TORONTO, Ontario — January 13, 2026 — Leads & Copy — McEwen Inc. (NYSE/TSX: MUX) has announced the final drill results for the Tartan Mine Project near Flin Flon, Manitoba. These results will be included in the upcoming Mineral Resource Estimate.
The acquisition of Tartan was completed on January 5, 2026, through the purchase of Canadian Gold Corp. The updated Mineral Resource Estimate is expected to be released by the end of February and will inform future plans, as the Company aims to double production by 2030.
Highlights from the recent results include an intercept of 7.5 gpt gold over 18.9 metres. This expands the gold mineralization along the Western Flank beyond the previous result reported by Canadian Gold Corp., which returned 12.3 gpt gold over 14.0 metres (press release dated November 27, 2025). There appears to be excellent potential to further expand the size of the Tartan resource as the Main Zone is widening at depth while encountering similarly high gold grades.
Exploration at the Western Flank has been a primary focus for the past six months. Notable drill intercepts include today’s result of 7.5 gpt gold over 18.9 metres and intercepts released in late 2025, 12.3 gpt gold over 14.0 metres and 8.2 gpt gold over 9.9 metres.
The objective of the ongoing drilling is to increase the number of ounces per vertical metre, which could allow for higher annual gold production in a potential mine restart while driving economies of scale to lower production and development costs. This objective is being achieved, driven by the success along the Western Flank that shows the strike length of the Main Zone having expanded from 100 metres near surface to approximately 150 metres at depth.
Two additional drill results along the Western Flank returned 6.6 gpt gold over 7.0 metres and 4.9 gpt gold over 7.9 metres. These results have expanded the gold mineralization approximately 30 metres further to the west, over a vertical distance of 80 metres (from 520 to 600 metres below surface).
The Company is budgeting $3 million for exploration at Tartan in 2026 and plans to increase this total if strong results continue to be delivered throughout Q1. Good opportunities remain in the following areas: 1) Eastern Flank of the Main Zone, 2) At depth within the Main Zone, 3) South Zone (parallel to the Main Zone), and 4) Regionally along the Tartan Lake Shear Zone.
Since drilling was restarted by Canadian Gold in 2023, 35 of the 39 drill holes (approximately 90%) have successfully intersected what the Company believes to be potentially economic mineralization at the Main Zone.
Early exploration began in the 1920s, with construction of the Tartan Mine in the mid-1980s. Mining began in 1987 with a 250 tonne per day mill, which was further expanded to 500 tonnes per day. The mine produced approximately 47,000 ounces of gold before shutting down due to a decline in the gold price and mechanical challenges. The last NI 43-101 resource estimate was published in 2017 by Satori Resources Inc. (which became Canadian Gold Corp.) and showed Indicated resources of 240,000 ounces gold (1,180,000 tonnes at 6.32 gpt gold) and Inferred resources of 37,000 ounces gold (240,000 tonnes at 4.89 gpt gold) using a 3.0 gpt gold cut-off.
According to McEwen, Tartan is an increasingly rare high-grade gold project in Canada that has had limited exploration between 1989 and 2023. The recent results, combined with planned investment into exploration, will allow Tartan to become one of the Company’s key growth drivers as it moves towards its goal of doubling production by 2030. Tartan has the potential to become a lower cost, long-life mine.
This year will be important as the updated Mineral Resource Estimate is published and engineering and permitting is advanced to move towards a production decision. By leveraging existing mine infrastructure and the high-grade gold at Tartan, the Company aims to keep capital costs low and develop the mine in phases.
Wesley Whymark, P. Geo., Consulting Geologist for the Company, and a Qualified Person as defined under National Instrument 43-101, reviewed and approved the scientific and technical information disclosed in this news release.
Mihaela Iancu ext. 320, info@mcewenmining.com, (866)-441-0690 – Toll free line, (647)-258-0395
Source: McEwen Inc.
