Mr. Robert McEwen reports

EVANACHAN LIMITED FILES EARLY WARNING REPORT IN CONNECTION WITH PRIVATE PLACEMENT IN GINGURO EXPLORATION INC.

Evanachan Ltd. has subscribed, by way of a private placement, for 10 million units of Ginguro Exploration Inc. at a price of 10 cents per unit for an aggregate of $1-million. Each unit consists of one common share and one-half of one Series 2013-1 share purchase warrant. Each 2013-1 share purchase warrant entitles Evanachan to purchase one additional common share in Ginguro at a price of 15 cents for a period of 24 months from the date of issuance thereof. The transaction closed in escrow on Sept. 12, 2013. The common shares comprising, in part, the units, represents approximately 12 per cent of the issued and outstanding common shares of Ginguro immediately postclosing (or approximately 17 per cent on a partially diluted basis assuming exercise of the share purchase warrants comprising the units only). The common shares were issued from Ginguro's treasury.

Upon completion of the transaction, Evanachan owns and controls 15,375,000 common shares representing approximately 18.5 per cent of the common shares of Ginguro outstanding immediately postclosing, together with 7.5 million common share purchase warrants exercisable into an equal number of common shares, for a total of 22,875,000 shares of Ginguro, representing approximately 25.3 per cent of Ginguro's common shares (assuming the exercise of warrants currently held by Evanachan only).

Evanachan entered into the transaction for investment purposes, and may increase or reduce its investment in Ginguro according to market conditions or other relevant factors.

A copy of the early warning report filed in connection with the transaction will be made available on SEDAR.