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. The reports support previously released prefeasibility and mineral resource estimates, providing investors with detailed technical data on these key assets.
The Grey Fox Project technical report outlines a 15-year mine life with probable mineral reserves of 980,300 contained gold ounces. The project demonstrates a post-tax net present value (NPV) of $282 million at a $3,000-per-ounce gold price, increasing to $841 million at $4,500 gold. These figures highlight the project's sensitivity to gold prices and its potential for strong returns in a favorable commodity environment.
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. The majority of these contained ounces occur in oxide mineralization, which is considered potentially amenable to heap-leach processing. This method typically offers lower capital and operating costs compared to traditional milling, enhancing the economic viability of the deposits.
The reports are available through the company's SEDAR+ filings and support previously announced project results. 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, in addition to a very large copper development project, all in the Americas. Its gold and silver mines are located 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.
The company holds a 46.3% interest in McEwen Copper, which owns the large, long-life, 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 copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its feasibility study results were announced in the press release dated October 7, 2025.
McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay units around the world. The company believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers. 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.
