Mr. Rob McEwen reports

MCEWEN TO ACQUIRE 31% STRATEGIC INTEREST IN PARAGON GEOCHEMICAL, LEADER OF PHOTONASSAY TECHNOLOGY FOR THE MINING SECTOR

McEwen Inc. has signed agreements to acquire an approximately 31-per-cent equity interest in Britannia Mining Solutions Inc., on a fully diluted basis. Britannia operates under the name Paragon Geochemical Laboratories Inc., a provider of advanced analytical services to the mining industry (collectively referred to as Paragon). Paragon is recognized for its deployment of PhotonAssay, a technology that McEwen believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the world's leading service providers.

PhotonAssay is a rapid, accurate and non-destructive method for assaying gold, silver and base metals that is transforming industry standards. It offers significant advantages over traditional fire assay techniques, including faster turnaround times, improved accuracy and enhanced environmental safety. Paragon is deploying this technology to position itself at the forefront of analytical innovation in the mining sector.

Paragon is an ISO 17025:2017-accredited geochemical laboratory serving mining clients across North America and soon globally. The company is young with aggressive growth plans. It currently operates three laboratories, with eight additional sites to be constructed in key mining regions around the world over the next two years. Paragon is also in the process of becoming publicly traded.

McEwen currently employs PhotonAssay in its exploration programs at the Fox complex in Ontario, Canada, and the Gold Bar mine complex in Nevada, United States. The technology enables faster data-driven decisions, optimizes drilling strategies and accelerates exploration timelines.

McEwen will acquire this strategic investment by purchasing 648,002 shares of Paragon from Britannia Life Sciences Inc. and 226,286 shares from Paragon through a private placement, both at a deemed price of $17.50 per Paragon share and payable in shares of McEwen, representing a total investment of $15.3-million.

Upon completion of the transaction, McEwen will become Paragon's largest shareholder. Ian Ball, vice-chairman of McEwen, will join Paragon's board at the time of listing. In addition, McEwen will have the right to nominate one additional board member.

About McEwen Inc.

McEwen shares trade on both the New York Stock Exchange and the Toronto Stock Exchange under the ticker MUX.

McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world: the Cortez trend in Nevada, United States, the Timmins district of Ontario, Canada, and the Deseado massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.

The company has a 46.4-per-cent interest in the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina -- a region that hosts some of the country's largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is $456-million (U.S.).

The Los Azules copper project is designed to be one of the world's first regenerative copper mines, with a commitment to achieving carbon neutrality by 2038. Its feasibility study results were announced in the press release dated Oct. 7, 2025.

Chairman and chief owner Rob McEwen has invested over $200-million (U.S.) personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build McEwen's profitability and share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.

We seek Safe Harbor.