Mr. Rob McEwen reports

MCEWEN MINING ANNOUNCES US$25 MILLION REGISTERED DIRECT OFFERING

McEwen Mining Inc. has entered into definitive agreements with an institutional investor and certain directors and officers of the company, including Rob McEwen, pursuant to which such investors have agreed to purchase units of the company for aggregate gross proceeds of $25-million (U.S.) in a registered direct offering.

McEwen Mining intends to use the net proceeds from this offering to fully finance its current mining projects and exploration prospects, for additional operating capital, and for general working capital purposes.

Rob McEwen, chairman and chief owner of McEwen Mining, stated, "I am pleased to say that this financing provides us with the flexibility we need to take advantage of additional opportunities at our operations."

McEwen Mining is a growing gold and silver miner that produced 176,000 ounces gold equivalent in 2018. It owns interests in several mines, two of which are located in the world's top gold mining jurisdictions of Nevada and Timmins. In addition, it owns a large undeveloped copper deposit in Argentina.

Each unit is priced at $1.55 and consists of a share of common stock and one-half of a warrant to purchase common stock. Each full warrant is exercisable into one share of common stock. The warrants are immediately exercisable and have a term of three years and an exercise price of $2.

Roth Capital Partners and AGP/Alliance Global Partners are acting as exclusive lead placement agents for the units offered in the United States and internationally (except Canada). Maison Placements is acting as exclusive placement agent for the units offered in Canada.

The offering is expected to close on March 29, 2019, and is subject to customary closing conditions, including approvals from the Toronto Stock Exchange and the New York Stock Exchange. The subscription by insiders is subject to shareholder approval at the annual general meeting of shareholders to be held on May 23, 2019.

The shares of common stock and warrants described herein are being offered in the United States pursuant to an effective shelf registration statement (file No. 333-224476) that was filed with the Securities and Exchange Commission (the SEC) and was declared effective by the SEC on July 6, 2018. The securities may be offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus will be filed with the SEC. The prospectus supplement and accompanying prospectus, when filed, will be available on the SEC's website and may also be obtained from Roth Capital Partners at 888 San Clemente Dr., Suite 400, Newport Beach, Calif., 92660, or by phone at 800-678-9147.

McEwen intends to file a Canadian MJDS (Multijurisdictional Disclosure System) prospectus supplement to the Canadian MJDS base-shelf prospectus dated Aug. 8, 2018, with respect to the offering in Canada.

About McEwen Mining Inc.

McEwen has the goal to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas. McEwen's principal assets consist of: the San Jose mine in Santa Cruz, Argentina (49-per-cent interest); the Black Fox mine in Timmins, Canada; the Fenix project in Mexico; the Gold Bar mine in Nevada; and the large Los Azules copper project in Argentina, advancing toward development.

McEwen has approximately 346 million shares outstanding. Mr. McEwen owns 23 per cent of the shares.

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