Wendy Yang - Vice President of Investor Relations Mitchell Krebs - President and Chief Executive Officer Frank Hanagarne – Senior Vice President, Chief Operating Officer and Chief Financial Officer Joe Phillips - Senior Vice President and Chief Development Officer Donald Birak - Senior Vice President of Exploration

Jeff Wright - Global Hunter Securities Jorge Beristain - Deutsche Bank Andrew Kaip- BMO Capital Market Anant Inani - JPMorgan Brett Levy - Jefferies & Company

Good afternoon. My name is Sandra, and I will be your conference operator today. At this time, I would like to welcome everyone to the First Quarter 2013 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. (Operator Instructions). I would now like to turn the call over to your host, Ms. Wendy Yang, Vice President of Investor Relations. Ma’am you begin.

Thank you, Sandra. Welcome to our first quarter conference call. I’m Wendy Yang, Vice President of Investor Relations. This call is also being webcast on our website at www.coeur.com. Where we have posted slides to you accompany our remarks. Telephonic replay of the call will be available on our website through May 23rd. We will be discussing some forward-looking information today and we caution our audience that such statements involve risks and uncertainties that could cause actual results to differ materially from projections. Please review our cautionary statement shown on slide two and review the risk factors, including some that are specific to our industry described in our latest annual and quarterly financial reports filed with the U.S. SEC and Canadian regulators. On the call today we have Mitch Krebs President and CEO; Frank Hanagarne; Senior Vice President, Chief Operating Officer and Chief Financial Officer; Don Birak, Senior Vice President of Exploration; and Joe Philip, our Senior Vice President and Chief Development Officer. We will get started. Mitch, please go ahead.

Thanks, Wendy. Good morning everyone, good afternoon to those on the east coast. During the first four months of the year, we have continued to pursue several key strategic objectives that are shown on slide four. None of these objectives will be achieved overnight but we are making steady progress and none of these objectives will be achieved without the right people and the right level of technical expertise in place. We are committed to succeeding in this new world of capital discipline, execution, cost reduction, returns and better management of the risks inherent in our industry. Success requires building a team of technical and financial talent that can become a true competitive advantage for our company and that’s exactly what we have been doing and I am really excited about the people that have recently joined Coeur. We have added a new season Chief Financial Officer in Peter Mitchell who will help us maintain a flexible balance sheet, mitigate risks and appropriately deploy free cash flow to achieve optimal returns and lead our efforts to better manage cost and information. We have also added a new Chief Development Officer in Joel Philips to lead the company’s capital project initiatives. Joe and his group are keenly focused on the importance of delivering projects on-time and on-budget whether their projects in support of existing operations or more significant projects such as La Preciosa or Rochester’s expansion. In order to better identify and manage risks, we have hired a new head of health and safety in Bill Holder who is providing leadership, support and the tools necessary to achieve our goal of making sure everyone goes home safely to their families every night. We have new general managers in place at Palmarejo, San Bartolomé and Rochester who are driven to make their…

Thanks Mitch. We will turn to slide 12; this slide lists the first quarter 2013 operational highlights and priorities for all of our four operating mines. First quarter of 2013 production at our Kensington gold mine in Alaska was down 12% in fourth quarter 2012, all cost remained constant. Kensington contributed 20% of our operating cash flow. We expect production for this mine to increase and cash operating cost to decline in the second half of the year, as we expected ore grades. Our Rochester silver gold mine in Nevada had a good quarter, the silver and gold production up 47% and 65% respectively for the first quarter of last year. Rochester started the year slowly due to processing challenges from severe winter weather in January and February. The mine contributed 23% of total operating cash flow for the quarter. The capital expansion underway at Rochester increased 2013 production, 35% to 50% year-over-year. Underground and open pit mining rates at our Palmarejo mine in Mexico improved and stabilized in the first quarter, compared with the last few months of 2012. Palmarejo contributed 37% of Coeur’s total operating cash flow. Development of Guadalupe continues and we're optimizing the mine plan to incorporate a new open pit production plan to augment underground production. San Bartolomé demonstrated strong mill throughput and silver recovery rates, contributing 18% of Coeur's consolidated operating cash flow for the quarter. The planned mill expansion at San Bartolomé is expected to drive annual production levels up over 6 million ounces of silver in 2014 and for the next several years. Turning to slide 13, the bar charts at the bottom of slide 13 shows a steady increase in silver and gold production in our operations over the past 5 years. 2012 production totaled 18 million silver ounces and a…

