8-K

McEwen Inc. (MUX)

8-K 2022-07-12 For: 2022-07-07
View Original
Added on April 11, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) ofthe Securities Exchange Act of 1934

Date of Report (Date of earliest event

reported): July 7, 2022

McEWEN MINING INC.

(Exact name of registrant as specified in its charter)

Colorado<br> (State or other jurisdiction of<br> incorporation or organization) 001-33190<br> (Commission File<br> Number) 84-0796160<br> (I.R.S. Employer<br> Identification No.)

150 King Street West, Suite 2800

Toronto, Ontario, Canada  M5H 1J9

(Address of principal executive offices)  (Zip Code)

Registrant’s telephone number including area code:

(866) 441-0690

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨        Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨        Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨        Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨        Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock MUX New<br> York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.07. Submission of Matters to a Vote of Security Holders.

On July 7, 2022, McEwen Mining Inc. (the “Company”) held its annual meeting of shareholders. Of the 474,275,626 shares outstanding and entitled to vote at the meeting, 247,985,374 shares were voted, or approximately 52.29% of the outstanding shares entitled to vote.

At the annual meeting, the shareholders: (i) elected the eight individuals nominated to serve as directors; (ii) approved, on an advisory basis, the compensation of the named executive officers as described in the proxy statement (“say on pay”); (iii) approved, on an advisory basis, the frequency with which Company shareholders will be entitled to vote on the compensation of the named executive officers (“say on frequency”); (iv) ratified the appointment of Ernst & Young LLP (“EY”) as the Company’s independent registered public accounting firm for the year ending December 31, 2022; (v) approved a proposal to grant the Company’s board of directors (the “Board”) the discretion to amend the Company’s Second Amended and Restated Articles of Incorporation (“Articles of Incorporation”) to effect a reverse split of the Company’s outstanding common stock at a ratio of not less than 1-for-5 and not more than 1-for-10; and (vi) authorized and approved an amendment to the Articles of Incorporation to decrease the authorized number of shares of Company common stock from 675,000,000 to 200,000,000 (the “Decrease in Authorized Capital Amendment”).

Proposal 1


Election results for the directors nominated at the meeting are as follows:

Shares Voted
Name of Nominee For Withheld Broker Non-Votes
Robert R. McEwen 171,581,744 11,233,062 65,170,318
Allen V. Ambrose 168,694,429 14,120,377 65,170,318
Merri Sanchez 171,188,034 11,626,772 65,170,318
Richard W. Brissenden 171,099,372 11,715,434 65,170,318
Robin E. Dunbar 170,595,019 12,219,787 65,170,318
William M. Shaver 171,399,520 11,415,286 65,170,318
Donald R.M. Quick 171,096,051 11,718,755 65,170,318
Ian Ball 171,638,113 11,176,693 65,170,318

Proposal 2


Election results for say on pay vote are as follows:

For Against Abstain Broker Non-Votes
165,788,946 14,208,713 2,817,397 65,170,318

Proposal 3


Election results for say on frequency:

1 Year 2 Years 3 Years Abstain Broker Non-Votes
77,524,138 2,726,549 100,143,283 2,421,086 65,170,318
2

After the annual meeting the Board has determined, consistent with the vote of the Company's shareholders, that the Company will hold future say-on-pay votes every third three years until the next required vote on the frequency of say-on-pay votes is presented to shareholders.

Proposal 4


Election results for the ratification of the appointment of EY as the independent registered public accounting firm for the year ending December 31, 2022 are as follows:

For Against Abstain Broker Non-Votes
238,132,480 3,728,244 6,124,650 0

Proposal 5


Election results for proposal to grant the Board the discretion to effect the Reverse Stock Split are as follows:

For Against Abstain Broker Non-Votes
216,390,016 22,413,156 1,591,357 7,297,548

Proposal 6


Election results for proposal to Decrease in Authorized Capital Amendment are as follows:

For Against Abstain Broker Non-Votes
217,682,278 21,362,046 1,350,205 7,297,548

Item 7.01 Regulation FD Disclosure

At the annual meeting, the Company’s senior management made a presentation on the Company’s business, exploration, development efforts, financial results and condition. A copy of the PPT slides used in connection with the presentation is attached to this report as Exhibit 99.1.

