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The Yeneena project is a large-scale copper-cobalt project that spans more than 1450 square kilometres in the Paterson Province of Western Australia. It is situated 60 kilometres southwest of the Telfer copper-gold mine. The project is considered to be in a highly prospective region for copper and gold, hosting major deposits such as Rio Tinto's Winu, Greatland's Havieron, and Antipa Minerals' Minyari Dome. Exploration at Yeneena targets sediment-hosted copper-cobalt mineralisation. Following the withdrawal of IGO Limited, Encounter Resources regained 100% ownership of the project in May 2025. The company is assessing the extensive technical data generated during the farm-in agreement to prioritise the next phase of exploration. An initial evaluation of the Yeneena Project has confirmed a substantial copper system, and Encounter Resources announced its first Copper Oxide Inferred Mineral Resource Estimate at the Tyrell Prospect in September 2025.

The project is not in production. Exploration work has yielded several notable copper intercepts, including 20m at 2.0% copper from 22m, 10m at 6.8% copper from 32m, and 18m at 3.2% copper from 32m. Aircore drilling at the BM5 prospect in 2023 intersected anomalous copper, silver, and base metal values. One hole recorded 15m @ 21.8 g/t Ag, 1729ppm Cu, 1342ppm Pb, 452ppm Zn, and 350ppm Co from 69m to the end of the hole.

IGO Limited invested approximately A$15 million in exploration at Yeneena over the life of the farm-in agreement. After regaining full ownership, Encounter Resources is focusing on advancing the high-grade BM1 copper zone and drill testing a large copper leakage anomaly at the BM5 prospect. A six-hole RC drill program was scheduled for the BM5 prospect in October 2025. In November 2025, a nine-hole reverse circulation drilling program at the Haddon Prospect revealed extensive copper and silver anomalism over a 700m x 700m area. A follow-up diamond drilling program at the Haddon Prospect is planned for April 2026 to test for primary copper sulphide mineralisation. Further drilling is also planned for 2026 to explore high-grade zones within the Parbo copper system, which spans over 8 kilometres.

Production overview - 2025: lithium 4901 t; 2024: lithium 4318 t.

The refinery is designed to process spodumene concentrate from the Greenbushes mine into battery-grade lithium hydroxide. It is described as a fully automated processing plant. Train 1 has a nameplate capacity of 24,000 tonnes per annum.

The joint venture partners, IGO and Tianqi Lithium, are in discussions regarding the future of the refinery, with IGO viewing it as a "challenged asset" and having no confidence in its ability to achieve sustained improvement. IGO has fully impaired its 49% stake in Train 1 of the refinery. In January 2025, the TLEA shareholders agreed to cease all works and activities on Lithium Hydroxide Plant 2 (LHP2). Despite operational challenges and financial losses, Tianqi Lithium has publicly stated it has no plans to suspend refinery operations.

Approximately 1,700 people as of April 2025.

The Greenbushes Lithium Operation is operated by Talison Lithium Australia Pty Ltd. IGO Limited holds a 24.99% indirect interest in the mine. The ownership structure is a joint venture, where Talison Lithium is 51% owned by Tianqi Lithium Energy Australia Pty Ltd (TLEA) and 49% by Albemarle Corporation. TLEA is a joint venture between Tianqi Lithium Corporation (51%) and IGO Limited (49%). For the 2024 calendar year, approximately 5.6 million tonnes of ore grading 2.18% Li2O were processed, producing about 1.42 million tonnes of spodumene concentrates. In 2025, production was 1.35 million tonnes of spodumene concentrates from 6.16 million tonnes of ore grading 1.9% Li2O. Total spodumene concentrate production for the 2025 financial year was approximately 1.48 million tonnes.

Production overview - 2025: lithium 1.35 Mt; 2024: lithium 1.42 Mt.

