Document:

Employment Agreement  

        This
Agreement is made effective on the 1st day of July, 2005, between Coeur d’Alene Mines
Corporation (“Company”), and Donald Birak (“Employee”). 

WITNESSETH: 

        In
consideration of the mutual promises and covenants herein contained to be kept and
performed by the parties hereto, the parties agree as follows: 

     1.    
          Employment. The Company agrees to, and hereby does, employ Employee as
          Sr. Vice President Exploration and Employee accepts such employment, on the
          terms and conditions of this Agreement. 

     2.    
          Term Of Employment. The initial term of this Agreement shall be from July
          1, 2005 through June 30, 2007, unless sooner terminated as herein provided. It
          is further agreed that this Agreement may be considered for a one year extension
          during the month of June, 2006, to the end that the parties may be once again
          bound to a two year duration of this Agreement. It is understood, however, that
          termination can occur in accordance with the provisions of paragraph 7 below,
          notwithstanding anything to the contrary in this paragraph 2. 

     3.    
          Compensation. The Company shall pay to Employee during the duration of
          the term of this Agreement as follows: 

         (a)       
          A base salary of $215,000 annually, payable in equal monthly installments, which
          may be reviewed annually during any Agreement year, but which may not be
          decreased, and any higher salary to become the base salary for the purposes of
          this provision, it being understood, however, that failure to increase the
          salary shall not be grounds for termination of this Agreement; 

         (b)       
          Such other compensation and benefits that may be made available by the Company
          in the discretion of the Board of Directors, consisting of bonuses, short-term
          and long-term incentive plans, pension plan, retirement plan, profit sharing
          plan, stock purchase plan and any other kind or type of incentive programs
          approved by the Board. It is understood that Employee shall be a participant in
          all compensation and benefit programs, both pension and welfare benefit plans,
          which exist for the executive staff of the Company; 

         (c)       
          Employee shall be entitled to earn an annual incentive bonus during each
          calendar year of this Agreement payable in cash pursuant to the Company’s
          Annual Incentive Plan (AIP) equal to no less than 40% of Employee’s then
          current annual salary, which, at the date of this Agreement, is the potential
          sum of $86,000 and a maximum of $172,000. In addition, Employee shall be
          entitled to earn a long-term incentive bonus, payable in cash and/or stock,
          stock options or other compensation under the Company’s Long Term Incentive
          Plan (LTIP) with a target level of 75% or a potential $161,250. Such bonuses are
          at the discretion of the board of directors; and 

         (d)       
          Employee will be eligible for a cash vehicle allowance to be paid by the Company
          monthly commencing with the month of July 2005. 

     4.    
          Duties. Employee, during the term of this Agreement, shall perform the
          duties usually and customarily associated with the office specified in paragraph
          (1) above and as assigned to Employee from time-to-time by the Chief Executive
          Officer of the Company. As a part of Employee’s duties it is agreed that
          Employee will become familiar with and comply with Employee’s duties under
          the Sarbanes-Oxley laws and under the Company’s corporate governance
          policies, and Employee will promptly execute the necessary public filings and
          certify the contents of such documents on the date of their filing. 

        Employee
shall devote Employee’s best efforts and substantially all of Employee’s time
during business hours to advance the interests of the Company. Employee shall not engage
in business activity in competition with the Company. 

     5.    
          Vacation. Employee shall be entitled to four (4) weeks of vacation during
          each contract year of this Agreement commencing with the year 2005-2006, during
          which the compensation provided in this Agreement shall be paid in full. 

     6.    
          Disability. In the event Employee becomes disabled (inability or
          incapacity due to physical or mental illness or injury to perform
          Employee’s duties) during the term of this Agreement, which renders
          Employee unable to perform Employee’s duties, Employee shall be entitled to
          participate in the Company’s disability payment plan in effect at the time
          of the disability. 

     7.    
          Termination Of Employment. This Agreement shall be terminated as follows: 

         (a)       
          In accordance with paragraph 2 above upon the expiration of the term of this
          Agreement or any extension thereof; 

         (b)       
          Upon the death of Employee; 

         (c)       
          By mutual agreement of the parties; 

         (d)       
          Upon disability of Employee, when such disability renders Employee unable to
          perform Employee’s duties for more than 90 continuous days; 

         (e)       
          By the Company without giving any reason for termination, but with the
          understanding that the compensation provided herein, except for participation in
          the 401K & Defined Contribution Plan; and the life insurance, accidental
          death and dismemberment and disability insurance benefits (the “Excluded
          Benefits”), but including the base compensation, vehicle allowance, target
          annual incentive bonus and the long term incentive bonus if Employee is so
          entitled (it being understood, however, as to the incentive plans the Plan
          documents control the Employee’s rights) (“Included Benefits”),
          shall be paid or provided in full to Employee in accordance with this Agreement,
          for the period of the remaining duration of this Agreement. It is agreed that
          the Company may set-off against the compensation and Included Benefits due to
          Employee under this subparagraph any items of like compensation which Employee
          receives from other employment after the date of termination, there being no
          affirmative obligation for Employee to obtain other employment following
          termination; 

2 

         (f)       
          By the Company “For Cause”. For purposes of this Agreement, any
          of the following constitutes For Cause termination: 

	 	(i)  	failure
to perform Employee’s duties, as defined below, after having
                    received from the Company written documentation that Employee’s
duties are                     not being performed, which written documentation shall
specify how performance                     is deficient, and Employee then fails to
resume satisfactory performance                     promptly after receipt of such
documentation and failure of performance is not                     satisfactorily
rectified, or  

	 	(ii)  	a
serious and substantial failure to perform Employee’s duties, which
                    failure is so obvious and so harmful to Company that written
documentation and                     an opportunity to rectify conduct need not be
afforded by Company to Employee,                     or  

	 	(iii)  	a
conviction of, or plea of nolo contendere to, a felony, or engagement
                    in illegal conduct which may not constitute a felony but which is
injurious to                     the Company, in either such case Company need not allow
Employee to rectify                     nonperformance, or  

	 	(iv)  	a
material breach of Employee’s obligations under the “Confidentiality
                    Agreement’ as described in section 8 herein.  

        For
purposes of this provision, Failure To Perform duties in section (f)(i) above includes,
but is not limited to; misfeasance or nonfeasance of duty which was intended to, or does
in fact, injure the Company’s reputation or its business or relationships; willful
and continued failure of Employee to substantially perform his duties under this Agreement
(except by reason of physical or mental disability, which is dealt with in paragraph 7(d)
above); personal dishonesty in the performance of Employee’s duties; and/or material
breach by Employee of the covenants contained in paragraph 4 above; 

         (g)       
          Upon change in control of Company, as “Change in Control” is
          defined in the so-called Change in Control Agreement between Company and
          Employee, a copy of which is attached hereto as Attachment A, and which will be
          executed by the parties hereto when this Agreement is executed by them. In the
          event of termination for this reason, Employee’s and Company’s rights
          with respect to compensation and all other matters related to employment shall
          be as specified in the Change in Control agreement, and not this Agreement; and 

3 

         (h)       
          Upon the insolvency or dissolution of the Company or the cessation of business
          or operations; and 

         (i)       
          By Employee for “Good Reason”. For purposes of this Agreement,
          Good Reason is defined to mean any of the following; 

	 	(i)  	a
material reduction in Employee’s responsibilities, authorities or duties
                    compared to those in existence on the effective date of this
Agreement which is                     evidence of the duties contemplated by paragraph
4; or  

	 	(ii)  	failure
of the Company to pay to Employee any amount otherwise vested and due
                    under this Agreement or under any plan or policy of the Company,  

	 	
which
failure in either (i) or (ii) above is not cured within five days from receipt by the
Company of written notice from Employee which specifies the details of the failure. 

        In
the event of termination of this Agreement for any of the reasons specified above other
than item (e) regarding termination by the Company without giving any reason, Employee
shall be entitled to be paid his base salary prorated for the calendar year to the date of
termination. All other benefits, if any, following such termination shall be paid in
accordance with the plans, policies and practices of the Company which are in effect on
the date of termination. As to termination in accordance with item (e) above, Employee
shall be paid in accordance with that subparagraph. 

     8.    
          Confidentiality. Employee agrees to keep information acquired in
          connection with Employee’s employment confidential, in accordance with the
          Confidentiality Agreement which is attached to this Agreement, marked Attachment
          B, to be executed by Employee when this Agreement is executed. With respect to
          confidentiality, Attachment B controls the rights, duties and obligations of the
          parties, rather than this paragraph 8. 