On July 12, 2022, the Company issued a press release announcing the results of the annual meeting of shareholders held on July 7, 2022 and matters related to the anticipated reverse split of the Company's outstanding shares of common stock. A copy of that press release is attached to this report as Exhibit 99.2.

The information furnished under this Item 7.01, including the exhibits, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.

Item 8.01 Other Events

After the conclusion of the annual meeting the Board adopted resolutions authorizing the implementation of a reverse split of the Company’s outstanding common stock at a ratio of 1-for-10. However, the Company will not complete and effect the reverse stock split until the Company takes all requisite actions required under Colorado law and as required by the New York Stock Exchange and other applicable regulatory authority. At or about the time the reverse stock split is effected the Company intends to finalize and effect the Decrease in Authorized Capital Amendment.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed or furnished with<br>this report:
--- ---
99.1 PPT Slides dated July 7, 2022
--- ---
99.2 Press release dated July 12, 2022
104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document (contained in Exhibit<br>101)
--- ---
3

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

McEWEN MINING INC.
Date: July 12, 2022 By: /s/ Carmen Diges
Carmen Diges, General Counsel
4

Exhibit 99**.1**

Annual Meeting 2022<br>NYSE & TSX<br>July 7, 2022
MUX<br>MUX Annual Meeting Agenda<br>Formal Part of the Meeting<br>Carmen Diges, General Counsel<br>Company Presentations<br>Annual Meeting 2022 Rob McEwen, Chairman & Chief Owner<br>Operations William Shaver, COO<br>Exploration Stephen McGibbon, EVP - Exploration<br>Los Azules Michael Meding, VP & GM - McEwen Copper<br>Financials Perry Ing, CFO<br>Closing Remarks Rob McEwen, Chairman & Chief Owner<br>Q&A MUX Management
---
Formal Part of the Meeting<br>NYSE & TSX<br>Carmen Diges<br>General Counsel
---
Annual Meeting 2022<br>NYSE & TSX<br>Rob McEwen<br>Chairman & Chief Owner
---
MUX<br>Cautionary Statement<br>This presentation and the information included herein do not constitute an offer to buy or the<br>solicitation of an offer to subscribe for or to buy any of the securities described herein, nor shall there<br>be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be<br>unlawful prior to registration or qualification under the securities laws of any such jurisdiction.<br>This presentation contains certain forward-looking statements and information, including "forward-<br>looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995<br>("Forward-looking Statements"). The Forward-looking Statements are intended to be subject to the<br>safe harbor provided by Section 27a of the Securities Act of 1933, Section 21e of the Securities<br>Exchange Act of 1934 and Private Securities Litigation Reform Act of 1995. The Forward-looking<br>Statements express, as at the date of this presentation, McEwen Mining Inc. (the "Company")<br>estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-<br>looking Statements are necessarily based upon a number of estimates and assumptions that, while<br>considered reasonable by management, are inherently subject to significant business, economic and<br>competitive uncertainties, risks and contingencies. There can be no assurance that such statements<br>and information will prove to be accurate. Therefore, actual results and future events could differ<br>materially from those anticipated in such statements and information. Risks and uncertainties that<br>could cause results or future events to differ materially from current expectations expressed or implied<br>by the Forward-looking Statements include, but are not limited to, factors associated with fluctuations<br>in the market price of precious metals, mining industry