McEwen Inc. Completes Acquisition of Golden Lake Exploration, Adding Nevada Projects

McEwen Inc. (NYSE: MUX) (TSX: MUX) and Golden Lake Exploration Inc. (CSE: GLM) (OTCQB: GOLXF) have announced the completion of their previously disclosed business combination. The transaction was executed through a statutory plan of arrangement, under which Golden Lake shareholders received 0.003876 McEwen shares for each share held. This acquisition adds Golden Lake's Jewel Ridge projects in Nevada to McEwen's Gold Bar Mine Complex, supporting the company's strategy to expand exploration and extend mine life. Golden Lake shares are expected to be delisted, and the company will cease its reporting obligations.

The integration of the Jewel Ridge projects is a strategic move for McEwen, as it enhances the company's presence in the prolific Cortez Trend in Nevada. The Gold Bar Mine Complex is a key asset for McEwen, and the addition of adjacent exploration ground is expected to provide opportunities for resource expansion and potential new discoveries. This aligns with McEwen's broader objective of growing its gold and silver production base while advancing its large copper development project in Argentina.

McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders with exposure to a growing base of gold and silver production, in addition to a very large copper development project, all located in the Americas. The gold and silver mines are situated in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.

The company holds a 46.3% 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 (US$7.67 per share). 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 also recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world. This technology is believed to be poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.

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

For more details on the transaction, the full press release is available at https://ibn.fm/ppkCD. The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX.