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McEwen Mining: 2020 Full Year and Q4 Production Results

Jan 4, 2021

McEwen Mining Inc. reports consolidated production for the full year of 2020 was 92,100 gold ounces and 2,020,000 silver ounces, or 115,600 gold equivalent ounces at a gold:silver ratio of 86:1. Consolidated production for Q4 2020 was 24,100 gold ounces and 532,400 silver ounces, or 31,100 GEOs at the average gold:silver ratio for the quarter of 77:1.

In Q4 2020, our attributable production from San José(2) was 531,500 silver ounces and 8,700 gold ounces, or 15,600 GEOs, which was in-line with our expectations; Black Fox production of 8,000 GEOs was above our expectations; Gold Bar production of 6,000 GEOs was below our expectations; and El Gallo produced 1,500 GEOs from residual leaching.

Fox Complex PEA

Work on the Fox Complex Preliminary Economic Assessment (PEA) is ongoing. The addition of several other key properties has expanded the scope of the PEA and as a result it is now expected to be completed in Q2 2021.

Gold Bar Feasibility Study

The updated Resource and Reserve estimates for the Gold Bar Mine are being finalized and will be published concurrent with the summary results of the updated Feasibility Study in the coming weeks.

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