Exhibit 99.1

Hecla Reports First Quarter 2012 Results

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--May 8, 2012--Hecla Mining Company (“Hecla”) (NYSE:HL) today announced first quarter net income applicable to common shareholders of $12.4 million, or $0.04 per basic share, and earnings after adjustments applicable to common shareholders of $16.9 million, or $0.06 per basic share. First quarter silver production was 1.3 million ounces at a cash cost of $2.24 per ounce, net of by-products.

FIRST QUARTER 2012 HIGHLIGHTS

• Sales of $91.2 million.
• Net income applicable to common shareholders of $12.4 million, or $0.04 per basic share.
• Earnings after adjustments applicable to common shareholders (a non-GAAP measure) of $16.9 million, or $0.06 per basic share.
• Operating cash flow of $41.4 million.
• Silver production of 1.3 million ounces at a total cash cost (a non-GAAP measure) of $2.24 per ounce, net of by-products.
• Cash and cash equivalents of $279 million at March 31, 2012.
• Lucky Friday rehabilitation advanced approximately 1,500 feet.
• Declaration of quarterly dividend of $0.0225 per share of common stock.
• Announced a share repurchase program.

"During the first quarter of 2012 we continued to invest in Hecla's strong and diversified assets, making excellent progress in the rehabilitation of our Lucky Friday Silver Shaft and record investment in our Greens Creek mine. We also advanced all three major pre-development projects, with the goal of increasing our silver production and reserves by moving into development quickly," said Hecla's President and Chief Executive Officer Phillips S. Baker, Jr.

"While our first quarter silver production at Greens Creek was impacted by ground support work that diverted equipment and personnel, we expect production to increase for the rest of the year," Mr. Baker added. "The combination of Hecla's strong balance sheet, including a cash balance of $279 million and substantially no debt, and its long-lived, low cost mines which provide strong cash flow will allow us to deliver an expected 50% growth in silver production while also allowing the company to deliver value to shareholders through the Company's dividend and share repurchase programs."

FINANCIAL OVERVIEW

Net income applicable to common shareholders for the first quarter was $12.4 million, or $0.04 per share, compared to $43.2 million, or $0.15 per share, for the same period a year ago and was impacted by the following items:

• Exploration and pre-development expense increased to $9.0 million in the first quarter from $3.3 million in the same period in 2011, for exploration work at Greens Creek, the Company's extensive land package in Durango, Mexico, at San Juan Silver project in Colorado, and the Star complex in North Idaho's Silver Valley near the Lucky Friday mine.
• $6.2 million in suspension-related costs at the Lucky Friday mine.
• A $5.2 million loss on base metal derivative contracts for the first quarter, compared to a $2.0 million loss for the same period in 2011. A summary of the quantities of base metals committed at March 31, 2012, is included on page 3 of this release.
• A $7.3 million tax provision compared to $23.5 million in the same period in 2011, as a result of higher pre-tax income in 2011. Our effective income tax rate is approximately 37% in 2012 compared to 33% in the same period in 2011.
• Gains of $6.1 million on provisional price adjustments compared to $7.2 million in the same period of 2011.

Capital expenditures (including non-cash capital lease additions) at the operations totaled $26.4 million for the first quarter ended March 31, 2012. Expenditures at the Lucky Friday were $11.7 million and expenditures at Greens Creek were $14.7 million. Capital expenditures are expected to be $140.0 million for the year, primarily due to an increase in projects at Greens Creek.

Pre-development expenditures totaled $3.4 million in the first quarter of 2012. Pre-development expenditures in 2012 are expected to be approximately $11.0 million for infrastructure at the Star mine in the Silver Valley, San Juan Silver property in Creede Colorado, and the San Sebastian property in Mexico.

Exploration expenditures for the first quarter of 2012 were $5.6 million. Exploration expenditures for 2012 are expected to be approximately $28.0 million.

Metals Prices

Realized silver prices in the first quarter of 2012 were $36.59 per ounce, consistent with average realized prices in the year ago period of $36.49 per ounce.

Overall first quarter realized metals prices were higher than those in the fourth quarter 2011, resulting in positive adjustments to provisional settlements of $6.1 million compared to net positive price adjustments to provisional settlements of $7.2 million in the same period in 2011. The adjustment to provisional settlements is largely due to an increase in prices in the time period between the shipment of concentrate and the final settlement. The provisional price adjustment related to zinc and lead contained in our concentrate shipments was largely offset by net losses on forward contracts of $1.0 million for those metals.

Base Metals Forward Sales Contracts

The following table summarizes the quantities of base metals committed under financially settled forward sales contracts at March 31, 2012:

OPERATIONS OVERVIEW

First quarter silver cash cost was $2.24 per ounce, net of by-products, compared to $1.03 per ounce in the same period in 2011. The following table provides the production summary on a consolidated basis for the first quarter ended March 31, 2012 and 2011:

Greens Creek Mine - Alaska

Silver production at Greens Creek was 1.3 million ounces in the first quarter of 2012, compared to 1.7 million in the same period in 2011. The decrease in silver production year-over-year was due primarily to ground support rehabilitation work that diverted equipment and personnel away from production.

