Coeur Reports Ongoing Exploration Success At Its Cerro Bayo Gold/Silver Operation; 257,000 Gold Equivalent Ounces of New High-Grade Resources Nearly Doubles Mine Life.

Business Editors

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Jan. 30, 2003

Extremely Low Discovery Costs of $5.44 per Gold Equivalent Ounce;

Property Package Expanded Due to Positive Results

Coeur d'Alene Mines Corporation (NYSE:CDE) today announced continued exploration success at its 100%-owned Cerro Bayo gold/silver mining operation in southern Chile.

Due to these positive results, the Company has increased its holding of prospective ground by 10% to 103 square miles.

Coeur drilled 246 core holes totaling 87,250 feet primarily during the second half of 2002 with considerable success, resulting in an increase of 159,000 ounces of measured and indicated resources and 98,000 ounces of inferred resources. These new ounces were added at an exceptionally low average discovery cost of $5.44 per gold equivalent ounce. The Company plans to convert most of these resources into reserves by the end of the first quarter. Coeur expects these new resources will add two years of additional mine life to Cerro Bayo.

During its 2002 drilling campaign, Coeur discovered four new veins at Cerro Bayo: Javiera, Wendy, Celia, and Marta. Currently, the most advanced of these new discoveries is the Javiera vein, which remains open at depth and along strike and presently contains 128,000 ounces of resources. Javiera is located at the northern limits of Cerro Bayo's current underground workings and is mineralized over a 2,600 feet strike length. Javiera represents a new significant source of ore averaging over 6.5 feet in width and approximately 0.50 gold equivalent ounces per ton in grade. Select intercepts from drilling on Javiera include 11.0 feet of 0.72 gold equivalent ounces per ton, 13.0 feet of 0.97 gold equivalent ounces per ton, and 8.0 feet of 1.48 gold equivalent ounces per ton.

At the end of 2002, Coeur also discovered the Wendy vein, which is located 50 feet west of the Javiera vein. This new vein is visible from the surface for over 2,600 feet and the Company expects Wendy to be similar in size and grade to the nearby Javiera vein. The only drill hole into Wendy returned 7.5 feet of 1.0 gold equivalent ounce per ton. Drilling on the Wendy vein will be a top priority during 2003.

Dieter Krewedl, Coeur's Senior Vice President of Exploration, commented, "We are extremely pleased with these exceptional results from our exploration efforts at Cerro Bayo in 2002. The Company has increased its exploration budget for Cerro Bayo by 30% for 2003, and we expect to continue finding additional high-grade gold and silver reserves and resources this year."

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.