Coeur Announces Sale of Victoria Gold Shares

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CHICAGO, June 28, 2022 /CNW/ - Coeur Mining, Inc. ("Coeur" or the "Company") (NYSE: CDE) today announced that it has entered into an agreement with Cormark Securities Inc. (the "Dealer"), to sell 5,000,000 common shares (the "Shares") of Victoria Gold Corp. ("Victoria") (TSX:VGCX) at a price of C$10.90 per share to qualified purchasers, for gross proceeds of approximately C$54.5 million.

The sale transaction is scheduled to close on or about June 30, 2022, or such other date as agreed between the Company and the Dealer.

Early Warning Disclosure

Prior to the sale transaction, Coeur held 11,067,714 Victoria shares, representing approximately 17.3% of the issued and outstanding Shares on a non-diluted basis. Upon closing the sale transaction, the Company will hold 6,067,714 shares of Victoria, representing approximately 9.5% of the issued and outstanding shares in the capital of Victoria, on a non-diluted basis, based upon the 64,010,541 issued and outstanding common shares as disclosed in Victoria's Management Discussion and Analysis dated May 11, 2022.

Coeur will file an early warning report under National Instrument 62-103 in connection with the closing of the sale transaction. A copy of the early warning report filed by the Company will be available under Victoria's profile on SEDAR at Victoria's head office is located at Suite 204 – 80 Richmond Street, Toronto, Ontario, Canada M5H 2A4.

About Coeur
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with four wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota. In addition, the Company wholly-owns the Silvertip silver-zinc-lead development project in British Columbia and has interests in several precious metals exploration projects throughout North America.

Cautionary Statement
Certain information contained in this press release, including any information relating to the proposed disposition of Victoria shares constitutes forward-looking statements or information within the meaning of securities legislation of the United States and Canada. In particular, this press release contains forward-looking statements including, without limitation, with respect to Coeur's acquisition or disposition of securities of Victoria in the future and Coeur's interest in Victoria on completion of the transaction. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Coeur as at the date of this press release in light of management's experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Coeur's actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian Securities regulators, including, without limitation, Coeur's most recent 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 or information. Coeur disclaims any intent or obligation to update publicly such forward-looking statements or information, 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 in respect of Coeur, its financial or operating results or its securities.

SOURCE Coeur Mining Inc.


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