McEwen Inc. (NYSE: MUX) (TSX: MUX) has released its year-end 2025 mineral resource estimate for the Grey Fox Project within the Fox Complex in Timmins, Ontario, reporting 1.9 million indicated gold ounces and 436,000 inferred gold ounces. The estimate, calculated at a gold price of $3,000 per ounce, reflects a 23% increase in indicated resources compared with year-end 2024. The updated estimate incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for Q2 2026.
The resource growth highlights potential for further expansion through the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization. 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. Investors can view the full press release 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 in the Americas. Its gold and silver mines are located in prolific mineral-rich regions: the Cortez Trend in Nevada, the Timmins district of Ontario, and the Deseado Massif in Santa Cruz, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.
The company 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 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.
