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HECLA REPORTS THIRD QUARTER AND NINE-MONTH RESULTS

 COEUR D'ALENE, Idaho, Nov. 4 /PRNewswire/ -- Hecla Mining Co. (NYSE: HL) today reported a loss of $3.2 million, or 9 cents per common share, on revenue of $20.8 million for the third quarter of 1993. This compares to a loss of $3 million, or 10 cents per share, for the same period of 1992. The loss reported for the third quarter of 1993 includes $2 million in preferred dividend payments made in connection with Hecla's new issue of Series B Cumulative Convertible Preferred Stock (NYSE: HL-B).
 For the first nine months of 1993, Hecla reported a loss of $10 million, or 30 cents per common share, on revenue of $65.3 million, compared to income of $1.8 million, or six cents a share, on revenue of $94 million in the first nine months of 1992. Revenue in the first nine months of 1993 declined 31 percent compared with the same period of 1992 mainly because of decreased precious metals production and lower base metals prices. The first nine months of 1992 also included a sale of surface and timber rights on various company-owned properties which resulted in nonrecurring income of $9 million.
 On Oct. 18, 1993, Hecla entered into an agreement to sell a minority interest in the Grouse Creek gold project while retaining operating responsibility. Great Lakes Minerals Inc. (Toronto: GKM) agreed to buy a 20-percent interest for $6.8 million with an option to buy up to a maximum 30-percent interest by contributing additional funds on a proportional basis. In addition, Great Lakes will fund its pro rata share of the total construction costs which are currently estimated at $85 million. "This sale brings us the cash and financial flexibility to develop additional gold and silver projects," said Arthur Brown, Hecla's chairman, president and chief executive officer. Good progress has been made in bringing Grouse Creek toward production in late 1994: earthworks are underway, concrete for the mill foundation has been poured and the grinding mills are being installed.
 During the third quarter of 1993, Hecla received Idaho's top environmental award for "Excellence in Annual Operations of Large Hard Rock Mines." The award is for reclamation work completed during 1992 at the company's Yellow Pine gold mine near McCall, Idaho, and was presented by Idaho Governor Cecil Andrus on Aug. 10, 1993. The mine was closed in 1992 after producing nearly 100,000 ounces of gold.
 The company's first operation outside the United States and Canada came closer to production during the third quarter. "I am pleased to report that La Choya, located in Sonora, Mexico, is scheduled to produce gold in December," Brown said. Construction at La Choya began in July, and the leach pad and ponds for the heap leaching facilities are nearly complete. The conveyor and stacking equipment (moved from Hecla's Cactus Unit in California) will be operational in mid-November, and the processing plant (moved from Hecla's Yellow Pine Unit in Idaho) is expected to be running in December.
 Hecla Mining Co. is headquartered in Coeur d'Alene. During its 102-year history, Hecla has been a leading U.S. producer of silver and lead, and more recently a significant supplier of gold and industrial minerals.
 HECLA MINING CO.
 RESULTS IN BRIEF
 (Dollars in thousands, except per-share amounts)
 Third quarter Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Total revenue $20,826 $26,539 $65,330 $94,058
 Earnings (loss) applicable
 to common shareholders (3,191) (3,025) (9,974) 1,842
 Earnings (loss) per
 common share (0.09) (0.10) (0.30) (0.06)
 Sale of products
 Gold operations 6,198 8,156 16,544 26,483
 Silver operations 2,163 7,582 11,097 21,716
 Industrial minerals 10,707 10,398 34,288 34,034
 Specialty metals 474 -- 1,567 --
 Total sales 19,542 26,136 63,496 82,233
 Gross profit (loss)
 Gold operations 2,102 2,347 4,570 5,748
 Silver operations (2,198) (1,083) (7,534) (4,029)
