TORONTO, Jan. 04, 2021 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) studies consolidated manufacturing for the complete 12 months of 2020 was 92,100 gold ounces and 2,020,000 silver ounces, or 115,600 gold equal ounces(1)(“GEOs”) at a gold:silver ratio of 86:1. Consolidated manufacturing for This autumn 2020 was 24,100 gold ounces and 532,400 silver ounces, or 31,100 GEOs on the common gold:silver ratio for the quarter of 77:1.
Consolidated Manufacturing Abstract
|This autumn||Full 12 months|
In This autumn 2020, our attributable manufacturing 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 manufacturing of 8,000 GEOs was above our expectations; Gold Bar manufacturing of 6,000 GEOs was under our expectations; and El Gallo produced 1,500 GEOs from residual leaching.
Fox Complicated PEA
Work on the Fox Complicated Preliminary Financial Evaluation (PEA) is ongoing. The addition of a number of different key properties has expanded the scope of the PEA and consequently it’s now anticipated to be accomplished in Q2 2021.
Gold Bar Feasibility Examine
The up to date Useful resource and Reserve estimates for the Gold Bar Mine are being finalized and can be printed concurrent with the abstract outcomes of the up to date Feasibility Examine within the coming weeks.
(1) ‘Gold Equal Ounces’ are calculated primarily based on a gold to silver worth ratio of 85:1 for This autumn 2019, 77:1 for This autumn 2020, 84:1 for 2019, and 86:1 for 2020.
(2) The San José Mine is 49% owned by McEwen Mining Inc. and 51% owned and operated by Hochschild Mining plc.
The technical content material of this information launch has been reviewed and accredited by Peter Mah, P.Eng., COO of McEwen Mining and a Certified Individual as outlined by Canadian Securities Directors Nationwide Instrument 43-101 “Requirements of Disclosure for Mineral Tasks.”
Reliability of Info Relating to San José
Minera Santa Cruz S.A., the proprietor of the San José Mine, is accountable for and has equipped to the Firm all reported outcomes from the San José Mine. McEwen Mining’s three way partnership accomplice, a subsidiary of Hochschild Mining plc, and its associates apart from MSC don’t settle for accountability for using challenge knowledge or the adequacy or accuracy of this launch.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This information launch comprises sure forward-looking statements and data, together with “forward-looking statements” throughout the that means of the Personal Securities Litigation Reform Act of 1995. The forward-looking statements and data expressed, as on the date of this information launch, McEwen Mining Inc.’s (the “Firm”) estimates, forecasts, projections, expectations or beliefs as to future occasions and outcomes. Ahead-looking statements and data are essentially primarily based upon numerous estimates and assumptions that, whereas thought of affordable by administration, are inherently topic to important enterprise, financial and aggressive uncertainties, dangers and contingencies, and there might be no assurance that such statements and data will show to be correct. Subsequently, precise outcomes and future occasions might differ materially from these anticipated in such statements and data. Dangers and uncertainties that would trigger outcomes or future occasions to vary materially from present expectations expressed or implied by the forward-looking statements and data embrace, however will not be restricted to, results of the COVID-19 pandemic, fluctuations available in the market worth of treasured metals, mining business dangers, political, financial, social and safety dangers related to overseas operations, the flexibility of the company to obtain or obtain in a well timed method permits or different approvals required in reference to operations, dangers related to the development of mining operations and graduation of manufacturing and the projected prices thereof, dangers associated to litigation, the state of the capital markets, environmental dangers and hazards, uncertainty as to calculation of mineral assets and reserves, and different dangers. Readers shouldn’t place undue reliance on forward-looking statements or data included herein, which converse solely as of the date hereof. The Firm undertakes no obligation to reissue or replace forward-looking statements or data on account of new data or occasions after the date hereof besides as could also be required by legislation. See McEwen Mining’s Annual Report on Kind 10-Ok for the fiscal 12 months ended December 31, 2019 and different filings with the Securities and Change Fee, underneath the caption “Danger Elements”, for extra data on dangers, uncertainties and different elements regarding the forward-looking statements and data concerning the Firm. All forward-looking statements and data made on this information launch are certified by this cautionary assertion.
The NYSE and TSX haven’t reviewed and don’t settle for accountability for the adequacy or accuracy of the contents of this information launch, which has been ready by administration of McEwen Mining Inc.
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver producer and explorer targeted within the Americas with working mines in Nevada, Canada, Mexico and Argentina. It additionally owns a big copper deposit in Argentina.