Reported Earlier, McEwen Mining Prices $22M Flow-Through Financing At 19% Premium For Canadian Exploration Expenses

The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenses (within the meaning of subsection 66.1(6) of the Income Tax Act (Canada)) ("CEE") and Canadian Development Expenses (within the meaning of subsection 66.2(5) of the Income Tax Act (Canada)) ("CDE"), including:

Part 1 (CEE) of the financing consists of a US$10.0 million (Cdn$13,650,890) offering of 643,000 flow-through common shares at a price of US$15.56 (Cdn$21.23); and

Part 2 (CDE) of the financing consists of a US$12.0 million (Cdn$16,384,900) offering of 890,000 flow-through common shares at a price of US$13.49 (Cdn$18.41),

(Part 1 (CEE) and Part 2 (CDE) together being the "Offering").

The Offering of 1,533,000 flow-through common shares for aggregate gross proceeds of US$22.0 million (Cdn$30,035,790) is expected to close on June 14, 2024 (the "Closing") and is subject to customary closing conditions, including approval from the Toronto Stock Exchange ("TSX") and New York Stock Exchange ("NYSE"). Total proceeds from the Offering net of placement agents' fees is expected to be US$20.9 million (Cdn$28,534,000).