Coeur Granted Court-Imposed Injunction in Rochester Claim Dispute
COEUR D'ALENE, Idaho, Dec 21, 2011 (BUSINESS WIRE) --Coeur d'Alene Mines Corporation (NYSE: CDE) (TSX: CDM) reports that the state district court in Pershing County, Nevada granted, in part, Coeur Rochester's motion for a preliminary injunction against Rye Patch Gold Corp. preventing Rye Patch from entering Coeur Rochester's active mining areas. Mining operations at the Rochester mine site remain unencumbered by this decision and exploration activities continue.
The court-ordered injunction remains in place until resolution of Coeur's legal complaint regarding certain disputed unpatented claims. This new injunction order supersedes the Temporary Restraining Order the judge implemented on December 5, 2011 against Rye Patch. The underlying legal action in this case will continue and discovery will commence with a trial expected in 2012.
While the dispute has no effect on Coeur's Rochester mineral reserves, it may have a minimal impact on the Rochester property's year-end 2010 estimated additional mineral resources. Coeur cannot predict the outcome of this matter, including legal outcomes or the potential for diminishment of its Rochester property package.
This news release contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including statements regarding anticipated operating results. Such statements are subject to numerous assumptions and uncertainties, many of which are outside the control of Coeur. Operating, production, reserves and mineralized material information regarding the Rochester silver-gold mine, and such estimates, the outcome of the legal and technical analysis of the Rochester property and unpatented claims, allegations of competing unpatented property claims and other third party characterizations, financial position of Coeur to pursue legal and technical undertakings, length of time to a resolution, and other statements in this release are based on information that Coeur believes is reasonable, but involve significant uncertainties affecting the business of Coeur, including, but not limited to, outcome of legal action, future gold and silver prices, costs, ore grades, estimation of gold and silver reserves, mining and processing conditions, construction schedules, currency exchange rates, the risks and hazards inherent in the mining business (including environmental hazards, industrial accidents, weather or geologically related conditions), regulatory and permitting matters, as well as other uncertainties and risk factors set out in filings made from time to time with the United States Securities and Exchange Commission, and the Canadian securities regulators, including, without limitation, Coeur's reports on Form 10-K and Form 10-Q. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Coeur disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Coeur undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Coeur, its financial or operating results or its securities.
Donald J. Birak, Coeur's Senior Vice President of Exploration and a qualified person under NI 43-101, supervised the preparation of the scientific and technical information concerning Coeur's mineral projects in this news release. For a description of the key assumptions, parameters and methods used to estimate mineral reserves and resources, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, please see the Technical Reports for each of Coeur's properties as filed on SEDAR at www.sedar.com.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation, such as "measured," "indicated," and "inferred resources," that are recognized by Canadian regulations, but that SEC guidelines generally prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov.
SOURCE: Coeur d'Alene Mines Corporation
Posted: December 21, 2011