Hecla Provides Update on Pre-Development and Exploration Initiatives

Hecla Mining Company ('Hecla?) (NYSE:HL)
is pleased to provide an update on the progress of its pre-development
initiatives for the Star (Silver Valley ? Idaho), San Juan Silver JV
(Creede ? Colorado) and San Sebastian (Durango ? Mexico) projects, and
third quarter exploration results.

HIGHLIGHTS

• 
  At the Star most of the rehabilitation of the Star 2000 drift is
  completed and drill station construction is nearing completion to
  follow-up surface drilling of the expanding resources.
  
• 
  San Juan Silver Joint Venture (SJSJV) completed a conceptual study of
  the Bulldog based on the current resource of 37 million silver ounces,
  received agency approval to proceed with a decline, and has begun
  construction of the decline portal.
  
• 
  SJSJV also completed the Equity ramp rehabilitation and underground
  drilling will begin later this month.
  
• 
  San Sebastian′s Andrea vein drilling program continued to increase its
  strike length, grades and continuity.
  
• 
  Greens Creek exploration continues to expand the Gallagher and 200
  South mineralization trends.
  

'Progress on our pre-development initiatives has exceeded our
expectations,? said Hecla′s President and Chief Executive Officer,
Phillips S. Baker, Jr. 'In the past five months, the Star and Bulldog
mines, and Equity ramp have advanced from strictly surface work to
significant underground pre-development and drilling. And the
exploration advances on the Andrea vein combined with the Hugh Zone are
positioning us for a re-opening of the San Sebastian mine. We expect our
work on these properties to result in one or more mine re-openings
helping us reach our annual silver production goal of 15 million ounces
by 2016.?

Pre-development expenditures totaled $1.8 million in the third quarter
2011. This is the first quarter we have incurred expenditures under our
pre-development initiatives. Pre-development expenditures in the fourth
quarter are expected to be approximately $4.5 million, with $3.7 million
at the SJSJV and $0.8 million at the Star.

Exploration expenditures for the third quarter and nine-month period
ended September ?30, 2011 were $9.9 million and $19.0 million,
respectively. The majority of the exploration expenditures during the
third quarter included Greens Creek with $2.8 million, SJSJV with $2.4
million, San Sebastian with $1.9 million, and Lucky Friday/Silver Valley
with $1.9 million. Exploration expenditures in the fourth quarter are
expected to be approximately $8.0 million and total expenditures in 2011
are expected to be $ 27.0 ?million.

SILVER VALLEY - IDAHO

Star - Pre-Development & Exploration

Hecla′s Star mine re-opening study on mining the Upper Country, which
are those mineral resources above the water table at Star 2500, is
expected to be completed in the first quarter of 2012. This study will
evaluate the mineability of the Noonday resource and other Upper Country
veins, including the mining method, capital costs, operating costs and
processing options. A second study to re-open the mine below the current
water level is expected in the third quarter of 2012. The dewatering
study will evaluate shaft rehabilitation, hoist refurbishment or
replacement, electrical work, and dewatering rates.

The Star 2000 rehabilitation, which provides mine access, has been
successfully completed to allow preparation of two underground drill
stations which will be operational this quarter. An underground drilling
program will follow-up on surface drilling as discussed below and
evaluate extensions of past-producing vein systems (Star, Noonday,
Noonday Split, Moffit, Crandall and North) in proximity to historic mine
infrastructure. Pre-development expenditures of $0.8 million are
expected before year-end. The current understanding of the vein
structures suggests potential to define in excess of 25 million ounces
of silver with significant zinc and lead above the water table.

While the Star 2000 provides access for exploration and potential
production above the water table, further dewatering and refurbishment
of the historical Star production shaft could allow access to deeper
resources that were formerly classified as reserves when the mine closed
in 1982. Additional development could create a common connection to the
existing underground development at the Lucky Friday mine for
ventilation and exploration.

