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COEUR D'ALENE MINES INCREASES INTEREST IN SILVER MINE

 COEUR D'ALENE MINES INCREASES INTEREST IN SILVER MINE
 COEUR D'ALENE, Idaho, June 15 /PRNewswire/ -- Coeur d'Alene Mines Corp. (NYSE: CDE; PSE) announced today that it has further increased its interest in the Coeur d'Alene Mining District of north Idaho by acquiring Hecla Mining Co.'s (NYSE: HL) 12.5-percent net profits participating interest in the existing lease agreement in the Galena silver mine. The transaction increases Coeur d'Alene Mines' interest in the Galena to 62.5 percent. ASARCO Inc. (NYSE: AR), operator of the Galena, retains a 37.5-percent interest in the lease. The purchase price was $1.5 million in cash, with Hecla retaining a net profits royalty interest beginning when silver reaches $11 an ounce, up to a maximum of $2 million. Also, Hecla incurred $1.2 million in reimbursable expenses at the Galena prior to the sale, which will be paid to Hecla by Coeur d'Alene Mines out of the first net profits received by Coeur d'Alene Mines from the Galena.
 Coeur d'Alene Mines has also acquired from Hecla for $500,000 a property called Peerless Hornsilver that adjoins the Galena mine.
 The Galena, which is owned by Coeur d'Alene Mines, is located in the Silver Belt of the Coeur d'Alene Mining District. Coeur d'Alene Mines also owns the Coeur mine adjoining the Galena and which is also operated by ASARCO. Both mines are believed to have the lowest production costs per ounce in the mining district.
 Currently, the Coeur mine is not in operation, having been placed on a temporary care and maintenance basis by ASARCO in April 1991. In May, ASARCO gave notice that it would also place the Galena mine on a temporary care and maintenance basis on July 26.
 -0- 6/15/92
 /CONTACT: Arthur C. Johnson of Coeur d'Alene Mines, 208-667-3511/
 (CDE HL AR) CO: Coeur d'Alene Mines Corp.; Hecla Mining Co.; ASARCO Inc. ST: Idaho IN: MNG SU:


LM-SC -- SE011 -- 0371 06/15/92 17:29 EDT
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Publication:PR Newswire
Date:Jun 15, 1992
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