     9.    
          Specific Performance. Employee understands that the obligations
          undertaken by Employee as set forth in this Agreement are unique, and that
          Company will likely have no adequate remedy at law in the event such obligations
          are breached. Employee therefore confirms that Company has the right to seek
          specific performance if Company feels such remedy is essential to protect the
          rights of Company. Accordingly, in addition to any other remedies which Company
          might have in law or equity, it shall have the right to have all obligations
          specifically performed, and to obtain injunctive relief, preliminary or
          otherwise, to secure performance. Employee agrees that the arbitration provision
          below will not be used to assert dismissal of an action in court for injunctive
          relief, and agrees that the availability of arbitration is not intended by the
          parties to prevent Company from seeking specific performance and injunctive
          relief. 

     10.    
          Arbitration. The Company and Employee will attempt to resolve any
          disputes under this Agreement by negotiation. If any matter is not thereby
          resolved, within 30 days after written notice by either party to the other, any
          dispute or disagreement arising out of or relating to this Agreement, or the
          breach of it, will be subject to exclusive, final and binding arbitration before
          one arbitrator to be conducted in Coeur d’Alene, Idaho in accordance with
          the Uniform Arbitration Act of the State of Idaho and the applicable laws of the
          State of Idaho governing arbitration of disputes. The parties to this Agreement
          specifically acknowledge that any such dispute under this Agreement, even though
          this Agreement is between an employer and an employee, is subject to said Act.
          Each party hereby submits to the exclusive jurisdiction of the state courts in
          Kootenai County, Idaho if it is necessary to proceed in court to enforce this
          paragraph 10. 

4

     11.    
          Other Items. The parties also agree: 

         (a)       
          This Agreement shall not be amended or modified in any way unless the amendment
          or modification is in writing, signed by the parties. There shall be no oral
          modification of this Agreement. 

         (b)       
          No provision of this Agreement shall be waived by conduct of the parties or in
          any other way. 

         (c)       
          This Agreement and its validity, interpretation, construction and performance
          shall be governed by the laws of the State of Idaho. 

         (d)       
          Employee acknowledges that he received upon execution of this Agreement a copy
          of the Company’s Insider Trading Policy, Attachment C. 

IN WITNESS WHEREOF, the parties have
executed this Agreement as of the day and year first written above. 

Coeur d’Alene Mines
Corporation 

By _____________________________ 

________________________________

   Employee-Donald Birak

5 

EXHIBIT A: 

Change in Control Agreement

CHANGE IN CONTROL
AGREEMENT 

        THIS
AGREEMENT, dated as of July, 1, 2005, is made and entered into between Coeur d’
Alene Mines Corporation (the “Company”) and Donald Birak (the
“Executive”) and is made in light of the following circumstances: 

         A.       
          The Company recognizes the valuable services that the Executive will render and
          desires to be assured that the Executive will continue his active participation
          in the management and business of the Company; and 

         B.       
          The Company considers the establishment and maintenance of a sound and vital
          management to be essential to protecting and enhancing the best interests of the
          Company and its shareholders, and the Company recognizes the existence and
          continued likely existence of possible change in control of the Company, as
          defined below, causing uncertainty among management and resulting in the
          possible departure or distraction of members of management to the detriment of
          the Company and its shareholders; and 

         C.       
          The Executive is willing to serve the Company, but desires assurance that in the
          event of any such change in control of the Company, he will be protected against
          the financial impact of an unexpected termination. 

        NOW,
THEREFORE, the Company agrees that the severance benefits described below will be
provided, subject to the terms and conditions set forth below, to the Executive in the
event the employment of the Executive with the Company or its subsidiaries is terminated
subsequent to a change in control of the Company, as defined below, under the
circumstances described below: 

1.     Company’s
Right to Terminate. During the Term of Agreement, as                defined below,
the Executive agrees, so long as he continues to be employed as                an officer
of the Company or any of its subsidiaries, to continue to perform his
               regular duties as such officer of the Company in accordance with the
Employment                Agreement dated as of July 1, 2005. Notwithstanding the
foregoing, the Company                may terminate the employment of the Executive at
any time, subject to providing                the benefits hereinafter specified in
accordance with the terms hereto and                subject to all terms and conditions
of the Employment Agreement of July 1, 2005.  

2.     Effective
Date. The “Effective Date” shall be the date of this
               Agreement as above set forth.  

3.     Term
of Agreement. This Agreement shall have a termination date which is
               identical to the Employment Agreement and shall continue from day-to-day
until                terminated in accordance with the termination provisions of the
Employment                Agreement, unless a change in control of the Company, as
defined below, shall                have occurred prior to that date, in which event it
shall continue in effect                during the two (2) year period immediately
following such change in control as                provided herein.  

A-1 

4.     Change
in Control. No benefits shall be payable hereunder unless there                shall
have occurred a Change in Control of the Company, as defined below,
               and the employment of the Executive by the Company shall have been
thereafter                terminated in the manner described in Section 5 hereof. For
purpose of this                Agreement, a Change in Control of the Company (“Change
in                Control”) shall mean and be determined to have occurred in the
following                instances:  

          	 	(i) 	
               any organization, group or person (“Person”) (as such term is used in
               Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended)(the
               “Exchange Act”) is or becomes the beneficial owner (as defined in Rule
               13d-3 under the Exchange Act), directly or indirectly, of securities of the
               Company representing 35% or more of the combined voting power of the then
               outstanding securities of the Company; or 

               

          	 	(ii) 	
               during any two-year period, a majority of the members of the Board serving at
               the Effective Date of this Agreement is replaced by directors who are not
               nominated and approved by the Board; or 

               

          	 	(iii) 	
               a majority of the members of the Board is represented by, appointed by or
               affiliated with any Person whom the Board has determined is seeking to effect a
               Change in Control of the Company; or 

               

          	 	(iv) 	
               the Company shall be combined with or acquired by another company and the Board
               shall have determined, either before such event or thereafter, by resolution,
               that a Change in Control will or has occurred. 

               

     5.    
          Termination Following Change in Control. If a Change in Control shall
          have occurred, the Executive shall be entitled to the benefits provided in
          Section 6 hereof upon the subsequent involuntary termination, whether actual or
          constructive, as defined below, of the employment of the Executive within the
          two (2) year period immediately following such Change in Control, for any reason
          other than termination for cause, disability, death, normal retirement or early
          retirement. For the purposes of this section: 

    (a)       “Constructive
Involuntary Termination” shall mean voluntary                     termination of
employment by the Executive as a result of a significant change                     in
the duties, responsibilities, reporting relationship, job description,
                    compensation, perquisites, office or location of employment of
Executive without                     the written consent of the Executive.  

    (b)       “Cause” shall
mean termination of employment on account of (i)                     fraud,
misrepresentation, theft or embezzlement, (ii) intentional violation of
                    laws involving moral turpitude or which is materially injurious to
the Company,                     (iii) willful and continued failure by the Executive
substantially to perform                     his or her duties with the Company or its
subsidiaries (other than failure                     resulting from the Executive’s
incapacity due to physical or mental                     illness), after a demand for
substantial performance is delivered to the                     Executive by the
President or the Chairman of the Board of the Company, which                     demand
specifically identifies the manner in which the Executive has not
                    substantially performed his or her duties.  

A-2 

    (c)       “Disability” shall
mean inability or incapacity, due to                     physical or mental illness, of
the Executive to perform his or her duties with                     the company for a
period of three continuous months.  

        Any
termination of the employment of the Executive by the Company shall be communicated by a
written notice of termination addressed to the Executive and any termination of the
employment of the Executive by the Executive, except by death, shall be communicated by a
written notice of termination addressed to the President or Chairman of the Board of the
Company. The notice of termination shall specify the date of termination (“Date of
Termination”) and the characterization of the termination. 

     6.    
          Benefits Upon Termination. If the Executive’s employment by the
          Company shall be terminated as provided in Section 5 hereof, other than for
          cause, disability or death, the Executive shall be entitled to the benefits
          provided below: 

    (a)       Base
Salary and Bonuses. The Company shall continue to compensate the
                    Executive at his or her full annual base salary at the rate in effect
                    immediately prior to the termination of the employment of the
Executive, and to                     pay short-term and long-term bonuses at target
levels pursuant to the                     Company’s then current Long-Term
Incentive Plan, for the period of two (2)                     years following actual
involuntary termination or Constructive Involuntary                     Termination, if
such termination occurs during the period in which this                     Agreement is
in effect (the “Salary Continuance Period”). Benefits                     paid
in accordance with this Subsection 6(a) shall not be reduced in the event
                    the Executive is employed elsewhere during this time period, or by
reason of                     death or disability.  

