McEwen Inc. (NYSE:MUX) (TSX: MUX) is advancing three key areas at its Gold Bar Mine Complex in the Eureka Mining District of Nevada, to increase resources, extend mine life and potentially increase annual gold production: 1) Lookout Mountain 2) Windfall, and now 3) Unity Ridge (Figure 1). The Company believes that integrating these areas into the mine plan has the potential to transform the Gold Bar Mine Complex into a long-life asset. Recent drilling has delivered strong intercepts including the following, highlighting the growth potential at Gold Bar:

• 1.0 gpt gold over 89.9 meters in drillhole LM045
• 4.6 gpt gold over 26.7 meters in drillhole WF055
• 3.6 gpt gold over 48.8 meters in drillhole GB660.

Why It Matters to Our Shareholders & the Value of Our Company

The Company’s objective at the Gold Bar Mine Complex is to convert our exploration success into a long-life asset as we integrate Lookout Mountain, Windfall and Unity Ridge into our production plans. Since much of the gold mineralization in these areas is oxide, McEwen will look to utilize the existing Gold Bar infrastructure where possible. It is important that we don’t just add ounces but focus on return on capital and how efficiently these ounces can be developed and produced. Next year will be a pivotal period for the Gold Bar operation, as we work to advance these areas and build our future in Nevada.

1) Lookout Mountain

Drilling at Lookout Mountain focused on infilling areas of the existing deposit (resource estimate stated below) to convert Inferred Resources into the Measured and Indicated categories and obtain samples to commence metallurgical testing aimed at confirming the use of the same heap leach recovery process currently used at Gold Bar.

The 2025 drill program at Lookout Mountain is now complete (see Figure 2) and met its objectives. Next steps include publishing an updated resource estimate with McEwen’s year-end financials, receiving the results from the metallurgical testing, advancing engineering work around the pit design, and permitting, to advance Lookout Mountain towards production.

Recent infill drill result highlights from Lookout Mountain are shown below in Table 1.

Table 1. Selection of assay results from Lookout Mountain

Note: Numbers may not sum due to rounding and metric conversion

Lookout Mountain was acquired by McEwen as part of the Timberline Resources acquisition in 2024. Timberline published a resource estimate for Lookout Mountain (NI43-101 and S-K1300 Technical Reports, 2023), which contains:

• • 423,000 oz gold in the Measured and Indicated categories, from 23,423,000 tonnes grading 0.56 grams per tonne (gpt) gold (Au), or 25,819,000 tons grading 0.017 ounce per ton (oz/T) Au; and
  • 84,000 oz gold in the Inferred category, from 6,641,000 tonnes grading 0.39 gpt Au, or 7,322,000 tons grading 0.011 oz/T Au.

2) Windfall (Figures 3 & 4)

A resource estimate for Windfall is scheduled for next year. Recent results continue to indicate that there is excellent continuity of near-surface oxide gold mineralization along a 1.6-kilometer-long (1 mile) section of the north-south-trending Windfall fault zone (Figure 3). The gold mineralization at Windfall remains open for further expansion in multiple directions. The addition of Windfall into the Company’s overall resource estimate at the Gold Bar Mine Complex is expected to have a meaningful impact on total ounces.

New near-surface oxide results are shown below in Table 2.

Table 2. Selection of assay results from Windfall

Note: Numbers may not sum due to rounding and metric conversion

The Company will continue its exploration program in 2026, focusing on the higher-grade areas of the deposit. In addition, McEwen will complete metallurgical studies and mining designs with the objective of advancing Windfall towards production. Notably, Windfall is located on private land, which could accelerate the permitting process.

3) Unity Ridge

At Unity Ridge, located within the current limits of the Gold Bar Mine (Figure 5), the Company is at the early stages of evaluating the potential to expand and merge three existing open pits into one larger mining area, which could increase gold resources and extend mine life (Figure 6).

McEwen has completed a series of drillholes between and below the open pits with results that intersected oxide gold mineralization highlighted below in Table 3.

Table 3. Selection of assay results from Unity Ridge

Note: Numbers may not sum due to rounding and metric conversion

In 2026, the Company’s focus at Unity Ridge will be a drilling program to confirm the gold grades and widths associated with historical drilling (Figure 7), expand the known mineralization, and estimate the amount of oxide gold mineralization that could potentially be leached using the current process facilities. Unity Ridge lies within the current Plan of Operations for mining activity, which could allow for permitting to be expedited.

Detailed tables of drill results at the Gold Bar Mine Complex which include hole locations and alignments for Lookout Mountain, Windfall and Unity are available on the Company’s website and can be accessed by clicking here.

About McEwen

McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.

The Company has a 46.4% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million.

The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.

Chairman and Chief Owner Rob McEwen has invested over US$200 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.

Technical Disclosure

Technical information pertaining to the Gold Bar Complex exploration contained in this press release has been prepared under the supervision of Robert Kastelic, MSc, CPG, Exploration Manager in Nevada and Luke Willis, P.Geo, Director of Resource Modelling for McEwen Inc., who are Qualified Persons (QPs) as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects.”

Analyses reported herein were submitted either as half core samples or reverse circulation samples and, for Lookout Mountain, Windfall and some Unity drillholes, assayed by the photon assay method at the Paragon Geochemical laboratory, in Reno, Nevada. Remaining core and RC samples from the Unity Pit drilling were assayed by the fire assay method at one of the following labs: ALS Chemex, American Assay Labs, Pangea Labs and Paragon Geochemical. McEwen recently signed an agreement to acquire 31% of Paragon Geochemical Laboratories

As part of our regular QA/QC program, McEwen follows a closely controlled and documented Chain of Custody protocol and submits certified reference materials, blanks and duplicates at regular intervals in the sample stream for the monitoring and assessment of laboratory processes and procedures.

All incoming QA/QC results are reviewed to ensure data quality before incorporating the information into the geological database.

Figure 1. Location of Lookout Mountain, Windfall and Unity Ridge

Figure 2. Map of Lookout Mountain showing the location of the holes from the 2025 drilling campaign

Figure 3. Map showing the location of new drill results in the Windfall area

Figure 4. Cross-section of drillhole WF119 showing the extent of new mineralization found in the Windfall Fault Zone; previous results from WF037 and WF039 (see press release dated October 22^nd, 2025) are also shown.

Figure 5: Map showing the location of the proposed Unity Pit at Gold Bar.

Figure 6: Cross Section (see Figure 7) showing mineralized intersections in the proposed Unity Pit at Gold Bar

Figure 7: Plan view map showing the holes located in the proposed Unity Pit area