Hecla Announces Offering to Complete Greens Creek Acquisition Financing

COEUR D'ALENE, Idaho--(Business Wire)--
Hecla Mining Company (NYSE:HL) ("Hecla") today announced that it
has filed a preliminary prospectus supplement to its existing shelf
registration statement with the U.S. Securities and Exchange
Commission (SEC) relating to an underwritten public offering of 30
million shares of its common stock. The underwriters will also have a
30-day option to purchase up to 4.5 million additional shares of
common stock from Hecla to cover over-allotments, if any.

Hecla intends to use the net proceeds from this offering, along
with funds available in the company's treasury, to retire the $220
million bridge loan facility that was part of the financing obtained
to purchase the remaining 70.27% of the Greens Creek joint venture in
April 2008, as well as for other general corporate purposes. The
acquisition provided Hecla with 100% ownership of the world's fifth
largest and lowest-cost silver mine, which is expected to increase the
company's silver production to approximately 11 million ounces in
2009. Hecla President and Chief Executive Officer Phillips S. Baker,
Jr., said, "Greens Creek is a wonderfully long-lived, low-cost asset
that will benefit Hecla and its shareholders for many years to come,
and I am confident the value this property adds to our company will be
recognized in our share price in the future."

Merrill Lynch & Co. and Scotia Capital will act as the joint
book-running managers for the offering. BMO Capital Markets and RBC
Capital Markets will act as co-managers for the offering.

Hecla has filed a shelf registration statement (including a
prospectus) and a preliminary prospectus supplement with the SEC for
the offering to which this communication relates. Before you invest,
you should read the preliminary prospectus supplement and the
prospectus in that registration statement and other documents Hecla
has filed with the SEC for more complete information about the issuer
and the offering. You may get these documents for free by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, Hecla, any
underwriter or any dealer participating in the offering will arrange
to send you a copy of the preliminary prospectus supplement and
prospectus in the registration statement if you request it by calling
Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at
212-449-1000 or Scotia Capital (USA) Inc. toll-free at 212-225-6853.

The shelf registration statement relating to the foregoing has
previously been filed with the U.S. Securities and Exchange Commission
and became effective upon filing. This press release does not
constitute an offer to sell or a solicitation of an offer to buy the
shares of common stock or any other securities, nor will there be any
sale of the shares of common stock or any other securities in any
state or jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

Hecla Mining Company, headquartered in Coeur d'Alene, Idaho,
mines, processes and explores for silver and gold in the United States
and Mexico. A 117-year-old company, Hecla has long been well known in
the mining world and financial markets as a quality producer of silver
and gold. Hecla's common shares are traded on the New York Stock
Exchange under the symbol "HL."

Statements made which are not historical facts, such as
anticipated payments or purchases are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995, and involve a number of risks and uncertainties that could cause
actual results to differ materially from those projected, anticipated,
expected or implied. These risks and uncertainties include, but are
not limited to, metals price volatility, volatility of metals
production and costs, exploration risks and results, political risks,
project development risks, labor issues and ability to raise
financing. Refer to Hecla's Form 10-Q and 10-K reports for a more
detailed discussion of factors that may impact expected future
results. Hecla undertakes no obligation and has no intention of
updating forward-looking statements.

Hecla's Home Page can be accessed on the Internet at
www.hecla-mining.com.

Hecla Mining Company
Vicki Veltkamp, 208-769-4128
Vice President -- Investor and Public Relations

Copyright Business Wire 2008