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Beyond the potential of our gold and silver assets, Los Azules provides MUX with large indirect exposure to the growth of the electric vehicle market, renewable energy and the continuing urbanization of Asia.

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Los Azules does not have reserves, but it has Indicated and Inferred resources of:. General Motors recently announced that it will be aggressively shifting to electric vehicles, producing 30 new electric models within 4 years, and producing only electric vehicles bywhich may be followed by the other auto manufacturers and create an increased demand for copper and other metals. We are concurrently working on two alternatives to fund the advancement and development of Los Azules. One alternative is to joint venture with a senior industry player to bring the project into production.

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The other alternative is to spin out Los Azules into a separate company and raise funds for it to aggressively advance the project towards a production decision. With the here copper price, we have received a heightened level of interest in Los Azules from major mining companies.

We are forecasting our gold equivalent production to be in the range oftogold equivalent ounces GEOs using a gold:silver ratio of The table below provides the forecast production by mine site. The turnaround at our operations is the result of new leadership in our senior executive and operations teams.

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At our Fox Complex in Timmins, we have a well-funded exploration program underway following on our successful exploration results from Also, we are completing the access ramp to the Froome deposit in late Q1 and expect to reach commercial production in Q4. Notes: 1 'Gold Equivalent Ounces' are calculated based on an assumed gold Investors Decisions Facebook Model and Economic Viability silver price ratio of Average annual AgEq production is from years 5 to 9.

Technical Information The technical content of this news release has been reviewed and approved by Peter Mah, P. The technical information in this news release related to resource estimates has been reviewed and approved by Luke Willis, P. Under NIMcEwen Investlrs reports measured, indicated and inferred resources, measurements which are generally not permitted in filings made with the SEC under Guide 7. The estimation of measured and indicated resources involve greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence aand economic viability than the estimation of other categories of resources. Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

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Therefore, Decsions. Under Guide 7, the tonnage and average grade described herein would be characterized as mineralized material. We provide such disclosure about our properties to allow a means of comparing our projects to those of other companies in the mining industry, many of which are Canadian and report pursuant to NIand to comply with applicable disclosure requirements. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc. 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, link 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 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 Investors Decisions Facebook Model and Economic Viability, 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 K for the fiscal year ended December 31, 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.

McEwen 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. Website: www.]