McEwen Inc. Completes Acquisition of Canadian Gold Corp., Gains Full Ownership of Tartan Project

McEwen Inc. (NYSE: MUX) (TSX: MUX) and Canadian Gold Corp. have completed their previously disclosed business combination through a statutory plan of arrangement under the Business Corporations Act (British Columbia). Under the terms of the arm's-length arrangement, each Canadian Gold common share was exchanged for 0.0225 shares of McEwen common stock, following shareholder approval on December 5, 2025, and final court approval by the Supreme Court of British Columbia.

As a result of the transaction, Canadian Gold is expected to be delisted from the TSX Venture Exchange and to seek to cease being a reporting issuer under applicable Canadian securities laws. The completion of this business combination represents a significant strategic move for McEwen, which now gains full ownership of the Tartan project. Management believes the Tartan project offers strong exploration, development, and production restart potential, adding to McEwen's existing portfolio of mining assets.

McEwen's Chairman and Chief Owner Rob McEwen has invested over US$200 million personally in the company and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build MUX's profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc. The company has a 46.4% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.

The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025. McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are located in prolific mineral-rich regions including the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada and the Deseado Massif in Santa Cruz province, Argentina.

The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX. This transaction strengthens McEwen's position in the mining sector by consolidating ownership of the Tartan project and expanding its asset base. The business combination follows standard corporate procedures and regulatory approvals, demonstrating the companies' commitment to proper governance and shareholder value creation through strategic acquisitions.