McEwen Exercises Inventus Warrants and Increases Ownership to 12.7%

The CAD$1,104,000 investment raises McEwen’s Inventus holdings from 20,000,000 to 29,200,000 common shares.

Rhea-AI Summary

McEwen (MUX) increased its ownership of Inventus Mining to 12.7% through a warrant exercise on November 4, 2026.

The company acquired 9,200,000 Inventus common shares by exercising the same number of warrants at CAD$0.12 per share, paying CAD$1,104,000. Its holdings rose from 20,000,000 common shares, representing approximately 9% of Inventus at that time, to 29,200,000 common shares following the exercise.

McEwen said the acquisition was for investment purposes. It may acquire additional Inventus securities or dispose of some or all of its holdings, depending on market conditions, Inventus’ business and prospects, and other relevant factors. A copy of the Early Warning Report filed under applicable securities laws will be available under Inventus’ profile on SEDAR+.

Positive

• Minor pointInventus ownership increased to 12.7% from approximately 9%, with holdings rising to 29,200,000 common shares.

Negative

• Minor pointWarrant exercise required CAD$1,104,000 for 9,200,000 Inventus common shares at CAD$0.12 each.

Key Figures

Shares acquired: 9,200,000 common shares Exercise price: CAD$0.12 per Common Share Aggregate consideration: CAD$1,104,000 +2 more

Shares acquired

9,200,000 common shares

Acquired through warrant exercise

Exercise price

CAD$0.12 per Common Share

Warrant Exercise

Aggregate consideration

CAD$1,104,000

Warrant Exercise

Prior ownership

20,000,000 Common Shares; approximately 9%

Before the Warrant Exercise

Post-exercise ownership

29,200,000 Common Shares; 12.7%

Following the Warrant Exercise

Key Terms

common share purchase warrants, exercise price, early warning report

3 terms

common share purchase warrants financial

"exercise of 9,200,000 Common Share purchase warrants"

A common share purchase warrant is a tradable right that lets its holder buy a company’s ordinary shares at a fixed price for a set period, like a coupon that can be redeemed later to buy stock at a predetermined rate. Investors care because warrants offer leverage on future upside—they can magnify gains if the share price rises above the set price—but they can also dilute existing shareholders if used, and they expire worthless if unused.

exercise price financial

"at an exercise price of CAD$0.12 per Common Share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

early warning report regulatory

"A copy of the Early Warning Report filed under applicable securities laws"

An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX: MUX) (“McEwen” or the “Company”) announces that on November 4, 2026, McEwen acquired ownership of 9,200,000 common shares (each, a "Common Share") of Inventus Mining Corporation ("Inventus"), pursuant to the exercise of 9,200,000 Common Share purchase warrants at an exercise price of CAD$0.12 per Common Share (the "Warrant Exercise"), for aggregate consideration of CAD$1,104,000.

Prior to the Warrant Exercise, McEwen owned, directly or indirectly, or exercised control or direction over 20,000,000 Common Shares, which, at the time, represented approximately 9% of the total number of issued and outstanding Common Shares of Inventus.

Following the Warrant Exercise, McEwen owned, directly or indirectly, or exercised control or direction over 29,200,000 Common Shares, which represented 12.7% of the total number of issued and outstanding Common Shares of Inventus.

The acquisition of the Common Shares was made by McEwen for investment purposes. In accordance with applicable securities laws, McEwen may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments of Inventus (collectively, "Securities") in the open market or otherwise, and reserves the right to sell or otherwise dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Inventus and other relevant factors.

McEwen’s head office is located at 150 King Street West, Suite 2800, Toronto, Ontario, M5H 1J9. Inventus’ head office is located at 82 Richmond St. East, Toronto, Ontario, M5C 1P1.

A copy of the Early Warning Report filed under applicable securities laws will be available under Inventus' profile on SEDAR+ (www.sedarplus.ca).

ABOUT MCEWEN

McEwen combines growing gold and silver production with a major copper development project and a royalty portfolio across the Americas. McEwen shares trade on the NYSE and TSX under MUX.

McEwen holds a 46.3% interest in McEwen Copper, owner of Los Azules, a large, long-life copper project in San Juan, Argentina. The shovel-ready project completed its Feasibility Study and received approval under Argentina’s Large Investment Regime (RIGI) in 2025.

McEwen also holds a 1.25% net smelter return royalty on Los Azules and a 27% interest in Paragon Advanced Labs Inc., a publicly listed company deploying PhotonAssay™ technology worldwide.

Chairman and Chief Owner Rob McEwen has personally invested over US$293 million and takes a salary of $1 per year, aligning his interests with shareholders. His goal is to multiply the value of shareholders’ investments—and his own—as he did building Goldcorp Inc.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

The forward-looking statements and information expressed are as at the date of this news release and are McEwen 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. 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, 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 Company 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, foreign exchange volatility, foreign exchange controls, foreign currency risk, 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 Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and other filings with the Securities and Exchange Commission and Canadian securities regulators, 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 the management of McEwen.

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CONTACT INFORMATION			X:	X.com/mceweninc
150 King Street West			Instagram:	instagram.com/mceweninc
Suite 2800, PO Box 24
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(866)-441-0690 - Toll free line
(647)-258-0395		Rob McEwen	Facebook:	facebook.com/mcewenrob
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info@mcewenmining.com			X:	X.com/robmcewenmux

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did McEwen pay to increase its Inventus Mining stake?

McEwen paid CAD$1,104,000 by exercising 9,200,000 warrants at CAD$0.12 per common share on November 4, 2026. Following the exercise, it held 29,200,000 Inventus common shares, representing 12.7% of the outstanding common shares.