    (b)       Medical
and Dental Benefits; Long-term Disability Benefits. The Company
                    shall maintain in full force and effect from the Date of Termination
through the                     end of the Salary Continuance Period, all medical and
dental benefits and all                     long term disability benefits in which the
Executive was entitled to participate                     immediately prior to the Date
of Termination, to the same extent as if the                     Executive had continued
to be an employee of the Company during the Salary                     Continuance
Period, provided that such continued participation is feasible under
                    the general terms and provisions of such plans and programs. To the
extent such                     continued participation is not feasible, the Company
shall arrange to provide                     the Executive with substantially the same
benefits as those to which he or she                     would have been entitled to
receive under such plans and programs. All such                     medical and dental
benefits shall be subject to the group health plan                     continuation
coverage requirements as provided in Section 162(d) of the Internal
                    Revenue Code of 1986, as amended (The “Code”). All such
medical and                     dental benefits shall be discontinued upon employment by
the Executive with                     another company and the commencement of coverage
of the Executive pursuant to a                     long-term disability plan of such new
employer.  

A-3 

    (c)       Stock
Options. In the event of a Change in Control, all outstanding
                    stock options, stock appreciation rights, restricted stock,
performance plan                     awards and performance shares granted by the Company
to the Executive under the                     Company’s Long-Term Incentive Plan
shall become immediately exercisable in                     full and otherwise vest 100%
in accordance with the subject to the provisions                     under Section 13 of
such Long-Term Performance Plan.  

    (d)       Retirement
Benefits.  

	 	(1)  	Defined
Contribution Plans. The Company shall not use the provisions of
                    any defined contribution plan to deny a lump sum option to the
Executive unless                     this occurs under uniform treatment applicable to
all plan participants.  

	 	(2)  	Defined
Benefit Plan. The Executive shall be entitled to continued                     credit
for years of service under the defined benefit plan of the Company from
                    the date of Termination through the Salary Continuance Period, and
any                     compensation paid to the Executive pursuant to subsection 6(a)
above shall be                     treated as salary compensation for purposes of such
plan. To the extent that                     such augmentation of the defined benefit
plan is not possible under such plan,                     the Company shall pay the
Executive an amount equal to the present value of such                     augmentation,
or arrange to provide the Executive with substantially the same
                    benefit.  

    (e)       Certain
Executive Reimbursement. The Company shall pay the Executive an
                    amount necessary to reimburse the Executive for all legal fees and
expenses                     incurred by the Executive as a result of the Change in
Control of the company                     and such termination of employment, including
any fees and expenses incurred in                     contesting or disputing any such
termination or in seeking to obtain or enforce                     any right or benefit
provided by this Agreement; provided, however, that the                     Company shall
be obliged only to pay amounts necessary to reimburse the                     Executive
for legal fees and expense incurred by the Executive with respect to
                    any claim or claims made by him as to which he shall substantially
prevail in                     litigation relating thereto against the Company.  

        The
payment provided for in subsection 6(a) hereof shall be subject to applicable payroll or
other tax required to be withheld by the Company. Payments to the Executive hereunder
shall be considered severance pay in consideration of past service and his or her
continued service after the date of this Agreement. The payment provided for in subsection
6(d)(1) hereof shall be made to the Executive within five (5) business days after the Date
of Termination. The Executive shall not be required to mitigate the amount of any payment
provided for in this Section 6 by seeking other employment or otherwise, and expect as
provided in subsection 6(b) above, the amount of any payment provided for in this Section
6 shall not be reduced by any compensation earned by the Executive as a result of
employment by another employer after the Date of Termination, or otherwise. 

     7.    
          Limitation on Payments. If the severance payments provided for under this
          Agreement, either alone or together with other payments which the Executive
          would have the right to receive from the Company, would constitute a
          “parachute payment,” as defined in Section 280G(a) of the Code as in
          effect at the time of payment, such payment shall be reduced to the largest
          amount as will result in no portion being subject to the excise tax imposed by
          Section 4999 of the Code or the disallowance of a deduction by Company pursuant
          to Section 280G of the Code. The determination of the amount of any reduction
          under this section, and the plan and payment to which such reductions shall
          apply, shall be made in good faith by the Executive and such determination shall
          be binding on the Company. 

A-4 

     8.    
          Successor; Binding Agreement. 

    (a)       The
Company will require any successor (whether direct or indirect) by purchase,
          merger, consolidation or otherwise, to all or substantially all of the business
          or assets of the Company by agreement in form and substance satisfactory to the
          Executive, to expressly assume and agree to perform this Agreement in the same
          manner and to the same extent that the Company would be required to perform it
          if no such succession had taken place.  

    (b)       This
Agreement shall inure to the benefit of and be enforceable by the personal           or
legal representatives, executors, administrators, successors, heirs,
          distributees, devisees and legatees of the Executive. If the Executive should
          die while any amount would be payable to the Executive hereunder if the
          Executive had continued to live, all such amounts, unless otherwise provided
          herein, shall be paid in accordance with the terms of this Agreement to the
          devisee, legatee or other designee or, if there be no such designee, to the
          estate of the Executive.  

     9.    
          Notices. For the purposes of this Agreement, notices and all other
          communications provided for in the Agreement shall be in writing and shall be
          deemed to have been duly given when delivered or mailed by certified or
          registered mail, return receipt requested, postage prepaid, addressed: 

		
	if to the Company:	Chairman and Chief Executive Officer
	 	Coeur d' Alene Mines Corporation
	 	505 Front Avenue
	 	Coeur d' Alene, ID 83814
	 	 
	if to the Executive:	Donald Birak

or to such other address as either
party may have furnished to the other in writing in accordance herewith except the notice
of change of address shall be effective only upon receipt. 

     10.    
          Miscellaneous. No provisions of this Agreement may be modified, waived or
          discharged unless such waiver, modification or discharge is agreed to in writing
          signed by the Executive and on behalf of the Company by the President, the
          chairman of the Board or such other officer as may be specifically designated by
          the Board. No waiver by either party there of, or compliance with, any condition
          or provision of this Agreement to be performed by such other party shall be
          deemed a waiver of similar or dissimilar provisions or conditions at the time or
          at any prior to subsequent time. No agreements or representations, oral or
          otherwise, express or implied, with respect to the subject matter hereof have
          been made by either party which are not expressly set forth in this Agreement.
          This Agreement shall not supersede or in any way limit the rights, duties or
          obligations the Executive may have under any other written agreement with the
          Company. The validity, interpretation, construction and performance of this
          Agreement shall be governed by the laws of the State of Idaho. 

A-5 

     11.    
          Severability. The invalidity or unenforceability of any provisions of
          this Agreement shall not affect the validity or enforceability of any other
          provision of this Agreement, which shall remain in full force and effect. 

     12.    
          Arbitration. Any dispute or controversy arising under or in connection
          with this Agreement shall be settled exclusively by arbitration in Coeur d’
          Alene, Idaho in accordance with the rules of the American Arbitration
          Association then in effect. Judgment may be entered on the arbitrator’s
          award in any court having jurisdiction. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year
first-above written. 

		
	THE COMPANY	COEUR D' ALENE MINES CORPORATION
	  	  
	  	  
	  	  
	  	________________________________
	 	Dennis E. Wheeler
	 	Chairman & CEO
	 	 
	 	 
	THE EXECUTIVE	_________________________________
	 	 
	 	 
	 	Title: _____________________________

A-6 

EXHIBIT B:

Confidentiality Agreement 

B-1 

EXHIBIT C:

Insider Trading Policy 

C-1Execution Copy	AMENDED MINING LEASE

        THIS
AMENDED MINING LEASE is entered into effective as of the 5th day of August, 2005, between
Hyak Mining Company, Inc., an Alaskan corporation (“Lessor”), and Coeur Alaska,
Inc., a Delaware corporation (“Coeur”). 

