With a stamp of approval from the US Forest Service, the Hecla Mining Company is able to move forward with plan for a world class copper-silver mine — the Libby Exploration Project (Libby Project) – near Libby, Montana, in Lincoln County.

The Libby Project represents an important step in unlocking the potential of high-grade copper and silver production in northwest Montana. As of December 31, 2024, the Libby Project currently has an Inferred Resource of 112.2 million tons grading 0.7% copper and 1.6 ounces per ton silver, for contained metal of over 1.5 billion pounds of copper and 183 million ounces of silver.

According to a report from the Junior Mining Network, “mineralization remains open down dip and to the north, offering potential for further resource expansion. The Rock Lake fault is thought to limit mineralization extension to the west, however, the dip of the fault was previously interpreted to be dipping east, whereas new interpretations indicate it may be dipping to the west which would offer the potential to extend mineralization in that direction as well.”

“We are pleased to see the U.S. Forest Service advance the Libby Project, and we are grateful the FAST-41 process helped move this important project forward efficiently,” said Rob Krcmarov, President and CEO of Hecla. “This approval represents years of collaboration among federal agencies, local and state officials and other stakeholders. The Libby Project exemplifies our commitment to responsibly developing critical minerals in the United States, delivering long-term economic benefits to our communities, and maintaining rigorous environmental stewardship.”

U.S. Senator Steve Daines commended the decision, stating, “The Libby Exploration Project will provide good-paying Montana mining jobs without harming our beautiful lands and will help unlock the high value of world class copper and silver. President Trump’s administration has proven yet again that they are committed to protecting Made-In-Montana energy and supporting Montana miners.”

Senator Daines has been a strong advocate for the project, having sent a letter to the U.S. Forest Service in February 2025 urging approval and speaking about its importance at a Senate Energy and Natural Resources Committee hearing. The Libby Project’s exploration phase offers Hecla the opportunity to gather essential geological, hydrological, and environmental data necessary to evaluate the full potential of the deposit. The Company intends to continue to work closely with federal and state agencies and local communities as the project advances.

Consistent with Hecla’s position as the United States and Canada’s largest silver producer, the Company is open to partnering with a strategic partner who could participate in the exploration phase and beyond, while maintaining the Company’s economic exposure to the significant silver resources associated with the project. The Company remains focused on optimizing capital allocation and maximizing shareholder value.

Founded in 1891, Hecla Mining Company is the largest silver producer in the United States and Canada. In addition to operating mines in Alaska, Idaho, and Quebec, Canada, the Company is developing a mine in the Yukon, Canada, and owns a number of exploration and pre-development projects in world-class silver and gold mining districts throughout North America.