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McEwen Mining Inc
Symbol MUX
Shares Issued 459,187,226
Close 2021-09-28 C$ 1.36
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McEwen Mining appoints Shaver as director

2021-09-29 09:05 ET - News Release

An anonymous director reports

MCEWEN MINING: DIRECTOR APPOINTMENT AND LOS AZULES UPDATE

McEwen Mining Inc. has appointed William (Bill) Shaver, PEng, to the board of directors effective immediately.

Mr. Shaver is a seasoned mining executive with over 50 years of management and executive experience in all facets of mine design, construction and operations. In 1980, he was a founder of Dynatec Corp., which became one of the leading contracting and mine operating groups in North America. In 2013, he was recognized as the Ernst and Young Entrepreneur of the Year for his devotion to bringing innovation to the mining industry. Most recently, he served as chief operating officer of INV Metals before its sale to Dundee Precious Metals. He completed the technician program at the Haileybury School of Mines and is a professional engineer with a BSc in mining engineering from Queens University in Kingston. He is also a designated independent corporate director, having received his ICD.D designation in 2019.

Mr. Shaver replaces Gregory Fauquier, who has resigned from the board of directors after seven years of distinguished service to the company. The company sincerely thanks Mr. Fauquier for his contributions and wishes him well in all his future endeavours.

Los Azules project, Argentina

The McEwen Copper division, 81 per cent owned by McEwen Mining, is rapidly advancing work on the Los Azules project following the completion of the $40-million (U.S.) first tranche private placement financing announced Aug. 23, 2021. The second tranche of the private placement is expected to close shortly. Preparations are under way for a large 53,000-metre drilling program targeting the upgrading of inferred mineral resources to the indicated category. The first two drill rigs are arriving in early November, 2021, ramping up to the full complement of 10 drills by January, 2022. Access to the project is currently being established on the existing exploration road, which has been safely cleared by crews 48 miles (78 kilometres) of the route, approximately three-quarters of the way to the project. Construction of a new all-season lower altitude access road is under way, with completion expected in H2 2022.

McEwen Copper has engaged an experienced group of professionals and consultants to guide the Los Azules project toward the prefeasibility study stage, including Dave Tyler, study director, Gary Cochran, project and construction manager, and Bill Thomas, manager of business improvement and operational readiness.

Mr. Tyler, study director

Mr. Tyler is a senior mining executive with over 30 years of expertise in innovation, planning, engineering, permitting, start-up and operations of successful mines internationally. He has authored multiple feasibility studies of major precious and base metals mining projects globally, including South America. Mr. Tyler was previously the study director for Newmont Mining, vice-president of technical services for Coeur Mining and the vice-president project development for Twin Metals, leading a $1.1-billion copper-nickel development project near an environmentally sensitive national wilderness area.

Mr. Cochran, project and construction manager

Mr. Cochran is a seasoned mining and construction professional with over 35 years of experience in surface mining and associated construction works. He has successfully led multiple large-scale projects and has trained personnel to high standards of safe economical operation in all aspects of mining and construction. Mr. Cochran was the construction and project manager for Hudbay Minerals' Constancia copper mine in Peru. He also managed the El Brocal zinc open-pit mine operations in Peru. Mr. Cochran was a manager for Anglo American's Quellaveco mine in Peru and was involved in managing winter operations as an adviser to Barrick's Veladero project in Argentina.

Mr. Thomas, manager of business improvement and operational readiness

Mr. Thomas is a project consulting engineer experienced in facility design optimization, mineral processing, asset management, logistics, safety, training and change management. Mr. Thomas was a project consultant to Hudbay Minerals' Constancia project in Peru, as well as project consultant to both Newmont and Freeport, responsible for defining core business processes to support capital effectiveness and delivery of low-cost, high-productivity business-ready facilities.

Technical information

The technical contents of this news release have been reviewed and approved by G. Peter Mah, PEng, COO of McEwen Mining and a qualified person as defined by Canadian Securities Administrators National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About McEwen Mining Inc.

McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina.

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