Company Overview

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(No Transcript)
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Company Overview

• Over 100 years of exploring, developing and
  mining precious and nonferrous metals
• Operate mines and process metals in the U.S.,
  Mexico and Venezuela
• Headquartered in Coeur dAlene, Idaho, with
  approximately 1300 workers globally
• Listed on the NYSE since 1964
• 23rd largest precious metals company in the world

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World Class Mining Districts
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Revenue by Country
2003
2001
Mexico
Mexico
9
36
42
30
United States
United States
49
34
Venezuela
Venezuela
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Income Exposure by Country
15
in millions
10
5
0
2001
2002
2003
-5
U.S.
Venezuela
Mexico
-10
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Non-Operating Expenditures
Over 2-3 Years

• Venezuela..70 million
• Mina Isidora
• La Camorra shaft
• Canaima
• Exploration
• Mexico.15 million
• Exploration
• USA45 million
• Hollister Block
• Lucky Friday
• Greens Creek

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Hecla Venezuela
Current Situation

• Acquired shares of Monarch Resources in 1999
• Operate the La Camorra Mine
• Developing mines in Block B (Minerven)

• Largest gold producer in Venezuela
• Largest private employer in the southern Bolívar
  State
• 500 direct employees
• 750 indirect employees
• 5000 beneficiaries

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Production Costs
Hecla Venezuela
9
Hecla Venezuela
Net Income Investment
In millions
115
Net Income
Investment
10
Venezuela
Caracas
PuertoOrdaz
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Property Position
Hecla Venezuela
EL MIAMO
Caracas
La Victoria (Crystallex)
Mina Tomi (Crystallex)
PuertoOrdaz
GUASIPATI
MINERVEN CONCESSIONS
Revemin (Crystallex)
EL CALLAO
Mina Isidora
TUMEREMO
Mina Colombia (Minerven)
Block B
MAP AREA
PASTORA GREENSTONE BELT
BOTANAMO GREENSTONE BELT
EL DORADO CONCESSIONS
Mineria MS
Canaima
CUYUNI RIVER
La Camorra
EL DORADO
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Growth At Depth
La Camorra
-400
To be explored from u/g or Devico
Probable
Inferred
-600
2004 Definition Drilling
Explore observed trend eastward
Mother Hole In Progress
-800
10,000E
10,200E
10,400E
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La Camorra Shaft Project
Plans for the Future
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La CamorraLand Position
Hecla Venezuela
CVG Exploration Contract
Exploitation Concession
TUMEREMO 55km
NIÑA VII
LA MEDUSA
BELKYS
RIO CUYUNI
NIÑA VI
EMILIA I
N
NIÑA IV
CANAIMA
Esperanza
1.0 Km
Pescador
Canaima
Rosita
Marta
EMILIA II
LA CAMORRA
Isbelia
EL PLACER
Main
SUDOR
Betzy
SAN RAFAEL
NIÑA I
EL DORADO 10km
NIÑA III
Resortera
YESSICA
NIÑA II
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Hecla Property Position
Hecla Venezuela
EL MIAMO
Caracas
La Victoria (Crystallex)
Mina Tomi (Crystallex)
PuertoOrdaz
GUASIPATI
MINERVEN CONCESSIONS
Revemin (Crystallex)
EL CALLAO
Mina Isidora
TUMEREMO
Mina Colombia (Minerven)
Block B
MAP AREA
PASTORA GREENSTONE BELT
BOTANAMO GREENSTONE BELT
EL DORADO CONCESSIONS
Mineria MS
Canaima
CUYUNI RIVER
La Camorra
EL DORADO
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Hecla Venezuela
El Callao Gold Mining District
EL CALLAO
N
Santa Barbara
Airport
Revemin Mill
Caratal Mill
Block B
Colombia
Sosa Mendez
Block A
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MinaIsidora
Plans for the Future
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Sampling Plant El Callao
Plans for the Future
PRIMARY FEED BELT
AUTOMATIC SAMPLING UNIT
STACKING BELT
PRIMARY CONE CRUSHER
VIBRATING SCREENS
STOCKPILE OF 3,800 - 4,000 TONNES READY FOR
SAMPLING
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Partners for Success
Who We Work With

• Ministry of Energy and Mines
• Ministry of the Environment
• Department of the Defense
• SENIAT (Internal Revenue Service)
• Corporacion Venezolana de Guayana (CVG)
• CVG Minerven
• Ministry of Foreign Affairs
• Local Communities
• Small Miners

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Small Miners
Who We Work With

• Crusher Project
• Block B
• Small Miner Areas

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Small Miners
Who We Work With
Financial
Technical
Legal
Environmental
HECLA
Social
Geological
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Small Miner Support -Mina Panama Pozo 2
Ventilation
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Small Miner -SupportIsbeliaHeadframe
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Small Miner Support Mina Panama Pozo 4
HEADFRAME
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Social Investments
Public Services
HECLA
Housing
Education
Health
Employees
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Social Investments In Participation with
Government

• Mission Barrio Adentro
• Mision Robinson
• Mision Piar

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Community Achievements
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Community Involvement First Quarter 2004
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Community Involvement - Water Delivery
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Venezuela
Challenges

• Monarch Legacy Issues
• Resource Replacement
• Small Miners
• Customs

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Venezuela
Conclusion

• Brought new technology specialized ability to
  Venezuela
• Turned unprofitable into profitable operations
• Generated a return for Hecla Venezuela
• Expect to almost double our investment in the
  next two years
• Past success partners support will allow us to
  overcome the challenges