McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reported first-quarter 2026 financial results and provided updates on its development and exploration projects across Canada, the U.S., Mexico and Argentina, highlighting progress toward its ambitious goal of reaching annual production of 250,000 to 300,000 gold equivalent ounces (GEOs) by 2030. The company said it is benefiting from strong gold prices, which are supporting its expansion plans.
Among the key developments, McEwen is advancing mine development at the Stock and Grey Fox properties in Ontario, Canada. These projects are expected to contribute significantly to the company's production growth. Additionally, the company is focusing on resource growth at its Tartan and Windfall projects, while pursuing expansion initiatives at Gold Bar in Nevada and El Gallo in Mexico.
On the copper front, McEwen continues to advance the Los Azules copper project in Argentina through its 46.3%-owned subsidiary, McEwen Copper. The project is designed to be one of the world's first regenerative copper mines and aims to achieve carbon neutrality by 2038. The feasibility study results were announced in an October 7, 2025 press release. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million, or US$7.67 per share.
McEwen also recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a newly listed public company deploying PhotonAssay units globally. The company believes this technology is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be a leading service provider.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes an annual salary of $1, 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 ultimately implement a dividend policy, as he did while building Goldcorp Inc.
The company's shares trade on the NYSE and TSX under the ticker MUX. The full press release is available at https://ibn.fm/qiAmR. For more information, visit the company's newsroom at https://ibn.fm/MUX.
