Continued High-Grade Discoveries at Midas and Keno Hill Extend Key Mineralized Trends and Support District-Scale Growth Targets

Company Website: https://www.hecla.com
COEUR D'ALENE, Idaho -- (Business Wire)

Hecla Mining Company (NYSE: HL) today reported positive second quarter 2026 exploration and definition drilling results from its Keno Hill, Midas, and Greens Creek properties, highlighted by a significant extension of high-grade mineralization at Keno Hill toward the historic Hector-Calumet Mine and discovery of new high-grade veins at Midas. The Company also advanced exploration programs across its portfolio, by initiating drilling at Hollister and finalizing drill pad construction at Aurora in preparation for drilling in August.

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Figure 1: Keno Hill Bermingham – Hector Calumet longitudinal section showing the recent high-grade drillhole intercepts open to the northeast and southwest for expansion

"Our exploration teams delivered another quarter of tangible progress toward our district-scale growth targets," said Kurt Allen, Vice President of Exploration. "The extension of the high-grade Bermingham trend toward Hector-Calumet and new discovery at Midas are exactly the kind of results that support our long-term reserve growth strategy across the portfolio."

SECOND QUARTER 2026 HIGHLIGHTS

• Bermingham Deep high-grade trend extended toward the historic Hector-Calumet Mine. Drilling extended this mineralization 165 feet to the northeast (hole 935C: 62.7 oz/ton silver over 10.2 feet) and 165 feet to the southwest along the Footwall Vein (hole 936C: 44.6 oz/ton silver over 10.1 feet). The trend is now traceable over 800 feet and remains open toward both the Bermingham reserve and Hector-Calumet (Figure 1).
• Encouraging step-outs at the Bermingham Deep Main 2 Vein. Hole 936B returned 21.0 oz/ton silver over 5.8 feet, and hole 940 intersected a 2.5-foot interval bearing high-grade silver minerals (assays pending), generating multiple high-priority step-out targets in Bermingham Deep.
• New high-grade vein discoveries at Midas. The first vein returned 0.50 oz/ton gold and 3.1 oz/ton silver over 1.8 feet, including a higher-grade interval of 1.56 oz/ton gold and 9.7 oz/ton silver over 0.6 feet (Figure 2). Both veins remain open along strike, with follow-up drilling planned for Q3.
• Sinter Offset Southeast program completed. The eight-hole program defined a gold-bearing structure over 2,750 feet of strike length. Drilling will now pause as assays are received and an initial resource estimate is generated.
• Metallurgical, geotechnical, and infill drilling on track at Midas. Hole DMC-00485 returned 0.30 oz/ton gold and 4.0 oz/ton silver over 6.8 feet true width. All three planned metallurgical and geotechnical holes have been completed, with analytical testing in progress.

INVESTMENT AND STRATEGY

During Q2 2026, the Company invested $11.3 million in exploration and corporate development (and $0.4 million in pre-development) activities, focused on high-impact discovery drilling at Keno Hill in Yukon and Midas in Nevada, and resource expansion programs at our producing assets. This strategy balances district-scale discovery with near-mine resource definition and reserve extension. Guidance for 2026 remains at $55 million investment in exploration and pre-development.

PRODUCING ASSET RESOURCE DEFINITION

Underground definition drilling programs at Greens Creek, Keno Hill, and Lucky Friday continue to define and expand mineralization near resource boundaries, converting Inferred resources and identifying reserve extension opportunities.

Greens Creek

Definition drilling at Greens Creek continued to delineate and step out from existing resources using three underground drilling rigs. Assay results have been received from the East, 200s, 5250, Gallagher and Upper Plate zones. Notable intercepts include 169.5 oz/ton silver, 0.55 oz/ton gold, 5.8% zinc, and 3.2% lead over 8.4 feet in the East Zone, and 20.8 oz/ton silver, 0.13 oz/ton gold, 4.8% zinc, and 2.6% lead over 39.8 feet in the Gallagher Zone. Several exceptional drilling intercepts were had in the 200s Zone, including 92.7 oz/ton silver, 0.03 oz/ton gold, 5.5% zinc, and 3.1% lead over 7.7 feet.

Keno Hill

At Keno Hill, one definition drilling rig continued to define and expand mineralization in the Arctic Zone at the Bermingham Mine. One intercept through the Footwall Vein returned 138.0 oz/ton silver, 0.6% zinc, and 1.5% lead over 3.1 feet, upgrading the resource. Another drillhole intersected 24.3 oz/ton silver, 0.1% zinc, 1.6% lead over 8.5 feet, 40 feet from current resources in the same vein.

Lucky Friday

Definition drilling has continued on the Intermediate veins and the UCB corridor (30 vein) at Lucky Friday, upgrading the resource. Drilling highlights include an intercept of 12.6 oz/ton silver, 11.4% zinc, and 11.4% lead over 10.5 feet in the 30 vein.

