Exhibit 99.1

Hecla's Net Income Doubles in the First Quarter 2011

For the Period Ended March 31, 2011

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--May 9, 2011--Hecla Mining Company (“Hecla”) (NYSE:HL) today announced first quarter financial and operational results. Hecla reported net income applicable to common shareholders of $43.2 million, or $0.16 per basic share. First quarter silver production was 2.5 million ounces at a total cash cost of $1.03 per ounce, net of by-products.¹

FIRST QUARTER 2011 HIGHLIGHTS

• Revenues of $136.4 million, a $56.5 million increase over the same period in 2010
• Gross profit of $79.6 million, more than double the amount for the same period in 2010
• Net income applicable to shareholders of $43.2 million, or $0.16 per basic share
• EBITDA of $81.0 million in comparison to $31.7 million in the same period in 2010²
• Operating cash flow of $60.9 million, a $43.1 million increase over the same period in 2010
• Silver production of 2.5 million ounces at a total cash cost of $1.03 per ounce, net of by-products
• Cash and cash equivalents of $321.7 million, a $38 million increase in the quarter

“Hecla's first quarter results were records for revenue, gross profit, and net income reflecting the strong operating performance and metals prices,” said Hecla’s President and Chief Executive Officer, Phillips S. Baker, Jr. “We expect our balance sheet and growing cash flow will meet our financial obligations, fund capital projects that expand our operations, and advance organic growth projects on our large land packages in the U.S. and Mexico. Notwithstanding these results, we are deeply saddened by the loss of Larry Marek, a family member, friend and colleague. He will be greatly missed. The strength and dedication of the Lucky Friday team during the rescue and recovery efforts was unwavering. I would like to extend my gratitude to all of those who had us in their thoughts and prayers and helped us during this difficult time.”

¹⁾ Total cash cost per ounce of silver represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of total cash cost to cost of sales and other direct production costs and depreciation, depletion and amortization (GAAP) can be found at the end of the release.

²⁾ Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) is not a measure of operating performance computed in accordance with GAAP and should not be considered as a substitute for net income prepared in conformity with GAAP. A reconciliation of adjusted EBITDA to net income (GAAP) can be found at the end of the release.

FINANCIAL OVERVIEW

Hecla reported strong first quarter 2011 revenues and cash flow from operating activities as a result of Lucky Friday's and Greens Creek’s performance and higher metals prices. Net income applicable to common shareholders for the quarter increased by $24.8 million over the same period in 2010. The increase in net income and gross profits in the first quarter was due to higher metals prices.

Hecla’s cash position at March 31, 2011 was $321.7 million, compared to $116.3 million of cash on hand at March 31, 2010.

Capital expenditures at our operations totaled $21.8 million for the first quarter of 2011. The expenditures incurred at Lucky Friday were $14.4 million, the majority of which was on the #4 Shaft Project. The expenditures incurred at Greens Creek were $4.9 million.

Exploration expenditures during the first quarter were $3.3 million. Drill programs were under way in Mexico, the Silver Valley, Greens Creek, and Lucky Friday (underground), with preparations for drilling at the San Juan Silver JV and Greens Creek (surface) in progress. Because of weather conditions, the first quarter always has the smallest exploration expenditures.

Coeur d’Alene Basin Litigation

In May, settlement of the litigation advanced with the negotiators representing Hecla Limited and the United States, the Coeur d’Alene Indian Tribe, and the State of Idaho reaching an understanding on the proposed non-monetary terms of settlement that, together with the previously announced proposed monetary terms, would represent a comprehensive settlement of the Coeur d’Alene Basin litigation and related claims in the form of a Consent Decree. Although Hecla is optimistic the Consent Decree will be entered, there can be no assurance that the parties will successfully complete the terms of a Consent Decree or that the Consent Decree will be entered by the Court and thereby become final and binding. For more information on the proposed terms of settlement, please refer to our Form 10-Q filed with the SEC on May 9, 2011.

Metals Prices

Realized metals prices increased significantly in the first quarter of 2011 compared to the same period in 2010. In the first quarter of 2011, realized metals prices exceeded market prices primarily because of precious metals provisional price gains of $8.4 million. This compares to a price adjustment of negative $0.4 million in the first quarter 2010.

Base Metals Forward Sales Contracts

The following table summarizes the quantities of base metals committed under financially settled forward sales contracts at March 31, 2011:

OPERATIONS OVERVIEW

Silver production of 2.5 million ounces was almost identical to the first quarter 2010. The increase in cost of sales and total cash cost per ounce of silver quarter-over-quarter is attributable to increased mine license taxes, higher treatment and freight charges, incurred employee profit-sharing due to higher metals prices, and increased production costs, and for cost per ounce, lower gold, zinc and lead ore grades resulting in lower by-product credits. Depreciation, depletion and amortization have declined due to lower zinc and lead production at Greens Creek.

(1) Total cash cost per ounce of silver represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of total cash costs to cost of sales and other direct production costs and depreciation, depletion and amortization (GAAP) can be found at the end of the release.