RECITALS

        Whereas,
Hyak, as Lessor engaged in a mining lease agreement dated May 20, 1987 with Curator
American, Inc. as Lessee, who later assigned its rights to Coeur Alaska, Inc. (the
“1987 Mining Lease”); and 

        Whereas,
Curator American, Inc. subsequently assigned all its rights and obligations pursuant to
the  1987 Mining Lease to
Coeur; and 

        Whereas,
Coeur and Hyak desire to amend the mining lease relating to the same or similar
properties, as further defined herein, as described in the 1987 Mining Lease, wherein Hyak
shall be Lessor and Coeur shall be Lessee, and all terms and conditions of the 1987 Hyak
Mining Lease are replaced by the amended terms and conditions set forth herein. 

NOW THEREFORE, THE
PARTIES AGREE TO AMEND AS FOLLOWS: 

        1. GRANT
OF LEASE 

        In consideration
of the royalties to be paid and the promises set forth in this Amended Lease Agreement,
Lessor leases to Coeur the Leased Premises. As used in this Amended Lease, the term
“Leased Premises” shall mean the exploration and mining rights to the real
property located approximately 45 miles north of Juneau, Alaska and known as the Jualin
Mine and described in Exhibits A, B, C and D attached to and by this reference
incorporated into this Agreement, together with all other rights associated with that
property to the extent Lessor possesses the right, title and authority to grant them. 

        2.
TITLE  

        2.1
Lessor’s Warranties. Lessor represents and warrants to Coeur that it is the
owner of the interest, specifically, the reserved mineral and surface rights, as specified
in Exhibits, attached hereto, in the Leased Premises; that the Leased Premises are free
and clear from any liens or encumbrances, except as set specifically forth in Exhibit D;
and that Lessor has not and will not perform any act that will encumber all or any portion
of the Leased Premises. Lessor further represents and warrants that it will (i) use its
best efforts to maintain the Fremming Property as part of the Leased Premises, the
Fremming Property being more particularly described in Exhibit D, and further extend and
secure those rights for so long a time as to not interrupt the grant of lease pursuant to
this Amended Lease Agreement; and (ii) maintain in good standing its ownership in the
Falls-Diana property as further described in Exhibit A. 

        2.2
Title Defects. If title to any of the Leased Premises is defective or less than as
warranted in Section 2.1 of this Lease, Coeur may give Lessor written notice of the
defects. Lessor, at its expense, shall cure or commence to cure such defects within 60
days following its receipt of notice of defects from Coeur. If Lessor fails to cure or to
commence to cure such defects within the 60 days, or if, having timely commenced to cure
the defects, fails to prosecute such curative actions diligently to completion, Coeur may
undertake to cure any such defects or to defend or to initiate litigation to perfect,
defend or cure title to the Leased Premises. Coeur shall have the right to deduct the
reasonable cost of its efforts to defend or cure the title to the Leased Premises from
payments to be made to Lessor pursuant to Article 6 of this Amended Lease. Coeur may at
any time, after providing Lessor with 15 days notice, withdraw from or discontinue any
title litigation or any steps it may have taken to perfect, defend or cure title. Coeur
shall not be liable to Lessor if Coeur is unsuccessful in, withdraws from or discontinues
title litigation or other curative work. Lessor agrees to cooperate fully with Coeur in
any and all steps undertaken by Coeur to remedy title defects. Except for the right of
set—off against payments to be made to Lessor pursuant to Article 6 of this Amended
Lease, Lessor shall have no liability to Coeur for any expenses incurred by Coeur under
this Section 2.2. 

3. TERM OF LEASE 

        The
initial term of this Amended Lease shall be fifteen (15) years from the date of execution
of this Amended Lease and continue so long thereafter as either (i) minerals are being
commercially mined, processed or marketed from the Leased Premises on a continuous basis
or, in the alternative (ii) Advance Minimum Royalties are being paid by Coeur, unless
sooner terminated under any of the provisions contained in this Agreement. The term of
this Amended Lease shall be automatically extended to the second term beginning August 5,
2020, and ending on August 5, 2035, upon payment of the 2009 Prepayment of Royalties due
on the anniversary date of this Amended Lease Agreement, as set forth in Section 6.1
below. 

-2- 

        This
Amended Lease Agreement shall also be automatically extended beyond the termination date
of the second term, beyond August 5, 2035, if Coeur is actively engaged in mining and
production from the Leased Premises. This additional extension shall terminate upon the
cessation of mining and production from the Leased Premises for more than 30 continuous
days other than a delay due to a force majeure. 

4. POSSESSION AND CONTROL
OF PROPERTY 

        4.1
Possession and Control. Coeur shall have the exclusive right and privilege to enter
upon the Leased Premises for the purposes of surveying, exploring, prospecting, sampling,
drilling, developing, mining (whether by underground, open pit, solution mining or other
methods now known or hereafter developed), stockpiling, removing, shipping, processing,
marketing or otherwise disposing of minerals, providing that such operations shall include
only those operations that Lessor lawfully may perform on the Leased Premises. To the
extent Lessor possesses the right, title and authority, Lessor also grants to Coeur the
right to construct roads and buildings; to use, maintain, repair, replace and relocate
buildings constructed by it, roads, tailings or other by-products of development,
production or operation; to use and convert so much of the surface of the Leased Premises
as may be reasonably necessary, convenient, suitable for or incidental to any of the
rights and privileges of Coeur under this Amended Lease or otherwise reasonably necessary
to effect the purposes of this Amended Lease; to use easements and all rights-of-way for
ingress and egress to and from the Leased Premises to which Lessor may be entitled; to use
any surface and underground water now existing or subsequently discovered or developed in
or on the Leased premises; to drill and operate water wells; and to exercise all other
rights that are incidental to any or all of the rights granted, expressly or implicitly,
to Coeur in this Amended Lease. 

        4.2
Timber Rights. Notwithstanding the above exclusive possession and control rights
granted to Coeur, Lessor, if it so elects, shall have the right to manage and harvest the
standing timber situated upon the Leased Premises so long as Lessor’s activities do
not conflict in any way with Coeur’s activities and interests. 

-3- 

        4.3
Surface Use by Hyak. Lessor may maintain, repair and construct improvements on the
surface of the Leased Premises so long as Coeur is provided in advance with written
detailed plans and locations of such improvements and use thereof, which approval of such
activities shall be at the sole discretion of Coeur. 

5. OPERATING RIGHTS AND
PROCEDURES 

        5.1
Standard of Performance. Coeur agrees to cause all work to be done in a careful and
minerlike manner and to conform in all respects to applicable governmental rules,
regulations and statutes. Coeur further agrees to reclaim all portions of the surface of
the Leased Premises that are disturbed by Coeur’s operations in accordance with
applicable rules, regulations and statutes, and in conformance to all rights of the owners
of the surface. 

        5.2
Liability. Coeur shall obtain and, at all times during the term of this Amended
Lease, maintain insurance required by law. Coeur shall assume all liability to third
parties and as to its own employees pursuant to workers’ compensation claims, in
connection with its operations on the Leased Premises. If Coeur’s operations on the
Leased Premises cause damage to the surface owner for which Lessor legally is obligated to
the surface owner, Coeur will compensate the surface owner. Except as provided in Section
15.1 of this Amended Lease, Coeur agrees at all times to indemnify and hold harmless
Lessor against any and all claims, suits, actions, debts, damages, costs, charges and
expenses (including court costs and attorneys’ fees), liability, loss and damages
whatsoever that Lessor shall or may at any time sustain or be put to by reason of the
performance or non-performance by Coeur of any of its obligations under this Amended Lease
or in any other manner attributable to the use and occupancy of the Leased Premises by
Coeur. Lessor shall give written notice to Coeur of any act or occurrence involving any
liability or claim, demand or item of costs indemnified against herein promptly after the
existence of any such claim, suit, action, debt, damage or liability shall have to come to
the actual knowledge of Lessor, and promptly shall tender to Coeur the defense of any
suit, action or claim brought by or asserted against Lessor. 

-4- 

        In
addition to the above, Coeur shall at all times during the term of this Amended Lease, or
any renewals or extensions hereof and at its own expense, procure, maintain and keep in
force for both the benefit of Lessor and Coeur general public liability insurance for
claims for personal injury, death or property damage, occurring in or about the Leased
Premises arising out of the actions of Coeur, with limits of not less than $1,000,000 in
respect to death or injury of a single person, and not less than $300,000 in respect to
property damage. Coeur shall additionally maintain all statutory workers’
compensation coverages. 

