Page 32 Contd from pg 30 sources through near mine explora tion and enable more efecti ve mine planning W e have a lar ge and excit ing year of exploration ahead of us As to what the next steps will be towards permitting and operationalizing Gr ey Fox Stefan Spears the V P of Corpo rate Development had this to say Grey Fox has grown quite a bit from our drilling and positive results continue to come in W e are getting close to being able to establish an ini tial plan for development Once a decision has been made to proceed it would require about 12 years for mining to begin In 2020 we intend to focus our ex ploration eforts on Stock W est and Grey Fox Spears said In addition to its T imminsbased 100 owned Black FoxGrey Fox complex Stock Mill property McE wen operates mines in San Jose Mine Santa Cruz Argentina 49 San Jose excee ded the full year guid ance for 2019 of 49000 gold ounces and 3225000 silver ounces Our at tributable production from San Jose in 2019 was 51684 gold ounces and 3354487 silver ounces for a total of 91654 GEOs Gold Equivalent Ounces are calcu lated based on a 751 gold to silver price ratio for Q1 2019 881 for Q2 2019 871 for Q3 2019 and 851 for Q4 2019 2019 GEO Guidance as sumed an 851 ratio El Gallo Pr oject Sinaloa Mexico 100 El Gallo delivered on guidance by producing 16333 GEOs in 2019 from residual leaching of the heap leach pad Gold Bar Mine Nevada 100 Gold Bar produced 30712 GEOs in 2019 within our revised full year pro duction guidance of 30000 to 33000 GEOs In Q4 production was 9713 GEOs Throughput at the crushing plant slowed in Q4 with the onset of winter and we expect that to persist through Q1 2020 The Black Fox mine produced 35721 GEOs in 2019 close to our revised full year production guidance of 36000 to 40000 GEOs In Q4 production was 9887 GEOs Black Fox met its producti on goal and contained operating costs during the second half of 2019 Spears said The challenges early in the year were unfortunate but ultimately they made our team work harder to improve the operation and were pleased about that McEwen has approximately 4003 million shares outstanding Rob McEwen owns 20 of the shares and found grades range from 3064 grams gold per tonne to 39646 gram per tonne Highlights of the Black Fox Mine Drill Results 3477 gt Au over 265 m 112 opt Au over 869 ft 39646 gt Au over 181 m 1275 opt Au over 594 ft 24555 gt Au over 127 m 789 opt Au over 417 ft 3064 gt Au over 299 m 099 opt Au over 981 ft 5150 gt Au over 095 m 166 opt Au over 312 ft For a mine with a history of produc ing 5 gt gold these drill assay results are very encouraging These results highlight the signifcant potential of our exploration to extend the mine life at Blac k Fox and improve its proft ability said Sylvain Guerard Senior V ice President Exploration Our ge ologists are building an improved geo logic model of the Black Fox deposit that should all ow us to grow our re McEwen Mining Drills 53 gt Gold Over 67 m Released at print time T ORONT O February 5 2020 McEwen Mining Inc NYSE MUX TSX MUX is pleased to report additional positive drill results from the Whiskey Jack tar get in the Grey Fox area part of the Black Fox Complex located in the prolifc T immins gold district Canada Sylvain Guerard SVP Exploration commented New intersections at Whis key Jack have confrmed highgrade gold mineralization over signifcant true widths including 53 gt Au over 67 m This intersection is open and ofers good potential for the discovery of a new highgrade deposit that could con tribute to the growth of our existing resource at Grey Fox For complete details see www mcewenminingcom Chairman Chief Owner Rob McEwen at Gr ey Fox Page 33 What we mean when we say W e do everything T ailings pond management Full waste management pr ograms Highpr essur e and chemical cleaning Hydr o excavation T ank cleaning Or ganics pr ograms for land r eclamation W astewater tr eatment Dr edging and dewatering Discover how our envir onmental services can enhance your mining operation terrapur eenv com SPV 232 IMPELLER CABLE PULLEY 7 0 Email salesfabrithanecom