McEwen drills 74.7 m of 2.43 g/t Au at Windfall

Mr. Rob McEwen reports WINDFALL DRILLING AT GOLD BAR MINE COMPLEX INTERSECTS SIGNIFICANT MINERALIZATION: 2.4 GPT OXIDE GOLD OVER 74.7 METERS & 6.1 GPT HIGH-GRADE GOLD OVER 6.1 METERS McEwen Inc. has released encouraging new results from its 2025 drilling program at Windfall, part of the company's Gold Bar mine complex in the Eureka mining district of Nevada. The drilling program at Windfall represents one of several initiatives currently under way by the company to: (1) increase gold resources; (2) extend mine life; and (3) lower production costs at the Gold Bar mine. Windfall was acquired by McEwen as part of the Timberline Resources purchase in 2024. At the time of acquisition, Timberline had published a resource estimate for the Eureka property (Timberline Resources S-K 1300 report, 2023), which contained: 423,000 ounces gold in the measured and indicated categories from 23,423,000 tonnes grading 0.56 gram per tonne gold, or 25,819,000 tons grading 0.017 ounce per ton gold; 84,000 ounces gold in the inferred category from 6,641,000 tonnes grading 0.39 gram per tonne gold, or 7,322,000 tons grading 0.011 ounce per ton gold. Incorporating the 2024-2025 Windfall drill results into the estimate is expected to have a positive impact on the resource size. It has been the company's view that there is an opportunity to meaningfully increase the gold resources and incorporate them into the plan for the Gold Bar mine (now referred to as the Gold Bar mine complex), where the average grade mined during the first half of 2025 was 0.76 gram per tonne (0.022 ounce per ton) gold. The latest drilling results continue to validate this view. Notably, the Windfall area, which was not included in the previous resource estimate, continues to build on its earlier encouraging results. New key results from Windfall drilling: Drill hole WF039 intersected new near-surface oxide mineralization: 2.43 g/t Au gold over 74.7 metres; Including 12.79 g/t gold over 7.6 metres; Other strong near-surface oxide results include: 4.57 g/t gold over 12.2 metres (drill hole WF042); 1.70 g/t gold over 64.0 metres (drill hole WF037); 1.01 g/t gold over 89.9 metres (drill hole WF045); 0.77 g/t gold over 36.6 metres (drill hole WF044); New deeper high-grade zone continues to emerge: 6.10 g/t gold over 6.1 metres, including 13.42 g/t gold over 1.5 metres (drill hole WF101). This result in drill hole WF101, with base metal results pending, follows up with a 7.5-metre offset on drill hole WF033, which returned 8.08 g/t gold over 8.7 metres, including 50.32 g/t gold, 782 g/t silver, 15 per cent lead, 2.5 per cent zinc (62.47 g/t gold equivalent) over 1.3 metres (see press release dated Sept. 3, 2025). The company's interpretation is that this mineralization is controlled by the intersection of multiple faults. Other holes in this target area have been completed, with assays pending. The near-surface results demonstrate the continuity of oxide gold mineralization along a 1.6-kilometre-long (one-mile) section of the north-south-trending Windfall fault zone. The gold mineralization at Windfall remains open for further expansion in multiple directions. Why it should matter to McEwen's shareholders and the value of the company: This newly discovered gold mineralization is beyond the limits of the previous resource estimate. The gold mineralization remains open for further expansion, with very encouraging grades and thicknesses. The gold mineralization is near surface and oxidized, which means it could be potentially processed by heap-leach recovery, the same process being used at the Gold Bar mine. Windfall is located on private land, potentially allowing for faster production permitting. Drilling priorities for the remainder of 2025: Continue resource-definition and expansion drilling in the Windfall area; Test lateral and depth extensions of higher-grade zones; Work on publishing an updated resource estimate. About McEwen Inc. McEwen shares trade on both the New York Stock Exchange and the Toronto Stock Exchange under the ticker MUX. McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world: the Cortez trend in Nevada, United States, the Timmins district of Ontario, Canada, and the Deseado massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico. The company has a 46.4-per-cent interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina -- a region that hosts some of the country's largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is $456-million (U.S.). The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its feasibility study results were announced in the press release dated Oct. 7, 2025. Chairman and chief owner Rob McEwen has invested over $200-million (U.S.) personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the Ernest & Young Entrepreneur of the Year (Energy) award. His objective is to build the company's profitability and share value and eventually implement a dividend policy, as he did while building Goldcorp Inc. Technical disclosure Prepared under the supervision of Robert Kastelic, CPG, exploration manager in Nevada for McEwen and qualified person (QP) under SEC S-K 1300 and National Instrument 43-101. We seek Safe Harbor.