Thanks Mitch. We will turn to slide 12; this slide lists the first quarter 2013 operational highlights and priorities for all of our four operating mines. First quarter of 2013 production at our Kensington gold mine in Alaska was down 12% in fourth quarter 2012, all cost remained constant. Kensington contributed 20% of our operating cash flow. We expect production for this mine to increase and cash operating cost to decline in the second half of the year, as we expected ore grades. Our Rochester silver gold mine in Nevada had a good quarter, the silver and gold production up 47% and 65% respectively for the first quarter of last year. Rochester started the year slowly due to processing challenges from severe winter weather in January and February. The mine contributed 23% of total operating cash flow for the quarter. The capital expansion underway at Rochester increased 2013 production, 35% to 50% year-over-year. Underground and open pit mining rates at our Palmarejo mine in Mexico improved and stabilized in the first quarter, compared with the last few months of 2012. Palmarejo contributed 37% of Coeur’s total operating cash flow. Development of Guadalupe continues and we're optimizing the mine plan to incorporate a new open pit production plan to augment underground production. San Bartolomé demonstrated strong mill throughput and silver recovery rates, contributing 18% of Coeur's consolidated operating cash flow for the quarter. The planned mill expansion at San Bartolomé is expected to drive annual production levels up over 6 million ounces of silver in 2014 and for the next several years. Turning to slide 13, the bar charts at the bottom of slide 13 shows a steady increase in silver and gold production in our operations over the past 5 years. 2012 production totaled 18 million silver ounces and a…

Thank you, Frank. I would like start by saying its pleasure to be part of Coeur's team and to work on developing exciting projects like La Preciosa. I would like to start with slide 19. On April 16th Coeur acquired Orko Silver. The key asset of this acquisition is the La Preciosa project in Mexico with 32,400 hectare of contiguous mining plants almost three times the size of the Palmarejo district. This acquisition provides four key benefits to our shareholders. First is diversified Coeur’s portfolio across the larger platform of assets. Second, it reduces our overall political risk profile. Third, it provides accretive significant growth in production and cash flow over a long mine life. Finally, it’s expected to generate rate of return in excess of our cost and capital. La Preciosa is one of the largest undeveloped silver deposits in the world with the potential to grow even larger through further drilling. The silver resource estimate is 99 million ounces of indicated and 140 million ounces of inferred. The property is well located with significant infrastructure in place including highway access to the property and close proximity to power and railroad lines. Our efforts at La Preciosa is focused on three principle areas. First is to complete a preliminary economic assessment which will provide a scoping level at the mine plants and projects economics M3 engineers will prepare the PEA by the end of the second quarter of 2013. Following completion of the assessment, we expect to start basic engineering and full feasibility work in the second half of 2013 along with exploration in filed and development drilling. As mentioned in previous announcements, our studies indicate that a large surface mine will provide the most robust project at current metal prices. And we’ll enable the recovery of a larger…

