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NEWS RELEASE

Exhibit 99.1

 

HECLA ANNOUNCES TERMS FOR MANDATORY CONVERSION OF

PREFERRED STOCK

 

FOR IMMEDIATE RELEASE

December 29, 2010

 

COEUR D’ALENE, IDAHO -- Hecla Mining Company ( NYSE:HL ) today announced its conversion rate for its 6.5% Mandatory Convertible Preferred Stock (the “Preferred Stock”), which automatically converts into shares of Hecla’s common stock on January 1, 2011.

 

Under the terms of the Preferred Stock, the conversion rate will be 9.3773, which is the number of shares of common stock into which each share of Preferred Stock will convert. No fractional shares of Hecla’s common stock will be issued as a result of the conversion. Holders of fractional shares will receive cash based upon the average closing price of Hecla’s common stock ove


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