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[Hecla Logo]                                                          Exhibit 99
                                                                         2001-16
     NEWS RELEASE



                 HECLA COMPLETES $5.5 MILLION PRIVATE PLACEMENT

                              FOR IMMEDIATE RELEASE
                                 August 28, 2001

     COEUR D'ALENE, IDAHO - Hecla Mining Company (HL & HL-PrB:NYSE) today
announced that a private placement of 5.7 million shares with its pension plans
for $5.5 million has been completed. The privately placed shares are restricted
from trading for one year without registration.
     Hecla's pension plans, with assets of more than $55 million, surpass the
projected obligations by more than $18 million, as of June 30, 2001.  An
independent fiduciary consultant determined that the private placement was an
appropriate investment for the plans. Hecla Chairman and Chief Executive Officer
Arthur Brown said, "As the precious metals price cycle changes in our favor, as
we believe it must, this investment by Hecla's pension funds has tremendous
upside potential to increase the fund value even more."
     According to Brown, Hecla's plan is to continue to cut costs at both the
corporate and operational levels while building up sufficient cash and financial
stability to invest in new low-cost projects and properties. Brown said, "The
transaction strengthens our balance sheet, gives us financing to look at future
opportunities and provides cash to move the company forward. This private
placement is a step in the right direction for Hecla, as was our recent
agreement in principle with the U.S. government to cap the majority of our
environmental expenditures."
     Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines and
processes silver and gold in the United States, Venezuela and Mexico. Precious
metals production for Hecla during 2001 is expected to be just under 8 million
ounces of silver and approximately 160,000 ounces of gold. A 110-year-old
company, Hecla has long been well known in the mining world and financial
markets as a primary silver producer. Hecla's common and preferred shares are
traded on the New York Stock Exchange under the symbols HL and HL-PrB.
     Statements made which are not historical facts, such as anticipated
payments, production, sales of assets, exploration results and plans, costs,
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



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limited to, metals price volatility, volatility of metals production, project
development risks and ability to raise financing. Refer to the company's Form
10-Q and 10-K 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.

  Contact:  Vicki J. Veltkamp, vice president - investor and public relations,
                                  208/769-4144
     Hecla's Home Page can be accessed on the Internet at: http://www.hecla-
                                   mining.com