in April 2002 and began transporting high-grade ore to its Cerro Bayo mill in June 2002.

Reserves at the Martha mine property have grown to 5.3 million silver equivalent ounces, representing a 96% increase since the property was acquired from Yamana Resources, Inc. New reserves discovered on the Martha mine property during the second half of 2002 totaled 4.6 million silver equivalent ounces, averaging 150 ounces of silver equivalent per ton. They were discovered at an exceptionally low cost of $.037 per silver equivalent ounce. During 2002, Martha produced approximately 1.4 million silver equivalent ounces.

Coeur commenced exploration efforts during the second half of 2002 and focused primarily on the Martha vein located within the 100 acre Martha mine property. The Martha vein, which is exposed for over one mile, is one of six presently known veins that have had very limited exploration prior to Coeur's acquisition of the property. Coeur's efforts in 2002 consisted of mapping, sampling and the drilling of 89 holes totaling 21,320 feet.

Exploration was successful in discovering extensions of high grade ore along the strike of the Martha vein within the mine itself as well as locating an entirely new high-grade ore shoot called the R 4 Zone located approximately 300 feet southeast of the mine. The R 4 zone remains open at depth and along strike, indicating additional high-grade reserves should be discovered during 2003.

The R 4 Zone is a significant new discovery that is expected to extend the Martha mine life through the end of 2004. At the present time, the proven and probable reserves in the R 4 Zone alone totals 27,928 tons averaging 0.12 ounces per ton gold and 143 ounces per ton silver for a total of 4.2 MM silver equivalent ounces. A select drill intercept has a true thickness of 44.0 feet of 0.42 ounces per ton of gold and 666 ounces per ton of silver, which equates to a silver equivalent grade of 694 ounces per ton. An ongoing drill program is expected to expand the high grade reserve in the R 4 zone to the southeast.

Coeur has also initiated ground reconnaissance on its large land package in Santa Cruz Province surrounding the Martha mine as well as 90 miles to the north surrounding its Lejano property, which also contains a significant silver resource. Numerous new epithermal veins are being discovered that contain high grade gold and silver mineralization on the surface. These veins have never been sampled or drilled. One of these veins is up to 13 feet wide and has been continuously mapped for over 3.5 miles. The Company plans to map, sample and drill as many of these veins as possible during 2003.

Based on the Company's initial review of these landholdings, Coeur believes there is the potential to discover over fifty million silver equivalent ounces on prospects located on this land package outside the Martha mine property. As a result of this positive initial review, Coeur has purchased a 10% net profit interest from Yamana Resources for $75,000 which relates to the properties located outside the Martha mine area.

Dieter Krewedl, Coeur's Senior Vice President of Exploration, commented, "The Santa Cruz Province in Southern Argentina represents a major new gold/silver district. Because of the highly prospective nature of the region and our excellent results to date, Coeur has increased its land position by nearly 50% to 352 square miles. In addition, the Company has increased its 2003 exploration budget for Argentina five-fold and we have high expectations of finding additional high-grade reserves and resources."

Coeur d'Alene Mines Corporation is the world's largest primary silver producer, as well as a significant, low-cost producer of gold. The Company has mining interests in Nevada, Idaho, Alaska, Argentina, Chile and Bolivia.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits 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 the term "resources" in this press release which the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K. You can review and obtain copies of that filing from the SEC website at http://www.sec.gov/edgar.html.

This document contains numerous forward-looking statements relating to the Company's silver and gold mining business. The United States Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. Operating, exploration and financial data, and other statements in this document are based on information the company believes reasonable, but involve significant uncertainties as to future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, changes that could result from the Company's future acquisition of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, and risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries. Actual results and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.