EXPLORATION PROGRAMS

Keno Hill: Bridging Bermingham and the Historic Hector-Calumet Mine

This quarter's most significant regional result was the extension of the Bermingham Deep trend — first discovered and reported in late 2025 — toward Hector-Calumet, one of the highest-grade past-producing silver mines in the district, having produced approximately 96 million ounces of silver and interpreted to share a common mineralizing fluid source with Bermingham.

Drilling extended the trend 165 feet to the northeast (hole 935C) and 165 feet to the southwest along the Footwall Vein (hole 936C) (Figure 1). The trend has now been traced over 800 feet of strike length and is open in both directions toward the Bermingham reserve and toward Hector-Calumet. These intercepts provide a clear exploration vector into the significant volume of untested and prospective rock between the two systems — an excellent example of our systematic exploration approach turning management's bullish view of Keno Hill's long-term exploration potential into reality. At Bermingham Deep, step-out drilling in the Bermingham Main Vein 2 supported emerging grade continuity, with holes 936B and 940 both returning mineralized intercepts and generating multiple high-priority step-out targets. Having both the Footwall and Bermingham Main 2 veins significantly mineralized indicates a robust hydrothermal system and its strong potential to host additional economic mineralization.

Detailed exploration drill assay highlights can be found in Table A at the end of this release.

Midas: New Discovery and Continued Resource Definition

The Sinter–Pogo Gap target area, situated between two previously identified high-grade zones, delivered Midas's newest vein discovery this quarter (Figure 2). Drilling intersected two new, narrow, well-developed veins with textures and mineralogy consistent with historic Midas production, reinforcing management's view that the broader SE pediment area hosts significant potential for additional, impactful, Midas-like discoveries. The second vein is similar in texture, mineralogy, and thickness to the first and is pending assay results. Both new veins remain open along strike and are prioritized for Q3 follow-up. Elsewhere on the property, the completed eight-hole Sinter Offset Southeast program returned several gold-bearing structures with positive grades over narrow widths; drilling will now pause as assays are received and next steps are evaluated. Infill and metallurgical drilling also advanced, with hole DMC-00485 returning 0.30 oz/ton gold and 4.0 oz/ton silver over 6.8 feet true width, including three narrower intervals above 0.6 oz/ton gold. Assays are pending for two of the three completed metallurgical and geotechnical holes. Together, these programs have kept the project on track toward a potential mine restart decision.

Detailed exploration drill assay highlights can be found in Table A at the end of this release.

Greens Creek, Hollister, and Aurora: Program Updates

At Greens Creek, exploration drilling at Zinc Creek, Gallagher, and 5250 Offset continued to refine the district geological model, with the intense alteration observed in Zinc Creek drilling flagged as a priority for Q3 follow-up. Hollister drilling commenced on schedule in July and will test four high-priority target areas. At Aurora, site preparation is underway ahead of drilling which is expected to begin in August. The Company's exploration programs continue to ramp up companywide, reflecting an expanding cadence of exploration activity heading into the second half of 2026.

With multiple veins and trends still open along strike and at depth, and programs at Hollister and Aurora beginning, the Company expects continued exploration momentum through the second half of 2026. Planned Q3 activity includes follow-up drilling on the Midas Sinter–Pogo Gap veins, further testing of the Bermingham–Hector-Calumet trend, additional Bermingham Deep step-outs, and ramp-up of the newly initiated Hollister and Aurora programs. Overall, the planned programs remain well positioned to achieve our stated goals of reaching a restart decision in Nevada and expanding resources and reserves at the mine sites.

ABOUT HECLA

Founded in 1891, Hecla Mining Company (NYSE: HL) is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska and Idaho, the Company is ramping up a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.

Cautionary Statement Regarding Forward Looking Statements, Including 2026 Outlook

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws, including Canadian securities laws. Words such as “may”, “will”, “should”, “expects”, “intends”, “projects”, “believes”, “estimates”, “targets”, “anticipates” and similar expressions are used to identify these forward-looking statements. Such forward-looking statements may include, without limitation: (i) planned exploration drilling at Aurora in August; (ii) the Company’s long-term reserve growth strategy; (iii) planned follow-up drilling on new veins at Midas; (iv) the Sinter-Pogo Gap target area has potential for additional, impactful, Midas-like discoveries, and there is plans for an initial resource estimate to be generated for Sinter Offset; (v) the robust hydrothermal system at Bermingham mine having strong potential to host additional economic mineralization; and (vi) the potential to restart operations at Midas;

