McEwen Inc.

During Q3/25 we invested $3.0 million in exploration activities at the Fox Complex. At the Grey Fox property, exploration activities included 67,260 feet (20,500 meters) of diamond drilling, primarily focused on the Gibson Zone, where favorable grades and widths were identified. Other priority drill targets included the Stroud property, which is contiguous with Grey Fox, to verify a historical resource. Objectives for the remainder of 2025 will continue to center on delineating near-term resources at Grey Fox in support of its prefeasibility study, and identifying additional targets to support future resource growth.