McEwen Exercises Inventus Warrants and Increases Ownership to 12.7%

(TSX:MUX) McEwen Inc. announced that on November 4, 2026, it acquired ownership of 9,200,000 common shares of Inventus Mining Corporation by exercising 9,200,000 common share purchase warrants at an exercise price of CAD$0.12 per share, for a total consideration of CAD$1,104,000. Prior to this warrant exercise, McEwen owned or controlled 20,000,000 common shares of Inventus, representing approximately 9% of Inventus' issued and outstanding shares. Following the exercise, McEwen's ownership increased to 29,200,000 common shares, representing 12.7% of Inventus' issued and outstanding shares. The acquisition was made for investment purposes. McEwen may acquire additional securities of Inventus or dispose of some or all of its holdings depending on market conditions and other factors. McEwen's head office is located in Toronto, Ontario, and Inventus' head office is also in Toronto, Ontario. An Early Warning Report regarding this transaction will be available under Inventus' profile on SEDAR+. McEwen combines growing gold and silver production with a major copper development project and a royalty portfolio across the Americas. McEwen holds a 46.3% interest in McEwen Copper, which owns the Los Azules copper project in San Juan, Argentina. Los Azules is described as a large, long-life, shovel-ready copper project that completed its Feasibility Study and received approval under Argentina’s Large Investment Regime (RIGI) in 2025. McEwen also holds a 1.25% net smelter return royalty on Los Azules and a 27% interest in Paragon Advanced Labs Inc., a publicly listed company deploying PhotonAssay™ technology worldwide. Chairman and Chief Owner Rob McEwen has personally invested over US$293 million in the company and takes a salary of $1 per year.

McEwen Signs US$55 Million Agreement to Sell Fuller and Paymaster

(TSX:MUX) McEwen Inc. and its wholly-owned subsidiaries Lexam VG Gold Inc. and VG Holdings Inc. have entered into a definitive asset purchase and sale agreement with Dome Mine Ltd., a wholly-owned subsidiary of Discovery Mining Ltd., to sell all right, title, and interest in the Fuller property (wholly owned by Lexam), Lexam's 60% interest in the Paymaster property (held in joint venture with Dome), and a surface rights only parcel (wholly owned by VG), all located in Timmins, Ontario, for total consideration of US$55 million. The transaction will monetize non-core assets and provide McEwen with US$55 million of additional capital, which the company plans to invest across its operations and development projects to support its goal of producing 250,000–300,000 gold equivalent ounces annually by 2030 with minimal to no share dilution. Fuller covers approximately 210 hectares and Paymaster approximately 179 hectares. Upon closing, Discovery will acquire McEwen’s full interest in both assets and consolidate 100% ownership of the Paymaster joint venture. The purchase price consists of US$5.0 million payable in cash and US$50.0 million payable in common shares of Discovery Mining Ltd., with the number of shares determined by the five-day volume-weighted average share price on the TSX ending two business days before closing, and the US dollar-denominated share consideration converted into Canadian dollars at the Bank of Canada daily exchange rate. The Discovery shares issued will be subject to a statutory four-month-and-one-day hold period. The transaction is expected to close following satisfaction of customary closing conditions, including TSX approval for the issuance of the Discovery shares. McEwen’s growth strategy focuses on expanding production from its existing asset base, lowering costs, and increasing cash flow while avoiding share dilution. The Fox Complex is entering a new phase of production growth, with the Stock Mine expected to enter production in Q4 2026 and commercial production in Q1 2027. Construction at El Gallo in Mexico began in September 2026, with production targeted for H2 2027. Surface work and equipment purchases are also planned at Grey Fox, Tartan, and the Gold Bar Complex. In addition to the US$55 million expected from the transaction, McEwen has received US$13.5 million in connection with the closing of the US$240 million McEwen Copper term loan announced on August 27, 2026. McEwen Inc. assigned its pre-existing loan receivable of US$13.5 million to new third-party lenders for cash consideration, and the incentive share purchase warrants previously issued by McEwen Copper were cancelled. In aggregate, these two transactions should provide approximately US$68.5 million of additional capital for growth capex and other development expenses. McEwen has a 46.3% interest in McEwen Copper, which owns the Los Azules copper development project in San Juan province, Argentina. Based on McEwen Copper’s last financing in October 2024, the implied value of McEwen’s ownership interest was US$456 million. The company has completed a Feasibility Study using a US$4.35/lb copper price, and Los Azules received approval under Argentina’s Large Investment Regime (RIGI). McEwen also owns a 1.25% NSR on Los Azules. Based on the 2025 Feasibility Study and using a recent copper spot price of US$6.50/lb, McEwen’s royalty is projected to generate approximately US$584 million from the initial case and US$860 million from the potential Nuton extension, for a combined undiscounted pre-tax royalty cash flow of approximately US$1.4 billion. McEwen has a 27% interest in Paragon Advanced Labs Inc., which is deploying PhotonAssay™ units globally. Chairman and Chief Owner Rob McEwen has invested over US$290 million personally and takes a salary of $1 per year.

McEwen Files NI 43-101 Technical Reports: Grey Fox Prefeasibility Study in Ontario and Lookout Mountain and Windfall Mineral Resource Estimate in Nevada

(TSX: MUX) McEwen Inc. announced the filing of technical reports on SEDAR+ for its Grey Fox Project in Ontario and its Lookout Mountain and Windfall deposits in Nevada. The Grey Fox Project Prefeasibility Study, effective June 8, 2026, outlines a 15-year project life with Probable Mineral Reserves of 9.41 million tonnes grading 3.24 g/t Au and containing 980,300 gold ounces. The base case at $3,000 per ounce gold projects life-of-mine cash costs of $1,833 per ounce, AISC of $2,212 per ounce, post-tax NPV (5%) of $282 million, IRR of 24.8%, and payback of 4.6 years. The Lookout Mountain and Windfall deposits together contain 629,800 gold ounces in Indicated Mineral Resources and 262,000 gold ounces in Inferred Mineral Resources. McEwen holds a 46.3% interest in McEwen Copper, with an implied value of US$457 million based on the last equity financing, and a 27.3% interest in Paragon Advanced Labs Inc. The company projects to increase total annual production to 250,000–300,000 gold equivalent ounces by 2030. Chairman and Chief Owner Rob McEwen has invested US$290 million personally and takes a salary of $1 per year.

