McEwen Inc. (NYSE: MUX) (TSX: MUX) has reported its year-end 2025 mineral resource estimate for the Grey Fox Project within the Fox Complex in Timmins, Ontario, revealing 1.9 million indicated gold ounces and 436,000 inferred gold ounces. The estimate, calculated at a $3,000 per ounce gold price, represents a 23% increase in indicated resources compared with year-end 2024. This updated resource incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for Q2 2026.
The company highlighted several factors contributing to potential further resource growth, including the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization efforts. According to McEwen, 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 detailing these developments is available at https://ibn.fm/Bc8Na.
Beyond its gold and silver operations, McEwen maintains a 46.4% interest in McEwen Copper, which owns the advanced-stage Los Azules copper development project in San Juan province, Argentina. The company announced Feasibility Study results for Los Azules in a press release dated October 7, 2025, describing the project as designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.
For investors seeking additional information, the latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX. The company's shares trade on both the NYSE and TSX under the ticker MUX, providing shareholders with exposure to a growing base of gold and silver production in addition to the large copper development project.
The resource update at Grey Fox comes as McEwen continues to expand its presence across the Americas, with operations in the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Santa Cruz province, Argentina. The company is also considering reactivating a gold and silver mine in Mexico, further diversifying its production portfolio. Chairman and Chief Owner Rob McEwen, who has invested over US$200 million personally and takes a salary of $1 per year, has stated his objective is to build MUX's profitability, share value and eventually implement a dividend policy.
