COEUR d'ALENE - Hecla Mining Company on Thursday reported that as of Dec. 31, silver reserves and resources of 142 million ounces and 248 million ounces respectively, the highest in the company's history.

"We exceeded our goal of replacing ounces mined in 2010 and defining additional reserves and resources," said Phillips S. Baker, Jr., Hecla's President and Chief Executive Officer.

Highlights of a press release include:

* Silver reserves increased slightly to 142 million ounces

* Silver resources increased by 17 percent to 248 million ounces

* Greens Creek's 200 South continued to define high-grade resources contributing 85 percent of the 24 million ounces of new silver resources

* Drilling at the Lucky Friday continued to define strong veining to the east and at depth resulting in an addition of over 17 million ounces of silver resources and conversion of an additional 4 million ounces of silver reserves at the mine

* A new resource was defined at the Noonday project in the Silver Valley

Baker said Hecla has made tremendous progress in its exploration efforts at its four properties at in Alaska, Colorado, Mexico and Idaho.

"We have extended the mine life at Lucky Friday, added a significant number of resources from the 200 South and East zones at Greens Creek, added a new resource at the Noonday project in the Silver Valley and defined new mineralization at both the San Juan and San Sebastian properties," he said. "As a result of last year's drilling success, we are planning a third more exploration funds in 2011."

The exploration budget for Lucky Friday/Silver Valley in 2011 is about $5 million and includes efforts to expand resources from the 4,050 level and initial deeper drilling to the west past the Silver Fault; expanding the Noonday resources along strike; evaluating a number of other vein structures near the past-producing Star Mine; and drilling the Butte/Coeur d'Alene target to the east of the Lucky Friday.