McEwen Mining Receives $49.4 Million San José Dividend, Surpasses Full-Year Forecast

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) announced it has received a $49.4 million dividend from the San José Mine in Argentina, bringing total dividends from the operation in 2026 to $58.2 million. This amount already exceeds the company’s original full-year expectation of $40 million to $50 million, signaling strong operational performance from the joint venture.

The dividend further strengthens McEwen’s balance sheet as the company looks to fund planned production growth through internally generated cash. McEwen aims to double its production to 250,000 to 300,000 gold equivalent ounces by 2030, a goal supported by the consistent cash flow from San José.

McEwen 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 located in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. The company is also reactivating its gold-silver El Gallo Mine in Mexico.

McEwen holds a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). 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 the press release dated October 7, 2025.

Additionally, McEwen recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. McEwen believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.

Chairman and Chief Owner Rob McEwen has invested over US$250 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 ultimately implement a dividend policy, as he did while building Goldcorp Inc.

The latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.

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