Mr. Rob McEwen reports

MCEWEN MINING CLOSES FLOW-THROUGH FINANCING

McEwen Mining Inc. has closed the previously announced private placement financing of 1,903,000 flow-through common shares for total gross proceeds of $16.1-million (U.S.) ($22,016,150).

The proceeds of this financing will be used exclusively for qualifying Canadian Exploration Expenditures (CEE) and Canadian Development Expenditures (CDE), within the meaning of subsection 66(15) of the Income Tax Act (Canada), on McEwen Mining's properties in the Timmins region:

Part 1 (CEE) of the financing consists of a US$7.3 million (Cdn$10,007,600) private placement of 788,000 flow-through common shares at a price of US$9.27 (Cdn$12.70); and

Part 2 (CDE) of the financing consists of a US$8.8 million (Cdn$12,008,550) private placement of 1,115,000 flow-through common shares at a price of US$7.86 (Cdn$10.77), (Part 1 and Part 2 together being the "Offering").

Cantor Fitzgerald Canada Corporation and Roth Capital Partners, LLC are acting as exclusive co-lead placement agents for the Offering and PearTree Canada structured the flow-through donation placement.

ABOUT MCEWEN MINING

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns approximately 47.7% of McEwen Copper which owns the large, advanced stage Los Azules copper project in Argentina. The Company's goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, Chairman and Chief Owner has personally provided the Company with $220 million and takes an annual salary of $1.

We seek Safe Harbor.