McEwen Mining: 36.0 g/t Gold Over 10.0 Meters - Froome Mine Life Extended With Discovery of New High-Grade Mineralization

TORONTO, July 23, 2025 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE: MUX) (TSX: MUX) (“McEwen”, "MUX" or the "Company”) is pleased to announce the discovery of high-grade mineralization approximately 200 meters West of the Froome Mine, which is the current source of production at the Fox Complex. This discovery will extend our mining at Froome.

Highlights from Drilling at Froome West:

Intercepts along the Froome West high-grade plunge (refer to Figures 2 and 3):

• Hole 25PR-G424 returned 36.0 g/t gold over 10.0 m (including 160.0 g/t gold over 2.2 m), and 9.3 g/t gold over 7.8 m.
• Hole 25PR-G399 returned 6.7 g/t gold over 3.4 m.
• Hole 25PR-G381 returned 15.0 g/t gold over 6.6 m and 4.9 g/t gold over 2.2 m.

Extending mineralization further West (refer to Figures 2 and 3):

• Hole 25PR-G390 returned 11.7 g/t gold over 2.4 m and 18.5 g/t gold over 0.5 m, representing drill intercepts of two of the stacked mineralized zones stepping out to the West.
• Hole 25PR-G413 returned 22.1 g/t gold over 1.8 m.

Unless specified as core widths (CW), all assay intervals in this press release are presented as true widths (TW).

The mineralization we see at Froome West occurs as several sub-vertical, stacked mineralized lenses which can often lead to increased flexibility during mining. Within these lenses we are seeing a concentration of high grade in a roughly 15 to 25 meters wide, vertically oriented trend (or plunge). Gold mineralization remains open to the West and at depth, which encourages further exploration in both directions.

Froome West mineralization is similar in style to that seen at the Black Fox deposit (approx. 900 meters to the East and shown in Figure 1), characterized by structurally controlled, stacked, sub-vertically dipping quartz-carbonate veins, with occurrences of visible gold (VG) and showing a steep high-grade plunge. Total historical production at the Black Fox and Froome mines is 1.1 million gold ounces. The exploration program at Froome West will continue drilling to test deeper (along the down-dip extension of the high-grade plunge), and laterally (westward along strike), to evaluate broader regional mineralization trends.

Figure 1 below provides an aerial view showing the location of the Froome West mineralization in relation to the Froome Mine deposit currently being mined and the historic Black Fox Mine, including its open pit and underground workings. Future mining activities at Froome West will continue to use the existing infrastructure currently used for mining operations at the Froome Mine.

Figure 1. Aerial View of the Locations of Froome West, Froome Mine and Historical Black Fox Mine

Mining infrastructure development on four levels is planned and already underway at Froome West, starting from the existing workings at the producing Froome Mine and extending 200 meters toward the West zones. This is shown in blue in Figures 2 and 3. The new infrastructure will allow for access and testing for extensions of the Froome West mineralization.

Table 1 lists the new drilling results for Froome West that are presented in this press release.

Table 1. Froome West Drill Results Highlights

The long section view A-A’ in Figure 2 below (location shown on Figure 1) shows the outline of the mineralized zones at Froome West and the locations of the drill hole intercepts listed in Table 1 above. The high-grade plunge is identified by the darker orange vertical lines, located to the Eastern side, close to the planned early infrastructure, and shows the potential expansion of the mineralized zone both to depth (down-dip) and to the West along strike.

Figure 2. Long Section View A-A’ Looking East Northeast, Showing the Newly Discovered Froome West Mineralization (Orange), Including the High-Grade Plunge (Bright Orange), 200 Meters from the Froome Mine Operations, Where We Are Currently Mining (Olive Green and Green)

The cross-section view B-B’ in Figure 3 below (location shown in Figure 1) shows the stacked lenses seen at Froome West. The section also shows the planned and current infrastructure (in blue), along with some of the notable drillhole intercepts received for this drilling campaign.

Figure 3. Cross Section View B-B' Looking Northwest, Showing the Stacked Mineralized Zones West of Froome Mine and Notable Drill Hole Intercepts

This discovery of high-grade mineralization will extend the mining at Froome and provide more optionality in our mine plan for the Fox Complex. As mentioned in previous announcements (see our June 5^th press release and the Annual Meeting presentation from June 19^th, 2025), our Stock Mine is part of the mine plan for the Fox Complex and is expected to come into commercial production in 2026.

“We are excited at the potential of what Froome West holds, in an area of our property that is relatively underexplored; our current mineralization model extends to a depth of 250 meters and remains open both at depth and to the West. The nearby Black Fox Mine historically produced nearly 1 million gold ounces, from mining that extended down to 800 meters below surface. With geology and mineralization styles comparable to those seen at Black Fox, which encountered mineralization as deep as 1,000 meters, the Froome West area has the potential to lead us to the discovery of a deposit of similar scale and significance,” said Chief Geologist Rob Glover.

A table of drill results at Froome West up until July 16^th, 2025 that includes hole locations and alignments is available on the Company’s website and can be accessed by clicking here.

Technical Information

Technical information pertaining to the Fox Complex exploration contained in this news release has been prepared under the supervision of Robert Glover, P.Geo., McEwen Ontario’s Chief Geologist, who is a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

The majority of the analyses reported herein were submitted as whole core samples and assayed by the photon assay method at the accredited laboratory MSA Labs (ISO 9001 & ISO 17025) in Timmins, Ontario, Canada. Additional analyses reported herein were submitted as whole core samples and assayed by the Fire Assay method at the McEwen Mine Assay Lab in Timmins, Ontario, Canada.

ABOUT MCEWEN

McEwen provides its shareholders with exposure to gold, copper and silver in the Americas by way of its three mines located in the USA, Canada and Argentina and its large advanced-stage copper development project in Argentina. It also has a gold and silver mine on care and maintenance in Mexico. Its Los Azules copper project aims to become one of the world’s first regenerative copper mines and is committed to carbon neutrality by 2038.

Rob McEwen, Chairman and Chief Owner, has personally invested US$205 million in the companies and takes a salary of $1/ year. He is a recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame. His objective for MUX is to build its share value and establish a dividend, as he did while building Goldcorp Inc.

McEwen's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX".

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen.

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