risks, political, economic, social and security<br>risks associated with foreign operations, the ability of the corporation to receive or receive in a timely<br>manner permits or other approvals required in connection with operations, risks associated with the<br>construction of mining operations and commencement of production and the projected costs thereof,<br>risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty<br>as to calculation of mineral resources and reserves, risk of delisting from a public exchange, and other<br>risks. Readers should not place undue reliance on Forward-looking Statements, which speak only as<br>of the date hereof. The Company undertakes no obligation to reissue or update Forward-looking<br>Statements as a result of new information or events after the date hereof, except as required by law.<br>See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, the<br>Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and other filings with the<br>Securities and Exchange Commission (the “SEC”), under the caption "Risk Factors", for additional<br>information on risks, uncertainties and other factors relating to the Forward-looking Statements. All<br>Forward-looking Statements made in this presentation are qualified by this cautionary statement.<br>Unless otherwise stated, all currency information quoted in this presentation is in U.S. dollars.<br>The technical contents of this presentation, including reserves, have been reviewed and approved by<br>William Shaver, COO; the exploration technical contents of this presentation including resources<br>content have been reviewed and approved by Stephen McGibbon, EVP Exploration and Luke Willis,<br>P. Geo., Director of Resource Modelling; all are Qualified Persons as defined by Canadian Securities<br>Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects".<br>Securities and Exchange Commission (“SEC”).We are subject to the reporting requirements of the<br>Securities and Exchange Act of 1934, as amended (the “Exchange Act”) and applicable Canadian<br>securities laws, and as a result, we have reported our mineral reserves and mineral resources<br>according to two different standards. U.S. reporting requirements are governed by Item 1300 of<br>Regulation S-K (“S-K 1300”), as issued by the U.S. Securities and Exchange Commission (“SEC”).<br>Canadian reporting requirements for disclosure of mineral properties are governed by National<br>Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), as adopted from the<br>definitions provided by the Canadian Institute of Mining, Metallurgy and Petroleum. Both sets of<br>reporting standards have similar goals in terms of conveying an appropriate level of confidence in the<br>disclosures being reported, but the standards embody slightly different approaches and definitions. All<br>disclosure of mineral resources and mineral reserves in this report are reported in accordance with S-<br>K 1300.<br>Investors should be aware that the estimation of measured resources and indicated resources involve<br>greater uncertainty as to their existence and economic feasibility than the estimation of proven and<br>probable reserves, and therefore investors are cautioned not to assume that all or any part of<br>measured or indicated resources will ever be converted into S-K 1300- compliant reserves. The<br>estimation of inferred resources involves far greater uncertainty as to their existence and economic<br>viability than the estimation of other categories of resources, and therefore it cannot be assumed that<br>all or any part of inferred resources will ever be upgraded to a higher category. Therefore, investors<br>are cautioned not to assume that all or any part of inferred resources exist, or that they can be mined<br>legally or economically.
---
