An anonymous director reports

MCEWEN MINING RESPONDS TO APITIPI ANICINAPEK NATION

McEwen Mining Inc. is responding to the news release issued by the Apitipi Anicinapek Nation (AAN) dated Feb. 12, 2025, that alleges McEwen has breached the impact benefit agreement (IBA) associated with the Fox complex (Fox) originally signed in 2011 between Brigus Gold Corp. and AAN. Since that time, the Fox property has changed ownership twice. First to Primero Mining Corp. when it purchased Brigus in 2013 and then in 2017 when McEwen acquired Fox from Primero in a single asset sale.

Concerning the environmental allegations, McEwen is fully committed to the protection of the environment at the Stock mill. The company continues to take appropriate steps to protect the environment and comply with laws. The company does not believe there is cause for concern about harm to the environment or the public from the operation of the tailings facility. McEwen's tailings facility is operated under an approval issued by the Ontario Ministry of Environment, Conservation and Parks (MECP), and is subject to frequent inspections by representatives from a variety of provincial and federal ministries including those responsible for fisheries, natural resources, the environment and mining. The company must adhere to stringent requirements for effluent treatment, including surface and groundwater quality monitoring and biological monitoring, and report results to the MECP. As part of a recent closure plan amendment in the normal course of operations and in response to inspections by provincial authorities, McEwen proposed additional monitoring and continues to work with these authorities to ensure that the company is fulfilling its obligations to all its constituents.

McEwen understands that there has been a continuing dispute concerning the obligation in the IBA to make annual payments of 25,000 Brigus common shares to AAN predating McEwen's acquisition of Fox. Complicating the conversation is the fact that Brigus ceased to exist after its purchase by Primero in 2013; McEwen believes that Brigus shares and McEwen shares are not interchangeable on a one-to-one basis and that it is not responsible for shares that were not delivered by Primero during its ownership of Fox, among other things. The company remains open to constructive dialogue with AAN on this issue, and it hopes to reach an amicable resolution.

Both before and during this dispute, McEwen has worked with AAN to provide the community members and businesses with advantages consistent with the financial participation and business terms of the IBA, providing $20-million in direct and indirect benefits since 2017. To assist communication, develop new economic opportunities and enhance the transparency of the company's interactions with the AAN, an AAN representative, paid for by McEwen, was present at Fox up to five days per week and was given a workspace in the environment office. This AAN representative has not appeared at Fox for more than one year. Given there seem to be significant misunderstandings about environmental matters and transparency, the company believes it would be highly beneficial to have an AAN representative present at Fox on a daily basis.

About McEwen Mining Inc.

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, it owns 46.4 per cent of McEwen Copper which owns the large, advanced-stage Los Azules copper project in Argentina. The company's objective is to improve the productivity and life of its assets with the goal of increasing its share price and providing an investor yield. Rob McEwen, chairman and chief owner, has a personal investment in the companies of $205-million. His annual salary is $1.

McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol MUX.

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