The material factors or assumptions used to develop such forward-looking statements or forward-looking information include that the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated, to which the Company’s operations are subject. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect, which could cause actual results to differ from forward-looking statements. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii) political/regulatory developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) the exchange rate for the USD/CAD being approximately consistent with current levels; (v) certain price assumptions for gold, silver, lead and zinc; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of our current mineral reserve and mineral resource estimates; (viii) there being no significant changes to the availability of employees, vendors and equipment; (ix) the Company’s plans for development and production will proceed as expected and will not require revision as a result of risks or uncertainties, whether known, unknown or unanticipated; (x) counterparties performing their obligations under hedging instruments and put option contracts; (xi) sufficient workforce is available and trained to perform assigned tasks; (xii) weather patterns and rain/snowfall within normal seasonal ranges so as not to impact operations; (xiii) relations with interested parties, including First Nations and Native Americans, remain productive; (xiv) maintaining availability of water rights; (xv) factors do not arise that reduce available cash balances; and (xvi) there being no material increases in our current requirements to post or maintain reclamation and performance bonds or collateral related thereto. In addition, material risks that could cause actual results to differ from forward-looking statements include but are not limited to: (i) gold, silver and other metals price volatility; (ii) operating risks; (iii) currency fluctuations; (iv) increased production costs and variances in ore grade or recovery rates from those assumed in mining plans; (v) community relations; and (vi) litigation, political, regulatory, labor and environmental risks. For a more detailed discussion of such risks and other factors, see the Company's 2025 Form 10-K filed on February 17, 2026, and Form 10-Q filed on May 5, 2026, for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.

Cautionary Statements to Investors on Reserves and Resources

This news release uses the terms “reserves”, “mineral resources”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources.” Mineral resources that are not mineral reserves do not have demonstrated economic viability. You should not assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. Further, inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically, and an inferred mineral resource may not be considered when assessing the economic viability of a mining project, and may not be converted to a mineral reserve. The Company reports reserves and resources under the SEC’s mining disclosure rules (“S-K 1300”) and Canada’s National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) because the Company is a “reporting issuer” under Canadian securities laws. Unless otherwise indicated, all resource and reserve estimates contained in this press release have been prepared in accordance with S-K 1300 as well as NI 43-101.

Qualified Person (QP)

Kurt D. Allen, MSc., CPG, VP-Exploration of Hecla Mining Company and Paul W. Jensen, MSc., CPG, Chief Geologist of Hecla Limited, serve as a Qualified Persons under S-K 1300 and NI 43-101 for Hecla’s mineral projects. Mr. Allen supervised the preparation of the scientific and technical information concerning exploration activities while Mr. Jensen supervised the preparation of mineral resources for this news release. Technical Report Summaries for the Company’s Greens Creek, Lucky Friday and Keno Hill properties are filed as exhibits 96.1 - 96.4, respectively, to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and are available at www.sec.gov. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of analytical or testing procedures for (i) the Greens Creek Mine are contained in its Technical Report Summary and in its NI 43-101 technical report titled “Technical Report for the Greens Creek Mine” effective date December 31, 2018, (ii) the Lucky Friday Mine are contained in its Technical Report Summary and in its NI 43-101 technical report titled “Technical Report for the Lucky Friday Mine Shoshone County, Idaho, USA” effective date April 2, 2014, and (iii) Keno Hill is contained in its Technical Report Summary titled “S-K 1300 Technical Report Summary on the Keno Hill Mine, Yukon, Canada” and in its NI 43-101 technical report titled “Technical Report on the Keno Hill Mine, Yukon, Canada” effective date December 31, 2023. Also included in each Technical Report Summary and technical report listed above is a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant factors. Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of sample, analytical or testing procedures are contained in NI 43-101 technical reports prepared for Klondex Mines Ltd. for (i) the Fire Creek Mine (technical report dated March 31, 2018), (ii) the Hollister Mine (technical report dated May 31, 2017, amended August 9, 2017), and (iii) the Midas Mine (technical report dated August 31, 2014, amended April 2, 2015). Information regarding data verification, surveys and investigations, quality assurance program and quality control measures and a summary of sample, analytical or testing procedures are contained in a NI 43-101 technical reports prepared for ATAC Resources Ltd. for (i) the Osiris Project (technical report dated July 28, 2022) and (ii) the Tiger Project (technical report dated February 27, 2020). Copies of these technical reports are available under the SEDAR profiles of Klondex Mines Unlimited Liability Company and ATAC Resources Ltd., respectively, at www.sedar.com (the Fire Creek technical report is also available under Hecla’s profile on SEDAR). Mr. Jensen reviewed and verified information regarding drill sampling, data verification of all digitally collected data, drill surveys and specific gravity determinations relating to all the mines. The review encompassed quality assurance programs and quality control measures including analytical or testing practice, chain-of-custody procedures, sample storage procedures and included independent sample collection and analysis. This review found the information and procedures meet industry standards and are adequate for Mineral Resource and Mineral Reserve estimation and mine planning purposes.

Table A
Assay Results – Q2/2026

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Contacts:

For further information, please contact:

Mike Parkin
Vice President – Strategy and Investor Relations

Cheryl Turner
Investor Relations Coordinator

Investor Relations
Email: hmc-info@hecla.com
Website: http://www.hecla.com

Source: Hecla Mining Company