Greens Creek

First quarter silver production at Greens Creek of 1.7 million ounces was slightly higher than the same period in 2010. The increase is due to higher silver ore grades.

Total cash cost for the first quarter was negative $0.73 per ounce, net of by-products, compared to negative $6.47 per ounce, for the same period in 2010. The increase in total cash cost in the first quarter over the same period in 2010 is due to lower by-product credits, higher mine license tax and profit sharing due to higher metals prices, and increased production costs. Mining and milling costs per ton in the first quarter 2011 increased by 11% and 25%, respectively, due primarily to lower mill throughput, resulting from lower availability of higher-volume longhole stopes, and an increase in power costs, due to higher diesel prices and reduced availability of hydroelectric power.

Lucky Friday

First quarter silver production at Lucky Friday was 0.8 million ounces, which was slightly lower than the same period in 2010. The overall decrease in production quarter-over-quarter is primarily due to lower silver ore grade.

Total cash cost at Lucky Friday was $4.99 per ounce, net of by-product credits, in comparison to $3.21 per ounce, for the same period in 2010. The increase in total cash cost per ounce quarter-over-quarter is mainly due to higher treatment and freight costs, employee profit-sharing due to higher metals prices, and increased production costs. This was partially off-set by higher lead and zinc by-product credits. Mining and milling costs per ton increased in the first quarter 2011 by 10% and 6%, respectively, due to a decrease in tonnage produced, increased fuel costs, and consumable underground materials.

On April 15, 2011, a fatal accident occurred at the Lucky Friday Mine resulting in our decision to immediately halt all operations at the mine (other than rescue efforts) for a period of 10 days. The accident involved a localized fall of ground at 6150 level in the west 15 stope. The Mine Safety Health Administration (“MSHA”) had representatives on-site during the rescue and recovery effort. They will access the mine during the investigation. Stopes 15 and 12 are currently closed; however, it is not anticipated to impact guidance.

ENGINEERING ORGANIC GROWTH

Hecla is currently looking at potential projects which could generate organic growth for the Company. These projects have been separated into three categories: construction, scoping studies, and exploration.

Construction - #4 Shaft Project

Lucky Friday's #4 Shaft Project progressed well during the quarter. Completion of the hoist room at the end of 2010 allowed the associated equipment installation to continue with all major mechanical components installed and operational. Detailed engineering of the shaft and its components are expected to be completed in the second quarter. Drilling of the geotechnical hole is under way. We expect to get final approval from the Board of Directors on this project by mid-2011.

Capital expenditures were $11.6 million for a total of $60.3 million spent to date on the project. Total project capital is expected to be approximately $200 million, which includes $45 million budgeted for the full year of 2011, for an internal shaft descending from the 4900 level to the 8800 level, with expected completion in 2014.

Scoping Studies

The Company has initiated three re-opening studies of mines that operated in the last 25 years or less in price environments that were significantly lower than current prices and that have identified resources. In the Silver Valley, the Star mine operated from 1891 to 1981 and again in the early ‘90’s. This re-opening study will quantify existing resources and develop a plan for rehabilitating access for both operations and exploration. This study will include the Noonday. The second is the San Juan Silver JV in Creede, Colorado, where the study is developing plans to re-open the Bulldog portal and underground drifts to provide underground drill platforms and access resources. The company which previously operated the Bulldog mine reported approximately 37 million ounces in reserves which Hecla currently reports as a resource. The third is an update of the scoping study on the Hugh Zone at our San Sebastian property in Mexico, to look at potentially resuming production on this deeper polymetallic orebody.

In addition, Hecla has initiated work on two scoping studies at the mines. The first is a mine optimization study at Lucky Friday to establish the optimal rate of mining in order to determine a mill expansion. The second study is developing plans to rehabilitate the 29 Ramp at Greens Creek which could increase silver production from the higher grade East Ore zone and extend mine life.

EXPLORATION

At Greens Creek, results from underground drilling continue to define high-grade resources at the NWW Zone for over 400 feet strike along two limbs below the current workings. The two mineralized zones remain open along strike in both directions. Drilling from the southern-most section of Deep 200 South intersected white baritic ore with precious and base metals in both zones. This is an 800-foot continuation of a high-grade mineralized trend that does not appear to be weakening in either thickness or grade.

Past drilling at the western-most Gallagher Zone defines multiple intervals of dominantly white baritic ore containing bands of massive, fine-grained sulfides including galena and sphalerite. The upper lens varies from 15 to 32 feet in thickness, the middle lens varies from 10 to 25 feet and the lower tail varies from 12 to 20 feet. These broader zones typically vary in grades from 4.5 to 8.0 ounces per ton silver, 0.04 to 0.11 ounce per ton gold, and 4% to 16% combined lead and zinc. Within these broad zones are higher-grade cores from 4 to 8 feet in thickness that include 5.5 to 12.6 ounces per ton silver, 0.08 to 0.21 ounce per ton gold, and 6.8% to 36.3% combined lead and zinc. Recent drilling along 300 feet of strike length defined flat-lying mineralization that is continuous for over 500 feet and steepens as it is terminated to the east and west. Drilling has also defined a second discrete orebody near the Gallagher Fault.