Thanks, Joe. Good morning everyone. At the peak of the quarter, we had 10 drills and crews working continuing at the pace we have set in 2012. Majority of our investment remains focused on our large operating and advanced stage properties with Palmarejo leading the way. You will see some favorable results the 108, Las Animas and Tucson‐Chapotillo zones at Palmarejo and from Rochester Kensington and San Bartolomé. I will describe some of these in more detail next. Four core drills rags given the Palmarejo district, two underground and two on surface. Two underground drills are working at the 108 and 76 zones. On surface we drilled at Tucson‐Chapotillo and Las Animas. Favorable results were obtained from all of these areas but particularly from 108 and Las Animas. As the compilations are included in the appendix section of this presentation for your reference. Our objective in 108 is to upgrade and expand mineral resources which will lead to new reserves. 526 shows a section BO108 working northeast and a three dimensional view in the upper left corner for prospective. We are pleased with the results we received thus far and a new phase of drilling is being planned. Shifting to Guadalupe, surface drilling there in the first quarter was devoted to the Las Animas Zone. In 2012, we reexamined the zone and saw good potential for it to be mined with surface method. As a result, first quarter drilling and surface trenching were used to define and upgrade new mineral resources up dip and on straight. We are now making plans for follow up drilling all of which we expect to increase the size of Las Animas this year. We have recently acquired La Curra, a property which adjoins Las Animas on the southeast. The addition of this property to…

Thanks Don. Before I close, I want to take a minute to recognize three Coeur directors who will not stand for re-election at this year’s shareholder meeting. My thanks go to Jim Curran, Jim Winter and Michael Bogert for their significant contributions and service over the years. I am grateful to each of them for their dedication and support. Joining the Coeur board in 2013, our Linda Adamany, and pending their election of the annual meeting on May 14, Kevin Crutchfield and Randy Gress, each have distinguished backgrounds and bring significant expertise to the company’s board. I would also like to thank our Chairman Rob Miller and all remaining directors for their continued advice, guidance as we worked towards the common goal of building a great company. On slide 32, as I have said before, our team is driven by the strategic priorities shown on this slide which are straight forward and achievable and provide the foundation for every decision we make. By accomplishing these objectives we are confident, we will create value over the long term for our shareholders. This is a great time to be a cash flow generating precious metals Company with no external capital needs. There are many opportunities right now and we feel the landscape will only become more attractive. I have never seen anything like it in my seventeen years in the business. Many companies’ evaluations, ones with quality assets, just don’t make a lot of sense at current levels. Although we will be opportunistic and disciplined as we look at ways to create value, we’re first and foremost focused on achieving operational consistency and efficiency. We appreciate the fact that it’s the free cash flow from our existing mines that makes everything else possible and makes this unique within our challenged industry. Thanks again for joining us on the call today. Operator, we are not ready for questions.

(Operator Instructions) And your first question comes from the line of Jeff Wright of Global Hunter.

I am looking at Rochester first. It looks like there was a follow up on the silver recoveries. Can you guys discuss, is that due to dilution or what is being done to address to get the recoveries back to more than normal range from the previous quarters?

There has been really no change in the behavior of the ore in the metallurgical sense, still target long term recovery rates of silver of 60% and the range of 90% on gold. We do have inner period fluctuations of recovery depending on how much ore has been placed on the path and all that was leach lines and so on. So well I think you would be seeing a slight pattern that would reflect some of those fluctuations that can take place but we are still looking at 60% over the long term on silver.

Then if I am, kind of moving over to Palmarejo if I am looking at the grade obviously in the press release you guys mentioned that the grade did come up in March and into April what do you think we should be looking at for silver grades at Palmarejo for the balance of the year? What number would you guys will be comfortable with?

If you look Joe just at March results in the open pit we averaged about 4.5 ounces per ton silver and about 0.3 ounce per ton gold those are open pit grades and the underground grades of little over 4.5 silver and 0.12 on gold we will see most likely increase in the underground grades but those open pit grades will be about like what I just stated from March.

And given the fall of in silver and gold prices over the past 30 days have you guys contemplated or are you in the process of contemplating pushing any developments or other capital expenses or cancelling any development or capital expenses for the balance of the year?

Well we are talking a look at all of our capital expenditures for the remainder of the year to make sure they make sense under a lower priced environment and prioritizing those that are critical to the sustainability of our operations or compliance driven. Anything after that that has to exceed our hurdle rates based on a lower price assumption and so that exercise is underway. I think Joe that is scheduled to be completed at the end of June just. so we will have more tom say about that I guess on our second quarter call but we are taking a look at that from a development standpoint there is really nothing that we are looking at changing there and from a mine planning standpoint it is pretty much steady as she goes what we need to do there is just focus on what we would be focusing on at any price and that is to be more efficient and identifying opportunities to reduce costs and improve consistency. And that like I said that takes place and has been taking place despite the volatility we saw in silver and gold in April.

