Ms. Mihaela Iancu reports

IFC SUPPORTS MCEWEN COPPER THROUGH KEY COLLABORATION TOWARDS SUSTAINABLE FINANCING FOR LOS AZULES

The International Finance Corp., a member of the World Bank Group, and McEwen Copper Inc., a subsidiary of McEwen Inc., have signed a collaboration agreement to support aligning the Los Azules copper project with IFC's environmental, social and governance (ESG) standards for potential future debt and equity financing, an important milestone in McEwen Copper's broader financing strategy for the project.

Situated in Argentina's San Juan province, Los Azules is one of the world's largest undeveloped copper deposits. The project has secured environmental impact declaration (EIA) approval, and its feasibility study is slated for completion by October, 2025. McEwen Copper has also applied for Argentina's Large Investment Incentive Regime (RIGI). Upon completion of final engineering and securing financing, Los Azules is positioned to begin construction, underscoring the company's dedication to sustainable mining practices that drive economic growth, job creation, and social development in San Juan and beyond.

The agreement emphasizes integrating IFC's Performance Standards on Environmental and Social Sustainability into Los Azules's development. This initiative is intended to derisk the project, align it with the criteria required for international investors, and support Argentina's mining sector by promoting greater transparency, reduced carbon emissions and community benefits.

"We are pleased to be collaborating with McEwen Copper on the Los Azules project, to help it align with IFC performance standards and lay the ground for international project financing," stated Manuela Adl, IFC's senior country manager for Argentina.

"Through this project, IFC also seeks to encourage greater investment in Argentina's mining sector and support its sustainable development. The World Bank Group is supporting Argentina to unlock its mining and metals industry potential in a sustainable way, maximize positive impacts for the country, create jobs and support local economic development, including FX revenues."

"This IFC collaboration is a game-changer for Los Azules -- it will help us align with top-tier sustainability standards while paving the way for IFC as a potential lead lender and equity partner, driving value for shareholders and Argentina alike," commented Rob McEwen, chairman and chief owner of McEwen Inc.

"We're excited to collaborate with IFC experts to embed IFC's performance standards into our design and operations. This pro-active ESG integration, paired with a solid financing framework, bolsters Los Azules's path to success and elevates its appeal to global investors," added Michael Meding, vice-president and general manager of McEwen Copper.

About McEwen Inc.

McEwen is a gold and silver producer with operations in the Americas: Nevada (United States), Canada, Mexico and Argentina. In addition, the company holds 46.4 per cent of McEwen Copper, developer of the advanced-stage Los Azules copper project. Los Azules aims to be Argentina's first regenerative copper mine, targeting carbon neutrality by 2038. A June, 2023, preliminary economic assessment (PEA) estimates a $2.7-billion after-tax NPV (net present value) (8 per cent) at $3.75/pound Cu (copper), a 27-year mine life and copper resources of 10.9 billion pounds at 0.40 per cent Cu indicated plus 26.7 billion lb at 0.31 per cent Cu inferred. For PEA details, visit McEwen's press release.

The company's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol MUX.

About McEwen Copper Inc.

McEwen Copper owns 100 per cent of the Los Azules copper project in San Juan, Argentina, and the Elder Creek copper-gold project in Nevada, United States. Ranked among the top 10 undeveloped copper deposits globally by Mining Intelligence (2022), Los Azules is being designed to be distinctly different from conventional copper mines by consuming significantly less water, emitting much lower carbon and operating on 100-per-cent renewable electricity.

We seek Safe Harbor.