Approval of the 2011 surface exploration work plan at Greens Creek from the U.S. Secretary of Agriculture was received and pad building for drill sites has begun. Road drilling commenced in early May and by mid-May, a second surface drill will be operational. By early June, three drills will be operating on surface at Greens Creek and a program of over 35,000 feet is anticipated for 2011.

At the Lucky Friday, drilling continues to define strong veining in the intermediate veins to the east and below the 4050 Level beyond the current resource boundaries. Drilling from the 4050 Level at the Lucky Friday is improving reserve quality and increasing resources between the 3600 and 4400 elevations. Drill intersections of the 30 Vein are narrow with variable grade; however, a number of intermediate veins have significant intersections that could represent new resources. Exploration drilling also continued from the 5900 #4 Shaft Project station to target the west side of the deposit to about the 8000 Level.

In Mexico recent high-grade, gold-silver drill intersections on the epithermal Andrea Vein have now defined a 1 to 5 meter-wide mineralized vein with a strike length of 1.0 mile that is open in a number of directions. The main Andrea Vein and mineralized splays consist of banded quartz sulfide veins with localized brecciation, with halos containing strong alterations and disseminated sulfides. The consequence of these encouraging results is an expansion of the original drill program to three drills in operation.

At the San Juan Silver JV (Creede, CO district), with partners Emerald Mining and Leasing, LLC and Golden 8 Mining LLC, a new high-grade gold/silver zone was encountered by drilling in late 2010 at the intersection of the Amethyst and Equity Vein. Drill intersections from the program in 2010 included 13.1 ounces per ton silver and 0.18 ounce per ton gold over 7.9 feet, 10.0 ounces per ton silver and 0.14 ounce per ton gold over 5.5 feet, 31.8 ounces per ton silver and 0.31 ounce per ton gold over 2.5 feet, 2.31 ounces per ton silver and 0.45 ounce per ton gold over 2.0 feet, and 0.32 ounce of silver over 2.0 feet. These intersections will be followed-up with both a surface drill program in June and a plan to re-open the Equity portal and related underground workings to drill this new target from underground later this year in an effort to define a new gold-silver resource.

2011 GUIDANCE

Hecla reiterates silver production guidance in 2011 which will range between 9 and 10 million ounces. Forecast total cash cost per ounce³ is expected to be approximately zero dollars per ounce of silver produced, net of by-product credits, based on $1,350 per ounce of gold, and $1.05 per pound of lead and zinc.

CONFERENCE CALL AND WEBCAST

A conference call and webcast will be held Monday, May 9, at 11:00 a.m. Eastern Time to discuss these results. You may join the conference call by dialing toll-free 1-866-713-8395 or 1-617-597-5309 internationally. The participant passcode is HECLA.

Hecla’s live and archived webcast can be accessed at www.hecla-mining.com under Investor Relations or via Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson Street Events (www.streetevents.com), a password-protected event management site.

ABOUT HECLA

Established in 1891, Hecla Mining Company is 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.

³⁾ Forecast total cash cost per ounce of silver represents a non-U.S. Generally Accepted Accounting Principles (GAAP) measurement. A reconciliation of forecast total cash cost to cost of sales and other direct production costs and depreciation, depletion and amortization (GAAP) can be found at the end of the release.

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, and 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, environmental and litigation 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 10Q. You can review and obtain copies of these filings from the SEC’s website at www.sec.gov.

(1) Gold, lead and zinc produced have been treated as by-product credits in calculating silver costs per ounce. Total cash costs per ounce of silver and gold represent non-U.S. Generally Accepted Accounting Principles (GAAP) measurements. A reconciliation of total cash costs to cost of sales and other direct production costs and depreciation, depletion and amortization (GAAP) can be found in the cash costs per ounce reconciliation section of this news release.

(1) 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.

(1) Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) is not a measure of operating performance computed in accordance with GAAP and should not be considered as a substitute for net income prepared in conformity with GAAP. In addition, EBITDA may not be comparable to similarly titled measures of other companies. EBITDA excludes the impacts of interest expense (net of interest income), income tax provision or benefit, depreciation, depletion and amortization of property, plants, equipment, and mineral interests, gain on sale of investments, and loss on derivative contracts. Management believes that EBITDA is an important indicator of our operations because it excludes items that may not be indicative of our core operating results, and provides a baseline for evaluating our underlying performance.

(1) Forecast 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.

CONTACT:
Hecla Mining Company
Mélanie Hennessey, 604-694-7729
Vice President – Investor Relations
Direct Main: 800-HECLA91 (800-432-5291)
hmc-info@hecla-mining.com
www.hecla-mining.com