Recent Discovery at Froome Mine Expands Along Strike and Down-Dip; Drilling at Depth Shows Potential to Extend Mine Life: 7.7 gpt gold over 20.4 m & 23.5 gpt gold over 3.7 m (true widths)

Rhea-AI Summary

McEwen (NYSE: MUX) reported new Froome West drill results showing continued high‑grade gold and expansion potential at the Froome Mine, Fox Complex, Timmins, Ontario.

Key facts: vertical extension +100 m (45% increase) since July 2025; notable intercepts include 23.5 gpt over 3.7 m and 7.7 gpt over 20.4 m (true widths); mineralization remains open at depth and to the West; four drills active and underground access established on four levels with mining commenced in upper zones.

Company plans an updated Froome West resource estimate by end of Feb 2026 and continued surface drilling into Q1 2026.

Positive

• Vertical high‑grade extension of 100 m (+45% since July 2025)
• High‑grade intercept: 23.5 gpt over 3.7 m (true width)
• High‑grade intercept: 7.7 gpt over 20.4 m (true width)
• Underground access on 4 levels with mining commenced in upper zones
• Updated Froome West resource estimate planned by end Feb 2026

Negative

• None.

News Market Reaction

-0.37%

9 alerts

-0.37% News Effect

-$4M Valuation Impact

$1.07B Market Cap

0.2x Rel. Volume

On the day this news was published, MUX declined 0.37%, reflecting a mild negative market reaction. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $4M from the company's valuation, bringing the market cap to $1.07B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

High-grade interval: 7.7 gpt over 20.4 m (TW) Deep high grade: 23.5 gpt over 3.7 m (TW) Vertical extension: 100 m (45% increase) +5 more

8 metrics

High-grade interval 7.7 gpt over 20.4 m (TW) Froome West drilling near existing underground development

Deep high grade 23.5 gpt over 3.7 m (TW) Drillhole 25PR-G475 at Froome West

Vertical extension 100 m (45% increase) Increase in higher-grade Froome mineralization since July 2025

Westward extension 50 m Gold mineralization extended to the West at Froome West

Active drills 4 drills Current drilling fleet at Froome West

Key interval 6.1 gpt over 10.4 m (TW) Drillhole 25PR-G478 near existing underground infrastructure

Resource update timing End of Feb 2026 Planned updated Froome West resource estimate

Underground levels 4 access levels Established in upper Froome West where mining has commenced

Market Reality Check

Price: $23.73 Vol: Volume 1,378,184 is 1.37x...

normal vol

$23.73 Last Close

Volume Volume 1,378,184 is 1.37x the 20-day average of 1,003,532, indicating elevated trading activity before this release. normal

Technical Price $19.28 is trading above the 200-day MA of $11.86, while sitting 22.51% below the 52-week high and well above the 52-week low.

Peers on Argus

MUX fell 2.95% with elevated volume, while peers were mixed: ASM up 3.7%, MTA up...

MUX fell 2.95% with elevated volume, while peers were mixed: ASM up 3.7%, MTA up 1.28%, ITRG up 7.51%, USAS up 11.18%, and SLSR down 0.87%. This pattern points to a more stock-specific move rather than a broad sector reaction.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Exploration update	Positive	-3.2%	Gold Bar exploration success targeting longer mine life and higher output.
Dec 04	Exploration results	Positive	-0.4%	High‑grade Froome West drilling with clear mine‑life extension potential.
Nov 06	Earnings and guidance	Negative	-10.0%	Q3 revenue drop, guidance cut and higher cost outlook to 2025.
Nov 03	Results call notice	Neutral	-4.8%	Scheduling Q3 2025 results call and Q&A session details.
Nov 03	Strategic acquisition	Positive	-1.4%	Agreement to acquire 31% of Paragon Geochemical using share consideration.

Pattern Detected

Across recent months, multiple operationally positive updates (exploration success and a strategic acquisition) were followed by negative 24-hour price reactions, while the clearly weak Q3 earnings release aligned with a sharp selloff.

