Hecla Terminates Offer for U.S. Silver Corporation
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warrants previously tendered and not withdrawn under the Hecla Offer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.
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
