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Hecla Terminates Offer for U.S. Silver Corporation

COEUR D’ALENE, Idaho--(BUSINESS WIRE)--Aug. 7, 2012-- Hecla Mining Company (NYSE:HL) (“Hecla”) announced today that, following an announcement earlier today by U.S. Silver Corporation (“U.S. Silver”) that a sufficient number of its common shareholders have voted to approve a transaction with RX Gold & Silver, Hecla has terminated its offers to acquire all of the outstanding common shares and common share purchase warrants of U.S. Silver (the “Hecla Offer”).

As previously disclosed, the Hecla Offer was conditional upon the proposed RX transaction not proceeding or such transaction otherwise terminating. All U.S. Silver common shares and common share purchase warrants previously tendered and not withdrawn under the Hecla Offer will be returned promptly in accordance with the terms of the tender offer.

About Hecla Mining Company

Established in 1891, Hecla Mining Company is a leading low cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome, production, sales of assets, exploration results and plans, prospects and opportunities including reserves, resources, and mineralization, costs, and prices or sales performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, environmental and litigation risks, operating risks, project development risks, political and regulatory risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.

Cautionary Statements to Investors on Reserves and Resources

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 certain terms on this release, such as “resource,” “other resources,” and “mineralized materials” that 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 and Form 10-Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov.

Source: Hecla Mining Company

Hecla Mining Company
Sr. Vice President - CFO
Jim Sabala, 208-209-1255
Direct Main: 1-800-HECLA91 (1-800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com