        5.3
Permits.Lessor understands that Coeur may make efforts to obtain rights, permits,
rezoning and other authorization of every kind and nature whatsoever from governmental or
private entities as may be necessary to explore, mine, handle, store, transport or sell
minerals. While Coeur shall be solely responsible in these efforts, Lessor agrees to
assist upon Coeur’s request and at Coeur’s expense. 

        5.4
Liens. Coeur shall keep the title to the Leased Premises free and clear of all
liens and encumbrances resulting from its operations under this Amended Lease. Coeur may
refuse to pay any claims asserted against it which Coeur disputes in good faith. Coeur may
contest any suit commenced to enforce such a claim, but if the suit is decided against
Coeur, Coeur promptly shall pay the judgment when final. 

        5.5
Taxes. During the term of this Amended Lease, Coeur shall pay when due all lawful
taxes and assessments assessed and levied upon or against the Leased Premises and such
taxes and assessments as are attributable to Coeur’s operations under this Amended
Lease, or upon any property or improvements placed by Coeur on the Leased Premises for its
own use. Lessor shall pay that portion of production and severance taxes levied on or
measured by production attributable, to the royalties payable under Article 6 of this
Amended Lease. Coeur shall have the right in good faith to contest any of the above taxes
and assessments but shall not permit or suffer all or any portion of the Leased Premises,
or any improvements or personal property on the Leased Premises, to be sold for taxes or
assessments. 

        5.6
Subrogation. Coeur at its option shall have the right to redeem for Lessor, by
payment, any mortgage, taxes or other liens on the Leased Premises in the event of default
or non-payment by Lessor. If Coeur pays any such mortgage, taxes or other liens, Coeur
shall be subrogated to the rights of the holder of the mortgage or lien and also shall
have the right to retain and repay itself from any payments that become due Lessor under
Article 6 of this Amended Lease. The retention of such payments by Coeur shall have the
same effect as if paid to the Lessor in whose behalf payment of any mortgage, taxes or
other lien was made. 

-5- 

        5.7
No Implied Covenants. Notwithstanding that Coeur shall maintain certain obligations
and responsibilities pursuant to this Amended Lease Agreement as to work commitments,
Coeur does not make any express or implied covenant, agreement or condition relating to
the exploration or development of the Leased Premises or to the conduct or to the extent
of any mining operations upon, under, through and from the Leased Premises. Whether or not
any such exploration, development, production or mining operations shall at any time be
conducted, and the nature, manner and extent of such operations shall be determined within
the sole discretion of Coeur. 

6. PAYMENTS TO LESSOR 

        6.1
     Lease Acquisition Fee.  Upon execution of the Amended Lease Agreement, Coeur shall
pay to Lessor the sum of Three Million Dollars ($3,000,000) (the "Amended Lease
Acquisition Fee"), and 

        6.2.
Advance
Royalties.  

	 	        (a)           Until
mineral production from the Lease Premises commences, Coeur shall pay
               Lessor advance minimum royalties as follows:  

	 	
(i)                      During
the initial term of this lease, Coeur shall pay to Lessor, as advance
               minimum royalties, the sum of $231,000 on or before May 1 of each calendar
year                of the initial term (the “Advanced Minimum Royalty”). The
annual                Advance Minimum Royalty shall be adjusted in 2009 and every third
year                thereafter during the initial term by the percentage change in the
Consumer                Price Index published by the U. S. Department of Commerce for All
Urban                Consumers, City of Anchorage, Alaska, using the index for the last
quarter of                2005 as the base period for this purpose.  

	 	
(ii)                      On
August 5, 2009, Coeur shall pay to Lessor a lump sum of Three Million Dollars
               ($3,000,000) as advance royalties to secure extension of this Amended
Lease                Agreement for the second term, ending August 5, 2035 (the “2009
               Prepayment”). Additionally, Coeur shall pay to Lessor during the
second                term the annual advance minimum royalties as set forth in Sec. 6.2
(i) above.                Failure to make the lump sum advance royalty payment shall
terminate the lease                on August 5, 2020, unless Coeur shall be actively
engaged in mining and                production from the Lease Premises, in which case
the provisions of Sec. 6.3                shall apply.  

-6- 

	 	        (b)   Recoupment
of Advance Minimum Royalty and 2009 Prepayment. Coeur shall                have the
right to a credit and the recovery of the Advance Minimum Royalties and
               the 2009 Prepayment paid to Lessor against future Production Royalties due
to                Lessor pursuant to Section 6.3 of this Amended Lease until the Advance
Minimum                Royalties and 2009 Prepayment have been recouped. Notwithstanding
the above, the                recoupment of the Advance Minimum Royalties and 2009
Prepayment from the                Production Royalties shall not cause the Production
Royalty to be reduced in any                given year to less than $231,000, as adjusted
in 6.2 above.  

	 	        (c) Waiver
of rights to prior Advance Minimum Royalties. It is expressly                agreed
that any previously accrued Advanced Minimum Royalties due as a credit to
               Coeur pursuant to the 1987 Mining Lease shall be extinguished as of the
date of                this Agreement.  

	 	        (d) Termination
for Failure to Pay. Coeur’s failure to make payments on                the dates
specified in this Section 6 for more than 10 days after the due date                shall
be a default under this Amended Lease Agreement and Lessor shall have the
               right to terminate due to said default. Lessor shall notify Coeur in
writing of                the default and Coeur shall have 30 days after receipt of said
notice to cure                the default. If not cured, Coeur shall vacate the property,
except that Coeur                shall have the right to re-enter the property to perform
reclamation as                required.  

        6.3
Production Royalty. After the commencement of commercial production, Coeur shall
pay Lessor either (a) a production royalty of five percent of “Net Returns” (as
defined below) from all ores, minerals, or other products mined and removed from the
Leased Premises and processed or sold by Coeur (the “Production Royalty”) or (b)
$231,000 (as adjusted under 6.2 above) whichever is the greater. As used in this Amended
Lease, the term “Net Returns” shall mean the amount actually received by Coeur
from the smelter or other purchaser of the ores, minerals or other products produced
directly out of the Leased Premises, and specifically not including ores or other products
arising out of Coeur’s nearby Kensington or other mining operations, after deducting
the following items to the extent borne by Coeur: smelter and treatment charges or costs,
and charges for transportation from the mine to the smelter or other purchaser. 

-7- 

        6.4
Payment. Production Royalty payments shall be made on or before the last day of the
month following the month in which settlement for ores, minerals or other products sold is
made. All royalty payments shall be accompanied by a statement indicating the amount of
ores mined from certain claim groups as designated by the Lessor, minerals or other
products sold or processed and the computation of the royalty being paid. 

        6.5
Lesser Interest. If Lessor owns less than the interest, specified in Article 1 of
this Amended Lease and in Exhibit A, in the minerals in and underlying the Leased
Premises, then all payments that become due Lessor under Article 6 of this Amended Lease
shall be due the Lessor only in the proportion that his actual interest bears to the
entire interest specified in Exhibit A. If at any time or from time to time during the
term of the Amended Lease, Lessor acquires an additional interest in the Leased Premises,
then such additional interest shall be deemed to be subject to the terms of this Amended
Lease. Lessor agrees to notify Coeur in writing promptly upon the acquisition of any
additional interest on the Leased Premises. The notice shall be accompanied by a copy of
the instrument pursuant to which Lessor acquired the additional interest. Payments that
become due to Lessor following Coeur’s receipt of such notice shall he
proportionately increased to reflect the Lessor’s acquisition of an additional
interest in the Leased Premises. 

        6.6
Disputes Regarding Royalties. Lessor shall be deemed to have waived any right he
may have had to object to the payments made by Coeur unless Lessor notifies Coeur in
writing of such objection within one year after receipt of such disputed payment. If
Lessor and Coeur are unable to resolve the dispute by agreement within 30 days after
Coeur’s receipt of Lessor’s notice, the dispute shall be resolved by arbitration
as provided in Section 14.1. 

        6.7
Suspension of Payments. Coeur shall have the right to suspend payments in whole or
in part in the event that any person, firm, or corporation (other than Lessor) provides
reasonably substantial evidence supporting its entitlement to payment of any amount due
and payable under this Amended Lease. Said suspension shall not result in termination of
this Amended Lease and it shall remain in effect until the claims are resolved to
Coeur’s satisfaction. If any person, firm or corporation (other than Lessor) is
entitled to the payment of rentals or royalties in the Leased Premises or production
therefrom, and if Coeur is required to pay same, then Coeur may deduct such payments from
payments that are or become due Lessor under this Amended Lease. 

