MCEWEN MINING: Disruption of Mexican Operation
March 15 2021 - 4:03PM
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports
that activities at its El Gallo Project in Mexico have been
temporarily suspended as the result of an illegal blockade of
the main access to the property by members of nearby communities.
Certain individuals involved in the blockade believe that the
annual payments and infrastructure improvements made to the local
communities should increase significantly. El Gallo has operated
harmoniously with the local communities since mining started in
2012, having demonstrated a long-standing track record of
supporting local communities. In this context, the current
situation is surprising. The site remains minimally staffed to
maintain appropriate safety and security, and the environmental
systems. McEwen Mining is negotiating for a peaceful resolution to
the issues.
El Gallo has been residual heap leaching since
Q3 2018 and is expected to contribute 3-4% to the Company’s gold
equivalent production in 2021.
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 management of McEwen
Mining Inc.
ABOUT MCEWEN MININGMcEwen Mining is a
diversified gold and silver producer and explorer focused in the
Americas with operating mines in Nevada, Canada, Mexico and
Argentina. It also owns a large copper deposit in Argentina.
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