McEwen Inc. (NYSE: MUX) (TSX: MUX) announced 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 $3,000 per ounce gold price. This represents a 23% increase in indicated resources compared with year-end 2024. The updated estimate incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for Q2 2026.
The resource growth highlights potential for further expansion through the recently acquired Stroud Property, new drill results received after the resource cutoff date, and mine and plant optimization. McEwen said Grey Fox is expected to play a key role in its objective of doubling production by 2030 as the Fox Complex transitions into a long-life mining operation.
McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides its 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. The gold and silver mines are in prolific mineral-rich regions of the world, including the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Argentina.
The company also holds a 46.4% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in Argentina. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million. The Los Azules project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038, with its feasibility study results announced in a press release dated October 7, 2025.
Chairman and Chief Owner Rob McEwen has invested over US$200 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 eventually implement a dividend policy, as he did while building Goldcorp Inc.
For more information on McEwen Mining, visit the company’s newsroom at https://ibn.fm/MUX.
