McEwen Mining Inc. Common Stock (MUX)

McEwen Mining (NYSEMUX) (TSX: MUX) announced encouraging results from its initial 27-hole drilling program at the Windfall Project in Nevada, part of the Timberline Property acquired in 2024. The results confirm the continuity of oxide gold mineralization along a 1.6-km section of the Windfall fault zone, extending below historical pits. Notable drill intercepts include 33.5 meters grading 2.85 g/t Au in hole WF006 and 24.4 meters grading 2.03 g/t Au in hole WF025. These findings suggest potential for additional resources, with further drilling planned to support future production decisions.

WF006: 2.85 g/t Au over 33.5 m from 64.0 m (0.083 oz/T Au over 110 ft)

McEwen Mining (NYSEMUX) (TSX: MUX) reported a significant increase in gold resources at its Grey Fox Deposit, part of the Fox Complex, following its 2024 exploration efforts. The company has allocated a $9.7 million budget for its 2025 program, including 68,500 meters of diamond drilling. Recent drilling at the Gibson Zone returned 17.7 g/t gold over 8.0 meters, with early 2025 results showing 12.9 g/t gold over 4.3 meters and 15.3 g/t gold over 2.7 meters. An updated resource estimate places Grey Fox’s Indicated resources at 1.54 million ounces of gold at 3.64 g/t and Inferred resources at 458,000 ounces at 3.30 g/t. McEwen is also targeting new discoveries at the Black Fox Horizon and expects its expanding resource base to benefit from strong gold market fundamentals.

Drilling Highlights:

TORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSEMUX) (TSX: MUX) is pleased to announce that exploration at the Grey Fox Deposit, part of the Fox Complex, successfully delivered in 2024 a large increase in our gold resources. Early results from the 2025 program are also most encouraging. The 2025 exploration budget for the Fox Complex is US$9.7 million, including 68,500 meters of diamond drilling.

TORONTO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it will be presenting its exciting discoveries at The Metal Investors Forum (MIF) February 28th - March 1st being held at the Delta Hotel, 75 Lower Simcoe Street, Toronto. It will also be presenting at PDAC 2025 being held at the Metro Toronto Convention Centre from March 2nd- 5th in the Investors Exchange South Hall Booth # 3232. Goliath’s technical team will be in attendance for both shows.

McEwen Mining (NYSEMUX) (TSX: MUX) responded to a Feb. 12, 2025 news release by the Apitipi Anicinapek Nation alleging that the company breached the Impact Benefit Agreement tied to the Fox Complex, a property that has changed hands from Brigus Gold Corp to Primero Mining Corp and then to McEwen; the company reiterated its commitment to environmental protection at the Stock Mill tailings facility, which operates under strict Ontario ministry oversight and enhanced monitoring following a Closure Plan Amendment, and disputed an obligation to issue annual Brigus shares to AAN, noting that the shares are not interchangeable and that it has provided CDN$20 million in community benefits since 2017 while calling for daily AAN representation at Fox to improve transparency.

TORONTO, Feb. 21, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSEMUX) (TSX: MUX) is responding to the news release issued by the Apitipi Anicinapek Nation (“AAN”) dated February 12th, 2025, that alleges McEwen has breached the Impact Benefit Agreement (“IBA”) associated with the Fox Complex (“Fox”) originally signed in 2011 between Brigus Gold Corp (“Brigus”) and AAN. Since that time, the Fox property has changed ownership twice. First to Primero Mining Corp. (“Primero”) when it purchased Brigus in 2013 and then in 2017 when McEwen acquired Fox from Primero in a single asset sale.

McEwen Mining (NYSEMUX) (TSX: MUX) is set to acquire 5.18 million units of Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) in a non-brokered private placement, reinforcing its interest in Goliath’s high-grade gold exploration at the Surebet discovery in British Columbia’s Golden Triangle. Goliath reported intercepts of up to 10.91 g/t AuEq over 10 meters, with 92% of 2024 drill holes containing visible gold. The transaction includes shares of McEwen Mining issued in exchange, with each unit comprising one Goliath common share and half a warrant exercisable at C$2.50 per share for 12 months.

Drilling Highlights:

McEwen Mining (NYSEMUX) (TSX: MUX) announced that its subsidiary, McEwen Copper, has applied for Argentina’s Large Investment Incentive Regime (RIGI) to support development of the Los Azules copper project. The $2.7 billion project would benefit from reduced corporate taxes, VAT relief, export duty exemptions, and 30-year stability if approved. Chairman Robert McEwen emphasized the initiative aligns with Argentina’s push for foreign investment, while Vice President Michael Meding highlighted recent milestones, including an approved environmental permit. The move strengthens McEwen Mining’s position in the global copper market.

McEwen Mining (NYSEMUX) (TSX: MUX) has completed its previously announced offering of 5.25% convertible senior notes due 2030, raising $110 million, including a fully exercised $15 million option. The notes carry an initial conversion price of $11.25 per share, representing a 30% premium to the company’s Feb. 6 closing price, with a capped call potentially increasing the effective conversion price to $17.30. Proceeds will be used to partially repay $20 million of senior secured debt and fund corporate initiatives, including expanding gold production at the Fox Complex. Chairman Rob McEwen emphasized the financing’s low dilution risk and cost-effective structure.

TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSEMUX) (TSX: MUX), is pleased to announce that its subsidiary Andes Corporación Minera S.A., has applied for admission of the Los Azules copper project to Argentina's Large Investment Incentive Regime (“RIGI”).

TORONTO, Feb. 11, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSEMUX) (TSX: MUX) (the “Company”) is pleased to announce it has closed its previously announced offering of 5.25% convertible senior notes due 2030 (the “Notes”) in an aggregate principal amount of $110 million (the “Offering”), which includes the upsized offering of $95 million and the exercise in full of the $15 million option granted to the initial purchasers of the Notes. All amounts are in United States Dollars.

McEwen Mining Inc. (NYSEMUX) shares are moving lower Wednesday after the company announced a $95 million private placement of convertible senior notes, triggering a sharp sell-off.

McEwen Mining (NYSEMUX) (TSX: MUX) announced the pricing of $95 million in convertible senior notes due 2030 in a private placement under Rule 144A of the Securities Act. The company granted initial purchasers an option to buy an additional $15 million in notes, potentially increasing the total to $110 million. The notes carry a 5.25% interest rate and an initial conversion price of $11.25 per share, a 30% premium over the Feb. 6 closing price of $8.65. A capped call transaction could increase the effective conversion price to $17.30 per share. Proceeds will be used for a capped call overlay, debt repayment, and general corporate purposes. The offering is expected to close Feb. 11, 2025, pending customary conditions.

TORONTO, Feb. 07, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSEMUX) (the “Company”) today announced the pricing of $95 million aggregate principal amount of its convertible senior notes due 2030 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also granted to the initial purchasers of the Notes an option to purchase, for settlement within 13 days from the date of initial issuance of the Notes, up to an additional $15 million aggregate principal amount of Notes. The sale of the Notes is scheduled to close on February 11, 2025, subject to satisfaction of customary closing conditions.

TORONTO, Feb. 06, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSEMUX) (TSX: MUX) (the “Company”) today announced its intention to offer, subject to market conditions and other factors, $85 million aggregate principal amount of convertible senior notes due 2030 (the “Notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the offering, the Company expects to grant to the initial purchaser of the Notes an option to purchase, for settlement within a 13-day period from the date of initial issuance of the Notes, up to an additional $15 million aggregate principal amount of Notes.

McEwen Mining (NYSEMUX) (TSX: MUX) reported a significant increase in estimated gold resources at the Grey Fox deposit within its Fox Complex, compared to its 2021 estimate. The discovery cost was $14.46 per ounce, with mineralization located near the historically productive Porcupine-Destor fault. The increase is attributed to exploration drilling, a higher gold price assumption of $2,000 per ounce versus $1,725 in 2021, and a lower cut-off grade of 1.60 g/t gold. Chairman Rob McEwen stated that the expanded resources will support higher annual production and extended mine life. A complete resource update is expected in the coming weeks.

32% Increase in the Indicated Resource to 1,538,000 Ounces of Gold 95% Increase in the Inferred Resource to 458,000 Ounces of Gold

McEwen Mining (MUX) has expanded Grey Fox's gold resource by 32% to 1.54 million oz and doubled inferred resources to 458,000 oz in Northern Ontario.

McEwen Mining (NYSEMUX) (TSX: MUX) announced a significant increase in estimated gold resources at the Grey Fox deposit within its Fox Complex as of Dec. 31, 2024, compared to its 2021 estimate. The discovery cost averaged $14.46 per ounce, with new exploration drilling and higher gold prices contributing to the resource expansion. The updated resource estimate reflects a lower cut-off grade due to gold price adjustments from $1,750 to $2,000 per ounce. Chairman Rob McEwen stated that the expanded resources will support increased annual production and extended mine life. A full resource update is expected in the coming weeks.

32% Increase in the Indicated Resource to 1,538,000 Ounces of Gold

McEwen Mining (NYSEMUX) (TSX: MUX), an asset rich diversified gold and silver producer with a large exposure to copper through its McEwen Copper subsidiary, was recently featured in a new video series launched by Allan Barry Laboucan called “Insights into Drilling.”

McEwen Mining (NYSEMUX) (TSX: MUX), announced full-year 2024 consolidated production of 135,900 gold equivalent ounces (“GEOs”), aligning with its annual guidance. Gold Bar and San José mines exceeded expectations with 44,600 and 60,100 GEOs, respectively, while the Fox Complex fell short at 30,150 GEOs due to a stope failure in early 2024. For 2025, MUX projects production between 120,000 and 140,000 GEOs, influenced by the transition at Fox from the Froome mine to the Stock mine, which is now expected to reach commercial production in early 2026. Gold Bar’s production will be weighted toward the second half of the year as high waste stripping in the Pick pit concludes, setting up stronger ore availability for late 2025 and 2026.