The Greenbushes operation has four processing plants: Chemical Grade Plant 1 (CGP1), Chemical Grade Plant 2 (CGP2), a Technical Grade Plant (TGP), and a Tailings Retreatment Plant (TRP). The process involves gravity separation, heavy media, flotation, and magnetic processes to produce lithium concentrates. A fifth plant, Chemical Grade Plant 3 (CGP3), commenced commissioning with its first ore feed on 18 December 2025. The first standard-compliant chemical-grade lithium concentrate from CGP3 was produced on January 30, 2026. CGP3 has a capacity of approximately 500,000 tonnes per annum of spodumene concentrate, increasing the total site capacity to around 2.1 million tonnes per annum. CGP3 is expected to reach nameplate capacity in 2026.

The mining operation uses a traditional open-pit method with drill and blast, followed by load and haul.

The mine is undergoing significant expansion. Following the commissioning of CGP3, plant debottlenecking is planned to lift combined production during 2027. Total ore processed is expected to increase to approximately 7 million tonnes per annum by 2028, with spodumene concentrate production forecast to peak at just over 2 million tonnes per annum in 2029. A new underground Mineral Resource Estimate of 132 million tonnes grading 1.5% Li₂O has been defined below and along strike from the current open-pit limits. There are also proposals to expand waste rock landforms and water storage capacity to support increased production, which involves expanding the mine to the east and south of the current site. The Western Australian Environmental Protection Authority (EPA) has approved an increase in the development envelope to 2,791 hectares.

Operations ceased on 22 May 2024 after processing nearly 295,000 tonnes of Odysseus ore.

Prior to being placed on care and maintenance, processing of existing ore on the ROM pad was completed, as was the wet commissioning of the processing plant. The processing plant's capacity was being upgraded to 1.1 Mtpa.

In June 2024, the Cosmos Project was transitioned into care and maintenance due to reduced mine life, delays in capacity, increased operating and capital costs, and nickel price deterioration. IGO intends to protect the optionality to restart the project if market conditions improve. The company is assessing exploration programs for AM5 and AM6 orebodies and exploring opportunities to unlock value from the site and its infrastructure. The processing plant's capacity was being upgraded to 1.1 Mtpa.

Historically, the operation employed nearly 300 people in 2010.

Production overview - 2024: nickel 7571 t.

The Cosmic Boy processing plant is a sulphide flotation facility. Its processing capacity was expanded to 550,000 tonnes per annum. The process includes a three-stage crushing circuit, a single closed-circuit ball mill, and a system of flotation tanks.

Sale of this operation to Medallion Metals Limited to be completed on 2 March 2026.

over 160 employees (2019)

The Nova Operation is an underground mine that produces nickel, copper, and cobalt concentrates. It is located in the Fraser Range, approximately 160km east-northeast of Norseman in Western Australia. The Ngadju People are the Traditional Owners of the land. The deposit was discovered in July 2012, and commercial production began in July 2017. The operation comprises two orebodies, Nova and Bollinger.

Production overview - 2025: nickel 16371 t, copper 7324 t, cobalt 581 t; 2024: nickel 20806 t, copper 9922 t, cobalt 735 t.

The operation has a processing plant that produces saleable concentrates containing nickel, copper, and cobalt.

IGO is planning for the mine's closure. A final Mine Closure Plan is anticipated to be submitted to the Western Australian government in mid-2026.

950 workers (May 2018)

The Casa Berardi mine is an active underground and open pit gold and silver operation in Quebec, Canada. The previous owner, Hecla Mining, was in the process of transitioning the mine to a fully open-pit operation.

Production overview - 2025: gold 91160 oz; 2024: silver 24231 oz.

The Casa Berardi mill has a processing capacity of 3,730 tonnes per day. The process includes crushing, semi-autogenous grinding (SAG) milling, a gravity circuit, and a carbon-in-leach (CIL) circuit to produce doré bars.

The underground mine utilises 40-tonne trucks.

Orezone Gold Corporation completed the acquisition of the Casa Berardi mine from Hecla Mining Company on 25 March 2026. Orezone plans to optimise the current mine plan, increase underground production, and initiate a multi-year exploration drill program of 80,000 to 100,000 metres per year. An updated mine plan and economic study are expected to be published in the fourth quarter of 2026.

