MUX · McEwen Mining Inc.

McEwen Inc. has successfully closed its previously announced business combination with Golden Lake Exploration Inc., integrating the target's Jewel Ridge and Jewel Ridge West projects into the Gold Bar Mine Complex in Nevada's Eureka Mining District. These projects are strategically located adjacent to McEwen's Windfall and Lookout Mountain discoveries, positioning them for potential resource expansion. Historical drilling at Jewel Ridge demonstrates promising gold mineralization, with intercepts such as 2.20 gpt over 28.96 meters and 2.37 gpt over 67.57 meters, north of McEwen's recent 5.55 gpt over 44.2 meters at Windfall. The transaction terms provide clear exchange mechanics: Golden Lake shareholders receive 0.003876 McEwen shares per share held, with warrants cashlessly exercised and convertible notes converted prior to exchange. Golden Lake options were replaced with equivalent McEwen options exercisable within 90 days post-closing. Delisting from the CSE and cessation of reporting issuer status will streamline operations. For investors, this acquisition leverages existing McEwen infrastructure at Gold Bar, advancing the site's evolution into a long-life asset through targeted exploration, enhancing MUX's Nevada gold exposure without disclosed cash outlay.