Star surface drilling intersected the ?Noonday, Noonday Split, You Like,
Lucretia, Star, and Morning veins. The 16 holes on the Noonday veins
have extended the resource outline more than 500 feet along strike to
the east and 1,500 feet down dip. To the east along the Noonday vein,
there is a distinct increase in silver and lead grade. Two of the better
holes intersected a 9.6-foot horizontal thickness of 13.0 ounces per ton
silver and 22.2% lead and a 5.3-foot horizontal thickness of 14.1 ounces
per ton silver and 15.3% lead. Further north the Morning vein was
intersected and contains significant silver-lead. Finally the North
vein, which is a northern extension of the Star-Morning vein, has a
strong lead-zinc intersection. Recent assay results are shown in Appendix
A. In addition to these highly mineralized veins, the You Like and
Lucretia targets hit a ?high-grade 1.4 foot wide intersection of
48.4 ?ounces per ton silver, 3.4% lead, and 0.3% zinc, and 1.0 foot wide
intersection of 13.3 ?ounces per ton silver, 15.3% lead, and 8.9% zinc.

Lucky Friday Mine - Exploration

At the Lucky Friday definition drilling focused on two areas: the
western extent of the resource up to the Silver Fault between 6050 and
6600 levels, and the center of the resource between 6400 and 6900
levels. In both areas, drilling identified, refined, and upgraded the
resource on the 30 vein and a number of intermediate veins. Exploration
drilling focused on the multiple fault blocks of the Silver Fault where
high-grade vein intersections that appear to be equivalent to the 30
Vein and some intermediate veins have been identified for over 700
vertical feet starting at the 6100 level. An impressive intersection in
the first block within the Silver Fault is 10.3 foot horizontal
thickness of 18.4 ounces per ton silver, 15.3% lead and 4.5% zinc at the
7700 level. Some of the recent assay results are shown in Appendix B.

SAN JUAN SILVER JV PROPERTY (SJSJV) - COLORADO

Bulldog Mine - Pre-development

SJSJV received agency approval to amend the existing Exploration Plan of
Operations allowing development of an anticipated 2,000 foot decline at
the Bulldog mine. Pre-development expenditures of $2.5 million are
expected before year-end to begin the portal construction and complete
the surface infrastructure. A conceptual study was completed evaluating
a 500 ton per day operation in this historic silver mining district.
Additional third quarter activities also included the construction and
completion of the water management ponds, work on surface
infrastructure, and building refurbishments.

Equity Ramp - Pre-development

SJSJV re-opened the Equity (North Amethyst) portal providing access to
numerous drill platforms that will follow-up on surface drilling
discoveries and high-grade ore shoots identified in the 1980s. Third
quarter activities included performing necessary rehabilitation work on
the Equity ramp. Planned fourth quarter activities are expected to
include completing the rehabilitation work, installing service utilities
and excavating drill stations for a cost of approximately $1.2 million.
The underground drill program is expected to start later this month to
test targets at the Equity and West Amethyst veins. Underground access
will allow for year-round exploration activities instead of seasonal
work on these structures.

Exploration

Two drills have been operating on surface during the quarter and have
focused on extending mineralization along the Bulldog, Amethyst, and
Equity veins. A drill hole targeting the northern trend of the 'A Vein,?
on the Bulldog vein system, over 1,000 feet north of the current
resource, intersected a 14.8 foot vein that graded 6.3 ounces per ton
silver, 0.5% lead, and 2.9% zinc.

A series of drill holes on a recently defined strand of the Amethyst
vein has confirmed widths of the veins ranging from 5 to 17-foot wide
with a strike length of 3,000 feet. At the Equity structure, the first
hole intersected an 11-foot mineralized breccia within strong epithermal
vein alterations. Complete assays on the Amethyst and Equity drilling
programs are pending.

SAN SEBASTIAN PROPERTY- MEXICO

Hugh Zone and Andrea Vein - Pre-development Project

The Hugh Zone is a high-grade, base metals-rich zone located 150 meters
down dip from the deepest levels mined on the past-producing Francine
vein. Work was initiated to update the 2005 Hugh Zone scoping study. In
parallel, metallurgical testwork and an evaluation of the mineability of
the Andrea vein is under way. The Andrea vein is an expanding, silver
and gold-rich resource about 6 miles south from the Francine vein. Third
quarter activities included completion of a hydrology study and
advancing the scoping study. The scoping study is expected to be
completed by the third quarter of 2012.

