2023 Net income $1.15/share vs. 2022 net loss $1.71/share

TORONTO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported its fourth quarter (“Q4”) and full year 2023 financial and operational results. Net income for the year was $54.7 million or $1.15 per share versus a 2022 net loss of $81.1 million or $1.71 per share! Gold production at the Fox Complex and Gold Bar mine came in just above the low end of guidance and San José just below guidance. However, cash costs(1) and AISC(1) per ounce remain 12-18% higher than guided and need more attention.

Growth Plans for 2024

“Our biggest single asset with the greatest near-term potential to increase our share value is our 48% owned subsidiary McEwen Copper. Its 2nd and 3rd largest shareholders are global giants, Rio Tinto and Stellantis, the world’s 2nd largest mining company and the world’s 4th largest automaker, owning 14.5% and 19.4% of McEwen Copper, respectively. McEwen Copper is driving hard, with 22 drills operating on site, to complete the necessary work to deliver a bankable Feasibility Study in Q1 2025. see & read more on
https://www.globenewswire.com/news-release/2024/03/01/2838545/37420/en/McEwen-Mining-2023-Year-End-and-Q4-Results.html