McEwen Mining Appoints Xavier Ochoa as President and COO
November 04 2016 - 7:01AM
McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased
to announce the appointment of Xavier Ochoa to President and
Chief Operating Officer (“COO”). Xavier joined
the Company this past September, 2016 as McEwen Mining’s COO (see
news release dated September 9, 2016).
The change in management represents a
significant step towards reaching our operational goals and further
advancing our portfolio of projects. Xavier brings over 25
years of international experience in the mining industry, including
senior management positions where he was instrumental for leading
project and operational teams, both underground and open
pit.
In Mexico, we have an extensive land package
with numerous small scale historic areas of mine production
throughout the property package. A new geological
interpretation making use of advanced geophysics and information
collected from exploration work has been developed for our El Gallo
property which confirms the geological potential. Recent work
has demonstrated encouraging results at the El Encuentro - La
Revancha Zone (see news release dated October 13, 2016). The
Company has recently begun to demonstrate the prospective
nature and potential longevity of mining within the El Gallo
District. Under Xavier’s direction, we will continue to
implement this program with the goal of extending the mine life at
El Gallo Complex.
At the El Gallo Silver Project we are revisiting
the project and conducting new studies to improve the project
economics in light of current silver prices and our ongoing
exploration program on the El Gallo District.
Xavier will continue to oversee the advancement
of the permits required for a speedy construction decision of our
Gold Bar project in Nevada while implementing the ongoing work
program to improve the economics of our large Los Azules copper
project in Argentina.
“At McEwen Mining, we believe in constant
innovation and a vision of aggressively growing shareowner value.
Xavier is a mining engineer with a strong record of enhancing
production, reducing operating costs and creatively improving
capital efficiency. Having worked for several large companies in
the past such as Xtrata, Goldcorp, Barrick and Glencore, I believe
Xavier has the skill set and meets the needs to be very
effective in his new role,” commented Rob McEwen, Chief Owner.
About McEwen Mining
(www.mcewenmining.com)
McEwen Mining’s goal is to qualify for inclusion
in the S&P 500 Index by creating a high growth, profitable gold
and silver producer focused in the Americas and Europe. McEwen
Mining's principal assets consist of the San José Mine in Santa
Cruz, Argentina (49% interest), the El Gallo Mine and El Gallo
Silver project in Sinaloa, Mexico, the Gold Bar project in Nevada,
USA, and the Los Azules copper project in San Juan, Argentina.
McEwen Mining has a total of 300 million shares
outstanding and 305 million fully diluted. Rob McEwen, Chairman and
Chief Owner, owns 25% of the Company.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTS
This 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, factors associated with 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. The
Company’s dividend policy will be reviewed periodically by the
Board of Directors and is subject to change based on certain
factors such as the capital needs of the Company and its future
operating results. 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, 2015 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 management of
McEwen Mining Inc.
CONTACT INFORMATION: |
|
Mihaela
IancuInvestor Relations(647) 258-0395 ext
320info@mcewenmining.com
Websitewww.mcewenmining.com |
|
Christina
McCarthyDirector of Corporate Development(647) 258-0395
ext 390corporatedevelopment@mcewenmining.com
Facebookfacebook.com/mcewenrob |
|
150 King Street
WestSuite 2800,P.O. Box 24Toronto, Ontario, CanadaM5H 1J9(866)
441-0690 Twittertwitter.com/mcewenmining |
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