McEwen Mining Receives $49.4 Million Dividend from San José Mine, Surpassing Full-Year Guidance

McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has received a $49.4 million dividend from the San José Mine in Argentina, bringing total dividends received from the operation in 2026 to $58.2 million. This amount already exceeds the company’s original full-year expectation of $40 million to $50 million, underscoring the mine’s strong cash generation.

The dividend further strengthens McEwen’s balance sheet as the company looks to fund planned production growth through internally generated cash. McEwen aims to double its production to 250,000 to 300,000 gold equivalent ounces by 2030, leveraging its portfolio of gold, silver, and copper assets across the Americas.

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. Its mines are located 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 the press release dated October 7, 2025.

McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world. The company believes this technology is 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 information on McEwen, visit the company’s newsroom at https://ibn.fm/MUX.