McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is
pleased to report that William (Bill) Shaver, P. Eng., has been
appointed to the Board of Directors effective immediately.
Mr. Shaver is a seasoned mining executive with
over 50 years of management and executive experience in all facets
of mine design, construction, and operations. In 1980, he was a
founder of Dynatec Corporation, which became one of the leading
contracting and mine operating groups in North America. In 2013, he
was recognized as the Ernst and Young Entrepreneur of the Year for
his devotion to bringing innovation to the mining industry. Most
recently, he served as Chief Operating Officer of INV Metals before
its sale to Dundee Precious Metals. He completed the Technician
Program at the Haileybury School of Mines and is a Professional
Engineer with a BSc in Mining Engineering from Queens University in
Kingston. He is also a designated Independent Corporate Director,
having received his ICD.D designation in 2019.
Mr. Shaver replaces Gregory Fauquier, who has
resigned from the Board of Directors after seven years of
distinguished service to the Company. We sincerely thank Mr.
Fauquier for his contributions and wish him well in all his future
endeavors.
Los Azules Project,
Argentina
The McEwen Copper division, 81% owned by McEwen
Mining, is rapidly advancing work on the Los Azules project
following the completion of the US$40 million first tranche private
placement financing announced August 23, 2021. The second tranche
of the private placement is expected to close shortly. Preparations
are underway for a large 53,000-meter drilling program targeting
the upgrading of Inferred mineral resources to the Indicated
category. The first 2 drill rigs are arriving in early November
2021, ramping up to the full complement of 10 drills by January
2022. Access to the project is currently being established on the
existing exploration road, which has been safely cleared by crews
48 miles (78 km) of the route, approximately three quarters of the
way to the project. Construction of a new all-season lower altitude
access road is underway, with completion expected in H2 2022.
McEwen Copper has engaged an experienced group
of professionals and consultants to guide the Los Azules project
towards the pre-feasibility study stage, including Dave Tyler,
Study Director, Gary Cochran, Project & Construction Manager,
and Bill Thomas, Manager of Business Improvement & Operational
Readiness.
Dave Tyler, Study DirectorDave
is a senior mining executive with over 30 years of expertise in
innovation, planning, engineering, permitting, start-up, and
operations of successful mines internationally. He has authored
multiple feasibility studies of major precious and base metals
mining projects globally, including South America. Mr. Tyler was
previously the Study Director for Newmont Mining, VP of Technical
Services for Coeur Mining, and the Vice President Project
Development for Twin Metals, leading a $1.1B copper-nickel
development project near an environmentally sensitive national
wilderness area.
Gary Cochran, Project & Construction
ManagerGary is a seasoned mining and construction
professional with over 35 years of experience in surface mining and
associated construction works. He has successfully led multiple
large-scale projects and has trained personnel to high standards of
safe economical operation in all aspects of mining and
construction. Gary was the Construction & Project Manager for
Hudbay Minerals’ Constancia Copper Mine in Peru. He also managed
the El Brocal Zinc open pit mine operations in Peru. Gary was a
manager for Anglo American’s Quellaveco Mine in Peru and was
involved in managing winter operations as an advisor to Barrick’s
Veladero project in Argentina.
William Thomas, Manager of Business
Improvement & Operational ReadinessWilliam (Bill) is a
project consulting engineer experienced in facility design
optimization, mineral processing, asset management, logistics,
safety, training and change management. Bill was a project
consultant to Hudbay Minerals’ Constancia Project in Peru, as well
as Project Consultant to both Newmont and Freeport, responsible for
defining core business processes to support capital effectiveness
and delivery of low cost, high productivity business-ready
facilities.
Technical InformationThe
technical contents of this news release have been reviewed and
approved by G. Peter Mah, P.Eng., COO of McEwen Mining and a
Qualified Person as defined by Canadian Securities Administrators
National Instrument 43-101 "Standards of Disclosure for Mineral
Projects."
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTSThis news release contains certain
forward-looking statements and information, including
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements and information expressed, as at the date of this news
release, McEwen Mining Inc.'s (the "Company") estimates, forecasts,
projections, expectations or beliefs as to future events and
results. Forward-looking statements and information are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties, risks
and contingencies, and there can be no assurance that such
statements and information will prove to be accurate. Therefore,
actual results and future events could differ materially from those
anticipated in such statements and information. Risks and
uncertainties that could cause results or future events to differ
materially from current expectations expressed or implied by the
forward-looking statements and information include, but are not
limited to, effects of the COVID-19 pandemic, fluctuations in the
market price of precious metals, mining industry risks, political,
economic, social and security risks associated with foreign
operations, the ability of the corporation to receive or receive in
a timely manner permits or other approvals required in connection
with operations, risks associated with the construction of mining
operations and commencement of production and the projected costs
thereof, risks related to litigation, the state of the capital
markets, environmental risks and hazards, uncertainty as to
calculation of mineral resources and reserves, and other risks.
Readers should not place undue reliance on forward-looking
statements or information included herein, which speak only as of
the date hereof. The Company undertakes no obligation to reissue or
update forward-looking statements or information as a result of new
information or events after the date hereof except as may be
required by law. See McEwen Mining's Annual Report on Form 10-K for
the fiscal year ended December 31, 2020, and other filings with the
Securities and Exchange Commission, under the caption "Risk
Factors", for additional information on risks, uncertainties and
other factors relating to the forward-looking statements and
information regarding the Company. All forward-looking statements
and information made in this news release are qualified by this
cautionary statement.
The NYSE and TSX have not reviewed and do not
accept responsibility for the adequacy or accuracy of the contents
of this news release, which has been prepared by the management of
McEwen Mining Inc.
ABOUT MCEWEN MINING
McEwen Mining is a diversified gold and silver producer and
explorer focused in the Americas with operating mines in Nevada,
Canada, Mexico and Argentina.
CONTACT INFORMATION: |
Investor Relations:(866)-441-0690 Toll
Free(647)-258-0395Mihaela Iancu ext.
320info@mcewenmining.com |
Website:
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