McEwen Announces COO Retirement and Promotes Leadership Team to Drive 2030 Production Goals

McEwen Inc. (NYSE: MUX) (TSX: MUX) has announced the planned retirement of Chief Operating Officer William Shaver, who is stepping down after more than 55 years in the mining industry, including the last four years with the company. Shaver will continue to serve on the board of McEwen Copper, which is 46.3% owned by McEwen. This transition comes as the company positions itself for significant growth, aiming to produce 250,000 to 300,000 gold equivalent ounces annually by 2030.

To ensure continuity and strengthen its leadership, McEwen has promoted three key executives. Channa Kumarage has been appointed vice president of operations, Kevin Bromfield as vice president of development projects, and Zahir Jina as vice president of permitting, government relations and sustainability. These roles are strategically focused on production, mine construction, and permitting, which are critical to achieving the company's ambitious production target.

The leadership changes signal McEwen's commitment to operational excellence and project advancement. The company's portfolio includes gold and silver mines in prolific regions across the Americas, such as the Cortez Trend in Nevada, the Timmins district in Ontario, Flin Flon in Manitoba, and the Deseado Massif in Argentina. Additionally, McEwen is reactivating its gold-silver El Gallo Mine in Mexico.

A significant component of McEwen's future growth is its 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper development project in San Juan province, Argentina. This project is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million, or US$7.67 per share. The feasibility study results were announced in a press release dated October 7, 2025.

McEwen has also recently acquired a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. This technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider in this space.

Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes an annual salary of $1, aligning his interests with shareholders. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc. McEwen 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.

The leadership promotions underscore McEwen's strategic focus on operational efficiency and project development. As the company works toward its 2030 production goal, these appointments are expected to drive progress in key areas such as mine construction and permitting, which are essential for bringing new projects online and optimizing existing operations.

For more information on the full press release, visit https://ibn.fm/58acL.