McEwen Inc. to Acquire Canadian Gold in All-Share Transaction Valued at C$0.60 Per Share

McEwen Inc. (NYSE: MUX) (TSX: MUX) and Canadian Gold Corp. (TSX-V: CGC) announced a definitive agreement under which McEwen will acquire all issued and outstanding shares of Canadian Gold in an all-share transaction valued at C$0.60 per share, representing a 96.7% premium to Canadian Gold's prior closing price. Upon completion, expected in early January 2026, Canadian Gold will become a wholly owned subsidiary of McEwen, giving shareholders exposure to a diversified portfolio of producing assets and development projects. The acquisition adds the high-grade Tartan Lake Gold Mine Project in Manitoba to McEwen's pipeline, enhancing its growth profile and leveraging operational synergies.

The transaction is significant for shareholders of both companies as it provides Canadian Gold shareholders with a substantial premium while gaining exposure to McEwen's broader portfolio of mining assets. McEwen provides its 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. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada and the Deseado Massif in Santa Cruz province, Argentina. McEwen Inc. is also considering reactivating a gold and silver mine in Mexico.

This acquisition strengthens McEwen's position in the North American mining sector by adding another high-quality gold project to its development pipeline. The Tartan Lake Gold Mine Project represents a strategic addition that complements McEwen's existing operations and development projects. McEwen has a 46.4% interest in the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country's largest copper deposits. The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038.

The leadership structure at McEwen adds another layer of significance to this transaction. Rob McEwen, Chairman and Chief Owner, has a personal cost basis for his investment in the companies of over $200 million and takes a salary of $1 per year, aligning his interests closely 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 Ernest & Young 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. The latest news and updates relating to MUX are available in the company's newsroom at https://ibn.fm/MUX.