-8- 

7. ANNUAL WORK PLAN AND
RESULTS SUBMITTAL 

        7.1
During exploration and before commencement of production, Coeur shall perform a minimum
amount of work on the Leased Premises in an amount not less than $500,000 in each of the
calendar years 2005 through 2009 (the “Minimum Work Commitment”). Required
federal and state claim rental fees and work performed under this commitment that may be
qualified for and claimed as assessment work, rental fees and assessment work being
collectively known as “holding costs,” shall be deemed included as part of the
Minimum Work Commitment. Work performed in a sum or sums in excess of the Minimum Work
Commitment may be carried forward in whole or in part to succeeding years in order to meet
the succeeding years’ Minimum Work Commitment requirement. 

        7.2
On or before January 31 of each year during exploration, Coeur shall furnish Lessor with
information that describes the work performed during the immediately preceding calendar
year, the results of such work, including but not limited to, drill hole results, and the
work plan for the succeeding calendar year. 

        7.3
In the event Coeur elects not to fulfill the Minimum Work Commitment in any calendar year
and Coeur has exhausted or has not earned a carry forward from prior years, Coeur shall
pay to Lessor the sum of $500,000 each year that the Minimum Work Commitment is not
fulfilled, less holding costs. If Coeur performs less than $500,000 of work and has failed
or refused to prepare a work plan demonstrating work to be performed in the succeeding
calendar year, Coeur shall pay to Lessor the difference between the Minimum Work
Commitment, less the value of the work actually performed and the holding costs. All
payments shall be made on or before January 31 following the calendar year in which the
Minimum Work Commitment should have been performed. 

        7.4
All geological, geophysical and geochemical information derived from the Leased Premises
will be furnished to Lessor, including but not limited to assay reports, maps, diagrams
and any other documents or records containing information regarding the Leased Premises.
This requirement to furnish information shall not be limited to the period of the Minimum
Work Commitment, but shall apply to all similar information whenever obtained during the
term of this lease and any extension thereof. Such information shall be furnished on or
before January 31 of each calendar year. 

-8- 

        7.5
Information acquired on the Leased Premises shall not be made available to third parties
without Lessor’s consent, unless such information shall be required by any
governmental entity having jurisdiction or shall be required as a public filing. Any
information acquired by Coeur concerning other properties that may be joined with the
Leased Premises to form a larger mining property shall not be made available to Lessor
without the consent of the parties owning or controlling the other properties. However,
nothing in this paragraph shall prevent Coeur from disclosing information regarding the
Leased Premises pursuant to a Confidentiality Agreement to others who may be interested in
the Leased Premises. Upon entering into one or more Confidentiality Agreements, Coeur
shall inform Lessor of the persons or entities who have obtained information pursuant to
such Confidentiality Agreements. 

8. COMMINGLING 

        Coeur
shall have the right to commingle minerals produced from the Leased Premises with minerals
produced from other nearby properties for the purposes of transportation, storage, sale or
other disposition, including, without limitation, processing or conversion to another
product that is sold by Coeur. In that event, Coeur shall perform sufficient monitoring to
determine the quantity and grade of minerals removed and sold from the Leased Premises or
removed from the Leased Premises for the purposes of conversion to another product that is
sold by Coeur, to support an accurate determination of production royalties. 

9. CROSS-MINING RIGHTS
AND ACCESS 

        During
the term of this Amended Lease, Coeur shall have the right, if it so desires and to the
extent but only to the extent Lessor possesses the title and authority under the mineral
reservation described in Article I to grant it, to possess and use all or any part of the
surface or subsurface of the Leased Premises and any or all facilities, tunnels, shafts,
pits, openings, ditches, pipelines, equipment, machinery, and other improvements existing
upon or under the Leased Premises for the purpose of developing, producing, removing,
extracting, mining, storing and transporting minerals, waste, tailings, residues, water
fluids, solutions or materials from any adjoining or nearby property owned, controlled or
operated by Coeur, including but not limited to the Kensington Mine site, and for any
other purposes, including access connected with exploration, development, production, or
reclamation operations on such adjoining or nearby property. In the event that Coeur
receives cash payments for use by a third party of any part of the surface or subsurface;
including but not limited to, roads, tunnels and shafts; Coeur shall retain 100% of the
payment amounts until Coeur has recovered all of its costs, if any, in establishing or
constructing the part or parts of the surface or subsurface being used by the third party.
After Coeur has recovered its costs as described above, any further payments will be
divided as to 75% to Coeur and 25% to Hyak. 

-10- 

10. CAMP FACILITIES 

        Lessor
represents that it is the owner of certain camp facilities and ancillary equipment
situated on the Leased Premises. Coeur shall have full usage rights of the existing camp
facilities and shall have the right, but not the obligation, to upgrade or demolish the
facilities in compliance with local ordinances and laws as it deems appropriate. 

11. TAILINGS AND RESIDUE 

        Subject
to the production royalties provided for in Article 6, all tailings and other residue
resulting from extraction, milling, processing, or other operations upon the Leased
Premises shall be the sole and exclusive property of Coeur so long as the Amended Lease is
in effect. 

12. FORCE MAJEURE 

        Mining
operations shall not be deemed to have terminated or ceased and it shall be deemed that
minerals are being mined and mining operations are being conducted if mining operations
are suspended or are prevented or prohibited by force majeure. The term force majeure
refers to any cause of any kind or nature whatsoever beyond Coeur’s control,
including, but not limited to: (1) law, ordinance, governmental regulations, restraint, or
court order; (2) inability to obtain permits, licenses, or any necessary governmental or
private authorization; (3) scarcity or inability to obtain equipment, material, power or
fuel; (4) labor shortages, labor disturbances, strikes, lockouts, and other industrial
disturbances; (5) failure of carriers to transport or furnish facilities for
transportation; (6) act of God, act of the public enemy, war, blockade, riot,
insurrection, lightning, fire, storm, flood, inclement weather, washout, explosion, unless
such explosion is caused by Coeur’s sole negligence; and (7) breakage of or accident
to machinery or facilities, unless caused by Coeur’s sole negligence. Coeur shall
provide Lessor with written notice of the declaration of force majeure and the reasons
thereof within 15 days after the declaration of force majeure. Coeur shall exercise
reasonable diligence to remove force majeure as quickly as possible but shall not be
required to settle any strikes, lockouts or other labor difficulties against its wishes or
to challenge the validity of any governmental law, regulation, or request. With the
exception of royalty payments due under Article 6 of this Amended Lease, the time for the
performance of obligations under this Amended Lease and the term of this Amended Lease
shall be extended for a period equal to the period or periods of force majeure. 

-11- 

13. DISCONTINUANCE DUE TO
ECONOMIC CAUSES 

        If,
at any time during the term hereof or any extension of that term, mining, processing or
marketing operations are determined by Coeur to be uneconomic, Coeur shall have the right,
from time to time, to discontinue, temporarily, operations hereunder for a cumulative
period not to exceed five (5) years. In each such proposed discontinuance, Coeur shall
notify Lessor of the total period of each such proposed discontinuance and the reasons
therefor. 

14. TERMINATION 

        14.1
By Lessor. At the election of Lessor, the failure of Coeur to make or cause to be
made any of the payments required by this Amended Lease or to keep or perform any
agreement on its part to be kept or performed according to the terms or provisions of this
Amended Lease shall constitute an event of default. Upon an event of default, Lessor shall
give to Coeur written notice of default, specifying the particular default or defaults
relied on by him. Coeur shall have a reasonable time (which in any case shall not be less
than 30 days) after receipt of such notice in which to contest, cure or commence to cure
the alleged default or defaults. If Coeur contests that default occurred, it shall so
advise Lessor in writing within 30 days after receipt of Lessor’s notice Any dispute
arising hereunder, including such as may arise out of a failure to mutually agree, shall
be determined by arbitration under the laws of the State of Alaska in accordance with the
Rules of the Uniform Arbitration Act in the State of Alaska then in force, in accordance
with Section 20.3 herein. 

-12- 

        14.2
By Coeur. Notwithstanding any provisions herein to the contrary, Coeur may at any
time and from time to time terminate and surrender this Amended Lease as to all or part of
the Leased Premises by delivering to Lessor a properly executed release of the property
surrendered. Upon surrender of this Amended Lease, Coeur shall be relieved of all
obligations as to the Leased Premises, except obligations that have accrued prior to
surrender and the obligations to reclaim the surface disturbed by Coeur’s operations
in accordance with applicable laws and regulations. Consistent with the above, the
obligation contained in section 6.1 as to the 2009 Prepayment, if not yet made at the time
of termination by Coeur, is likewise extinquished. 

