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Coeur Reports Discovery of New Vein System at Kensington Mine

Thursday, February 4th, 2010

Coeur d’Alene Mines Corporation (NYSE:CDE)(TSX:CDM)(ASX:CXC) announce the discovery of a new high-grade vein system at its Kensington Gold Mine, which is scheduled to commence production in the third quarter of 2010 at the rate of approximately 120,000 ounces of gold annually.
The new structure, named the Kimberly, is a gold-bearing vein system exposed in the decline from the mill to the Kensington mine, within the large exploration district Coeur controls around the mine, located 45 miles northwest of Juneau, Alaska. In a drilling program initiated in 2009, eight phase-one core holes intersected very significant gold mineralization. Assays ranged from 0.144 ounces per ton to over 1.29 ounces per ton (see table of results in this release). A total of fourteen core holes, totaling over 4,080 feet, were completed in the fourth quarter.
“This first phase of drilling at Kimberly intersected mineralization typical of other major gold systems at Kensington. We are encouraged with the style and strength of mineralization in this first phase of drilling and that Kimberly consists of at least two structures that are open at depth and on strike,” said Coeur Senior Vice President Exploration Donald Birak. “Phase-one drilling has defined gold mineralization over a north-south strike length of 600 feet and nearly 600 foot down dip to the southwest. These characteristics suggest that Kimberly may develop into a major, new gold system at Kensington and bodes well for other future discoveries in this gold district. Our future exploration will focus on expanding and defining Kimberly, testing other targets, and exploring for other similar blind veins nearby.”
Kensington is scheduled to begin in the third quarter of 2010 at a rate of 120,000 ounces of annualized gold production. At December 31, 2009, Kensington held 1.5 million ounces of proven and probable gold reserves with an initial mine life expected at 12.5 years.
(Ref 788)

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