McEwen Inc.

During Q2/26, the Company completed approximately 65,335 feet (19,914 meters) of drilling at the Grey Fox deposit and incurred $2.6 million in exploration expenditures. The drilling program was focused on supporting continued resource growth at Grey Fox, and for the preparation of the PFS which was released in Q2/26.

The PFS for the Grey Fox Project, demonstrates the potential to extend the Fox Complex mine life by approximately 15 years to 2041. The study indicates Grey Fox contributing average annual production of approximately 43,000 gold ounces from 2028 to 2035 and becoming the sole source of production from 2035 to 2040, averaging approximately 87,000 gold ounces per year. Initial capital expenditures are estimated at $181 million and are expected to be primarily funded through existing treasury balances and operating cash flow, with expenditures phased between 2026 and 2029. The assessment also indicates additional mine life extension potential, as current mine reserves represent approximately 40% of the existing resource base and significant exploration upside remains.