        14.3
Removal of Equipment. Coeur shall have one year after an event of surrender or
termination of this Amended Lease to remove from the Leased Premises all buildings,
warehouses, equipment and all personal property of every kind and nature erected or placed
in or upon said Leased Premises by it, providing that the right of removal shall not
extend to mine timbers in place unless the Lessor and the surface owner agree. Any such
property not removed within the time provided in this Section 14.3 shall become the sole
property of the surface owner provided that Coeur shall remove all such property from the
Leased Premises that the owner of the surface rights lawfully may require Coeur or Lessor
to remove. 

        14.4
Obligation Upon Termination. Upon termination of this Agreement, pursuant to
Section 14.1 of this Amended Lease, Coeur shall be under no further obligation or
liability under this Agreement from and after the date of termination, except for the
following; (a) Coeur shall perform obligations and satisfy liabilities to Lessor or third
parties, respecting the Leased Premises that have accrued prior to the date of
termination; including, but not limited to, the closing and securing of mine openings in a
safe manner; (b) Coeur shall restore the surface of the Leased Premises pursuant to
Section 14.2 above; and (c) Coeur shall furnish to Lessor all information and data
relating to the quality and quantity of minerals within the Leased Premises derived from
Coeur’s operations under this Amended Lease. 

-13- 

        15.
RECLAMATION. Consistent
with section 14.2 above, Coeur agrees that it           will have, upon termination of
this Amended Lease Agreement at the conclusion of           mining, performed mine
reclamation in accordance with the applicable approved           reclamation plan
associated with the mining and processing activities conducted           upon the Leased
Property. In addition, if termination of this Amended Lease           Agreement occurs
prior to the conclusion of mining activities, Coeur will,           within a reasonable
time thereafter, perform mine reclamation in accordance with           said reclamation
plan, provided that Lessor, through an appropriate written           consent, provides
necessary access to the Property to Coeur to complete its           reclamation
activities.  

        16.
AREA OF INTEREST 

        Both
Coeur and Lessor will be subject to an area of mutual interest covering all lands within
one (1) mile of the Leased Premises, exterior to the claims listed in Schedules, and only
so long as they fall within the Jualin property side of the mining area (the “Area of
Interest”). If Coeur or Lessor acquires by staking any property rights of any nature
whatsoever within the Area of Interest while the Amended Lease is in effect, those
property rights shall be committed to this Amended Lease at the election of the
non-acquiring party, subject to the reimbursement of the acquiring party’s
acquisition cost, except that the location costs of unpatented mining claims located by
Coeur, if committed to the Amended Lease as aforesaid, shall be borne solely by Coeur, but
treated as annual work expenditure costs. 

        Property
rights of any nature whatsoever acquired from a third party within the Area of Interest by
either Coeur or Lessor shall be specifically excluded from inclusion in this Amended
Lease. 

        17.
INSPECTION, RECORDS AND CONFIDENTIALITY 

        17.1
Inspection. Lessor and his agents, duly authorized in writing, may enter upon the
Leased Premises to inspect the same, during normal business hours and at such times and
upon such notice to Coeur as shall not unreasonably hinder or interrupt Coeur’s
operations and activities. Lessor shall enter upon the Leased Premises at his own risk and
expense and shall indemnify Coeur against any loss, damage, claim or demand by reason of
injury to or the presence of Lessor, his agents, representatives, licensees, or guest
arising from such inspection. 

-14- 

        17.2
Records. Coeur will furnish to Lessor, upon request but not less frequently than
semi-annually, all records of drilling, assay reports, maps, weight tickets or other
factual data pertaining to Coeur’s operations on the Leased Premises and the
calculation of royalties under this Amended Lease. Coeur shall not be obligated to furnish
Lessor with access to any interpretive data that deals with geologic concepts or other
internal proprietary matters. Upon request by Lessor within 30 days following expiration
or termination of this Amended Lease, Coeur shall furnish to Lessor all non-interpretive
and non-proprietary factual data, pertaining to the Leased premises and the operations
conducted on the Leased Premises by Coeur. Coeur and Lessor agree to hold a project
meeting in Juneau, Alaska at least once during the Lease year for the purpose of briefing
Lessor on the significant developments concerning the Leased Premises. 

        17.3
Confidentiality. Lessor agrees that during the term of this Amended Lease, he shall
treat specified information acquired under this Amended Lease as confidential and shall
not use the name of Coeur in any document or press release or disclose any such
information he may obtain under this Amended Lease to third parties or to the public
without first having obtained the written approval of Coeur as to the form and content of
any such disclosure or release. Lessor further agrees not to use, sell, give, disclose or
otherwise make available to third parties or to the public at any time any knowledge or
information relating to internal proprietary technique and methods used by Coeur for
purposes of geological interpretation, extraction, mining, processing of minerals or any
other proprietary information of Coeur that Lessor may acquire. 

        18.
ASSIGNMENTS AND TRANSFERS 

        18.1
By Lessor. If, at any time during the term of this Amended Lease, Lessor desires to
sell all or any portion of the Leased Premises or the production royalty as defined in
Section 6.3, Lessor shall deliver to Coeur a written notice of such desire and thereafter
for a period of 30 days will negotiate in good faith with Coeur to determine whether terms
mutually agreeable for the sale of such property to Coeur can be agreed upon by the
parties. After such 30-day period, if an agreement satisfactory to both parties has not
been entered into, Lessor shall be free to negotiate with and sell the Leased Premises or
any part thereof to third parties, providing that no such sale shall be made upon terms
less favorable to Lessor than those offered by Coeur. The foregoing shall not apply to any
transfer, to a family member for estate planning purposes or any other purpose if the
transfer is for less than the fair market value of the Leased Premises being transferred,
or to an affiliate corporation in which Lessor owns a majority interest. All transfers
shall be subject to this Agreement and to all rights of Coeur, its successors and assigns,
under this Agreement in and to the Leased Premises. 

-15- 

        18.2
Divided Ownership. No change or division in ownership of the Leased Premises or
royalties, however accomplished, shall operate to enlarge the obligations or diminish the
rights of Coeur under this Amended Lease. Further, no change or division in the ownership
of the Leased Premises or royalties shall be binding upon Coeur for any purpose until the
person acquiring any interest has furnished Coeur with recordable instrument or
instruments constituting his claim of title from the original Lessor. 

        18.3
By Coeur.  Coeur shall have the right to assign its rights and obligations under
this Amended Lease and its interest in the Leased Premises in whole or in part at any time
under the following terms and conditions: 

	 	a. 	If
to an Affiliate or an entity which is a successor to all or substantially all
          of the business of Coeur through merger, consolidation, reorganization or sale
          of all or substantially all of its assets, without prior written consent of
          Lessor; 

	 	b. 	If
in connection with the financing of its operations under this Amended Lease,
          Coeur may encumber, pledge or assign its rights and obligations for the purpose
          of security, without the prior written consent of Lessor; 

	 	c. 	If
to an entity, which is technically and financially capable of carrying out           the
obligations of Coeur under this Amended Lease, without the prior written
          consent of Lessor. For the purposes of this Section, Coeur shall be deemed to
          have established the capability of such entity to carry out such obligations if
          Coeur produces certified financial statements relating to such entity which
          demonstrate a net worth and substantial expertise in the filed of mining during
          the preceding ten years so as to assure Lessor of such entity’s ability to
          carry out the terms and provision of this Amended Lease Agreement; or 

	 	d. 	If
to any other entity, only with Lessor’s prior written consent, which
          consent shall not be unreasonably withheld. 

-16- 

Coeur shall remain continuously
liable under this Amended Lease after an assignment only in the case of an assignment
under (a) or (b) of this Section of this Amended Lease. In the case of any other
assignment, Coeur shall be relieved of all further obligations and liabilities arising
under this Amended Lease which are incurred or accrue after the effective date of the
assignment, but only to the extent that such obligations and 1iabilities are assumed by
the assignee under the term of said assignment. 

