U.S. REPORT Hecla declares dividend and earnings

As a result of increased gold production and lower costs at its silver operations, Hecla Mining (NYSE) reported net earnings of US$591,000 for the third quarter ended Sept. 30, compared to a loss of US$3.5 million in the year-earlier period. For the first nine months of the year, Hecla reported earnings of US$7.1 million compared to a loss of US$9.2 million in the same period of 1989. Gold production for the 9-month period totalled 109,494 oz., up from the 61,650 oz. produced in the 1989 period.

The average price received for gold in the third quarter was US$382 per oz., compared with US$367 per oz. in the third quarter of 1989.

At its regular quarterly board meeting on Friday, Nov. 9, the board of Hecla Mining (NYSE) declared a cash dividend of 5 cents per share to be paid on Dec. 21 to shareholders of record on Nov. 21.

Hecla Mining (NYSE)* 3 months ended Sept. 30 1990 1989 Revenue $38,989 $25,287 Net earnings (loss) 519 (3,457)

per share 0.02 (0.13) 9 months ended Sept. 30 Revenue $103,444 $74,834 Net earnings (loss) 7,105 (9,177)

per share 0.26 (0.34)