Mining and milling costs per ton were up by 37% and 18%, respectively, in the first quarter compared to the same period in 2011 due to lower production, as mill throughput decreased by 13%. The mining costs variance is also attributed to higher maintenance costs during the 2012 period.

The cash cost per ounce of silver increased by $2.97 for the first quarter compared to the same period in 2011, mainly attributable to lower silver ounces produced due to the decrease in mill throughput and lower silver ore grades ($4.71 per ounce), treatment and freight costs ($2.68 per ounce), and mine license tax and other costs ($0.97 per ounce). These factors were partially offset by higher by-product credits of $5.39 per ounce due to higher average gold prices and higher zinc and lead ore grades.

Lucky Friday Mine - Idaho

At the Lucky Friday mine, the $19.9 million decrease in gross profit in the first quarter compared to the same period in 2011 resulted from the temporary suspension of production at the mine during the 2012 period. The mine's Silver Shaft is undergoing rehabilitation and extensive improvements, with operations and silver production expected to resume as planned in early 2013. Through the first quarter, all surface work needed for the rehabilitation project was completed, including winches, generators and revised shaft collar structure.

As of early May, approximately 1,500 feet of rehabilitation work on the Silver Shaft had been completed, slightly ahead of plan. This work involves the removal of cementitious material along the main shaft, as well as installation of a metal brattice between the east and west halves of the shaft, repairing shaft steel, and installation of a new power cable, along with additional work, which is expected to improve the shaft's functionality and possibly improve its hoisting capacity. Work along the entire 6,100 foot Silver Shaft is expected to be completed in December 2012.

According to the plan submitted and approved by MSHA, once restoration work in the Silver Shaft is complete through the 4900 level, work crews are expected to be brought back in for development work to prepare the mine for resumption of production.

Care and maintenance costs incurred at the Lucky Friday totaled $6.2 million for the first quarter of 2012.

Exploration

Exploration expenditures for the first quarter were $5.6 million with $1.8 million for exploration at San Juan Silver in Colorado, $1.5 million for San Sebastian in Mexico, $0.6 million at Greens Creek, $0.5 million at the Star and $0.4 million for the Silver Valley. Expenditures for 2012 are expected to be approximately $28.0 million.

Drilling at Greens Creek continues to define ore-grade mineralization along trend of the Gallagher and 9a Zones and South West Bench. Drilling of the 9a Zone has likely extended the resource to the south and drilling of the South West Bench has defined ore-grade material to the north and the east of the existing reserve model. At the Gallagher, drilling continues to define two discrete high-grade zones that are strong to the south and to the east near the Gallagher Fault.

At the north end of the recently expanded Star Complex resource, there are now two drills defining high-grade, northerly and down-dip extensions to the Moffitt, North Star and Noonday veins. Drilling of the Moffitt veins includes intersections of 8.0 opt silver, 26.9% lead, 6.7% zinc over 5.3 feet; 5.0 opt silver, 16.9% lead, 0.7% zinc over 1.5 feet; and 2.6 opt silver, 7.9% lead, 12.9% zinc over 4.3 feet. The North Star is a 42-foot wide stringer zone that includes four separate veins ranging from 1.0 to 2.2 opt silver and 6 to 20% lead-zinc across widths of 1.5 to 5.8 feet.

Most of the exploration drilling in the first quarter occurred underground in the Equity at the San Juan Silver property in Colorado. Initial high-grade gold-silver results at the Equity mine were provided in a press release on February 27, 2012. New drilling has extended the strike length another 50 feet to 200 feet. The plunge of the mineralized zone has now doubled to about 450 feet. Drilling continues to identify strong breccia and vein mineralization that varies from 7 to 25 feet wide with fine-grained sulfides and silver sulfosalts-rich intervals. A second parallel mineralized structure appears in several drill holes.

Assay results from drilling since the February 27 press release include several samples from the Equity vein; 0.17 opt gold and 16.8 opt silver over 6.4 feet; 0.09 opt gold and 23.5 opt silver over 5.2 feet; 0.38 opt gold and 40.2 opt silver over 6.8 feet; and 0.08 opt gold and 9.2 opt silver over 6.4 feet. A second drill is being mobilized to test additional targets.

In Mexico, two drills have been actively drilling extensions to the Andrea vein resource and the Antonella, a parallel, subsidiary vein. Drilling of the Andrea vein to the southeast continues to define a strong vein and breccia varying in width from 4 feet to 16 feet with bands of precious metal bearing sulfides. Step-out holes to the southeast continue to intersect the wide-mineralized Andrea vein that extends 500 meters beyond the 1.7 km strike resource.