MUX<br>MUX: Cautionary Note Regarding<br>NON-GAAP Measures<br>In this presentation, we have provided information prepared or calculated according to<br>U.S. GAAP, as well as provided some non-U.S. GAAP ("non-GAAP") performance<br>measures. Because the non-GAAP performance measures do not have any<br>standardized meaning prescribed by U.S. GAAP, they may not be comparable to<br>similar measures presented by other companies.<br>Total Cash Costs per GEO, and All-in Sustaining Costs (“AISC”) per GEO.<br>Total cash costs consist of mining, processing, on-site general and administrative<br>costs, community and permitting costs related to current explorations, royalty costs,<br>refining and treatment charges (for both doré and concentrate products), sales costs,<br>export taxes and operational stripping costs. All-in sustaining cash costs consist of<br>total cash costs (as described above), plus environmental rehabilitation costs,<br>amortization of the asset retirement costs related to operating sites, sustaining<br>exploration and development costs, and sustaining capital expenditures. In order to<br>arrive at our consolidated all-in sustaining costs, we also include corporate general and<br>administrative expenses. Depreciation is excluded from both total cash costs and all-in<br>sustaining cash costs. For both total cash costs and all-in sustaining costs we include<br>our attributable share of total cash costs from operations where we hold less than a<br>100% economic share in the production, such as MSC, where we hold a 49% interest.<br>Total cash cost and all-in sustaining cash cost per GEO sold are calculated on a co-<br>product basis by dividing the respective proportionate share of the total cash costs and<br>all-in sustaining cash costs for the period attributable to each metal by the ounces of<br>each respective metal sold. We use and report these measures to provide additional<br>information regarding operational efficiencies both on a consolidated and an individual<br>mine basis, and believe that these measures provide investors and analysts with<br>useful information about our underlying costs of operations. A reconciliation to the<br>nearest U.S. GAAP measure is provided in McEwen Mining's Annual Report on Form<br>10-K for the year ended December 31, 2021.<br>Earnings from Mining Operations<br>The term Earnings from Mining Operations used in this presentation is a non-GAAP<br>financial measure. We use and report this measure because we believe it provides<br>investors and analysts with a useful measure of the underlying earnings from our<br>mining operations. We define Earnings from Mining Operations as Gold and Silver<br>Revenues from our El Gallo Mine, Black Fox Mine, and our 49% attributable share of<br>the San José Mine's Net Sales, less their respective Production Costs Applicable to<br>Sales. To the extent that Production Costs Applicable to Sales may include<br>depreciation and amortization expense related to the fair value increments on historical<br>business acquisitions (fair value paid in excess of the carrying value of the underlying<br>assets and liabilities assumed on the date of acquisition), we deduct this expense in<br>order to arrive at Production Costs Applicable to Sales that only include depreciation<br>and amortization expense incurred at the mine-site level. The San José Mine Net<br>Sales and Production Costs Applicable to Sales are presented, on a 100% basis, in<br>Note 5 of McEwen Mining's Annual Report on Form 10-K for the year ended December<br>31, 2021.<br>Cash, Investments and Precious Metals<br>The term cash, investments and precious metals used in this presentation is a<br>non-GAAP financial measure. We report this measure to better understand our liquidity<br>in each reporting period. Cash, investments and precious metals is calculated as the<br>sum of cash, investments and ounces of doré held in inventory, valued at the London<br>P.M. Fix spot price at the corresponding period. A reconciliation to the most directly<br>comparable U.S. GAAP measure, Sales of Gold and Silver, is provided in McEwen<br>Mining's Annual Report on Form 10-K for the year ended December 31, 2021.