Recent Company History

Over the last few months, McEwen released several operational and strategic updates. On Nov 3, 2025, it announced a 31% strategic interest in Paragon Geochemical, followed by Q3 results on Nov 6, 2025 that cut 2025 production guidance and raised cost guidance, triggering a -10% move. Subsequent exploration news at Froome and Gold Bar in early December highlighted meaningful mine-life extension potential, yet both saw modestly negative next-day reactions. This Froome release fits that recent pattern of positive field results versus cautious price action.

Market Pulse Summary

This announcement highlighted high‑grade Froome West drill results, including intercepts of 23.5 gpt...

Analysis

This announcement highlighted high‑grade Froome West drill results, including intercepts of 23.5 gpt over 3.7 m and 7.7 gpt over 20.4 m (true widths), plus a 100 m vertical and 50 m westward extension of mineralization. With four drills active, underground access on four levels and a resource update targeted by end of Feb 2026, investors may focus on how these results translate into updated resources, mine life and future operating plans alongside prior guidance changes.

Key Terms

gpt, true widths, photon assay, fire assay, +3 more

7 terms

gpt technical

"Drillhole 25PR-G475 returned 23.5 gpt gold over 3.7 meters"

GPT, or Generative Pre-trained Transformer, is a type of artificial intelligence that can understand and generate human-like text. It works like a highly advanced autocomplete system, predicting what words or sentences come next based on patterns it has learned from vast amounts of information. For investors, GPT’s ability to process and analyze language can enhance data interpretation, automate tasks, and support decision-making processes.

true widths technical

"7.7 gpt gold over 20.4 m & 23.5 gpt gold over 3.7 m (true widths)"

True widths refer to the actual difference between the highest and lowest prices at which a stock has traded over a specific period, reflecting its real price range. This measure helps investors understand how much a stock's price has moved, providing insight into its volatility and trading activity. A wider true width indicates greater price fluctuation, which can signal higher risk or potential opportunity.

photon assay technical

"assayed by the photon assay method at the accredited laboratory Paragon Geochemical"

A photon assay is a scientific test used to measure the amount of valuable minerals, such as gold or silver, in a rock sample by using powerful light beams to analyze its composition. This method provides rapid and precise estimates of mineral content, helping investors determine the potential profitability of a mining project. Accurate assessments like this are essential for making informed decisions about resource development and investment opportunities.

fire assay technical

"assayed by the fire assay method at the Fox Complex assay lab"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

ISO 17025 technical

"Paragon Geochemical (ISO 17025), Hamilton, Ontario"

ISO 17025 is an international standard that sets the rules for testing and calibration labs to show they produce accurate, consistent results and operate impartially. For investors, a lab that meets ISO 17025 is like a product carrying a trusted quality stamp—its test data and measurements are more likely to be accepted by regulators, customers and partners, reducing the risk that faulty or disputed testing will harm a company’s value or delay product approvals.

National Instrument 43-101 regulatory

"Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects""

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

QA/QC technical

"As part of our regular QA/QC program McEwen Inc. submits certified reference materials"

QA/QC stands for Quality Assurance and Quality Control, processes used to ensure products or services meet certain standards. Think of it as a way to check that a product is safe and works properly before reaching consumers, similar to how a chef tastes food before serving it. For investors, strong QA/QC practices indicate a company's commitment to delivering reliable, high-quality offerings, reducing risks and building trust.

AI-generated analysis. Not financial advice.

TORONTO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- McEwen Inc. (NYSE/TSX: MUX) is pleased to announce new drill results from its Froome Mine, part of the Fox Complex in Timmins, Ontario (Figure 1). Based on our confidence in the geological potential, four drills are now active at Froome West, targeting further expansion of these excellent results.

Why These Drill Results Are Important to Our Investors

 1.   Significant Extension of High-Grade Mineralization

• Extended the higher-grade gold mineralization by 100 meters vertically, representing a 45% increase since our last update in July 2025.

