McEwen Copper: Los Azules – Robust Assay Results 

Significant Drill Intercepts 
237.2 m of 1.05% Cu including 108 m of 1.71% Cu (AZ22173)  
373.9 m of 0.76% Cu including 96 m of 1.13% Cu (AZ22176) 

TORONTO, Jan. 26, 2023 (GLOBE NEWSWIRE) — McEwen Copper Inc., 68%-owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), today reports rich copper values over attractive widths resulting from infill drilling at its Los Azules project. Los Azules is a large porphyry copper-gold-silver deposit with considerable growth potential, where its ultimate depth and lateral extents remain to be determined.  

Table 1 provides a summary of the assay results for eight recent drill holes for copper (Cu), gold (Au) and silver (Ag).  

 Highlights 

• Widespread mineralized magmatic hydrothermal breccias with intercepts such as 237.2 meters (m) of 1.05% Cu including 108 m of 1.71% Cu in hole AZ22173. 
• Continuity of an Enriched mineral zone up to 300 m, true thickness. 
• Northern exploration hole AZ22174 targeting a deep geophysical anomaly intersected multiple copper-mineralized horizons including disseminated and veinlet-hosted primary copper mineralization and potassic alteration as deep as 1,100 m downhole, with assays pending.

Current Drill Program 

Drilling resumed in October 2022. This season’s +75 holes and +25,000-meter program is designed to:  

• Increase drill hole density to upgrade the copper resource classification to measured and indicated to better understand the payback pit design.  
• Provide metallurgical, hydrological and geotechnical data to facilitate mine design. 
• Test for potential extensions of the resource to the north, south and at depth to determine how much larger the deposit could be. 

Since October, some 11,900 m have been drilled from 46 holes.  

“We have transitioned into 2023 with tremendous momentum, backstopped by 9 on-site drills, an active community engagement program and a fully staffed technical team advancing Los Azules towards feasibility,” commented Michael Meding, Vice President and General Manager of McEwen Copper. “We are delivering a first-class technical evaluation on a copper deposit that will put Argentina at the forefront of critical metals production supporting worldwide electrification and a greener future for generations to come.”   

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