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Coeur Receives Five Major Safety Awards for the Company's National and International Operations
COEUR D'ALENE, Idaho-(Business Wire)-May 19, 2008 - Coeur d'Alene Mines Corporation (NYSE:CDE) (TSX:CDM) (ASX:CXC) today announced that it has received five major safety awards from the International Society of Mine Safety Professionals (ISMSP) for its safe operations, as well as for safe worker activities related to its new San Bartolome silver mine in Bolivia and the development of the Kensington gold mine in Alaska.
The awards were presented last week at the ISMSP Conference in recognition of the safety milestones set during the construction of San Bartolome, ongoing worker safety at Kensington, the safe standards set by the Company's exploration group in Chile, and for overall corporate safety standards. San Bartolome is the largest primary silver mine in the world, currently in the last stages of operations startup, and included a mostly-Bolivian workforce of 2,200 during construction.
"Worker safety is a hallmark at Coeur, and a foundation upon which we build and operate all our mines and development properties around the world," said Dennis E. Wheeler, Chairman, President and Chief Executive Officer of Coeur. "Along with environmental stewardship, the message at Coeur has always been to operate at the highest levels of worker safety, and it is gratifying to gain recognition of this from a prestigious industry group such as ISMSP."
The individual awards include:
— Safety Award and Safety Recognition Award for Internal Achievement to Coeur's wholly owned subsidiary Empresa Minera Manquiri's San Bartolome Project for surpassing 3 million man hours without a lost time accident during 2007, and providing a safe, productive work environment for employees. San Bartolome has since surpassed 5 million man hours without a lost time accident.
— Safety Award for dedication to safe, quality production presented to Coeur d'Alene Mines Corporation for surpassing 2.1 million man hours without a lost time accident in the fourth quarter of 2007. This includes all Coeur employees and contractors.
— Safety Recognition Award for Internal Achievement presented to the Coeur South American Exploration Group in Santiago, Chile, for working one year and 109,866 man hours without a lost time accident in 2007.
— Safety Recognition Award for Internal Achievement presented to Coeur Alaska's Kensington Mine Jualin Construction Group for surpassing one year and 367,149 hours without a lost time accident during 2007.
The International Society of Mine Safety Professionals is an organization dedicated to promoting the development of health and safety professionals throughout the international mining community. The achievements in safety are awarded at the ISMSP annual professional conference.
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 production of approximately 16 million ounces of silver, a 40% increase over 2007 levels. Coeur, which has no silver or gold production hedged, is now producing silver at 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 two 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 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 with respect to Coeur, its financial or operating results or its securities.
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