Coeur Mining has agreed to acquire Northern Empire Resources Corp. by purchasing all outstanding shares not currently owned by Coeur for approximately $90 million. Northern Empire’s principal asset is the Sterling gold project located in Nevada, which consists of four high-grade heap-leachable deposits with a total inferred gold resource of approximately 709,000 ounces (oz) averaging 2.23 grams per metric ton (g/mt) located on a 143-km² land package approximately 185 kilometers (km) from Las Vegas within the historic Walker Lane trend. The high-grade Sterling gold deposit is a fully permitted, past-producing mine with near-term, low-cost, low-capital production potential. The remaining deposits are collectively known as the Crown Block, which contain significant exploration potential, and the land package also includes 17 new targets that remain untested.

The acquisition adds multiple high-grade oxide gold deposits to Coeur’s evolving development pipeline that have the potential to become future long-life, low-cost operating assets. It also expands Coeur’s historical focus on Nevada, considered one of the world’s top mining jurisdictions. Coeur said it will be focused on a quick restart of the Sterling mine while aggressively exploring the highly prospective Crown Block and other targets.