Starting a New Chapter of Growth

Core Viewpoint - McEwen Mining Inc. announces the commencement of construction at the Stock Mine, which is expected to enhance gold production and reduce costs per ounce, coinciding with high gold prices [1][4]. Group 1: Project Development - Construction of the ramp system at the Stock Mine is underway, aimed at facilitating access to lower-cost gold production [1]. - The Stock Mine is part of the Fox Complex and is strategically located in the Timmins gold mining district, known for its rich gold deposits [1]. - The Stock Mine previously produced 137,000 ounces of gold at an average grade of 5.5 g/t from 1989 to 2005 [3]. Group 2: Resource and Production Potential - Extensive drilling has defined three gold zones (West, Main, and East) at the Stock Mine, with current resources of 281,000 ounces at an average grade of 3.12 g/t Indicated and 181,000 ounces at an average grade of 2.87 g/t Inferred [4]. - Mining is expected to commence in the East Zone, which has seen a recent increase in resources, providing early production and cash flow [6]. Group 3: Cost Advantages - The Stock Mine will eliminate a previous metal stream obligation from the Froome Mine, which required selling 8% of production at $605 per ounce [1][9]. - The material at Stock is softer, allowing for higher mill throughput and increased gold production compared to the Froome Mine [9]. - The proximity of the Stock Mine to the mill will significantly reduce haulage costs, as the Froome Mine is located 35 kilometers away [9].