Pre-Development

Pre-development expenditures for the first quarter of 2012 were $3.4 million with $2.2 million at the San Juan Silver property in Colorado, $1.1 million at the Star property in Idaho and the remaining funds in Mexico. Pre-development expenditures for 2012 are expected to total approximately $11.0 million.

In Colorado at the Equity, crews are continuing to rehabilitate underground workings, install utilities down the decline and develop additional drill stations as drilling continues to intercept high-grade mineralization. At the Bulldog, the design of the decline is being finalized and steel sets for installation at the portal have been received. In addition, surface maintenance facilities have been completed at the Equity and Bulldog project sites.

In Idaho's Silver Valley, as the result of completing Star’s mineability study, which has defined the mining method, a preliminary economic analysis is being prepared which is expected in the third quarter. Rehabilitation on the Star 2000 level continues around the shaft stations, the Star #4 hoist room and the Star #5 shaft where a connection to the Grouse 700 Level will provide secondary surface access. In addition, surface maintenance facilities have been completed.

At the San Sebastian project in Mexico, options for accessing the existing resources at the Hugh Zone and a new mine plan have been completed. A preliminary economic analysis is expected to be completed during the third quarter of this year.

A work plan and drill program to define the hydrology of the Andrea area, which is located on the same property package as the Hugh Zone, has been completed and preliminary mine designs have begun. Initial metallurgical testing indicates the Andrea ores are amenable to cyanidation and produce a high-grade gravity concentrate. Further studies will optimize grind versus recovery, leach time, cyanide concentration and consumption, gravity concentrations and carbon loading for a potential CIL circuit.

NEW STAFF APPOINTMENTS

During the first quarter, the Company announced the appointments of Ed Sutich as Vice President and General Manager of the Lucky Friday mine, John Jordan as the new Vice President of Technical Services, and Michael Wegleitner as Director of Health and Safety.

“These professionals have a combined 88 years of mining experience, and we are confident in their ability to deliver on our continued and relentless focus on the highest levels of mine safety, planned mine development, and expected silver production increases,” said Hecla CEO Phillips S. Baker, Jr.

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held Tuesday, May 8, at 1:00 p.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-866-543-6407 or 1-617-213-8898 internationally. The participant passcode is HECLA. Hecla's live and archived webcast can be accessed at www.hecla-mining.com under Investors or via Thomson StreetEvents Network.

ABOUT HECLA

Established in 1891, Hecla Mining Company has distinguished itself as the largest and lowest cash cost silver producer in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico. With a solid asset base, a strong cash position and no debt, Hecla is poised for growth.

Cautionary Statements

Statements made which are not historical facts, such as anticipated payments, litigation outcome (including settlement negotiations), production, sales of assets, exploration results and plans, costs, and prices or sales performance are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “believes,” “estimates,” “targets,” “anticipates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to, metals price volatility, volatility of metals production and costs, litigation, regulatory and environmental risks, operating risks, project development risks, political risks, labor issues, ability to raise financing and exploration risks and results. Refer to the company's Form 10-K and 10-Q reports for a more detailed discussion of factors that may impact expected future results. The company undertakes no obligation and has no intention of updating forward-looking statements other than as may be required by law.

Cautionary Statements to Investors on Reserves and Resources

The United States Securities and Exchange Commission permits 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 on this release, such as “resource,” “other resources,” and “mineralized materials” that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K and Form 10-Q. You can review and obtain copies of these filings from the SEC's website at www.sec.gov.

Non-GAAP Measures

(Unaudited)

This release contains references to a non-GAAP measure of cash costs per ounce. Cash costs per ounce of silver represent non-U.S. Generally Accepted Accounting Principles (GAAP) measurements that the Company believes provide management and investors an indication of net cash flow. Management also uses this measurement for the comparative monitoring of performance of mining operations period-to-period from a cash flow perspective. "Total cash cost per ounce" is a measure developed by gold companies in an effort to provide a comparable standard; however, there can be no assurance that our reporting of this non-GAAP measure is similar to that reported by other mining companies. Cost of sales and other direct production costs and depreciation, depletion and amortization was the most comparable financial measures calculated in accordance with GAAP to total cash costs.

The following table calculates cash cost per ounce:

This release also refers to a non-GAAP measure of earnings after adjustments. Earnings After Adjustments and Earnings After Adjustments per share are non-GAAP measures which are indicators of our performance. They exclude certain impacts which are of a nature which we believe are not reflective of our underlying performance. Management believes that earnings after adjustments per common share provides investors with the ability to better evaluate our underlying operating performance. The following table reconciles net income applicable to common shareholders to earnings after adjustments applicable to common shareholders:

Assay Results - Q1 2012

CONTACT:
Hecla Mining Company
Sr. Vice President – CFO
Jim Sabala, 208-209-1255
Direct Main: 800-HECLA91 (800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com