The Silver Valley / Star mine is an exploration project located in Idaho, United States, and is fully owned by the Hecla Mining Company. The primary commodities of interest at this underground project are silver, lead, and zinc.

The San Juan Silver project is a high-impact development project located in the historic Creede Mining District in Colorado. It is 100% owned by Hecla Mining Company and focuses on the Bulldog Mine area, which has a history of silver production. The company's strategy involves strategic advancement towards accessing underground infrastructure for resource confirmation and expansion.

Production overview - 2025: silver 36760000 oz, lead 49270 t, zinc 40310 t.

Hecla Mining Company acquired the Rock Creek project in June 2015. The project is located approximately five miles northeast of Noxon in Sanders County, Montana. As of early 2026, Hecla is not currently engaged in permitting activities for the Rock Creek mine due to ongoing legal challenges. A 2021 U.S. District Court ruling invalidated the approval of the mine's Phase I evaluation adit, ruling that the U.S. Forest Service and the U.S. Fish & Wildlife Service had violated the Endangered Species Act. Consequently, the Rock Creek mine currently has no federal authorisation to proceed. The company's focus has shifted to obtaining permits for underground exploration at its nearby Libby Exploration Project (formerly known as the Montanore project). The U.S. Forest Service issued a final decision notice for the Libby Exploration Project in October 2025, allowing exploration and data collection to proceed. As of 31 December 2025, the inferred mineral resource at Rock Creek was reported as 99,258,000 tons, with a silver grade of 1.49 oz/ton and a copper grade of 0.66%. This resource is reported at a minimum thickness of 15 feet and a Net Smelter Return (NSR) cut-off value of $35.10 per ton, with metallurgical recoveries of 88% for silver and 92% for copper. These resources are adjusted based on mining restrictions defined by the U.S. Forest Service in the June 2003 'Record of Decision, Rock Creek Project'.

No production has occurred. The figures for 2025 represent inferred mineral resources, not production.

The Republic mine, located in Washington, United States, is currently an exploration project held by Hecla Mining Company. The property is part of Hecla's portfolio of exploration and pre-development projects in North America. Hecla's current interest in the Republic district is as an "emerging opportunity" and it is noted as Washington's largest historic gold producer.

30-35 (expected for the exploration phase)

The Libby Exploration Project, 100% owned by Hecla Mining Company, is located south of Libby, Montana. The USFS authorized the Plan of Operations in October 2025 for underground exploration, though a lawsuit was filed in March 2026. The exploration phase is expected to last 16 years, involving dewatering and extending an existing adit. As of December 2024, it had an Inferred Resource of 112.2 million tons, containing over 1.5 billion pounds of copper and 183 million ounces of silver.

The Kinskuch property is an exploration and development stage project located in the Golden Triangle of British Columbia. It is contiguous to the east and south of Dolly Varden Silver's Kitsault Valley Project and is now a part of this larger project. The property is considered prospective for silver, gold, and copper mineralisation. It includes the "Illiance trend," which is interpreted to be part of a district-scale sub-basin of the Eskay Rift period. The Illiance trend has seen limited modern exploration.

Dolly Varden Silver Corporation acquired the Kinskuch property in May 2025, which increased the Kitsault Valley Project's size to approximately 77,000 hectares. This acquisition is part of a broader consolidation strategy in the region. For 2025, a minimum of 35,000 metres of diamond drilling was planned for the consolidated Kitsault Valley Project. The exploration program for the entire project was later increased to 55,000 metres. As of October 2025, 56,131 metres of diamond drilling in 84 holes had been completed across the Kitsault Valley Project.

The Hollister mine is located in Elko County, Nevada, United States. It is an underground gold and silver mine that is currently on care and maintenance. The mine is owned and operated by Hecla Mining Company, which acquired it in July 2018. Production at the Hollister mine was suspended in the third quarter of 2019.

processed at the nearby Midas mill

Future development of the Hatter Graben or other expansions

76 employees (Nevada Operations unit, including Fire Creek) as of 31 December 2020

The Fire Creek mine, located in Lander County, Nevada, is an underground gold and silver mine currently on care and maintenance. Hecla Mining Company acquired the property in July 2018 and operated it until the second quarter of 2021, when it was placed on its current status following the processing of the remaining non-refractory ore stockpile. The mine is part of a strategic review of Hecla's Nevada portfolio that was underway in 2025.

