Coeur Mining reports K-Zone and Rainy River exploration gains

Coeur Mining, Inc. (NYSE: CDE) released an exploration update for its New Afton and Rainy River operations in Canada, reporting expanded mineralization at both sites.

At New Afton's K-Zone deposit in British Columbia, expansion drilling has extended mineralization more than 300 meters beyond the original footprint of approximately 850 meters. Growth has occurred primarily to the west and southeast. In the western area, mineralization was extended approximately 150 meters, while drilling at the East Picrite Trend extended the mineralized system at least 100 meters to the southeast. An underground exploration drift under development is expected to provide access to test up to 450 meters of additional strike potential.

The K-Zone maiden mineral resource, announced in March 2026, totals 48 million tonnes of measured and indicated resources and 6 million tonnes of inferred resources. New Afton's 2025 proven and probable reserves totaled 36 million tonnes containing 780,000 ounces of gold and 591 million pounds of copper.

At Rainy River in Ontario, underground expansion drilling extended the ODM Main Zone by more than 150 meters and Zone 17 by more than 200 meters down-plunge. Infill drilling covered a 275-meter by 150-meter gap in the ODM Main Zone core, with results expected to support potential resource reclassification from inferred to measured and indicated at year-end. Surface reverse circulation drilling tested mineralization between the planned Northwest Trend and Phase 5 pits, with 12 of 24 holes intersecting mineralization that met or exceeded expectations.

Coeur's 2026 exploration budget is $158 million, more than double its 2025 level. The company has allocated approximately $24 million to New Afton and $18 million to Rainy River.

"At New Afton, Coeur is advancing the K-Zone, one of its most compelling growth opportunities within the portfolio," said Aoife McGrath, Executive Vice President, Exploration. "At Rainy River, ongoing expansion and infill drilling continue to demonstrate the opportunity to grow both underground and open-pit mineral resources."

Coeur acquired New Afton and Rainy River through its purchase of New Gold Inc. on March 20, 2026.

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