McEwen Inc. Joins Russell 2000® Index

(TSX: MUX) McEwen Inc. announced that it has been added to the Russell 2000 ® Index as part of the June 2026 Russell Reconstitution, effective upon the opening of US equity markets on June 29, 2026. The company provides shareholders exposure to a growing base of gold and silver production in prolific mineral‑rich regions throughout the Americas including the Cortez Trend in Nevada, USA, the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is advancing the reactivation of its El Gallo gold and silver mine in Mexico and holds a 46.3% interest in McEwen Copper, which owns the Los Azules development project in San Juan, Argentina, with an implied value of US$457 million based on the last equity financing. The company’s near‑term objective is to double its total annual production to 250,000–300,000 gold equivalent ounces by 2030. Chairman and Chief Owner Rob McEwen has invested over US$290 million personally and takes a salary of $1 per year. McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a publicly traded company deploying PhotonAssay™ units around the world. Los Azules is being developed with the goal of achieving carbon neutrality by 2038.

Pre-Feasibility Study for Grey Fox at Fox Complex — High Returns, Manageable Capital, Mine Life Extended to 2041

(TSX:MUX) McEwen Inc. announced the results of the Pre-Feasibility Study (PFS) for its 100%-owned Grey Fox Project, located near Timmins, Ontario, with initial capital expenditures (“CAPEX”) estimated to be $181 million. Grey Fox will extend the Fox Complex mine life by 15 years to 2041, with mine reserves totalling approximately 40% of the current resource, and is projected to contribute an average of 43,000 gold ounces annually from 2028 to 2035, and 87,000 gold ounces per year from 2035 to 2040. The Fox Complex production in 2026 is projected at 16,000–19,000 gold ounces, and with the addition of Grey Fox, gold production at the Fox Complex is projected to reach ~100,000 gold ounces in 2029 and average ~87,000 gold ounces annually from 2028 through 2041. Cash costs and all-in sustaining costs (“AISC”) per ounce over the life of mine are $1,833 and $2,212, respectively, at a gold price of $3,000 per ounce (base case), and $2,042 and $2,421, respectively, at a gold price of $4,500 per ounce (enhanced case). At a gold price of $3,000 per ounce, pre-tax NPV (5%) is $429 million with an IRR of 31% and payback of 3.9 years; post-tax NPV (5%) is $282 million with an IRR of 25% and payback of 4.6 years. At a gold price of $4,500 per ounce, pre-tax NPV (5%) increases to $1.25 billion with an IRR of 70% and payback of 2 years; post-tax NPV (5%) increases to $841 million with IRR of 55% and payback of 2.3 years. The company projects commercial production to be reached in 2029 and is targeting receipt of permits for development work at the Grey Fox Mine within 12 to 18 months.

McEwen Receives $49.4 Million Dividend from San José Mine — Strong Cash Generation Supports Growth Without Meaningful Share Dilution

McEwen Inc. announced it has received a $49.4 million dividend from the San José Mine in Argentina, bringing total dividends from San José in 2026 to $58.2 million, surpassing its original full-year expectation of $40–$50 million. The company reported holding $56.5 million in cash and cash equivalents, $13.5 million in marketable securities, $15.7 million face value of McEwen Copper loan, and investments valued at $457 million in McEwen Copper and $20.4 million in Paragon Advanced Labs as of March 31, 2026. McEwen’s attributable production from its 49% interest in San José is expected to be 59,000 – 64,000 GEOs in 2026, with AISC projected between $2,300 - $2,500 per GEO. The company aims to double production to 250,000 – 300,000 GEOs by 2030, with targeted annual production of 75,000 – 90,000 GEOs from the Fox Complex and 20,000 GEOs from El Gallo. Chairman and Chief Owner Rob McEwen has invested US$290 million personally and takes a salary of $1 per year. The company is also advancing the Los Azules copper project in Argentina and has a 46.3% interest in McEwen Copper. Several key deliverables, including the Grey Fox Pre-Feasibility Study and initial production at the Stock Mine, are expected in the coming months.

McEwen Generates Strong Q1 Results & Advances Multi-Asset Growth Strategy; Net Income $33.4M ($0.56 per Share) vs. Net Loss $6.3M ($0.12 per Share) in Q1 2025; Internally Funding Key Projects to Double Production by 2030

McEwen Files NI 43-101 Technical Report for the Tartan Mine Project in Manitoba

McEwen Inc. announced the filing of an independent technical report for the Tartan Mine Project in Manitoba, Canada, prepared in accordance with NI 43-101. The report, effective December 31, 2025, supports previously announced mineral resource estimates: Indicated Resources of 2,619,000 tonnes at 3.67 g/t Au for 308,900 ounces of gold, and Inferred Resources of 2,832,900 tonnes at 3.32 g/t Au for 302,700 ounces of gold. The technical report was prepared by Global Resource Engineering and involved extensive data verification. McEwen Inc. is a gold and silver producer with operations and development projects in Canada, the U.S., Mexico, and Argentina, and holds a 46.3% interest in McEwen Copper, owner of the Los Azules copper project in Argentina. This announcement provides investors with updated and verified resource information for the Tartan Mine Project.