Specific production figures for Fire Creek alone are not detailed in recent reports, as they are consolidated under Hecla's "Nevada Operations," which also includes the Hollister and Midas mines.

Historically, both non-refractory and refractory ores have been identified at Fire Creek. In 2020, Hecla Mining had an agreement with Nevada Gold Mines to process a 30,000-ton bulk sample of Fire Creek's refractory ore at one or more of their facilities to test recovery rates.

The Connaught property is situated in the Dawson Mining District in west-central Yukon, approximately 65 kilometres west of Dawson City. It is located immediately south of the Sixty Mile placer gold camp. The Connaught property consists of a 137.3 square kilometre land package. It is road-accessible and lies within the 150-kilometre-long Sixtymile-Pika fault system, which is known to host porphyry, skarn, and epithermal mineralization. The property hosts 26 identified silver-lead-zinc-gold-copper epithermal veins.

Production overview - 1966: gold 22.7 t, silver 22.7 t, lead 22.7 t.

Hecla Mining Company acquired the Connaught property as part of a larger land package from ATAC Resources, which also included the Rackla properties, for approximately US$18.8 million in Hecla common stock. The acquisition of ATAC Resources Ltd. by Hecla, which included the Connaught and Rackla properties, was completed on 7 July 2023.

The on-site mill has been used to process historical tailings, with the reprocessed tailings deposited in a fully lined tailings storage facility.

There is an existing 600-ton-per-day mill on site.

In late 2025, Hecla Mining Company received federal approval for its 2026 exploration program at the Polaris project, located in the historic Aurora mining district. The U.S. Forest Service issued a finding of no significant impact and a decision notice, allowing drilling and related exploration to proceed. The 2026 exploration program will test multiple epithermal vein systems, including near-surface targets and deeper systems. The program will consist of exploration activities on up to 150 acres, with a maximum of 250 drill sites. The project is supported by existing infrastructure and extensive private landholdings, which include 92 patented mining claims and 7 fee parcels, potentially reducing future permitting requirements. Drilling is planned for the Aurora project in 2026.

Production overview - 2025: silver 3020000 oz, lead 3630 t, zinc 2240 t; 2024: silver 2773873 oz, lead 2930 t, zinc 1507 t.

The mine has a 400 tonne per day mill. The operational target is 440 tons per day.

Hecla's exploration focus is on testing a vein intersection northeast of the Deep Bermingham ore body and on resource conversion and expansion in the Bermingham Bear Zone. Hecla's company-wide exploration and pre-development budget is expected to nearly double to $55 million in 2026, with a focus on Keno Hill among other key assets.

Hecla is the second-largest private employer in Shoshone County, Idaho.

Production overview - 2025: silver 5.3 Moz, lead 34.28 kt, zinc 14.92 kt.

The site has a mill with a capacity of 1,000 tons of ore per day, which produces silver-lead and zinc concentrates. In 2025, the mill throughput was a record 1,170 tons per day. The mining methods used are underhand and overhand cut-and-fill, with 88% of tons in 2025 mined via the company-patented Underhand Closed Bench (UCB) mining method. The company is implementing advanced water filtration systems with the goal of reducing water usage by 30%.

The mine uses mechanised jumbo drills, truck haulage, and has implemented automated mucking and remote-controlled drilling. Access to underground workings is via the Silver Shaft. A key project, the #4 Shaft, reaches 9,600 feet below the surface to access high-grade ore in the Gold Hunter/Lucky Friday Expansion Area. A surface cooling project, critical to the mine's future, was 79% complete as of year-end 2025 and is on track for completion by mid-2026.

Hecla plans to invest up to $73 million in the operation in the coming years. This capital investment is focused on underground development, a new tailings facility, and the surface cooling project. The surface cooling project is expected to increase the designed cooling capacity at the mine over its reserve life. Exploration drilling was planned for 2024 to the east of the 30 Vein.

