Announcement • Mar 20

Coeur Mining, Inc. (NYSE:CDE) completed the acquisition of New Gold Inc. (TSX:NGD) from a group of shareholders.

Coeur Mining, Inc. (NYSE:CDE) signed a letter of intent to acquire New Gold Inc. (TSX:NGD) from a group of shareholders for approximately $6.8 billion on September 19, 2025. Coeur Mining entered into a definitive agreement to acquire New Gold from a group of shareholders on November 2, 2025. Under the terms of the arrangement agreement, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold common share. The Exchange Ratio implies consideration of $8.51 per New Gold common share. Upon completion of the transaction, existing Coeur stockholders and New Gold shareholders will own approximately 62% and 38% of the outstanding common stock of the combined company, respectively. Following completion of the transaction, New Gold common shares are expected to be de-listed from the TSX and the NYSE American. Additionally, break fees in the amount of approximately $414 million and approximately $255 million are payable by Coeur and New Gold, respectively. With this acquisition, Coeu will welcome approximately 1,700 employees and 450 contractors into the Coeur organization. Upon closing of the transaction, Patrick Godin and one other current New Gold director are expected to join Coeur's board of directors. The proposed transaction is subject to approval by a British Columbia court. The transaction will require approval by shareholders of New Gold at a special meeting of New Gold shareholders expected to be held in the first quarter of 2026. In addition, the transaction is subject to applicable regulatory approvals, approval by shareholders of Coeur Mining, approval of the listing of Coeur shares of common stock to be issued under the transaction on the NYSE and TSX, Competition Act approval and the satisfaction of certain other closing conditions customary for a transaction of this nature. The transaction has been unanimously approved by the target’s and acquirer’s boards. The transaction is expected to close in H1 2026 and is expected to be accretive to Coeur's per share net asset value, and significantly accretive to operating cash flow and free cash flow metrics. As of December 5, 2025, Commissioner of Competition under the Competition Act approved the transaction. As of January 27, 2026, New Gold Inc. shareholders overwhelmingly approved the plan of arrangement with Coeur Mining, Inc. As of January 30, 2026, New Gold Obtains Final Court Approval for Plan of Arrangement with Coeur Mining. The Transaction remains subject to approval under the Investment Canada Act and the satisfaction of certain other customary closing conditions for transactions of this nature. It is currently anticipated that the Transaction will close in the first half of 2026. BMO Nesbitt Burns Inc. and RBC Capital Markets are acting as a financial advisors and fairness opinion providers to Coeur. Kari MacKay, Hari Marcovici of Goodmans LLP and Andrew Kaplan of Gibson, Dunn & Crutcher LLP are acting as legal advisors to Coeur. National Bank Capital Markets is acting as financial advisor and fairness opinion provider to New Gold and CIBC Capital Markets is acting as financial advisor and fairness opinion provider to the Special Committee of New Gold. Richard Fridman, Aaron J Atkinson of Davies Ward Phillips & Vineberg LLP and Christopher J. Cummings of Paul, Weiss, Rifkind, Wharton & Garrison LLP are acting as legal advisors to New Gold, and Blake, Cassels & Graydon LLP is acting as legal advisor to the Special Committee New Gold. MacKenzie Partners, Inc. acted as proxy solicitor to Coeur. Coeur has agreed to pay BMO Nesbitt Burns, for its financial advisory services in connection with the proposed Arrangement an aggregate fee of $21 million, of which a portion was payable upon delivery of BMO Capital Markets’ opinion regardless of the conclusion reached in such opinion and $16 million is contingent upon consummation of the Arrangement. Under its engagement agreement with Coeur, RBCCM became entitled to a fee of $4,500,000 upon the delivery of its opinion in connection with the Arrangement. Kingsdale Advisors LP served as proxy solicitor to New Gold. Coeur Mining, Inc. (NYSE:CDE) completed the acquisition of New Gold Inc. (TSX:NGD) from a group of shareholders on March 20, 2026. Shortly following the completion of the Transaction, New Gold common shares will be de-listed from the Toronto Stock Exchange (the “TSX”) and the NYSE American. Coeur also intends to cause New Gold to apply to cease to be a reporting issuer under applicable Canadian securities laws. Shares of Coeur common stock are listed on the New York Stock Exchange and the TSX.