 2.   Potential to Extend Froome’s Mine Life and Improve Economics

• Greater mining flexibility, enabling higher production and lower costs.
  
• Mill feed from multiple sources from H2 2026, including the Stock Mine currently under development. 
• Continued exploration success could enable concurrent mining at Froome and Stock, supporting a meaningful extension of operations.

Unless specified as core widths (CW), all assay intervals in this press release are presented as true widths (TW).

Froome West Drill Highlights

a)  Some of the deepest intersections to date confirm that gold mineralization remains open at depth, providing confidence that additional resources exist below the currently planned limit of the mine. Follow-up drilling around these results aim to extend the mineralization and mine life at Froome (Figure 2).

• Drillhole 25PR-G475 returned 23.5 gpt gold over 3.7 meters and 11.5 gpt gold over 1.6 meters.
  
• Drillhole 25PR-G487 returned 4.6 gpt gold over 8.1 meters.

b)  Gold mineralization was extended up to 50 meters West, potentially increasing the number of defined ounces per vertical meter, an important metric in lowering future production and development costs per ounce (Figure 2).

• Drillhole 25PR-G454 returned 7.9 gpt gold over 6.4 meters.
  
• Drillhole 25PR-G457 returned 7.5 gpt gold over 4.4 meters.

c)  Drilling near recently completed underground infrastructure returned highly promising grades as seen below (Figure 2). Due to their proximity to existing underground development, the Company anticipates mining these areas during H1 2026.

• Drillhole 25PR-G478 returned 6.1 gpt gold over 10.4 meters.
  
• Drillhole 25PR-G467 returned 7.7 gpt gold over 20.4 meters.

Table 1. Highlights of recently received results from the drilling programs at Froome West.

HOLE-ID	FROM (m)	TO (m)	CW (m)	TW (m)	Au Grade (gpt)	GXM (TW) (gpt x m)
25PR-G433	68.7	69.3	0.6	0.5	27.7	14.0
25PR-G441	190.6	194.3	3.7	2.9	7.4	21.1
25PR-G449	321.0	326.0	5.0	3.9	7.1	27.9
25PR-G450	310.0	314.0	4.0	3.3	4.5	15.2
25PR-G451	313.0	319.0	6.0	2.6	6.0	15.6
25PR-G454	169.0	176.0	7.0	6.4	7.9	50.7
25PR-G457	215.4	221.0	5.6	4.4	7.5	33.1
25PR-G458	127.0	131.0	4.0	2.8	4.3	12.3
25PR-G459	136.9	141.7	4.7	3.1	3.3	10.3
25PR-G467	298.0	329.0	31.0	20.4	7.7	156.6
25PR-G468	284.0	288.0	4.0	1.5	12.0	18.5
25PR-G475	288.0	293.0	5.0	3.7	23.5	87.5
25PR-G475	356.0	358.0	2.0	1.6	11.5	18.4
25PR-G477	319.4	325.4	6.0	4.5	3.4	15.4
25PR-G478	328.0	343.0	15.0	10.4	6.1	63.8
25PR-G487	358.0	369.1	11.1	8.1	4.6	37.1

    Note: Numbers may not sum due to rounding.

Figure 1. Location of Froome West and Froome Mine relative to Black Fox and Grey Fox. Also shown are the section lines seen in Figures 3 and 4.

Figure 2. Longitudinal section (looking East Northeast) for Froome West and Froome Main.

Figure 3. Cross section looking Northwest, showing the orientation of the two limbs (South and North) and the existing and proposed development (shown as blue squares) from Froome Main.

Figure 4. Cross section looking Northwest, showing some of the high-grade intercepts at Froome West.

Next Steps at Froome

Surface diamond drilling will continue into Q1 2026 to further define the mineralization that remains open to the West and at depth.

Underground access on four separate levels has been established in the upper portion of Froome West, and mining has commenced. Three deeper levels are under development to access mineralization defined by the recent drilling (Figures 2 to 4).

McEwen plans to publish an updated resource estimate for Froome West at the end of February 2026.

