Production Update At The El Gallo Mine

TORONTO - McEwen Mining Inc. reported that production at the El Gallo Mine has exceeded guidance for the second quarter. With approximately 15,600 gold equivalent ounces produced so far in Q2, this marks the third consecutive quarter of record production at the El Gallo Mine. Production in Q1 this year totaled 15,391 gold equivalent ounces with year-to-date production of approximately 31,000 gold equivalent ounces.

The increase in gold production was driven by the combination of higher grades mined in the pit and improved gold recoveries consistent with the first quarter of this year. The Company continues to demonstrate the trend of sequential quarter-over-quarter increased production while continuing to lower cash costs. These achievements demonstrate the corporations focus on delivering a stable production profile with a consistent cost base while generating free cash flow.

Second quarter production at the San Jose Mine (49% owned) will be approximately 11,000 ounces of gold, and 788,000 ounces of silver attributable. Production is on track to achieve full year guidance of 46,500 ounces of gold, and 3.1 million ounces of silver. San Jose experienced an intermittent work stoppage in June that had a limited impact on second quarter production.

Total production during the second quarter will be approximately 26,530 ounces of gold and 797,000 ounces of silver. Full year production guidance remains unchanged at 96,500 ounces of gold and 3.12 million ounces of silver.