McEwen Inc. (NYSE: MUX) (TSX: MUX) has filed NI 43-101 technical reports on SEDAR+ for its Grey Fox Project in Ontario and the Lookout Mountain and Windfall deposits in Nevada, providing detailed support for previously announced prefeasibility and mineral resource estimates. The filing marks a key step in advancing these assets toward potential development.
The Grey Fox technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project shows a post-tax net present value (NPV) of $282 million at a gold price of $3,000 per ounce, increasing to $841 million at $4,500 per ounce. The report is available through the company's SEDAR+ filings, as noted in the press release.
For the Lookout Mountain and Windfall deposits in Nevada, the technical report confirms combined indicated mineral resources of 629,800 gold ounces and inferred resources of 262,000 gold ounces. Most of these contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing, a lower-cost extraction method that could enhance project economics.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders with exposure to a growing base of gold and silver production, as well as a very large copper development project, all located in the Americas. Its gold and silver mines are situated in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
Beyond precious metals, McEwen holds a 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share). The Los Azules project is designed to be one of the world's first regenerative copper mines and aims to be carbon neutral by 2038. Its feasibility study results were announced in an October 7, 2025 press release.
McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. The company believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame, and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
