Coeur d'Alene Mines Corporation Converts $5.4 Million of 6% Debentures to Common Stock.

Business Editors

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--May 1, 2002

New York Stock Exchange grants company exception to Shareholder

Approval Policy to facilitate additional conversions

Coeur d'Alene Mines Corporation (NYSE:CDE) announced today that it has recently consummated additional individually negotiated exchange transactions with certain holders of its 6% Convertible Subordinated Debentures due June 10, 2002 ("6% Debentures").

In these transactions, the Company issued an aggregate of 1.9 million shares of the Company's common stock in exchange for $2.0 million in principal amount of 6% Debentures. Thus far in 2002, Coeur has issued 5.3 million shares of common stock in exchange for $5.4 million of the Company's 6% Debentures, reducing the principal amount outstanding of 6% Debentures to $17.7 million.

The Company also announced that it intends to offer shares of common stock in one or more additional exchange transactions with holders of the 6% Debentures. These additional issuances of common stock, together with the recently completed issuances of common stock (collectively, the "Exchange Transactions"), would normally require approval of shareholders according to the Shareholder Approval Policy of the New York Stock Exchange (the "NYSE"). The NYSE generally requires that the shareholders approve any issuance of common stock, or series of related issuances, if more than 20% of an issuer's voting power is involved. However, the NYSE provides an exception to this rule if the delay caused by seeking shareholder approval could seriously jeopardize the financial viability of the issuer and the NYSE has accepted the Company's use of the exception.

In accordance with the NYSE's rule providing that exception, the Audit Committee of the Company's Board of Directors has expressly approved the Company's reliance on the exception. Additionally, the Company is mailing to all shareholders a letter notifying them of its intention to issue the shares of common stock without seeking their approval. The Company may issue shares of common stock in exchange for any outstanding 6% Debentures that are exchanged in one or more of the Exchange Transactions ten days after such notice is mailed.

Coeur is taking these actions in order to continue to reduce the Company's short-term indebtedness. The Company's existing operations continue to generate strong results and the Company has recently commenced production at the high-grade Cerro Bayo mine in Chile. Together, Coeur expects these operational and financial initiatives to enhance shareholder value.

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

This document contains numerous forward-looking statements relating to the Company's silver and gold mining business and future transactions effecting its liquidity and capital resources. 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 the Company's ability to raise capital or effect exchanges for its outstanding 6% Debentures, enter into agreements relating to alternative uses of the Rochester Mine pit or rock by-product, 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.