Andrea Vein - Exploration

The Andrea vein is a high-grade, exclusively silver and gold-rich
epithermal vein system. Third quarter exploration activities at the San
Sebastian property included three core rigs, drilling in-fill holes
along the Andrea vein to complete a resource by year-end. The Andrea
drilling program results have more than doubled the strike length to 1.7
kilometers since late 2010. Drilling to date has defined two
higher-grade gold and silver zones within this vein including the
shallower northwest zone and the deeper southeast zone. The gold
dominant northwest zone outcrops at surface, is oxidized for the first
75 meters, and can be traced for 800 meters. The veins range from 0.5 to
4.5 meters in width with grades ranging between 0.5 to 4.5 grams per
tonne gold and 20.4 to 378.4 grams per tonne silver. The deeper silver
gold-rich southeast zone is currently 700 meters in strike length at a
depth of 250 to 600 meters but is open at depth to the southwest. The
Andrea vein in this zone varies from 1.5 to 6.51 meters and has precious
metal grades that vary from 0.2 to 4.0 grams per tonne gold and 15.2 to
418.0 grams per tonne silver. The southeast zone has the strongest
mineralization with good continuity and some of the better intersections
are shown in Appendix C.

GREENS CREEK MINE - ALASKA

Third quarter underground definition and exploration drilling focused on
three areas: Gallagher, 200 South, and Northeast Contact. The drilling
designed to test the down plunge extent of the main Gallagher
mineralization to the west and south has defined a broad zone of
mineralization over approximately 150 feet of strike and 400 feet down
dip containing narrower 2.3 to 7.4 feet high-grade intervals. At the 200
South, recent definition drilling at the northern extent of the ore
trend intersected a 7 to 12-foot wide mineralized ore zone on the upper
limb and a 7 to 22-foot wide zone on the lower limb to refine and
upgrade the resource in this area. Drilling of the Northeast Contact
intersected a 2.4-foot wide interval that graded 0.08 ounces per ton
gold, 9.63 ounces per ton silver, 3.21% zinc and 1.19% lead. This is the
first ore grade intercept encountered along the Northeast Contact since
its discovery. Assay results from the third quarter of 2011 with
intersections of the Gallagher are shown in Appendix D.

A third drill will operate full time underground in the fourth quarter
with two drills turning on the Deep 200 South and 5250 South definition
and exploration drilling. The third drill will complete follow-up
drilling on the Northeast Contact ore grade intercept.

In the third quarter, the surface drilling program continued until late
September with three core drill rigs. Drilling at Cub #4, 2,000 feet
north of the mine portal, intersected 3-foot and 5-foot wide mineralized
zones on the Northeast Contact. The initial drill holes at West Bruin,
two miles northwest of the mine portal, intersected a 5 to 14-foot wide
mineralized zone with veins.

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held Tuesday, November 8, at 1:00
p.m. Eastern Time to discuss these results along with our third quarter
financial and operating results. You may join the conference call by
dialing toll-free 1-866-543-6407 or 1-617-213-8898 internationally. The
participant passcode is HECLA. Hecla′s live and archived webcast can be
accessed at www.hecla-mining.com
under Investors or via Thomson StreetEvents Network.

ABOUT HECLA

Established in 1891, Hecla Mining Company has distinguished itself as
the largest and lowest 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. With a solid asset base,
a strong cash position and no debt, Hecla is poised for growth.

Cautionary Statements

Statements made which are not historical facts, such as anticipated
payments, litigation outcome (including settlement negotiations),
production, sales of assets, exploration results and plans, 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 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.

For further information, please contact:

Hecla Mining Company

M?lanie Hennessey

Vice President ?
Investor Relations

Direct: 604-694-7729

Direct Main:
800-HECLA91 (800-432-5291)

hmc-info@hecla-mining.com

www.hecla-mining.com