McEwen Mining Reports Promising Assay Results from Stock Property in Timmins, Ontario

McEwen Mining Inc. has announced encouraging assay results from its Stock Property, located near Timmins, Ontario. The company’s geological investigations have identified two principal plunge directions that control mineralization at Stock, originating from the “Ramp Portal Zone.” The latest assay results from 21 diamond drillholes in key target areas at the Stock West Project have shown significant gold grades and widths.

In the Ramp Portal Zone, drilling has consistently encountered good grades and widths at shallow depths, close to the surface entrance portal of the planned ramp. The development of this ramp, scheduled to begin in December, holds the potential for early mining and cash flow, making it partially self-funding. Notable gold assay results from this zone include 21.6 g/t Au over 5.1 m in drillhole SM23-201.

The Shallow Plunge Zone has also shown promising results, with good-grade mineralization extending beyond the current Stock West resource. Drillhole SM23-308 returned 38.5 g/t Au over 7.4 m, indicating the potential to expand the resource base and shorten the payback period. These results, coupled with the positive grades near the Ramp Portal Zone, suggest the possibility of extending the mine life outlined in the January 2022 Preliminary Economic Assessment for the Fox Complex.

The Steep Plunge Zone represents the longer-term potential for the Stock West Project. Drillhole S23-306 returned 2.6 g/t Au over 24.3 m, indicating the continuation of mineralization at depth. The observed widths in this zone continue to impress and suggest further mineralization at deeper levels.

Two intriguing results have also been identified. One assay result from the footwall of the Stock West resource within a Timiskaming-aged sedimentary wedge returned 98.8 g/t Au over 0.9 m. This result demonstrates the potential for narrow, high-grade gold values in a unit previously not considered to carry significant mineralization. The second result, located approximately 250 meters down-dip and down-plunge from Stock West, returned 3.0 g/t Au over 5.3 m, indicating the presence of the mineralized system outside the current resource model.

McEwen Mining plans to complete an updated mineral resource estimate for the Stock deposit in the fourth quarter of this year. The company’s Chief Exploration Geologist, Sean Farrell, who supervised the technical information, expressed optimism about the potential of the Stock Property.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico, and Argentina. The company also holds a majority stake in McEwen Copper, which owns the Los Azules copper project in Argentina. With promising assay results from the Stock Property, McEwen Mining is well-positioned to continue its growth and contribute to the mining industry in Timmins, Ontario.