McEwen files NI 43-101 prefeasibility report for Grey Fox project in Ontario Fox Complex

• McEwen filed NI 43-101 technical reports for the Grey Fox project in Ontario plus Lookout Mountain and Windfall deposits in Nevada.
• Grey Fox prefeasibility study outlines a 15-year mine life through 2041; probable reserves of 980,300 oz gold.
• Base case at USD 3,000/oz: cash costs USD 1,833/oz; AISC USD 2,212/oz; post-tax NPV (5%) USD 282 million; IRR 24.8%.
• Enhanced case at USD 4,500/oz: post-tax NPV (5%) USD 841 million; IRR 55%; payback 2.3 years.
• Lookout Mountain and Windfall resources total 629,800 oz indicated gold; 262,000 oz inferred; pit-constrained at USD 3,000/oz with mostly oxide material.

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