Page 30 Contd on pg 32 McEwen Mining Delivers Optimistic Drill Results for Grey Fox property and an upbeat 4th Quarter 2019 and Full Y ear Report The recent announcement of drill re sults from McEwen Mining s Grey Fox site east of T immins Ontario are great news for the company that entered the T immins mining camp in 2017 after acquiring The Black Fox mine and other assets from Primero Gold The drill results reported today from Gibson and Whiskey Jack illustrate clearly the growth potential of the Black Fox property said Sylvain Guerard SVP Exploration The good news contained in the drill ing results released in December 2019 together with an upbeat full year4th Quarter 2019 report released in January 2020 help to brighten the picture for McEwen Mining which began 2019 with production disrup tion at Black Fox mine due to extreme weather conditions and a fre to the crusher unit 2019 was a year of explorati on highs overshadowed by productio n lows After issuing two disappointing re ductions in production guidance we fnally achieved our guidance The problems that plagued us in 2019 were lar gely unique events that will not be reoccurring Explorat ion will continue to be a key focus at Stock W est Grey Fox Black Fox and Gold In 2018 hole 18GF1079 intersected a broad interval of mineralization within an intrusion which returned 31 gt Au over 34 m including 108 gt Au over 6 m core lengths Diamond drilling tested below hole 18GF1079 and extended the mineralization by 820 ft 250 m down dip with hole 19GF 1 106 which intersected a higher grade interval of 169 gt Au over 3 m core length within a 200 ft 60 m wide envelope of alteration and anomalous mineralization Followup drilling has continued with 19 holes completed since last release of results in May 2019 Signifcant gold mineralization at Gib son has been outlined over a 1650 ft 500 m strike length and from surface to a depth of 2600 ft 800 m Hole 19GF1 147 returned the deepest inter section of 132 gt Au over 3 m At the Whiskey Jack 9 gt Au over 440 m 029 opt Au over 1444 ft was found The Whiskey Jack tar get is located where the contact between sedimenta ry and volcanic units changes orienta tion Drilling followedup on positive drill results released on November 4 2019 including 141 gt Au over 84 m including 591 gt Au over 13 m core length in hole 19GF1242 Re cent drilling intersected wide zones of strong gold mineralization In May 2019 McEwen released drill ing results from the Black Fox Mine By Frank Giorno Bar where we see the potenti al to cre ate the greatest near term value said Rob McEwen Chairman and Chief Owner The results were from two locations on the Grey Fox property which is ad jacent to Black Fox mine When McEwen Mining purchased the Black Fox Complex in 2017 our thesis was that investing in explora tion would eventually yield a lar ger longer life and more proftable min ing operation In 2019 we made a new discovery at Stock W est which is very close to our mill and contin ued to grow the resources at Grey Fox It is too early to tell exac tly what the longterm ramifcations are but we are very pleased with what weve found to date said Stefan Spears V ice President of Corporate Develop ment The Gibson drilling site returned high grade gold results that could reduce the cost of mining the ore Highlights of the Gibson T arget Drill Results 184 gt Au over 24 m 059 opt Au over 79 ft 56 gt Au over 78m 018 opt Au over 256 ft 87 gt Au over 40 m 028 opt Au over 131 ft 88 gt Au over 44 m 028 opt Au over 143 ft 132 gt Au over 30 m 042 opt Au over 98 ft McEwen Mining anticipating extended life for Black Fox T immins Complex