Coeur Announces Acquisition of SilverCrest to Create Leading Global Silver Company
Summary
Current resources are estimated on only approximately 55% of the over 100 known silver-gold veins located at the project • Leverages Coeur’s long track record of successfully operating the Palmarejo underground silver and gold mine in Chihuahua, Mexico • Significant revaluation opportunity given positioning of the combined company as a leading silver mining company based on its pro forma production and cash flow profile and the expected near-term impacts from the recently completed expansion of the Rochester silver and gold operation in Nevada • Immediate and significant premium of approximately 18% based on the 20-day volume-weighted average prices of both companies (22% premium to the October 3, 2024 closing price) • Substantial equity participation in Coeur’s balanced portfolio of producing mines located in North America while retaining meaningful exposure to future upside at Las Chispas • Pro forma entity uniquely positioned to unlock the full potential of Las Chispas given Coeur’s extensive underground mining experience including the past 15 years of experience operating the Palmarejo underground silver and gold mine • Combined entity’s robust financial strength and flexibility is expected to allow for continued future investments in Las Chispas • Significant re-rate opportunity for the pro forma entity, providing additional potential value for SilverCrest shareholders The proposed Transaction will be effected pursuant to a plan of arrangement under the Business Corporations Act (British Columbia), which is required to be approved by a British Columbia court. SilverCrest has an ongoing initiative to increase its asset base by expanding current resources and reserves, acquiring, discovering, and developing high value precious metals projects and ultimately operating multiple silver-gold mines in the Americas. Additional information regarding the persons who may be deemed participants and their direct and indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement, the Circular and other materials when they are filed with the SEC or on SEDAR+ in connection with the Arrangement. Coeur’s public disclosures are governed by the U.S. Securities Exchange Act of 1934, as amended, including Regulation S-K 1300 thereunder, whereas SilverCrest discloses estimates of “measured,” “indicated,” and “inferred” mineral resources as such terms are used in Canada’s National Instrument 43-101. This press release contains certain non-GAAP and non-IFRS financial measures, which management believes may enable investors to better evaluate the Coeur and SilverCrest performance, liquidity and ability to generate cash flow.