Recent Discovery at Froome Mine Expands Along Strike and Down-Dip; Drilling at Depth Shows Potential to Extend Mine Life: 7.7 gpt gold over 20.4 m & 23.5 gpt gold over 3.7 m (true widths)
TORONTO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX:MUX) is pleased to announce new drill results from its Froome Mine, part of the Fox Complex in Timmins, Ontario (Figure 1). Based on our confidence in the geological potential, four drills are now active at Froome West, targeting further expansion of these excellent results.
Why These Drill Results Are Important to Our Investors
1. Significant Extension of High-Grade Mineralization
- Extended the higher-grade gold mineralization by 100 meters vertically, representing a 45% increase since our last update in July 2025.
2. Potential to Extend Froome's Mine Life and Improve Economics
- Greater mining flexibility, enabling higher production and lower costs.
- Mill feed from multiple sources from H2 2026, including the Stock Mine currently under development.
- Continued exploration success could enable concurrent mining at Froome and Stock, supporting a meaningful extension of operations.
Unless specified as core widths (CW), all assay intervals in this press release are presented as true widths (TW).
Froome West Drill Highlights
a) Some of the deepest intersections to date confirm that gold mineralization remains open at depth, providing confidence that additional resources exist below the currently planned limit of the mine. Follow-up drilling around these results aim to extend the mineralization and mine life at Froome (Figure 2).
- Drillhole 25PR-G475 returned 23.5 gpt gold over 3.7 meters and 11.5 gpt gold over 1.6 meters.
- Drillhole 25PR-G487 returned 4.6 gpt gold over 8.1 meters.
b) Gold mineralization was extended up to 50 meters West, potentially increasing the number of defined ounces per vertical meter, an important metric in lowering future production and development costs per ounce (Figure 2).
- Drillhole 25PR-G454 returned 7.9 gpt gold over 6.4 meters.
- Drillhole 25PR-G457 returned 7.5 gpt gold over 4.4 meters.
c) Drilling near recently completed underground infrastructure returned highly promising grades as seen below (Figure 2). Due to their proximity to existing underground development, the Company anticipates mining these areas during H1 2026.
- Drillhole 25PR-G478 returned 6.1 gpt gold over 10.4 meters.
- Drillhole 25PR-G467 returned 7.7 gpt gold over 20.4 meters.
Table 1. Highlights of recently received results from the drilling programs at Froome West.
| HOLE-ID | FROM (m) | TO (m) | CW (m) | TW (m) | Au Grade (gpt) | GXM (TW) (gpt x m) |
| 25PR-G433 | 68.7 | 69.3 | 0.6 | 0.5 | 27.7 | 14.0 |
| 25PR-G441 | 190.6 | 194.3 | 3.7 | 2.9 | 7.4 | 21.1 |
| 25PR-G449 | 321.0 | 326.0 | 5.0 | 3.9 | 7.1 | 27.9 |
| 25PR-G450 | 310.0 | 314.0 | 4.0 | 3.3 | 4.5 | 15.2 |
| 25PR-G451 | 313.0 | 319.0 | 6.0 | 2.6 | 6.0 | 15.6 |
| 25PR-G454 | 169.0 | 176.0 | 7.0 | 6.4 | 7.9 | 50.7 |
| 25PR-G457 | 215.4 | 221.0 | 5.6 | 4.4 | 7.5 | 33.1 |
| 25PR-G458 | 127.0 | 131.0 | 4.0 | 2.8 | 4.3 | 12.3 |
| 25PR-G459 | 136.9 | 141.7 | 4.7 | 3.1 | 3.3 | 10.3 |
| 25PR-G467 | 298.0 | 329.0 | 31.0 | 20.4 | 7.7 | 156.6 |
| 25PR-G468 | 284.0 | 288.0 | 4.0 | 1.5 | 12.0 | 18.5 |
| 25PR-G475 | 288.0 | 293.0 | 5.0 | 3.7 | 23.5 | 87.5 |
| 25PR-G475 | 356.0 | 358.0 | 2.0 | 1.6 | 11.5 | 18.4 |
| 25PR-G477 | 319.4 | 325.4 | 6.0 | 4.5 | 3.4 | 15.4 |
| 25PR-G478 | 328.0 | 343.0 | 15.0 | 10.4 | 6.1 | 63.8 |
| 25PR-G487 | 358.0 | 369.1 | 11.1 | 8.1 | 4.6 | 37.1 |
Note: Numbers may not sum due to rounding.
Figure 1. Location of Froome West and Froome Mine relative to Black Fox and Grey Fox. Also shown are the section lines seen in Figures 3 and 4.
Figure 2. Longitudinal section (looking East Northeast) for Froome West and Froome Main.
Figure 3. Cross section looking Northwest, showing the orientation of the two limbs (South and North) and the existing and proposed development (shown as blue squares) from Froome Main.
Figure 4. Cross section looking Northwest, showing some of the high-grade intercepts at Froome West.
Next Steps at Froome
Surface diamond drilling will continue into Q1 2026 to further define the mineralization that remains open to the West and at depth.
Underground access on four separate levels has been established in the upper portion of Froome West, and mining has commenced. Three deeper levels are under development to access mineralization defined by the recent drilling (Figures 2 to 4).
McEwen plans to publish an updated resource estimate for Froome West at the end of February 2026.
A table of drill results at Froome West from July 16th, 2025 to date, which includes hole locations and alignments, is available on the Company's website and can be accessed by clicking here.
Technical Information
Technical information pertaining to the Fox Complex exploration contained in this press release has been prepared under the supervision of Sean Farrell, P.Geo., McEwen Ontario's Exploration Manager, who is a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects."
Analyses reported herein were submitted either i) as full core samples and assayed by the photon assay method at the accredited laboratory Paragon Geochemical (ISO 17025), Hamilton, Ontario. McEwen recently signed an agreement to acquire 31% of Paragon Geochemical Laboratories; ii) as full core samples and assayed by the fire assay method at the Fox Complex assay lab located at the Stock Mill in Matheson, Ontario; iii) as full core samples and assayed by the photon assay method at the accredited laboratory MSA Labs (ISO 9001 & ISO 17025) in Timmins, Ontario. As part of our regular QA/QC program McEwen Inc. submits certified reference materials and blanks in the sample stream for the monitoring and assessment of laboratory processes and procedures.
ABOUT MCEWEN
McEwen shares trade on both the NYSE and TSX under the ticker MUX.
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 in prolific mineral-rich regions of the world: the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.
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 – a region that hosts some of the country's largest copper deposits. 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, with a commitment to achieving carbon neutrality by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.
Chairman and Chief Owner Rob McEwen has personally invested over US$200 million 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 eventually implement a dividend policy, as he did while building Goldcorp Inc.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen.
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