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February 22, 2023

Hecla Mining

Coeur D' Alene-based Hecla Mining has entered into a non-binding Letter of Intent to acquire ATAC Resources (ATAC) and its Rackla and Connaught projects in Yukon, Canada. Under the proposed transaction, the company would acquire all of the issued and outstanding shares of ATAC, payable in shares of Hecla common stock. Additionally, the company intends to make a strategic investment into a new exploration company (Spinco) which would hold the remaining assets of ATAC. The key provisions of the LOI are non-binding and any acquisition would only occur pursuant to a definitive agreement with customary representations, warranties, covenants and conditions to closing. Founded in 1891, Hecla Mining is the largest silver producer in the United States.




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