Hecla Announces Pricing of Offering

Hecla Announces Pricing of Offering

Hecla Mining Company today announced that it has set the price for its public offering of 31 million shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 4 million shares of common stock to cover over-allotments, if any. The shares are being offered to the public at $5 per share. The offering is expected to settle and close on September 12, 2008, subject to customary closing conditions.

The estimated net proceeds from the common stock offering are expected to be approximately $147 million ($166.1 million assuming the exercise in full of the underwriters’ over-allotment option). The estimated net proceeds from the offering will be used, together with cash on hand, cash from continuing operations, and, to the extent necessary, cash from other alternative sources, to repay Hecla’s indebtedness under its bridge facility.

Merrill Lynch & Co. and Scotia Capital are acting as the joint book-running managers of the offering. BMO Capital Markets and RBC Capital Markets are acting as co-managers for the offering. Copies of the preliminary prospectus supplement and related prospectus may be obtained from: Merrill Lynch & Co., 4 World Financial Center, Attn: Prospectus Department, New York, New York 10080, phone: 212-449-1000, or from Scotia Capital, Equity Capital Markets, One Liberty Plaza, 25th Floor, New York, New York 10006, phone: 212-225-6853.

The shelf registration statement relating to the foregoing has previously been filed with the U.S. Securities and Exchange Commission and became effective upon filing. This press release does not constitute an offer to sell or a solicitation of an offer to buy the shares of common stock or any other securities, nor will there be any sale of the shares of common stock or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of common stock will be made only by means of a prospectus and prospectus supplement.

Hecla Mining Company, headquartered in Coeur d’Alene, Idaho, mines, processes and explores for silver and gold in the United States and Mexico. A 117-year-old company, Hecla has long been well known in the mining world and financial markets as a quality producer of silver and gold. Hecla’s common shares are traded on the New York Stock Exchange under the symbol “HL.”

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