NYSE:
MUX

$1.93
+0.04 +2.12% Volume: 394,474 September 25, 2018
TSX:
MUX

$2.48
+0.04 +1.64% Volume: 20,500 September 25, 2018

Reserves & Resources

Gold Resources

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MEASURED INDICATED MEASURED + INDICATED INFERRED
Au
Resources
Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces 
Argentina                        
San José (49%) 0.8 8.37 208,000 0.8 6.76 176,000 1.6 7.55 385,000 0.4 6.68 92,000
Los Azules       962.0 0.06 1,700,000 962.0 0.06 1,700,000 2,666.0 0.04 3,800,000
Mexico                        
El Gallo Silver 1.1 0.09 3,000 4.4 0.13 19,000 5.5 0.12 22,000 0.6 0.38 7,000
Palmarito 1.7 0.38 20,000 0.01 0.23 0 1.7 0.38 20,000 0.5 0.30 5,000
Palmarito Dumps 0.2 0.29 2,000 0.1 0.24 1,000 0.2 0.28 2,000 - - -
Carrisalejo - - - 0.4 0.11 1,000 0.4 0.11 1,000 0.04 0.02 0
El Encuentro - - - 0.5 1.87 32,000 0.5 1.87 32,000 0.2 5.68 35,000
El Gallo Heap Leach Pad - - - 4.7 0.56 84,000 4.7 0.56 84,000 4.4 0.72 101,000
US                        
Tonkin 17.5 1.44 820,000 14.7 1.34 627,000 32.3 1.39 1,447,000 8.4 1.13 311,000
Gold Bar Project 2.8 1.17 106,000 21.7 0.88 615,000 24.5 0.92 721,000 6.8 0.9 197,000
Gold Bar South - - - 3.2 0.99 101,000 3.2 0.99 101,000 0.1 1.44 5,000
New Pass (50%) 5.0 0.97 156,000 0.1 0.59 1,000 5.1 0.97 157,000      
Limo 5.9 0.89 168,000 3.7 0.61 73,000 9.6 0.78 241,000 2.2 0.70 51,000
Canada                        
Timmins, Open Pit 0.5 2.44 36,000 12.1 1.89 741,000 12.6 1.91 777,000 6.3 1.79 358,000
Timmins, Underground 0.4 5.56 64,000 4.1 4.82 628,000 4.4 4.88 692,000 4.2 4.35 596,000
Black Fox Underground - - - 2.3 7.90 576,000 2.3 7.90 576,000 - - -
Tamarack - - - 0.8 1.83 46,000 0.8 1.83 46,000 - - -
Grey Fox Underground - - - 2.2 6.64 465,000 2.2 6.64 465,000 0.5 6.83 100,000
Froome Underground - - - 1.1 5.09 181,000 1.1 5.09 181,000 0.02 4.62 2,000
Stock East
Open Pit
- - - - - - - - - 0.8 1.58 40,000
Stock East
Underground
- - - - - - - - - 0.6 3.85 73,000
TOTAL     1,582,000     6,068,000     7,649,000     5,773,000

Silver Resources

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MEASURED INDICATED MEASURED + INDICATED INFERRED
Ag Resources  Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces  Tonnes (millions) Grams per tonne Ounces 
Argentina                        
San José (49%) 0.8 583 14,504,000 0.8 427 11,123,000 1.6 503 25,627,000 0.4 360 4,949,000
Los Azules       962.0 2 55,700,000 962.0 2 55,700,000 2,666.0 2 135,400,000
Mexico                        
El Gallo Silver 1.1 150 5,088,000 4.4 120 17,053,000 5.5 125 22,140,000 0.6 82 1,488,000
Palmarito 1.7 136 7,245,000 0.01 148 52,000 1.7 136 7,297,000 0.5 133 2,258,000
Palmarito Dumps 0.2 177 1,007,000 0.1 154 338,000 0.2 170 1,345,000 - - -
Carrisalejo - - - 0.4 116 1,454,000 0.4 116 1,454,000 0.04 821 1,111,000
El Encuentro - - - 0.5 2 42,000 0.5 2 42,000 0.2 19 117,000
US                        
New Pass (50%) 5.0 8 1,320,000 0.1 3 7,000 5.1 8 1,326,000      
Canada                        
Tamarack - - - 0.8 26 663,000 0.8 26 663,000 - - -
TOTAL     29,164,000     85,769,000     114,931,000     145,323,000

