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 announced the completion of their previously disclosed business combination by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which McEwen acquired Canadian Gold. 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 Dec. 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, while McEwen gains full ownership of the Tartan project, which management believes offers strong exploration, development, and production restart potential.

The acquisition represents a strategic expansion of McEwen's portfolio, which already includes gold and silver production in prolific mineral-rich regions such as the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada, and the Deseado Massif in Santa Cruz province, Argentina. The company is also considering reactivating a gold and silver mine in Mexico. This transaction enhances McEwen's asset base at a time when the company is focused on building profitability and share value, with Chairman and Chief Owner Rob McEwen having invested over US$200 million personally and taking a salary of $1 per year to align his interests with shareholders.

Beyond its precious metals operations, McEwen maintains 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.

The completion of this business combination comes as McEwen continues to execute on its growth strategy across the Americas. The Tartan project acquisition provides the company with additional development potential in a sector where consolidation and strategic asset accumulation are increasingly important for long-term viability. For investors seeking exposure to mining assets, the latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX. The transaction underscores McEwen's commitment to expanding its resource base while maintaining alignment between management and shareholder interests through significant personal investment from its leadership.