---
MUX<br>Gold, Silver, Copper<br> • 3 Mines<br>Fox Complex<br>Gold Bar<br>San José<br> • 76% McEwen Copper Los Azules<br>Argentina (76%)<br>Fox Complex<br>Timmins, Canada (100%)<br>Gold Bar<br>Nevada (100%)<br>Annual Meeting 2022<br>Rob McEwen<br>Chairman & Chief Owner<br>El Gallo – Fenix Project<br>Mexico (100%)<br>San José<br>Argentina (49%)
---
MUX<br>2022 Production & Guidance<br>GEO - gold equivalent ounces. 2022 guidance - Mar 10, 2022 press release. Q1 2022 production: May 10, 2022 press release. Numbers may not add due to rounding. Total silver production source: San Jose & 1000 oz Ag from<br>the other mines in Q1, San Jose and 1,800 oz Ag from other mines in Q2. Gold:silver ratios: 78:1 for Q1 2022, 82.6:1 for Q2 2022. Total production guidance for 2022 includes 1,500 GEOs from El Gallo.<br>Ounces Q1 2022 Q2 2022<br>Preliminary<br>YTD<br>Preliminary<br>2022 Guidance Ranges<br>Production Ounces Cash Costs/ GEO AISC/ GEO<br>Fox Complex,<br>Canada (100%) GEO 7,700 11,900 19,600 44,000 - 49,000<br>$1,310 - $1,410 $1,570 - $1,690<br>Gold Bar Mine,<br>Nevada (100%) GEO 6,300 5,300 11,600 38,000 - 44,000<br>San José Mine,<br>Argentina (49%)<br>Gold 6,450 12,100 18,550 34,500 - 38,500<br>$1,330 - $1,370 Silver 335,500 635,500 971,000 2,520,000 - 2,800,000<br>GEO 10,700 19,800 30,500 69,500 - 77,500<br>Total<br>Production*<br>Gold 20,850 29,400 50,250 118,000 - 133,000<br>Silver 336,500 637,300 973,800 2,520,000 - 2,800,000<br>GEO 24,630 36,905 61,535 153,000 - 172,000
---
MUX<br>Fox Complex Operations Update<br> • Froome production ahead of schedule on<br>tonnes & ounces<br> • Mine development on target<br> • Mill recovery slightly higher than budget<br> • Present stockpile on surface 60,000 tonnes<br> • Mill improvements to increase production<br>by debottlenecking of process continuing<br>and to be completed in Q3<br> • Production through to year-end expected<br>to meet guidance<br> • Exploration success at Froome to allow the<br>mine to operate into 2025<br>Fox Complex<br>Ontario, Canada<br>Operations<br>William Shaver<br>Chief Operating Officer<br>35 m
---
MUX<br>0<br>1,000<br>2,000<br>3,000<br>4,000<br>5,000<br>6,000<br>Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br>OZ AU<br>Budget Actuals<br>Fox Complex Production<br>2022 Production Guidance 44,000 – 49,000 Gold oz<br>2021 2022<br>Production<br>Forecast
---
MUX<br>San José<br>Mine<br>N<br>2021 Production6<br>270,000 oz Au<br>20 km<br>Newmont<br>Cerro Negro Mine<br>12 miles<br>San José<br>Argentina<br>San José Operations Update<br> § Large Property<br> § High Grade Mine<br> § Surrounds Newmont<br> § On Track to Meet Annual Guidance<br>Reserve Grade 1 342 gpt Silver<br>5.7 gpt Gold<br>Mine Life 2 6 Years<br>2022E Production 3,4 2.5 - 2.8 Moz Silver &<br>34.5 - 38.5 Koz Gold<br>2022E AISC5 $18.5 - $19.0/ oz Ag Eq<br>$1,330 - $1,370/ oz Au Eq<br>Property<br>outline<br>(49% Owned)<br>1., 2. Hochschild “Annual Report and Accounts 2021”. 3. Based on 49% MUX ownership basis. 4. MUX Mar 1, 2022 press release 5. Hochschild Feb 27-Mar 2 Mar 2022 presentation.<br>6. Newmont 2021 Annual Report.
---
MUX<br>Gold Bar Operations Update<br>Operations<br>William Shaver<br>Chief Operating Officer<br>10 km<br>6 miles
---
MUX<br>Gold Bar Highlights<br> • H1 2022 troubled with contractor manpower recruitment, which is an issue for all operations in<br>Northern Nevada<br> • The manpower recruitment being addressed by the contractor with help from Gold Bar by<br>supplementing accommodation cost<br> • Q2 production less than scheduled due to carbonaceous ore encountered in the Pick Pit,<br>which required a drilling program to identify the location of the carbonaceous material<br> • We are also preparing other sources for mining in H2 if carbonaceous ore reappears<br> • Organizing to start mining Gold Bar South in Q4, this ore has no carbonaceous contamination.<br>The grade in Q4 should be higher than Pick Pit due to higher grades in the Gold Bar South<br>Starter Pit