A table of drill results at Froome West from July 16^th, 2025 to date, which includes hole locations and alignments, is available on the Company’s website and can be accessed by clicking here.

Technical Information

Technical information pertaining to the Fox Complex exploration contained in this press release has been prepared under the supervision of Sean Farrell, P.Geo., McEwen Ontario’s Exploration Manager, who is a Qualified Person as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects." 

Analyses reported herein were submitted either i) as full core samples and assayed by the photon assay method at the accredited laboratory Paragon Geochemical (ISO 17025), Hamilton, Ontario. McEwen recently signed an agreement to acquire 31% of Paragon Geochemical Laboratories; ii) as full core samples and assayed by the fire assay method at the Fox Complex assay lab located at the Stock Mill in Matheson, Ontario; iii) as full core samples and assayed by the photon assay method at the accredited laboratory MSA Labs (ISO 9001 & ISO 17025) in Timmins, Ontario. As part of our regular QA/QC program McEwen Inc. submits certified reference materials and blanks in the sample stream for the monitoring and assessment of laboratory processes and procedures. 

ABOUT MCEWEN

McEwen shares trade on both the NYSE and TSX 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, USA, 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% 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 US$456 million.

The Los Azules copper project is designed to be one of the world’s first regenerative copper mines, with a commitment to achieving carbon neutrality by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.

Chairman and Chief Owner Rob McEwen has personally invested over US$200 million 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 EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This 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 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, 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, 2024, 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 the management of McEwen.

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	WEB SITE		SOCIAL MEDIA
	www.mcewenmining.com		McEwen	Facebook:	facebook.com/mceweninc
				LinkedIn:	linkedin.com/company/mceweninc
	CONTACT INFORMATION			X:	X.com/mceweninc
	150 King Street West			Instagram:	instagram.com/mceweninc
	Suite 2800, PO Box 24
	Toronto, ON, Canada		McEwen Copper	Facebook:	facebook.com/ mcewencopper
	M5H 1J9			LinkedIn:	linkedin.com/company/mcewencopper
				X:	X.com/mcewencopper
	Relationship with Investors:			Instagram:	instagram.com/mcewencopper
	(866)-441-0690 - Toll free line
	(647)-258-0395		Rob McEwen	Facebook:	facebook.com/mcewenrob
	Mihaela Iancu ext. 320			LinkedIn:	linkedin.com/in/robert-mcewen-646ab24
	info@mcewenmining.com			X:	X.com/robmcewenmux

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/a082b9ea-212b-4b1a-aa50-d4a3e41aa6e5
https://www.globenewswire.com/NewsRoom/AttachmentNg/5ac91d8d-fdb8-4662-a61a-12349b94da5c
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9607ac6-ce03-407f-b253-caf3c3815392
https://www.globenewswire.com/NewsRoom/AttachmentNg/3aa3b5d0-763f-4d1f-b239-9eb7bf833ab2

FAQ

What key drill results did McEwen (MUX) report at Froome West on Dec 4, 2025?

Highlighted intercepts include 23.5 gpt over 3.7 m and 7.7 gpt over 20.4 m (true widths) and multiple additional high‑grade intervals.

How much vertical extension did Froome West mineralization show in the Dec 4, 2025 release?

The company reported a 100 m vertical extension, described as a 45% increase since the July 2025 update.

Will Froome West drilling affect mine life or production for MUX?

McEwen says the results could extend mine life, enable greater mining flexibility and support mill feed from multiple sources in H2 2026.

When will McEwen (MUX) publish an updated Froome West resource estimate?

The company plans to publish an updated Froome West resource estimate by the end of February 2026.

Is Froome mineralization still open following the Dec 4, 2025 drilling results?

Yes. The release states mineralization remains open at depth and to the West, with follow‑up drilling planned.

What operational steps has MUX taken at Froome after these drill results?

Four drills are active, surface drilling continues into Q1 2026, underground access on four levels is established, and mining commenced in upper Froome West.