McEwen Mining Inc.

1.4

Canada & Ontario Toronto

150 King Street West, Suite 2800

+1 866 441-0690

www.mcewenmining.com

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Company Press Releases

Silver Mountain Mines Enters Into Letter of Intent with Nevgold Corp. For a Proposed Reverse Takeover

CALGARY, Alberta, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Silver Mountain Mines Ltd. (TSXV: “SMM”) (“Silver Mountain” or the “Company”) announces that it has entered a non-binding Letter of Intent (the “LOI”) dated January 13, 2021 with Nevgold Corp. (“Nevgold”) with respect to a proposed transaction (the “Proposed Transaction”) whereby Silver Mountain will acquire all of the issued and outstanding common shares in the capital of Nevgold (the “Nevgold Shares”). Nevgold is a private Britis...

McEwen Mining Announces Flow-Through Financing

TORONTO, Jan. 08, 2021 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a financing to fund development of the Froome deposit, which is expected to reach commercial production in Q4 2021, located at the Fox Complex in the Timmins region of Ontario. The financing consists of a US$11,821,000 (Cdn$15,000,000) private placement offering (the “Offering”) of 11,628,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$1.02 (Cdn$1.29) per flow-through c...

McEwen Mining: Updated Gold Bar Resource and Reserve Estimates

TORONTO , Jan. 07, 2021 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce an updated Indicated Resource Estimate of 499,000 contained gold ounces and Probable Reserve Estimate of 302,000 recoverable gold ounces for the Gold Bar Mine in Nevada (“Gold Bar”). See Tables 1-3 for the updated estimates. Gold Bar’s estimated after-tax net present value (NPV) discounted at 8% and using a gold price of $1,500/oz is in the range of $62 to $76 million; while the upside case at a gold price of $1,900/oz is in the range of $150 to $170 mill...

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