McEwen Inc. (NYSE: MUX) (TSX: MUX) announced it has filed NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada. The reports support previously released prefeasibility and mineral resource estimates, providing detailed insights into the projects' potential.
The Grey Fox report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project demonstrates strong economic viability, with a post-tax net present value (NPV) of $282 million at a $3,000-per-ounce gold price, increasing to $841 million at $4,500 gold. This highlights the project's sensitivity to gold prices and its potential to generate significant returns in a rising gold price environment.
For the Nevada projects, the Lookout Mountain and Windfall technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. Most contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing—a cost-effective extraction method that could enhance project economics and reduce environmental footprint.
The technical reports are available through the company’s SEDAR+ filings and support previously announced project results. These filings are crucial for investors and industry stakeholders as they provide independent verification of the mineral resource and reserve estimates, underpinning McEwen's asset base.
McEwen Mining is a diversified precious metals producer with operations in the Americas. The company's gold and silver 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 Argentina. Additionally, McEwen is reactivating its gold-silver El Gallo Mine in Mexico.
The company also holds a 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in Argentina. The Los Azules project is designed to be one of the world’s first regenerative copper mines and aims to be carbon neutral by 2038. The feasibility study results were announced in a press release dated October 7, 2025. 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).
Furthermore, McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a company deploying PhotonAssay units worldwide. McEwen believes this technology is poised to become the new industry standard for assaying precious and base metals.
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.
The filing of these technical reports is a significant step for McEwen Mining, as it provides the market with detailed data on key assets. For investors and industry observers, the reports confirm the quality and economic potential of the Grey Fox project and the Nevada deposits, which could contribute to future production growth and shareholder value. The results also underscore the importance of gold price assumptions in project valuations, highlighting the leverage to rising gold prices.
