McEwen Inc. Completes Acquisition of Golden Lake Exploration, Boosting Nevada Gold Portfolio

McEwen Inc. (NYSE: MUX) (TSX: MUX) announced the completion of its business combination with Golden Lake Exploration Inc. (CSE: GLM) (OTCQB: GOLXF), a strategic move that adds the Jewel Ridge projects in Nevada to McEwen’s existing Gold Bar Mine Complex. The transaction, executed via a statutory plan of arrangement, saw Golden Lake shareholders receive 0.003876 McEwen shares for each share held. This acquisition supports McEwen’s strategy to expand exploration and extend the life of its Nevada operations, a key region in the company’s portfolio.

Golden Lake shares are expected to be delisted, and the company will cease its reporting obligations. The full details of the press release are available at https://ibn.fm/ppkCD.

McEwen’s 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, alongside a large copper development project, all located in the Americas. Its 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. Additionally, McEwen is reactivating its gold-silver El Gallo Mine in Mexico.

The company holds a 46.3% interest in McEwen Copper, which owns the 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 aims to be carbon neutral by 2038. Its Feasibility Study results were announced in a press release dated October 7, 2025, which can be found at https://ibn.fm/MUX.

McEwen also recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units worldwide. This technology is believed by the company to be poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.

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

The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.

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