McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) Advances Los Azules Project with Comprehensive Drilling Program

• Completion of a 70,000 meters drilling program at Los Azules project, is confirming the potential for significant copper production
• Discovery of significant mineralization extensions beyond the planned pit area, suggesting the possibility of resource expansion
• Strategic multi-year drilling campaign aimed at supporting the Los Azules Bankable Feasibility Study, with a focus on sustainability and low environmental impact

McEwen Copper Inc., under the partial ownership of McEwen Mining (NYSE: MUX) (TSX: MUX), has made significant progress at its Los Azules project in Argentina, marking a pivotal moment with the recent completion of a comprehensive 70,000 meters drilling program. This achievement is not just a technical milestone but also a testament to the company’s commitment to advancing the project towards production. The impressive assay results, including sections with high copper grades, underscore the potential of Los Azules to become a significant producer of green copper.

The drilling campaign was meticulously designed to achieve several critical objectives, crucial for the project’s development. By confirming the size and grade of the deposit, McEwen Copper aims to solidify its understanding of Los Azules’ potential compared to initial estimates.

Furthermore, the discovery of significant mineralization extensions beyond the planned pit area, both to the north and south, opens new avenues for resource expansion. This, coupled with the identification of a new porphyry system east of the main deposit, suggests that Los Azules could exceed current expectations in terms of size and mineral wealth. Such findings could potentially enhance the project’s economics and extend its life.

The ongoing 2023-2024 drilling campaign is a strategic effort to gather all necessary data for the Los Azules Feasibility Study, expected to be completed by early 2025. By focusing on converting resources to higher confidence categories and conducting various supportive studies, McEwen Copper is laying a solid foundation for the project’s future development. This meticulous approach is aimed at ensuring the project’s viability and profitability, particularly during the critical initial payback period.

McEwen Copper’s vision for the Los Azules project, emphasizing sustainability and low environmental impact, aligns with the growing demand for responsible mining practices. The project’s design to utilize renewable energy and minimize water and carbon footprints sets a precedent in the industry. Coupled with the updated PEA’s promising projections, including a high after-tax IRR, Los Azules stands out as a potentially transformative project for McEwen Mining, promising to bolster its portfolio and contribute significantly to its growth strategy in the copper sector.

For more information, visit the company’s website at www.McEwenMining.com.

NOTE TO INVESTORS: The latest news and updates relating to MUX are available in the company’s newsroom at http://ibn.fm/MUX

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