“MUX: Hard Money and Green Copper”
Rob McEwen, Chairman & Chief Owner
A Unique Combination of Gold & Silver Production &
A Large Copper Deposit Plus Exploration Upside
MUX Properties – Gold, Silver & Copper in Prolific Mineral-Rich Regions
Fox Complex in Timmins, Ontario – Canada’s Largest Gold Producing District
100% MUX Producer, Multiple Projects on Prime Segments of the Destor-Porcupine Fault
2025 Froome Mine Production Guidance: 25-28 Koz gold
Mill Capacity: 2,000 tonnes per day
Stock Mine Ramp Construction Work: Initiated in 2024, commercial production expected mid-2026
2025 Budget: $10 million exploration, $71 million development
Exploration: Supporting upcoming Grey Fox Pre-Feasibility Study and extending the mine life of the complex
Fox Complex Gold Resources (Dec 31, 2024)
Measured: 104,000 oz @ 4.95 g/t Au
Indicated: 2,071,000 oz @ 3.59 g/t Au
Inferred: 795,000 oz @ 3.18 g/t Au
More about Fox Complex: McEwen Inc. – Fox Complex
For more about the activity in Timmins and to view the digital map, visit: Timmins Area Digital Map
Other Projects and Operations
McEwen Targeting Double Production by 2030
Organic Growth With Exploration Upside
Fox Complex: New upcoming mine at Stock property, Froome West discovery to add production ounces
Gold Bar: Exploration at Lookout Mountain, Windfall and Unity Ridge driving the resource expansion
San José: High-grade underground gold & silver mine on prospective land package
Fenix Project: Permitting work & new plan for earlier production
Improving Balance Sheet (Sep 30, 2025)
Debt: $110 million
Cash & Equivalents: $51 million
2025 Production Guidance: 112-123 K gold equivalent ounces
McEwen Copper Surfacing Large Value
Advancing Los Azules, World’s 4th Largest Undeveloped Copper Project Not Controlled by a Major Producer
Planning: The world’s first regenerative copper mine in Argentina
Environmentally Progressive: Powered by 100% renewable energy, committed to carbon neutrality by 2038
2025 Feasibility Study (@ $4.35/lb Cu)
Leach + SX/EW process producing 99.99% copper cathodes on site (no smelter required)
Life of Mine: 21 years
Annual Production: 327 Million lb (148.2 kt) Cu
Competitive Costs: $1.71/lb C1 cash cost, $2.11/lb AISC
After-tax NPV (8%): $2.9 Billion
Copper Resources & Reserves
Proven & Probable: 10.2 Billion lb @ 0.45% Cu
Measured & Indicated: 5.4 Million lb @ 0.26% Cu
Inferred: 20.0 Billion lb @ 0.21% Cu
Low Impact Compared to Conventional Mines:
74% less freshwater consumption
48% less energy consumption
72% less GHG emissions
EIA (Environmental Impact Assessment) approved for construction & operation
Accepted into RIGI (Argentina’s Large Investment Incentive Regime), providing tax, FX, customs & legal benefits
Signed collaboration agreement with IFC, member of the World Bank Group
2026: exploration on new porphyry targets, IPO, construction to start subject to financing
For more information about McEwen’s projects and operations visit: McEwen’s web site.
Share Structure
High Investor Alignment
With over $200 million invested in the companies, Chairman & Chief Owner Rob McEwen owns approximately 15% of McEwen Inc. and 13% of McEwen Copper.
Contact Information
To learn more about McEwen Inc. please contact:
Email: info@mcewenmining.com
Toll Free: 800-962-4284
Website: www.mcewenmining.com
To view the Timmins map and important information about the Timmins area, go to https://digigeodata.com/area/timmins/