Exploration

Coeur, either directly or through its wholly-owned subsidiaries, has interests in certain mining properties located in Argentina, Chile, Mexico, United States, Chile, Argentina, Tanzania, Bolivia, and Mexico. Exploration and reserve development expenditures of approximately $18.9 million, $23.6 million and $11.9 million were incurred by the Company in 2009, 2008 and 2007 respectively on these properties.

The Company’s exploration strategy is largely focused on drilling activities on its large land positions surrounding existing operations.  This strategy has generated very cost-effective, near-term additions to the Company’s substantial mineral reserve and resource base.

Coeur plans to spend $17.9 million in exploration during 2010 with approximately 80% of the budget earmarked for expansion of mineral resources and reserves at or near its existing operations at Palmarejo (Mexico), Kensington (Alaska), Rochester (Nevada), Martha (Argentina) and Cerro Bayo (Chile).