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HECLA INCREASES REVOLVING CREDIT AGREEMENT
TO $100 MILLION
FOR IMMEDIATE RELEASE
October 11, 2011
COEUR D’ALENE, IDAHO -- Hecla Mining Company (“Hecla”)( NYSE:HL ) announces that it has reached an agreement with its lenders to increase the amount available under its undrawn secured revolving credit facility to $100 million from $60 million. The amendment is effective immediately and represents a new three-year term on the facility. The financial covenants and interest rate at LIBOR plus 2.75% to 3.5% depending on the leverage ratio of the Company, remain unchanged. The lenders for the credit facility are Scotia Capital and ING Capital LLC.
“Our cash on hand combined with the increased revolving credit facility gives us greater financial flexibility for growth initiatives,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “In addition it demonstrates the continued confidence in our ability to