        19.
NOTICES AND PAYMENTS  

        19.1
Payments. All payments provided for in this Amended Lease Agreement may be made by
paying or tendering the same to Lessor’s credit at a depository designated by Lessor
or such other depositories as Lessor may from time to time designate in writing, or its
successors, which shall continue as the depository, regardless of the changes in ownership
of the Leased Premises, for all payments under this Amended Lease, If said bank shall fail
or refuse to accept payments, Coeur shall not be held in default until 60 days after
receipt from Lessor of written notice designating a different depository bank. Upon making
payment to the depository bank, Coeur shall be relieved of any and all responsibility for
the division or distribution of the amount paid to the Lessor or its successors in
interest. 

        19.2
Notices. Any notice required or permitted under this Amended Lease may be served
personally or by certified or registered mail (postage prepaid, return receipt requested)
on the parties at the following addresses: 

		Lessor: 	Hyak Mining Company, Inc.
			1114 Glacier Avenue
			Juneau, Alaska 99801
	
 	Coeur:	Coeur Alaska, Inc.
			Attn: General Manager
			3031 Clinton Drive, Suite 202
			Junuea, Alaska 99801
	
 	Copy to: 	Coeur d' Alene Mines Corporation
			Attn: VP, North American Operations
			505 Front Street, PO Box I
			Coeur d' Alene, ID 83816-3511

-17- 

Notices shall be deemed given upon
delivery or mailing as provided in the preceding sentence. Upon giving notice to a party
to this Amended Lease at the address shown above or such other address as may be
communicated to the parties in writing, the noticing party shall be deemed to have given
notice to the other party or its successors in interest. Either party may change its
address by giving written notice of the change to the other party. 

20. GENERAL 

        20.1
Entire Agreement. This is the entire agreement between the parties. No modification
of this Amended Lease shall be effective unless in writing and executed by the parties to
this Amended Lease. 

        20.2
 Choice of Law.  The Amended Lease shall be governed in all respects by the laws of the
State of Alaska.  

        20.3
Arbitration of Disputes. Any controversy, dispute or claim arising out of or from
this Amended Lease Agreement, or alleged breach thereof, shall be settled by arbitration
pursuant to the Uniform Arbitration Act of the State of Alaska (§§9.43.010
et.seq., Alaska Statutes) as amended and as in effect on the date either party
commences arbitration proceedings. Said Act shall control the substantive and procedural
aspects of the proceedings unless otherwise agreed in this Amended Lease. Judicial review
may be had pursuant to said Act. 

	 	(a) 	Proceedings
shall be initiated by the complaining party serving upon the other           party a
complaint, as would be done in court proceedings. The allegations           regarding the
circumstances giving rise to the issues to be arbitrated shall be           stated in
detail and with particularity. The party upon whom the complaint is           served
shall answer or otherwise respond with a pleading just as is required by           the
Alaska Rules of Civil Procedure for a court action. Except, however, the
          response shall be served upon the initiating party within 30 days from the date
          of service of the complaint. 

	 	(b) 	The
parties shall agree upon an arbitrator, who is neutral, competent and           willing
to serve and, if possible, who has experience in cases involving mining           and
mining contracts. Should the parties fail to reach agreement within 20 days
          from the date proceedings are initiated, either party may apply to the court
for           appointment of an arbitrator who meets the criteria set forth herein
pursuant to           the provisions of the Act. 

-18- 

	 	(c) 	Prehearing
discovery shall not be allowed except upon order of the arbitrator           for good
cause shown, the parties being in agreement that the expense and time
          associated with discovery should be minimized, and that this desire should,
          however, be balanced against the need for each party to be able to effectively
          present its case. 

	 	(d) 	Each
party to the arbitration proceedings shall bear one-half of the           arbitrator’s
fees and expenses, which shall be promptly paid by each party           monthly within 15
days from the submission by the arbitrator to the parties of           his reasonably
detailed and itemized statement for services rendered, which           statement shall be
submitted by the arbitrator at the end of each month. 

	 	(e) 	Each
party shall bear its own attorney’s fees and costs of litigation for           the
proceedings before the arbitrator. This subparagraph (e) is not applicable           to
court proceedings, in which event the parties recognize that applicable law
          shall govern and the matter will be decided by the court. 

        20.4
 Further Documents. The parties further agree to execute all such further documents
and do all such further things as may be necessary to give full effect to the terms of
this Amended Lease including, without limitation, the execution and recording of a
memorandum counterpart of this Amended Lease. 

        20.5
Binding Effect. All of the covenants, conditions and provisions of this Amended
Lease shall run with the land and shall inure to the benefit of and be binding upon the
parties, their respective heirs, executors, administrators, successors and assigns. 

        20.6
United States Currency. All references to dollars in this Amended Lease refer to
United States currency. 

        20.7
Severability. If any provision of this Amended Lease or any application thereof
shall be invalid or unenforceable, the remainder of this Amended Lease and any other
application of such a provision shall not be affected thereby. 

-19- 

        20.8
Amendments of Lease. This Amended Lease Agreement may only be modified or amended
by a document in writing executed by all parties hereto. 

        20.9
Headings. The headings and subheadings used herein are for convenience only and
shall not be deemed to be a part of the Amended Lease for purposes of construction
thereof. 

        20.10
Waiver. The failure of any party to insist upon the strict performance of any
provision of this Amended Lease or to exercise any right, power, or remedy consequent upon
a breach thereof, shall not constitute a waiver of any such provision, breach or
subsequent breach of the same or any other provisions. 

        20.11
 Time. Time is of the essence of this Amended Lease. 

        20.12
Recordation. This Amended Lease Agreement shall not be recorded, but the parties
shall record a memorandum of Lease as permitted by AS 40.17.120. 

        21.
Effect of Amendment  

        This
Amended Lease is intended to be a substitute of all terms and provision of the 1987 Mining
Lease. In the event of a conflict in terms or provisions of the 1987 Mining Lease and this
Amended Lease Agreement, the terms and provisions of this Amended Lease Agreement shall
prevail. 

        IN
WITNESS WHEREOF, the parties have executed this Agreement effective as of the day and year
first above written. 

Signature Page to
Follow  

-20- 

		LESSOR:
		HYAK MINING COMPANY, INC.
	
 	By:___________________________________
		      E. Neil MacKinnon, President

(CORPORATE
ACKNOWLEDGEMENT) 

	STATE OF ALASKA)	 
		: ss
	__________JUDICAL DISTRICT)

        This
is to certify that on this _________ day of August, 2005, personally appeared before me E.
Neil MacKinnon, to me known and known to me to be the individual described in and who
executed the within Mining Lease, and acknowledged that he signed the same as his free and
voluntary act and deed on behalf of the corporation, for the uses and purposes therein
mentioned. 

        GIVEN
UNDER MY HAND and official seal this __________ day of _______________, 2005. 

		_________________________________________
	
 	Notary public for___________________________
	
 	My commission expires:_____________________
	
 	     (SEAL)

-21- 

		LESSEE:
		COEUR ALASKA, INC.
	
 	By:___________________________________
		Dennis Wheeler, President and CEO
	
 	By:___________________________________
		Donald Birak, Sr. VP Exploration

ATTEST: 
________________________________________
Secretary 

(LESSOR ACKNOWLEDGEMENT) 

	STATE OF IDAHO)	: ss
	FIRST JUDICAL DISTRICT)

        This
is to certify that on this ____ day of August, 2005, personally appeared before me Dennis
Wheeler, to me known and known to me to be the individual described in and who executed
the within Mining Lease, and acknowledged that he signed the same as his free and
voluntary act and deed on behalf of the corporation, for the uses and purposes therein
mentioned. 

GIVEN UNDER MY HAND and official seal
this ______ day of __________, 2005. 

		_________________________________________
	
 	Notary public for ___________________________
	
 	My commission expires: _____________________
	
 	     (SEAL)

ATTEST: 
________________________________________
Secretary 

(LESSOR ACKNOWLEDGEMENT) 

	STATE OF IDAHO)	: ss
	FIRST JUDICAL DISTRICT)

        This
is to certify that on this ____ day of August, 2005, personally appeared before me Donald
Birak, to me known and known to me to be the individual described in and who executed the
within Mining Lease, and acknowledged that he signed the same as his free and voluntary
act and deed on behalf of the corporation, for the uses and purposes therein mentioned. 

GIVEN UNDER MY HAND and official seal
this ______ day of __________, 2005. 

		_________________________________________
	
 	Notary public for ___________________________
	
 	My commission expires: _____________________
	
 	     (SEAL)

-22-

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