Hecla Mining Company Feb. 16 reported 175 million ounces of silver in proven and probable reserves, marking the 10th straight year that exploration has resulted in record reserves for the company.

The 1 percent annual increase in silver reserves comes despite the fact that prices used to calculate the reserves were lowered to US$14.50 per ounce silver, down from $17.25/oz. used the year before.

Th...