McEwen Inc. (NYSE: MUX) (TSX: MUX) released its year-end 2025 mineral resource estimate for the Grey Fox Project within the Fox Complex in Timmins, Ontario, reporting 1.9 million indicated gold ounces and 436,000 inferred gold ounces, calculated at a gold price of $3,000 per ounce. This represents a 23% increase in indicated resources compared with the year-end 2024 estimate, driven by ongoing exploration and the integration of the recently acquired Stroud Property.
The updated resource estimate incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for Q2 2026. The company highlighted that new drill results received after the resource cutoff date, along with mine and plant optimization efforts, could further expand the resource base. Grey Fox is expected to play a pivotal role in McEwen's objective of doubling production by 2030 as the Fox Complex transitions into a long-life mining operation.
Chairman and Chief Owner Rob McEwen, who has invested over US$200 million personally, emphasized the significance of the Grey Fox resource growth. The company's strategy focuses on building profitability and share value, with the eventual aim of implementing a dividend policy. McEwen also holds a 46.4% interest in McEwen Copper, which owns the Los Azules copper development project in Argentina, designed to be one of the world's first regenerative copper mines and carbon neutral by 2038.
The full press release is available at https://ibn.fm/Bc8Na. For more information on McEwen, visit their newsroom at https://ibn.fm/MUX.
