McEwen Inc. (NYSE: MUX) (TSX: MUX) is pleased to report that drilling at Fox Complex’s Grey Fox Project continues to deliver attractive gold grades and widths. These results from the Gibson Expansion Zone and Grey Fox South support resource growth ahead of an updated resource estimate expected in October 2025.

Strategic Highlights

• Consistent High-Grade Results: Drilling continues to deliver attractive gold grades and demonstrate continuity across key zones, including Gibson Expansion and GFS.
• Resource Growth Potential: New intercepts illustrate the potential for near-term resource expansion, building on the current Grey Fox resource of 1,538,000 gold ounces at 3.64 g/t Au Indicated and 458,000 gold ounces at 3.30 g/t Au Inferred.
• Exploration Outlook: Geological similarities with large regional deposits, such as Canadian Malartic, reinforce Grey Fox’s growth potential.
  • Upcoming Milestone: Updated Grey Fox resource estimate scheduled for October 2025.

Drilling Highlights from Two Key Gold Zones at Grey Fox – Gibson & GFS

Project Update

The updated 3D mineralization model for Grey Fox incorporates recent intercepts and is expected to increase the forthcoming resource estimate. With mineralization remaining open and new zones demonstrating strong continuity, Grey Fox has significant potential for further resource growth and contribution to McEwen’s Ontario operations. This potential is further supported by geological parallels with major regional deposits, such as Canadian Malartic located near Val d’Or, Quebec, where similar host rocks and depositional environments have yielded large-scale, long-life gold production.

“We are delighted to have four key projects driving our gold mining business in both the near and long term. Exploration drilling on our Fox Complex, specifically Grey Fox, continues to exceed expectations, while underground development at our Stock Mine and Froome West is progressing well. We are also encouraged by the potential of our Nevada projects, where drilling will provide further exploration updates.
Our development work at the Stock Mine and Froome West positions us to increase gold production and lower costs in 2026, while Grey Fox remains our key project for long-term growth. With gold performing exceptionally well, our gold-focused projects and operations put McEwen in a strong position to take advantage of higher prices. Our goal over the next few years is clear: to grow annual output beyond 200,000 gold ounces and reduce production costs, generating stronger margins,” said Rob McEwen, CEO and Chief Owner.

A detailed drill results table, supporting figures, and geological discussion are provided in the Appendix to this press release, following the Investor Relations and Social Media section.

Technical Information

Technical information pertaining to the Fox Complex exploration contained in this press release has been prepared under the supervision of Sean Farrell, P.Geo., McEwen Ontario’s Exploration Manager, 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 technical information related to resource and reserve estimates in this press release has been reviewed and approved by Luke Willis, P.Geo., McEwen’s Director of Resource Modelling and a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

New analyses reported herein were submitted as ½ core samples and assayed by the photon assay method at the accredited laboratory MSA Labs (ISO 9001 & ISO 17025) in Timmins, Ontario, Canada.

ABOUT MCEWEN

McEwen Inc. provides its shareholders with exposure to gold, copper and silver in the Americas by way of its producing mines in 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 is being developed to become one of the world’s first regenerative copper mines and carbon neutral by 2038.

Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$205 million 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.