Mr. Rob McEwen reports

MCEWEN FILES NI 43-101 TECHNICAL REPORTS: GREY FOX PREFEASIBILITY STUDY IN ONTARIO AND LOOKOUT MOUNTAIN AND WINDFALL MINERAL RESOURCE ESTIMATE IN NEVADA

McEwen Inc. has filed on SEDAR+ technical reports prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, for its Grey Fox project in Ontario, part of the Fox complex, and its Lookout Mountain and Windfall deposits in Nevada, part of the Gold Bar mine complex.

Grey Fox report

The report for Grey Fox is titled "Grey Fox Project Prefeasibility Study NI 43-101 Technical Report," and has an effective date of June 8, 2026, and a report date of July 17, 2026. The Grey Fox report supports the results of the Grey Fox prefeasibility study (PFS) previously announced by the company on June 8, 2026. Key results include:

• A 15-year project life for Grey Fox, extending production at the Fox complex through 2041, supported by probable mineral reserves of 9.41 million tonnes grading 3.24 grams per tonne (g/t) gold (Au) and containing 980,300 gold ounces (oz);
• Production profile: annual payable gold production projected to average approximately 43,000 ounces during project years 2 through 8, and approximately 87,000 ounces during project years 9 through 14, before tapering in project year 15;
• Base case at $3,000 per ounce gold: life-of-mine cash costs of $1,833 per ounce and all-in sustaining costs (AISC) of $2,212 per ounce; posttax NPV (net present value) (5 per cent) of $282-million, IRR (internal rate of return) of 24.8 per cent and payback of 4.6 years;
• Enhanced case at $4,500 per ounce gold: life-of-mine cash costs of $2,042 per ounce and AISC of $2,421 per ounce; posttax NPV (5 per cent) of $841-million, IRR of 55 per cent and payback of 2.3 years;
• Mineral resources (exclusive of reserves): additional 9.68 million tonnes at 2.25 g/t Au for 701,000 gold ounces indicated and 4.70 million tonnes at 2.57 g/t Au for 388,000 gold ounces inferred.

Lookout Mountain and Windfall report

The report for Lookout Mountain and Windfall is titled "NI 43-101 Technical Report on the Mineral Resources Estimate for the Lookout Mountain and Windfall Deposits, Eureka, Nevada, USA," and has an effective date of May 4, 2026, and a report date of July 2, 2026.

The report supports the mineral resource estimates previously announced on March 12, 2026, for Lookout Mountain and May 6, 2026, for Windfall. Key results include:

• Together, the two deposits contain 629,800 gold ounces in indicated mineral resources and 262,000 gold ounces in inferred mineral resources;
• Lookout Mountain: indicated mineral resources of 19.57 million tonnes at 0.64 g/t Au, containing 402,300 gold ounces, and inferred mineral resources of 7.29 million tonnes at 0.57 g/t Au, containing 134,200 gold ounces;
• Windfall: indicated mineral resources of 9.40 million tonnes at 0.75 g/t Au, containing 227,500 gold ounces, and inferred mineral resources of 2.60 million tonnes at 1.53 g/t Au, containing 127,800 gold ounces;
• Approximately 89 per cent of Lookout Mountain's contained gold ounces and 100 per cent of Windfall's contained gold ounces are in oxide mineralization. Both estimates are constrained by optimized open pits using a gold price of $3,000 per ounce and the oxide material is considered potentially amenable to heap-leach processing.

All dollar figures in this news release are in U.S. dollars unless otherwise specified.

Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The technical reports are available under the company's issuer profile on SEDAR+ and on the company's filings and technical reports page.

Qualified persons and technical information

The Grey Fox report was prepared by the following qualified persons, as defined by National Instrument 43-101: Mark Hatton, PEng, Stantec Consulting Ltd.; Carson Cybolsky, PGeo, McEwen; Sean Farrell, PGeo, McEwen; Luke Willis, PGeo, McEwen; Gerd Wiatzka, PEng, Arcadis; Niel Morrison, PEng, DRA Global Ltd.; and Sheldon Smith, MES, PGeo, Stantec Consulting.

The Grey Fox report was prepared with contributions from McEwen, Stantec Consulting, Arcadis and DRA Global.

The Lookout Mountain and Windfall report was prepared by the following qualified persons, as defined by NI 43-101: Michael C. Baumann, SME-RM, CPG, McEwen Mining Nevada Inc.; Barry Carlson, PE, PEng, SME-RM, SLR International Corp.; Gary P. Edmondo, CPG, McEwen Mining Nevada; and Robert L. Kastelic, MSc, CPG, McEwen Mining Nevada.

About McEwen Inc.

McEwen is a diversified gold, silver and copper company trading on the New York Stock Exchange and Toronto Stock Exchange under the ticker symbol MUX.

The company provides shareholders with exposure to a growing base of gold and silver production in prolific mineral-rich regions throughout the Americas, including the Cortez trend in Nevada, U.S., the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado massif in Santa Cruz province, Argentina. McEwen is also advancing the reactivation of its El Gallo gold and silver mine in Mexico. The company's near-term objective is to increase total annual production to 250,000 to 300,000 gold equivalent ounces by 2030.

In addition, McEwen provides exposure to copper through its 46.3-per-cent interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules development project in San Juan, Argentina. Based on the last equity financing for McEwen Copper, the implied value of McEwen's ownership interest is $457-million.

Los Azules is being developed with the goal of becoming one of the world's first regenerative copper mines and achieving carbon neutrality by 2038. The feasibility study released on Oct. 7, 2025, highlights the project's strong economics and focus on environmental stewardship.

McEwen also holds a 27.3-per-cent interest in Paragon Advanced Labs Inc., a publicly traded company deploying PhotonAssay units around the world. The company believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon seeking to become a leading service provider in the sector.

Chairman and chief owner Rob McEwen has invested $290-million personally and takes a salary of $1 per year, aligning his interests with those of 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 goal is to significantly multiply the value of shareholders' investments and his own, as he did while building Goldcorp Inc.

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