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 d’Alene, Idaho, with approximately 1300 workers globally

• Listed on the NYSE since 1964

• 23rd largest precious metals company in the world

Silver (Ag)

Gold (Au)

Corporate Office

Historichigh-grade

gold districtLa Camorra

World Class Mining World Class Mining DistrictsDistricts

Lucky Friday

1.2 Billion ounces of

silver

500 years of silver

production

San Sebastian

Nevada's gold trend

Hollister Block

World class ore

bodyGreens Creek

20012001

United States

Venezuela

49%

42%

9%

Mexico

United States

Venezuela

34%

36%30%

Mexico

Revenue by CountryRevenue by Country

20032003

Income Exposure by CountryIncome Exposure by Country

$15

2001 2002 2003

U.S. Venezuela Mexico

-$5

$0

$5

$10

-$10

$ in millions

Non-Operating ExpendituresNon-Operating Expenditures

• Venezuela…………………………..$70 million– Mina Isidora– La Camorra shaft– Canaima– Exploration

• Mexico……………………………….$15 million– Exploration

• USA……………………………………$45 million– Hollister Block– Lucky Friday– Greens Creek

Over 2-3 Years

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

Current Current SituationSituation

• Largest gold producer in Venezuela• Largest private employer in the southern Bolívar State

– 500 direct employees– 750 indirect employees– 5000 beneficiaries

Hecla Venezuela

0

25

50

75

100

125

150

175

'95 '96 '97 '98 '99 '00 '01 '02 '03 '04$0$50$100$150$200$250$300$350$400

Ounces Produced (in thousands)Cost per Ounce

Hecla Venezuela

ProductioProduction & Costsn & Costs

$0

$20

$40

$60

'99 '00 '01 '02 '03 Total to'03

'04 '05 Total

Net Income & Net Income & InvestmentInvestment

In millions

Net Income Investment

Hecla Venezuela

$115

VenezuelaVenezuela

Caracas

PuertoOrdaz

Historic Gold

District

Property Property PositionPosition

N

EL DORADO

TUMEREMO

EL MIAMO

GUASIPATI

PASTORAGREENSTONE

BELT

EL CALLAO

CUYUNI RIVER

EL DORADOCONCESSIONS

BOTANAMOGREENSTONE

BELT

MINERVENCONCESSIONS

1 2 5

69

3 4

78

1012 11

Block ‘B’

Mina Isidora

Canaima

La Camorra

Caracas

PuertoOrdaz

MAP AREA

Mina Tomi (Crystallex)

Mineria MS

Revemin(Crystallex)

Mina Colombia(Minerven)

La Victoria (Crystallex)

Hecla Venezuela

Growth At DepthGrowth At Depth

-400

-600

-80010,000E

10,200E

10,400E

Probable

Inferred14

20

18 22

21

19

2004 Definition

Drilling

To be explored from u/g

or Devico

Explore observed

trend eastward

La Camorra

Mother Hole In

Progress

La Camorra La Camorra Shaft ProjectShaft Project

Plans for the Future

RIO CUYUNI

TUMEREMO 55km

EL DORADO

10km

NIÑAVI

EMILIAII

NIÑAIII

ELPLACER

NIÑA II

YESSICA

NIÑAIV

NIÑAVII

LAMEDUSA

CANAIMA

SUDOR

NIÑA I

LACAMORRA

1.0 Km

N

Canaima

Esperanza

Resortera

CVG Exploration ContractExploitation Concession

EMILIAI

Pescador

MartaRosita

Isbelia

BetzySAN

RAFAEL

Main

BELKYS

La CamorraLa CamorraLand PositionLand Position

Hecla Venezuela

Hecla Property Hecla Property PositionPosition

N

EL DORADO

TUMEREMO

EL MIAMO

GUASIPATI

PASTORAGREENSTONE

BELT

EL CALLAO

CUYUNI RIVER

EL DORADOCONCESSIONS

BOTANAMOGREENSTONE

BELT

MINERVENCONCESSIONS

1 2 5

69

3 4

78

1012 11

Block ‘B’

Mina Isidora

Canaima

La Camorra

Caracas

PuertoOrdaz

MAP AREA

Mina Tomi (Crystallex)

Mineria MS

Revemin(Crystallex)

Mina Colombia(Minerven)

La Victoria (Crystallex)

Hecla Venezuela

El Callao GoldEl Callao GoldMining DistrictMining District

1 0 0 0

M E T E R S

Block ‘A’

Block ‘B’

SosaMendez

Colombia

Caratal Mill

Revemin MillSanta Barbara

Airport

ELCALLAO

N

Laguna

SantaRita

El Peru Mill

Panama

CenicerosChile

Hecla Venezuela

Plans for the Future

MinaMinaIsidoraIsidora

Sampling PlantSampling Plant El Callao El Callao

AUTOMATIC SAMPLING UNIT PRIMARY CONE

CRUSHER

STACKING BELT

VIBRATING SCREENS

PRIMARY FEED BELT

STOCKPILE OF 3,800 - 4,000 TONNES READY FOR

SAMPLING

Plans for the Future

• 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

Who We Work With

PartnersPartners for Success for Success

• Crusher Project

• Block B

• Small Miner Areas

Small MinersSmall MinersWho We Work With

Social Geological

Legal HECLA

FinancialTechnical

Environmental

Small MinersSmall MinersWho We Work With

Small Miner Support -Small Miner Support -Mina Panama Pozo 2 VentilationMina Panama Pozo 2 Ventilation

Small Small Miner -Miner -SupportSupportIsbeliaIsbeliaHeadframHeadframee

Small Miner Support – Small Miner Support – Mina Panama Pozo 4 Mina Panama Pozo 4

HEADFRAME

Public

Services

HECLAEducation

Health Employees

Housing

Social Social InvestmentsInvestments

• Mission Barrio Adentro• Mision Robinson• Mision Piar

Social Investments – In Social Investments – In Participation with Participation with

GovernmentGovernment

CommunityCommunity Achievement Achievementss

Community Involvement Community Involvement – First Quarter 2004– First Quarter 2004

Community Involvement - Community Involvement - Water Delivery Water Delivery

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

ChallengesChallengesVenezuela

• 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

ConclusionConclusionVenezuela