The TSX Venture Exchange has accepted for filing documentation in connection with the merger involving Timberline Resources Corp., McEwen Mining Inc. and Lookout Merger Sub Inc., a direct, wholly owned subsidiary of McEwen, pursuant to the terms of an agreement and plan of merger dated April 16, 2024.

Pursuant to the terms of the merger, each holder of shares of common stock of Timberline will receive 0.01 of one share of common stock in the capital of McEwen in exchange for each Timberline share held.

The exchange has been advised that approval of the merger by stockholders of Timberline was received at a special meeting of stockholders held on Aug. 16, 2024. The exchange has been advised that the merger closed on Aug. 19, 2024. The full particulars of the merger are set forth in Timberline's definitive proxy statement on Schedule 14A dated July 12, 2024, filed with the U.S. Securities and Exchange Commission, which is available under Timberline's profile on SEDAR+.

Delisting

Further to the completion of the merger, effective at the close of business, Wednesday, Aug. 21, 2024, the Timberline shares will be delisted from the exchange at the request of Timberline.