06/08/2026
McEwen announces a strong Pre-Feasibility Study for the Grey Fox Project at its Fox Complex in Timmins, Ontario.
Key highlights:
✔️ Mine life extended by 15 years to 2041
✔️ Expected to create 220 full-time jobs during its mine life
✔️ Fox Complex production to reach ~100,000 oz gold in 2029
✔️ Grey Fox full annual production to average ~87,000 oz gold from 2035
✔️ Initial CAPEX $181 million, with plans to self-fund growth with limited to no share dilution
✔️ Post-tax NPV (5%) $282 million and IRR 25% at $3,000/oz gold price scenario
✔️ Post-tax NPV (5%) $841 million and IRR 55% at $4,500/oz gold price scenario
Grey Fox is expected to become a cornerstone asset in McEwen's growth strategy, supporting the Company's objective of increasing annual production to 250,000–300,000 gold equivalent ounces by 2030.
Read the full announcement: https://www.mcewenmining.com/investor-relations/press-releases/press-release-details/2026/Pre-Feasibility-Study-for-Grey-Fox-at-Fox-Complex--High-Returns-Manageable-Capital-Mine-Life-Extended-to-2041/default.aspx