McEwen Inc. Announces Acquisition of Golden Lake Exploration to Expand Nevada Gold Bar Mine Complex

McEwen Inc. announced it has entered into a definitive agreement to acquire all issued and outstanding shares of Golden Lake Exploration Inc. by way of a court-approved plan of arrangement, under which Golden Lake would become a wholly owned subsidiary of McEwen. This acquisition is significant as it expands McEwen's footprint in Nevada's prolific Eureka Mining District, strategically positioning the company to consolidate and develop adjacent mineral properties. Golden Lake's principal assets are the 100%-owned Jewel Ridge and Jewel Ridge West projects, which are located adjacent to McEwen's Windfall and Lookout Mountain discoveries within the Gold Bar Mine Complex. The proximity of these assets creates opportunities for operational synergies, resource expansion, and potentially more efficient mining operations across a larger contiguous land package.

Under the proposed transaction, Golden Lake shareholders would receive 0.003876 McEwen shares per Golden Lake share, representing an implied price of C$0.12 per share and a 60% premium to Golden Lake's 20-day volume-weighted average price as of January 26, 2026. This premium represents a substantial value proposition for Golden Lake shareholders, who are expected to own approximately 0.5% of the combined company upon completion of the transaction. The acquisition follows industry trends of consolidation in mining districts where larger companies seek to control adjacent properties to optimize operations and reduce costs. The transaction is subject to shareholder, court, and regulatory approvals, with closing targeted following a special meeting expected in March 2026.

The strategic importance of this acquisition extends beyond immediate financial metrics. By consolidating the Jewel Ridge properties with its existing Gold Bar Mine Complex assets, McEwen gains control over a more comprehensive geological system in a proven mining district. Nevada remains one of the world's most productive gold regions, and the Eureka District has historically produced significant gold mineralization. The acquisition allows McEwen to potentially extend mine life, increase resource estimates, and improve operational efficiency through shared infrastructure and consolidated permitting. For investors seeking more information, the latest news and updates relating to MUX are available in the company's newsroom at http://ibn.fm/MUX. The full press release detailing the transaction terms can be viewed at https://ibn.fm/2uHsW.

This transaction occurs within the context of McEwen's broader corporate strategy to improve productivity and extend the life of its mining assets. The company operates gold and silver production facilities in Nevada, Canada, Mexico, and Argentina, and also owns approximately 47.7% of McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. The Golden Lake acquisition represents a focused expansion of McEwen's Nevada operations specifically, where the company can leverage existing expertise and infrastructure. As mining companies increasingly seek to optimize their portfolios through strategic acquisitions of adjacent properties, this transaction demonstrates how junior exploration companies with promising assets in established mining districts can become attractive acquisition targets for larger producers seeking to enhance their resource base and operational efficiency.