512 (2024)

The Greens Creek mine is one of the largest and lowest-cost primary silver mines in the world and the largest silver producer in the United States. It operates 24 hours a day, 365 days a year, within the Admiralty Island National Monument. A February 2026 news release detailing exploration results reported a high-grade intercept from the East Zone of 247.3 oz/t silver, 1.94 oz/t gold, 22.7% zinc, and 12.1% lead over 7.7 feet. In 2024, copper became a payable metal for the mine, creating a new revenue stream.

Production overview - 2023: silver 9700000 oz, gold 60900 oz, zinc 51500 t, lead 19600 t; 2022: silver 9740000 oz, gold 48216 oz, zinc 52312 t, lead 19480 t.

The mine has an ore concentrating mill and processes approximately 2,388 tonnes of ore per day. Metallurgical recoveries for 2025 were 79.3% for silver, 74% for gold, 82.6% for lead, and 88.8% for zinc. The company uses AI-driven geological modelling and prospecting to identify new veins at the site. A tailings reprocessing initiative is also underway. In 2024, Greens Creek reused 46% of its tailings as backfill.

In January 2026, the U.S. Forest Service issued a Decision Notice authorising a five-year surface exploration project to search for new mineral deposits. An ongoing expansion of the mine's tailings facility is expected to increase storage capacity to 2045. A draft supplemental environmental impact statement for the tailings expansion was released for public comment in early 2026. Hecla plans to significantly increase its exploration and pre-development investment to $55 million in 2026, with a focus on Greens Creek and other core assets.

The Republic project, operated by Hecla Mining Company, is located in Ferry County, Washington, in the United States. Historically, it was an operating underground gold and silver mine known as the Republic Unit, which included the Golden Promise and Knob Hill mines. The mine ceased operations in early 1995 and is now an active exploration project for Hecla.

Production overview - 1995: gold 3098 oz, silver 15320 oz; 1993: gold 49601 oz, silver 276688 oz.

mill

mill

Hecla Mining Company continues to hold a land position of approximately five square miles in the Republic area and views it as an ongoing exploration opportunity. The company's current exploration efforts are focused on this land package.

30 to 35 people

The Libby Exploration Project, formerly known as the Montanore project, is located in the Cabinet Mountains, approximately 20 to 23 miles south of Libby in Lincoln County, Montana, United States. Hecla Mining Company holds 100% ownership of the project, which it acquired in September 2016 through the acquisition of Mines Management Inc. The project is currently in the exploration and evaluation phase, and is not an operating mine. It is focused on a stratabound sediment-hosted silver-copper deposit.

Production overview - 2024: silver 183000000 oz, copper 1500000000 lbs.

no processing plant on site

extending the adit by nearly a mile (approximately 4,200 to 6,300 feet of lateral shafts) to conduct underground mineral exploration from about 25 drill stations

56

The Hollister Mine is an underground gold and silver mine located in Elko County, Nevada. It was acquired by Hecla Mining Company in July 2018 and placed on care and maintenance in Q3 2019. There are no on-site processing facilities, with ore historically transported to Hecla's Midas mill.

no on-site processing facilities; ore transported to Hecla's Midas mill for processing

30 company employees and 12 contract employees in 2020

The Fire Creek mine is an underground gold and silver mine located in Lander County, Nevada, in the United States. Hecla Mining Company holds a 100% interest in the project. The mine is currently on care and maintenance, a status it has held since the second quarter of 2021.

Production overview - 2021: gold 20727 oz, silver 46319 oz; 2020: gold 31800 oz, silver 37400 oz.

Ore from the Fire Creek mine was processed at the Midas mill using a counter-current decantation (CCD) circuit. The Midas facility includes a conventional gravity, leach, and Merrill-Crowe precipitation processing plant.

Midas mill, conventional gravity, leach, Merrill-Crowe precipitation processing plant, counter-current decantation (CCD) circuit

Hecla suspended development to access new production areas at its Nevada Operations, including Fire Creek, pending further studies and test work.