Announcement • Dec 09

+ 1 more update

Coeur Mining, Inc. Provides Palmarejo Exploration Update

Coeur Mining, Inc. provided an update on the 2025 exploration program at its Palmarejo gold-silver complex located in southwest Chihuahua, Mexico, which marks its largest exploration campaign since 2012 with approximately 68,000 meters of diamond drilling by eleven drill rigs across its extensive 300 km2 land package of which only 3% has been explored to date. The program has successfully identified numerous resource growth opportunities that represent mine life extension opportunities through a balance of near-mine and district-scale exploration focused on four primary objectives: Step-out and expansion drilling along the near-mine Hidalgo Corridor (Hidalgo, Libertad, and San Juan veins) to increase near-mine inferred resources and support future reserve conversion; Validation drilling at the Independencia Sur deposit located outside of the Franco Nevada gold stream to confirm historical resources and test its continuity with the Independencia Norte system, which is currently being mined; Validation and expansion drilling of historical resources at San Miguel and La Union, which are located further to the east of the Palmarejo mine and outside the Franco Nevada gold stream, which are delivering results that highlight the area's significant untapped potential; Scout drill-testing of new targets located to the east of Palmarejo to further demonstrate the area's significant potential, which has resulted in a new discovery. The 2025 near-mine exploration program focused on step-out drilling around near-mine veins to support inferred resource ounce additions and support long-term mine life extensions, to build on the success of the 2024 program. Hidalgo Corridor: Since its discovery in 2019, Hidalgo has become Palmarejo’s second largest reserve after the Guadalupe deposit, which has been mined since 2014. The 2025 drilling campaign has continued to demonstrate significant growth potential along the Hidalgo, Libertad, and San Juan vein trends which represent northwest extensions of the Independencia system that lie closer to the Palmarejo mill and processing facility. Step-out drilling northwest along the Hidalgo and Libertad trends successfully extended mineralized zones by approximately 500 meters and 300 meters, respectively. Multiple high-grade vein structures and splays have been intersected, which are expected to contribute to inferred resource growth. In addition, drilling along the San Juan trend extended mineralization along an approximately 150-meter strike, where the newly defined veins and splays exhibit grades and widths comparable to those found in the Independencia and Guadalupe systems. Collectively, the Hidalgo Corridor has now been drilled over a total length of 1.55 miles (2.5 kilometers) and remains open along strike and down dip. Initiated in 2023, the ongoing expansion drilling program along the Hidalgo Corridor continues to deliver encouraging results and is expected to justify additional underground development to support further drilling, resource expansion, and reserve additions. Independencia Sur: The Independencia Sur vein represents the southeastern extension of the Independencia Norte vein, which is the primary source of production at Palmarejo. The target lies adjacent to underground infrastructure – a key advantage for future mine development – along the southeastern continuation of the Guadalupe – La Nación system. Following its acquisition from Fresnillo in 2024, Coeur has undertaken detailed mapping, relogging of historic drill core, and conducted validation drilling to confirm previous results. The 2025 drill program consists of 26 kilometers of diamond drilling and is designed to establish a compliant mineral resource estimate. Drilling from both surface and underground platforms has been conducted along a 2.5-kilometer strike length, confirming and refining the known vein geometry. The program successfully intersected five new veins drilled over strike lengths ranging from 300 meters to 800 meters, three of which represent parallel splays in the hanging-wall of the Independencia Sur system. Broad zones of breccia and quartz-calcite veins hosted in rhyolite porphyry returned the highest grades along contact zones with basalts. Highlights include intercepts of up to 19.7 feet grading 0.11 oz/t gold and 10.79 oz/t silver (6.0 meters at 3.6 g/t gold and 370 g/t silver);Hole VIDH-181. Drilling from the La Nación underground workings targeting an undrilled 150-meter gap between the Independencia Sur and Independencia Norte veins successfully connected the two structures as shown in Figure 2, which will be infill drilled in early 2026 to support near-term reserve additions. EAST PALMAREJO EXPLORATION: Coeur’s 2025 exploration program marked the commencement of drilling in East Palmarejo, a large, underexplored area located outside the Franco-Nevada gold stream area of interest and centered around the historic mining town of Guazapares. Most of the known deposits and occurrences of gold and silver are located along two bifurcating northwest-trending fault zones called the San Miguel – San Isidro and the San Antonio – La Unión trends some ten and eight kilometers in length respectively, as seen in Figure 3. These trends are sparsely drilled and continued exploration is expected to produce additional discoveries. Prospectivity within the unexplored Camuchín – Escondida Zone, a 4-kilometer-wide area between the Palmarejo main trend and the San Miguel – San Isidro trend, was underscored by the discovery of the Camuchín trend where 2025 drilling confirmed mineralization over 900 meters, further supporting the Zone’s potential. San Miguel: During 2025, Coeur commenced drilling at San Miguel for the first time, with initial results confirming potential for high-grade gold and silver. Mineralization is hosted within a series of steep southwest-dipping hydrothermal breccias and epithermal veins developed along the contact between rhyolitic tuffs and basalts. Approximately 400 meters of its defined strike length is characterized by historic colonial-era surface workings. The program was designed to validate historical drilling undertaken by Paramount Gold and Silver Corp. from 2007 to 2011 and confirm the continuity and grade of mineralization. Coeur completed 17 diamond drill holes totaling 6,075 meters, which extended the deposit by 90 meters along strike and 100 meters down dip (current length and dip of the deposit are now 1.3 kilometers and 360 meters, respectively). The near-surface mineralization remains open along strike to the northwest, southeast and at depth, indicating strong potential for resource growth. The San Miguel trend has been mapped on surface for four kilometers and forms part of a broader mineralized corridor extending southeast through San Isidro to Sota de Oro where it merges with the north-northwest-trending corridor that hosts the La Unión and San Antonio deposits.

Interest coverage ratio	49.1x
Cash	US$843.17m
Equity	US$10.41b
Total liabilities	US$4.85b
Total assets	US$15.26b

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 23:41
End of Day Share Price	2026/05/07 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Richard Gray	ATB Cormark
Kevin O'Halloran	BMO Capital Markets Equity Research
Adam Graf	B. Riley Securities, Inc.

Coeur Mining Balance Sheet Health

Financial Health criteria checks 5/6

Key information

Recent financial health updates

Is Coeur Mining (NYSE:CDE) Using Too Much Debt?

Recent updates

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