McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) has announced a year-end 2025 mineral resource estimate for its Grey Fox Project, part of the Fox Complex in Timmins, Ontario. The updated estimate reports 1.9 million indicated gold ounces and 436,000 inferred gold ounces, calculated using a gold price of $3,000 per ounce. This represents a 23% increase in indicated resources compared to the year-end 2024 estimate, reflecting ongoing exploration success and resource growth at the project.
The Grey Fox resource estimate incorporates both underground and open-pit mining scenarios, positioning the project for a pre-feasibility study scheduled for the second quarter of 2026. The company highlighted that the updated resource also includes potential for further growth through the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization efforts. McEwen stated that Grey Fox is expected to play a key role in its objective of doubling production by 2030 as the Fox Complex transitions into a long-life mining operation.
The full press release with detailed breakdowns is available at https://ibn.fm/Bc8Na. McEwen shares trade on both the NYSE and TSX under the ticker MUX. The company provides shareholders with exposure to a growing base of gold and silver production, in addition to a very large copper development project, all located in the Americas. The gold and silver mines are situated in prolific mineral-rich regions: 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.
McEwen holds 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. 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 and aims to be carbon neutral by 2038. Its feasibility study results were announced in a press release dated October 7, 2025.
Chairman and Chief Owner Rob McEwen has invested over US$200 million personally 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.
For the latest news and updates relating to MUX, visit the company’s newsroom at https://ibn.fm/MUX.