Your next question comes from the line of Jorge Beristain of Deutsche Bank.

My question had to do a little bit with capital discipline sort of in light of the new perceived reality of gold and silver prices, in terms of La Preciosa and I don't want to put the cart before the horse here, but could you talk a little bit about if you did get to a construction decision there, you have any kind of optionality in terms of doing a phased or a staged project and would you contemplate perhaps bringing in a joint venture partner at some point down the road, again given the concern we've see with companies historically of perhaps biting off more than they can chew, I just wonder if you could talk about how you would do the development potential of that project without endangering your company's equity value.

I'll say a couple of things then I'll turn it over to Joe on that. We will only do things with our capital that exceed our cost of capital and I don't think that has been a rule followed all that frequently, historically by the industry and we hope to be and plan to be to the point of having a construction decision to be made on the Preciosa next summer, so in the meantime we'll be doing the feasibility study, first the PEA then the feasibility design engineering, (inaudible) drilling and so the price that we’ve seen fall off here in the last few weeks is certainly a consideration but then it also has to be factored against where we think silver prices will be in a year from now and that construction decision needs to be made and then what that outlook we think looks like over the following 20 years which is always a challenge. This is a large deposit but from a size standpoint relative to our company it’s not a huge bite, it's not a multibillion dollar project, it’s not something that we see ourselves you know putting the company at great risk over. We’re comfortable with the size of this project so I, we don't really have any interest in bringing in a joint venture partner. This is sort of right down the middle of our fairway for a company our size; at least we feel that way. I'll let Joey answer from his perspective on the rest of your question, Jorge.

Hello Jorge. Thanks for the question. One of the things that I think the benefits that we'll be taking advantage of with Coeur being a cash flowing company at a time like this is my view from being a mine builder this is the best time in history for someone to build a mine, all of the engineering companies, suppliers and consultants are starving for work so you get good prices, get the A-team and you get things delivered on time, so again presuming as we hope for positive results from our PEA, we'll be looking to go forward.

Maybe just re done a follow up; you mentioned at Rochester that 40% of the resource was identified in one stock file. Could you talk a little bit about the legalities; the legal challenges around the ownership there and if you could still be proceeding ahead now based on the fact that there is a lot of concentration of the oar in one stock pile.

Let's come back to your question; it was mentioned 40 some percent basically is in the reserve category on this. So if you look at the technical reports that we filed Jorge, you will see that in the Rochester; these stock piles are personal property so I will discuss more about the legal aspects of it just that we feel comfortable putting them where we haven't?

Our next question comes from the line of Andrew Kaip of BMO Capital Markets.

With respect to La Preciosa I am just wondering if you indicated that you haven't set a budget for the project over the next twelve years as you move to a decision. But I am wondering if you can give us a sense of what are the key priorities that you think that needs to be done and with respect to not it would include items like land acquisitions has that have been started and then also; I like to get a better sense on the infill drilling program; I know that PAN American had been quite embedded into drilling and certain aspects of the deposit. But there are other portions of the deposit that remain very widely spaced in drilling and I am just wondering what your view on infill drilling and the quantity of infill drilling that you foresee.

Looking at our spending in our activity over the remainder of the year; probably three main things we will be working on. Land acquisition being one, water rights being the second one and our exploration and infill drilling activities being the third. We will have ongoing engineering studies and design to which we will also add to the costs. So we are looking at expenditures probably in the range of 10-20 million. Your second question on the infill drilling and I'll pass it on to Don if he wants to add anything else but being familiar with the property. The previous PEA was done on the evaluation I believe; 16 of the veins on the property and there is a reasonable amount of drilling on the property, certainly enough for my design. But there is certainly an opportunity for us to upgrade the components in some of those resources. The second thing is, I believe another 14 banks on the property that were identified in fact by one or two holes, but don’t have a confidence level for us to be included in the current PEA and we are quite interested and anxious to do a little more drilling on those to see if they might be rolled in, reduce our strip ratios and improve the economic.