Copper Resources

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MEASURED INDICATED MEASURED + INDICATED INFERRED
Cu
Resources
Tonnes
(millions)
%
Cu
Cu
(millions lb)
Tonnes
(millions)
%
Cu
Cu
(millions lb)
Tonnes
(millions)
%
Cu
Cu
(millions lb)
Tonnes
(millions)
%
Cu
Cu
(millions lb)
Argentina                        
Los Azules - - - 962.0 0.48 10,200 962.0 0.48 10,200 2,666.0 0.33 19,300

Lead Resources

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MEASURED INDICATED MEASURED + INDICATED INFERRED
Pb Resources  Tonnes (millions) % Pb Contained Pb (t) Tonnes (millions) % Pb Contained Pb (t) Tonnes (millions) % Pb Contained Pb (t) Tonnes (millions) % Pb Contained Pb (t)
Canada                        
Tamarack - - - 0.8 1.08 8,000 0.8 1.08 8,000 - - -

Zinc Resources

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MEASURED INDICATED MEASURED + INDICATED INFERRED
Zn Resources  Tonnes (millions) % Zn Contained Zn (t) Tonnes (millions) % Zn Contained Zn (t) Tonnes (millions) % Zn Contained Zn (t) Tonnes (millions) % Zn Contained Zn (t)
Canada                        
Tamarack - - - 0.8 3.29 26,000 0.8 3.29 26,000 - - -

Gold Reserves

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Proven Probable Proven + Probable
Au
Reserves
Tonnes
(millions)
Grams per
tonne
Ounces Tonnes
(millions)
Grams per
tonne
Ounces Tonnes
(millions)
Grams per
tonne
Ounces
US                  
Gold Bar 2.0 1.27 83,000 12.9 0.96 401,000 15.0 0.99 485,000
Argentina                  
San José (49%) 0.5 6.99 107,000 0.2 6.74 46,000 0.7 6.92 153,000
Canada                  
Black Fox - - - 0.4 8.88 113,000 0.4 8.88 113,000
TOTAL
(included in Resources)
    190,000     560,000     751,000

Silver Reserves

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Proven Probable Proven + Probable
Ag
Reserves 
Tonnes
(millions)
Grams per
tonne
Ounces  Tonnes
(millions)
Grams per
tonne
Ounces Tonnes
(millions)
Grams per
tonne
Ounces
Argentina                  
San José (49%)
(included in Resources)
0.5 490 7,497,000 0.2 384 2,646,000 0.7 457 10,143,000

Black Fox Complex reserve estimates on this page were derived from the technical report titled “Technical Report for the Black Fox Complex, Canada” issued on April 6, 2018 prepared by Dr. Aleksandr Mitrofanov, PGeo, Michael Selby, PEng, Dr. David Machuca, PEng. and Glen Cole, PGeo of SRK Consulting (Canada), Jeff Martin, PEng, (EcoMetrix),  Dr. Nathan Stubina, PEng, Nigel Fung, PEng. and Eric Alexander, PGeo, of McEwen Mining. Contributing Authors, Steven Scott, PGeo, Ali Gelinas, PGeo., Jacob Francoeur, PEng, David Campsall and James Montague. To access the report click here.

Black Fox Complex resource estimate for the Tamarack project was derived from the press release titled “McEwen Mining Announces Potential New Source of Revenue at the Black Fox Complex” published on May 24, 2018. The resource estimate was prepared by Dr. Aleksandr Mitrofanov, P Geo of SRK Consulting, (Canada) Ltd. To access the press release click here.

Black Fox Complex resource estimates for Black Fox Mine and Grey Fox project were derived from the press release titled “McEwen Mining Black Fox Exploration News” published on July 25, 2018 and were prepared by Dr. Aleksandr Mitrofanov, P Geo of SRK Consulting, (Canada) Ltd. To access the press release click here.

Black Fox Complex resource estimate for the Froome project was derived from the press release titled “McEwen Mining Intersects 53.9 g/t Gold Over 8.3 m at the Froome Footwall” published on September 6, 2018 and was prepared by SRK Consulting (Canada) Inc. To access the press release click here.

Black Fox Complex resource estimates for the Stock East project were derived from the press release titled “McEwen Mining Reports Initial Resource and High Grade Drill Intersections at Stock Property” published on September 6, 2018. To access the press release click here.

