Infill Drill Highlights:
AZ24375:217 metersof1.11 % Cu, incl.100 metersof1.32 % Cu
AZ24335:158 metersof0.84 % Cu, incl.78.5 metersof1.10 % Cu
AZ24403:276 metersof0.86 % Cu, incl.160 metersof0.96 % Cu
AZ24320:146 metersof0.89 % Cu
AZ24332:119.6 metersof0.72 % Cu

TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- McEwen Copper Inc., 48.3% owned by McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), is pleased to comment on the excitement in Argentina that includes:

Remarkable new legislation introduced by President Milei to encourage large domestic and foreign investments in the country;
A US$4.4 Billion transaction led by BHP, the world’s largest mining company, and Lundin Mining to acquire two copper deposits located in the same province in Argentina as Los Azules;
At Los Azules, infill drilling during the 2023-24 season upgraded the resource categories, validated the geological model and confirmed the high-grade zone. Resource drilling for the Los Azules Feasibility Study is now complete, and the study remains on track for delivery in early 2025.
Remarkable and Welcoming Legislation – Milei Magic

President Milei’s government introduced legislation that has rolled out the welcome mat for large-scale domestic and foreign direct investments in Argentina.

This legislation recently approved by Argentina’s government is called "Bases and Starting Points for the Freedom of Argentines" and includes the Incentive Regime for Large Investors (RIGI), o?ering signi?cant tax and foreign exchange incentives to encourage domestic and direct foreign investment in key sectors of the economy, including mining.

This program addresses most of all past stumbling blocks for sustained development of the mining sector in Argentina, and it's a huge step in the right direction.

We are excited about these changes as they open the door for many infrastructure investments in Argentina and significantly improve the economics of the Los Azules project and lower risks for investors. Details of the legislation are found in Appendix A - More Information on RIGI and you can click here for the official summary.

US$4.4 Billion Copper Transaction

Last week, BHP, the world’s largest mining company, and Lundin Mining announced a US$4.4 Billion transaction through which they have agreed to jointly acquire the two copper deposits Filo del Sol and Josemaria located in the same San Juan province of Argentina as Los Azules.

We believe that this transaction is a convincing demonstration of San Juan and Argentina´s attractiveness for large-scale mining projects and evidence of Argentina moving towards becoming a Tier 1 mining jurisdiction. Click on these links to read details of the transaction, in press releases by BHP, Lundin Mining, and Filo Corp.

Los Azules Infill Drilling Highlights Confirming High Grade Copper Zone

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https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2024/McEwen-Copper-Update-Excitement-in-Argentina-Milei-Magic-Is-Turbocharging-Foreign-Investments-US4.4-Billion-Copper-Transaction-by-BHP-and-Lundin-Mining-Los-Azules-Infill-Drilling-Confirmed-High-Grade-Copper-Zone/default.aspx