 Industrial minerals 1,192 1,116 4,149 4,851
 Specialty metals (140) -- (294) --
 Total gross profit 956 2,380 891 6,570
 AVERAGE METAL PRICES
 Third quarter Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Gold (dollars/ounce) $375.43 $347.07 $355.10 $345.62
 Silver (dollars/ounce) 4.67 3.84 4.20 4.00
 Lead (cents/pound) 17.4 28.7 18.3 25.4
 Zinc (cents/pound) 40.6 61.2 44.0 58.5
 SELECTED FINANCIAL INFORMATION
 (In thousands, except per-share amounts)
 Third quarter Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Income statement data:
 Sales of products $ 19,542 $ 26,136 $ 63,496 $ 82,233
 Gross profit 956 2,380 891 6,570
 General & administrative 1,643 1,783 4,958 5,646
 Exploration & research 1,088 2,682 2,862 6,799
 Depreciation & amortization 197 123 501 406
 Provision for closed
 operations &
 environmental matters 375 268 572 497
 Loss from operations (2,347) (2,476) (8,002) (6,778)
 Other income (expense):
 Interest and other income 1,284 403 1,834 11,825
 Loss on sale of investments (23) -- (144) --
 Miscellaneous income -- 34 40 89
 Interest expense:
 Total interest cost (1,025) (1,536) (3,837) (4,785)
 Less amount capitalized 855 561 2,226 1,452
 Income (loss) before income
 taxes and cumulative effect
 of change in accounting
 principles (1,256) (3,014) (7,883) 1,803
 Income tax provision (benefit) (122) 11 34 (142)
 Cumulative effect of change
 in accounting principles -- -- -- (103)
 Net income (loss) (1,134) (3,025) (7,917) 1,842
 Dividends on preferred stock 2,057 -- 2,057 --
 Earnings (loss) applicable
 to common shareholders (3,191) (3,025) (9,974) 1,842
 Earnings (loss) per
 common share (0.09) (0.10) (0.30) 0.06
 Weighted average number of
 common shares outstanding 33,902 31,590 33,114 30,991
 Common shares outstanding
 at end of period 33,966 31,651
 Cash flow data:
 Cash flow from operations -- -- 4,952 10,955
 Cash & cash equivalents
 at end of period -- -- 96,749 10,685
 Sept. 30, Dec. 31,
 1993 1992
 Selected balance sheet data:
 Total current assets $124,205 $ 32,968
 Properties, plants and
 equipment, net 192,323 179,827
 Total assets 327,288 222,443
 Working capital 108,567 20,270
 Total current liabilities 15,638 12,698
 Long-term debt 48,563 70,382
 Total shareholders' equity 239,384 113,719
 PRODUCTION DATA
 Third quarter Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Republic Unit
 Gold (oz.) 13,739 17,018 38,360 47,103
 Silver (oz.) 75,065 90,051 206,147 235,790
 Cash cost per oz.
 of gold $ 187.31 $ 163.80 $ 200.02 $ 172.28
 Full cost per oz.
 of gold $ 236.39 $ 202.47 $ 252.52 $ 213.02
 Lucky Friday Unit
 Silver (oz.) 456,106 453,917 1,647,933 1,484,739
 Gold (oz.) 252 197 730 708
 Lead (tons) 4,296 5,119 15,865 15,876
 Zinc (tons) 810 1,018 3,527 3,088
 Cash cost per oz.
 of silver $ 6.69 $ 3.36 $ 5.24 $ 4.00
 Full cost per oz.
 of silver $ 8.03 $ 4.73 $ 6.47 $ 5.25
 Greens Creek Unit
 Silver (oz.) -- 552,703 551,107 1,486,575
 Gold (oz.) -- 2,310 2,826 6,911
 Lead (tons) -- 1,354 1,298 3,488
 Zinc (tons) -- 3,414 3,453 8,546
 Cash cost per oz.
 of silver -- $ 3.53 $ 5.11 $ 4.45
 Full cost per oz.
 of silver -- $ 5.22 $ 7.16 $ 6.16
 Other (Cactus and miscellaneous)
 Gold (oz.) 1,940 5,601 5,954 25,607
 Silver (oz.) 5,714 27,234 19,826 419,664
 Total production &
 average costs
 Silver (oz.) 536,885 1,123,905 2,425,013 3,626,768
 Gold (oz.) 15,931 25,126 47,870 80,329
 Lead (tons) 4,296 6,473 17,163 19,364
 Zinc (tons) 810 4,432 6,980 11,634
 Average cash cost
 per oz. of gold $ 192.95 $ 169.35 $ 204.56 $ 187.22
 Average full cost
 per oz. of gold $ 245.09 $ 235.89 $ 258.90 $ 259.96
 Average cash cost
 per oz. of silver $ 6.69 $ 3.45 $ 5.21 $ 4.31
 Average full cost
 per oz. of silver $ 8.03 $ 5.00 $ 6.64 $ 5.67
 -0- 11/4/93
 /CONTACT: Bill Booth, manager, Investor and Public Affairs, of Hecla, 208-769-4100/
 (HL GKM.)


CO: Hecla Mining Co.; Great Lakes Minerals Inc. ST: Idaho IN: MNG SU: ERN

JH-IC -- SE004 -- 0505 11/04/93 08:32 EST
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