Hecla Mining Company (“Hecla”) – 7.25% Senior Notes due 2028

TRANSACTION DOCUMENTS

the Underwriting Agreement;

the Prospectus Supplement;

the Post-Effective Date Amendment;

the Indenture;

the notation of guarantee representing the Guarantee of the Corporation, dated February 19, 2020;

the Registration Statement;

the Base Prospectus;

the Preliminary Prospectus; and

the global certificates representing the Notes.

EXAMINATIONS AND INVESTIGATIONS

a certificate of compliance (the “Certificate of Compliance”) dated February 18, 2020, issued for the Corporation under the Canada Business Corporations Act (the “CBCA”) by Industry Canada, a copy of which we have delivered to you, and

a certificate, dated the date of this opinion, of an officer of the Corporation (the “Officer’s Certificate”), a copy of which we have delivered to you.

ASSUMPTIONS

Authenticity. We have assumed:

the legal capacity of all individuals signing documents,

the genuineness of all signatures,

the authenticity and completeness of all documents submitted to us as originals,

the conformity to authentic original documents of all documents submitted to us as copies, and

the continuing accuracy of the Certificate of Compliance as of the date of this opinion, as if issued on that date.

Public records. We have assumed the completeness, accuracy, and currency of:

the indices and filing systems maintained at the public offices where we searched or made inquiries,

all documents supplied or otherwise conveyed to us by public officials, and

all facts set out in those documents and in official public records.

Enforceability. We have assumed:

the due authorization, execution, and delivery of the Transaction Documents by all parties thereto, other than the Corporation;

the due execution and delivery of the Transaction Documents by the Corporation to the extent such matters are not governed by the laws of the Jurisdiction (defined below); and

that each of the Transaction Documents constitutes a legal, valid, and binding obligation of each of the parties thereto, enforceable against each such party in accordance with its terms.

Securities law matters. We have assumed that:

no order, ruling, or decision of any court or regulatory or administrative body is in effect at any material time that restricts any trades in securities of Hecla or that affects any person or company (including Hecla or any of its affiliates) that engages in such trade; and

the Registration Statement, as amended by the Post-Effective Date Amendment, is effective under the Securities Act and such effectiveness has not been terminated or rescinded.

RELIANCE

Status. In expressing the opinion in section 6(a), we have relied and our opinion is based solely upon the Certificate of Compliance and the Officer’s Certificate.

Matters of fact in the Officer’s Certificate. We have relied solely upon the Officer’s Certificate as to the matters of fact set out in that certificate, without independently verifying those facts.

LAWS ADDRESSED

OPINIONS

Status. The Corporation is a corporation continued and existing under the CBCA.

Power and capacity. The Corporation has the corporate power and capacity to carry on business, to own properties and assets, and to execute, deliver, and perform its obligations under the Transaction Documents to which it is a party and to carry out the transactions contemplated under the Transaction Documents to which it is a party.

Authorization. The Corporation has taken all necessary corporate action to authorize its execution and delivery of, and the performance of its obligations under, the Transaction Documents to which it is a party.

Execution and delivery. The Corporation has, to the extent that execution and delivery are governed by the laws of the Jurisdiction, duly executed and delivered the Transaction Documents to which it is a party.

No breach. The execution, delivery, and performance by the Corporation of its obligations under each Transaction Document to which it is a party do not and will not breach or result in a default under:

its articles and by-laws, or any unanimous shareholders agreement, or

any law, statute, rule, or regulation to which it is subject.

No regulatory approval required – Corporation. No authorization, consent, permit, or approval of, other action by, filing with, or notice to, any governmental agency or authority, regulatory body, court, tribunal, or other similar entity having jurisdiction is required in connection with the execution and delivery by the Corporation of the Transaction Documents to which it is a party and the consummation of the transactions contemplated thereby, other than the filing of a Form 45-106F1 Report of Exempt Distribution with the relevant Canadian Securities Commissions within ten days of the completion of any sale of Notes to purchasers in Canada.

No regulatory approval required – Hecla. The offering, issuance, and sale of the Notes by Hecla does not contravene, constitute a default under, or result in a breach or violation of any law, statute, rule, or regulation to which it is subject.

USE OF OPINION