I mirror what Joe said, Andrew. This deposit, you could see lots of opportunities to grow this both internally and externally and the first thing we need to do is see how the results of the PEA that Joe talked about come up and designed the drilling program accordingly and right now we can do it on paper but it would be better to look at where we need to strategically place drill holes based upon the results of the analysis.

Okay so you’re really going to use that PEA as really the template for moving it forward?

Yes that’s right, Andrew.

Your next question comes from the line of the Anant Inani from JPMorgan.

Most of my questions have been answered but a couple of quick ones, so you’ve talked about dislocation in market and opportunities in junior mining space, are you looking some more specific assets?

We always are and we stay focused on really the jurisdictions where we currently have a presence like I said where our priority number one is achieving a level of consistency in our operations but we do have our head up and opportunistically looking at some situations that we think represents some real fundamental value and make sense for us to be evaluating. Now, it’s nice now to have more of a technical staff and skill set here than we’ve had I think historically to be able to evaluate these things a bit more thoroughly and we’re going through that process on several different situations. But we will only do something that the organization can handle, absorb. We will only do something that achieves the right kind of return and we will do something in the right jurisdiction for the business. We’re not going to go out there and do anything really huge or anything that really gets us off of what we considered would be our core business.

Thank you and do you have any thumb rule as to the size of the project et cetera that you seek out?

Like I said, we don’t want to do anything back to Jorge's point earlier is that is a company maker breaker that’s not we think the right thing for this company right now but at the same time we want make sure that we’re spending our time in resources on opportunities that would at least move the needle for the company, so I know that’s a pretty wide range, I just painted there but we’re not looking for anything really big and we’re not going to waste our time on something really small.

Okay got it and more generally you also talked about change in your opening comment so, with this organization wise staff movement you move to Chicago changing the Company name. What message are you trying to send to investors in the market?

We are trying to send the message that we are serious about following a different path than the one that’s been followed by the industry over the last 20 years. That playbook has not scored a lot of touch downs over the last couple of decades and we’re willing to go our own path and be a bit of a pioneer and that’s reflected in selection of a new headquarter city and in not completely stepping away from the heritage of our name but simplifying it a bit and reflecting the fact that it is a bit of a restart for company that’s had a long presence in the silver industry.

(Operator Instructions). And our next question comes from the line of Brett Levy of Jefferies. Brett Levy - Jefferies & Company: Do you guys mentioned that you were potentially looking at more acquisitions then I guess I figured between La Preciosa and other ramp ups that you’re got going on here and share buybacks. It feels like your plate is pretty full. Are you looking for a large acquisitions, tuck-in acquisitions and then sort of obviously more from a bondholder standpoint, would you add more leverage to make these acquisitions?

We don’t have an appetite do anything that's significant in size, tuck-in anything where we can leverage existing infrastructure, people know how and it has be some strategic merit to an acquisition and not just going out to acquire ounces. That is a bit of a futile exercise in our opinion. Would we add more debt to the balance sheet? We have a pretty conservative philosophy there of one times or less trailing EBITDA, if there was an acquisition opportunity that had existing cash flow that would provide us with the ability to maintain that conservative ratio, but add a little bit of leverage to make an acquisition in a shareholder friendly way, that’s a situation we’d certainly consider but we very mindful of the fact that we’re in a cyclical commodity business and we want to maintain a balance sheet that reflects that.

: Okay. It sounds like we don’t have anybody else in the queue. So, with that we’ll wrap up. And again I appreciate everybody’s time and we will be back with you again in three months with hopefully progress on all the initiatives that we laid out for you here today. So, thanks again for your time.

This does conclude today’s conference call. Thank you for your participation. At this time, you may now disconnect.