Gold Bar South resource estimate was derived from the technical report titled “Form 43-101F1 Technical Report Feasibility Study Eureka County, Nevada” with an effective date of March 30, 2018, prepared by Daniel Roth, Benjamin Bermudez, Joseph McNaughton, J.B. Pennington, Justin L. Smith, Daniel H. Sepulveda, Ryan Baker, all qualified persons and independent of McEwen Mining, as defined by NI 43-101. To access the report click here.

Gold Bar Project resource estimate was derived from the press release titled “McEwen Mining Announces Gold Bar Resource Update and New Drill Program” published on September 6, 2018 and was prepared by SRK Consulting (U.S.) Inc. To access the press release click here.

El Gallo Complex resource estimates on this page cover El Gallo Silver, Palmarito, Carrisalejo, El Encuentro and El Gallo Heap Leach Pad. They were derived from the technical report titled "Preliminary Economic Assessment for the Fenix Project at McEwen Mining’s Inc.’s Operations in Sinaloa, Mexico” issued on June 30, 2018 and prepared by Luke Willis, PGeo, Director of Resource Modelling for McEwen Mining Inc. To access the report click here.

Limo resource estimates were derived from a report titled "NI 43-101 Technical Report for the Limousine Butte Project, White Pine County, Nevada" with an effective date of July 1, 2009 prepared by John Welsh, P. Eng., Kim Drossulis, Senior Engineer, Jonathan Brown, M.B.A., C.P.G., Doug Willis, Geologist, Christine Ballard, Project Geotechnical Engineer, Eric Haddox, P. Eng. Each of the report authors is independent of US Gold Corporation and a Qualified Person as defined by NI 43-101. To access the report click here.

Los Azules resource estimates on this page were derived from the technical report titled “NI 43-101 Technical Report-Preliminary Economic Assessment Update for the Los Azules Project, Argentina” with an effective date September 1, 2017, prepared by Donald Brown, C.P. Eng., (McEwen), Michael Bunyard, C. Eng., FAusIMM (Hatch Ltd), Bruce Davis, FAusIMM (BD Resource Consulting Inc), James Duff, P. Geo. (McEwen), Robert Duinker, P. Eng., MBA (Hatch Ltd), James Farrell, P. Eng. (Hatch Ltd), William Rose, P. E. (WLR Consulting Inc), Keith Seddon, C.P.Eng. (ATC Williams Pty Ltd), Robert Sim, P. Geo (SIM Geological Inc).  Each of the report authors is a Qualified Person as defined by NI 43-101 and  Messrs. Bunyard, Davis, Duinker, Farrell, Rose, Seddon, Sim are independent of McEwen Mining Inc. To access the report click here.

San José resources and reserves estimates on this page were derived from the news release titled "McEwen Mining Reports 2017 Full Year and Q4 Results" dated February 22, 2018. To access the news release click here.

Timmins resource estimates on this page were derived from a report titled "Technical Report and Updated Resource Estimate on the Buffalo Ankerite, Fuller, Paymaster and Davidson Tisdale Gold Deposits - Porcupine Mining Division, Northeastern Ontario, Canada" with an effective date of June 1, 2013 prepared by Dr. Wayne Ewert, P.Geo., Mr. Eugene Puritch, P.Eng., Ms. Tracy Armstrong, P.Geo., Mr. Yungang Wu, P.Geo., Mr. Antoine Yassa, P.Geo., Mr. Richard Routledge, P.Geo. (P & E Mining Consultants Inc.), Ms. Katharine Masun, P.Geo., Mr. Tudorel Ciuculescu, P.Geo. (Roscoe Postle Associates Inc.). Dr. Ewert, Mr. Puritch, Ms. Armstrong, Mr. Wu, Mr. Yassa, Mr. Routledge, Ms. Masun, Mr. Ciuculescu are independent of Lexam VG Gold and a Qualified Person as defined by NI 43-101. To access the report click here.

Tonkin resource estimates on this page were derived from a report titled "Technical Report on the Tonkin Project" with an effective date of May 16, 2008 prepared by Alan C. Noble, P.E., Ore Reserves Engineering, Richard Gowans, Micon International and Steven Brown, US Gold Corporation. Mr. Noble and Mr. Gowans are independent of US Gold Corporation and a Qualified Person as defined by NI 43-101. To access the report click here.

All resource and reserve estimates reported by McEwen Mining Inc. are calculated in accordance with 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral resources which are not mineral reserves do not have demonstrated economic viability