McEwen Mining Reports Q1 Results, Outlines Path to 300,000 GEOs by 2030

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported first-quarter 2026 financial results on Tuesday, detailing progress across its portfolio of gold, silver, and copper projects in the Americas. The company outlined a clear pathway to achieve its ambitious target of producing 250,000 to 300,000 gold equivalent ounces (GEOs) annually by 2030, a significant increase from current levels, supported by robust gold prices and advancing development projects.

Key operational highlights include the advancement of the Stock and Grey Fox mines in Ontario, Canada, which are expected to contribute to near-term production growth. The company also reported resource expansion at the Tartan and Windfall properties, while advancing expansion initiatives at the Gold Bar mine in Nevada and the El Gallo mine in Mexico. These projects are central to McEwen's strategy to diversify and increase its production base.

Beyond precious metals, McEwen is progressing the Los Azules copper project in Argentina through its 46.3% owned subsidiary, McEwen Copper. According to the last financing round, the implied value of McEwen's stake in Los Azules is approximately US$456 million, or US$7.67 per share. The project is designed to be one of the world's first regenerative copper mines and aims to achieve carbon neutrality by 2038. A feasibility study was released in October 2025, underscoring the project's potential.

In a strategic diversification move, McEwen recently acquired a 27.3% interest in Paragon Advanced Labs Inc., a company deploying PhotonAssay technology for precious and base metals analysis. McEwen believes this technology could become the new industry standard for assaying, and Paragon aims to be a leading service provider.

Chairman and Chief Owner Rob McEwen has invested over US$250 million personally in the company and takes an annual salary of $1, aligning his interests with shareholders. His stated objective is to build McEwen's profitability, share value, and ultimately implement a dividend policy, similar to his success with Goldcorp Inc.

The company's shares trade on the NYSE and TSX under the ticker MUX. For the full press release, visit https://ibn.fm/qiAmR. Further information is available in the company's newsroom at https://ibn.fm/MUX.