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Coeur Continues Appeal in Supreme Court for the Original Kensington Tailings Plan Permitting; is Terminating Permitting Process for Alternative Tailings Plan

Posted on: Tuesday, 23 September 2008, 18:00 CDT

Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) today announced that, due to further substantial delay in the Environmental Assessment process triggered by a federal agency's recent actions, the Company has requested the Forest Service to terminate the permitting process for a potential alternative Kensington paste tailings plan. The Company continues to pursue its original tailings plan for Kensington, which is pending in the U.S. Supreme Court. A decision on the appeal is expected in the first or second quarter of 2009.

The alternative paste tailings plan had been originally submitted to federal agencies for permitting in January 2008, and permits were expected in the third or fourth quarter, 2008. However, as part of the federal agencies' comments to the ongoing Environmental Assessment work, the Environmental Protection Agency has now stated it wants Coeur to evaluate yet another new and different alternative for review and raised other issues regarding the modified plan proposal. The Agency comments triggered potentially months of delay and substantial issues in completing a timely modified plan review.

Separately, the U.S. Supreme Court has granted the State of Alaska and Coeur Alaska's Petitions for a writ of certiorari to review a Ninth Circuit Court of Appeals decision relating to the original Kensington 404 tailings permit, which had been determined by the federal agencies as the environmentally preferred option.

A final Supreme Court decision, expected early next year, may allow for construction to take place next year, leading to potential production in late 2009.

About Coeur

Coeur d'Alene Mines Corporation is one of the world's leading silver companies and also a significant gold producer, with anticipated 2008 silver production of approximately 13 million ounces of silver. Coeur, which has no silver or gold production hedged, is now producing silver at what is expected to be the world's largest pure silver mine - San Bartolome in Bolivia - and is currently constructing another world-leading silver mine - Palmarejo in Mexico. The Company also operates underground mines in southern Chile and Argentina and one surface mine in Nevada; and owns non-operating interests in two low-cost mines in Australia. The Company also owns a major gold project - Kensington in Alaska - and conducts exploration activities in Argentina, Bolivia, Chile, Mexico and Tanzania. Coeur common shares are traded on the New York Stock Exchange under the symbol CDE, the Toronto Stock Exchange under the symbol CDM, and its CHESS Depositary Interests are traded on the Australian Securities Exchange under symbol CXC.

Cautionary Statement

This press release contains forward-looking statements within the meaning of securities legislation in the United States, Canada, and Australia, including statements regarding anticipated operating results. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the control of Coeur. Operating, exploration and financial data, and other statements in this presentation are based on information that Coeur believes is reasonable, but involve significant uncertainties affecting the business of Coeur, including, but not limited to, future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction schedules, currency exchange rates, and the completion and/or updating of mining feasibility studies, changes that could result from future acquisitions of new mining properties or businesses, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, risks inherent in the ownership and operation of, or investment in, mining properties or businesses in foreign countries, as well as other uncertainties and risk factors set out in filings made from time to time with the SEC, the Canadian securities regulators, and the Australian Securities Exchange, including, without limitation, Coeur's reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.

Source: Business Wire

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