---
MUX<br>0<br>1,000<br>2,000<br>3,000<br>4,000<br>5,000<br>6,000<br>7,000<br>Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec<br>OZ AU<br>Budget Actuals<br>2021 2022<br>Production<br>Forecast<br>Gold Bar Mine Production<br>2022 Production Guidance 38,000 – 44,000 Gold oz1<br>1. Assumes Gold Bar South begins production in Q4 2022
---
MUX<br>Fox<br>Stock Mine/Mill<br>(0.1M oz)<br>6 miles<br>10 km N Fox West<br>(2.2M oz)<br>Fault Zone<br>Mine or Deposit<br>Temiskaming Sediments<br>Historic Production<br>Fox Complex<br>Ontario, Canada<br>Fox East<br>Froome<br>Grey Fox<br>Black Fox<br>(1.0 M oz)<br>Timmins<br>Fox Complex – Good Address<br>Exploration<br>Stephen McGibbon<br>EVP - Exploration<br> • 70 million oz historic production in the Timmins Camp<br> • >30 km of Primary & Secondary Structural Controls<br> • 3.3 M oz historic production including 1.0 M oz Fox East<br> • Gold Resources: 1.94 M oz M+I @ 4.24 g/t, 0.5 M oz Inferred @ 3.89 g/t<br> • $7.5 M Exploration Budget for 2022<br>Matheson<br>Destor-Porcupine<br>Fault Zone<br>(1.0 M oz)
---
MUX<br>Fault Zone<br>Mine or Deposit<br>Temiskaming Sediments<br>Legend<br>Fox Complex – Black Fox, Froome, Grey Fox<br>Flow-Through Exploration Success<br>Gibson<br>-Kelore Fault<br>A-1 Fault<br>Destor<br>-Porcupine Fault Zone<br>Black Fox Mine<br>950,000 oz Produced<br>Grey Fox Deposit<br>1,168,000 oz Au Indicated @ 4.80 g/t<br>236,000 oz Au Inferred @ 4.35 g/t<br>21GF-1350<br>7.29 g/t / 15.4m<br>21GF-1333<br>5.33 g/t / 21.2m<br>Froome Mine<br>194,000 oz Au M+I @ 4.22 g/t<br>29,000 oz Au Inferred @ 3.32 g/t<br>N
---
Fox Complex –<br>Froome Mine Exploration Drilling<br> • Goal:<br> • Focus:<br> • 2022 budget $3.6M (exploration,<br>delineation & definition drilling)<br> • Key points:<br>replace mined ounces &<br>increase mineral resources;<br>Below mine infrastructure to<br>depth<br>Open at depth;<br>2022 success shown;<br>Extensive 37,600 m<br>drilling program<br>Heat map: Grade x Thickness (GXM)
---
MUX<br>Fox Complex – Stock<br>Resource Growth Potential<br>Plan View<br>Stock Mine<br>137,000 oz Au historic production<br>@ 5.48 gpt<br>Fault Zone<br>Timiskaming Sediments<br>Destor-Porcupine Fault Zone<br>Nighthawk Fault<br>Stock East<br>Indicated : 95,000 oz @ 2.41 gpt<br>Inferred: 2,000 oz @ 2.32 gpt<br> • Historical grades processed at Stock Mine +5 g/t Au<br> • Gold stream-free land package<br> • Proximal to the mill, near surface<br>Stock West<br>Indicated: 144,000 oz @ 3.83 gpt<br>Inferred: 111,000 oz @ 3.30 gpt<br>Heat Map: Grade x Thickness (GXM)
---
MUX<br>Fox Complex - Stock Exploration in 2022<br>S21-203*<br>(2.61 g/t / 6m<br>6.69 g/t / 2.9m)<br>S21-178A*<br>(9.36 g/t / 3m<br>2.48 g/t / 15m)<br>S19-095*<br>(27.20 g/t / 7.0m)<br>S21-202* (4.29 g/t / 21m)<br>SEZ19-35*<br>(83.49 g/t / 5.6m)<br>SAS-55*<br>(4.59 g/t / 14.5m)<br>Stock West Surface Stock Mine Stock East<br>* - previously released assays<br>Longitudinal Section - Looking North<br>S18-31* (4.01 g/t / 11.1m)<br>S21-175A* (3.27 g/t / 11m)<br>0 m<br>500 m<br>1,000 m<br>Heat Map: Grade x Thickness (GXM)
---
MUX<br>Gold Bar – Good Address<br>1. Includes past production and current resources<br>Gold Bar<br>Nevada, USA<br>On Trend - Similar Geology<br>Criteria Cortez &<br>Gold Bar<br>Large footprint,<br>shallow oxide gold ü<br>Host rock, alteration,<br>mineralization style ü<br>Major faults,<br>structural traps ü<br>Intrusions ü<br>MUX Property<br>NGM Property<br>Faults<br>Mine or Deposit<br>Legend<br>20 km<br>12 miles<br>N<br>Cortez Fault<br>Cortez<br>Nevada Gold Mines<br>Cortez<br>50 M oz Au cluster1<br>Fourmile<br>Discovery<br>Goldrush<br>Wall Fault<br>Gold Bar Roberts Creek<br>Fault<br>Tonkin<br>Atlas<br>Indicated Resource<br>1.45M oz @ 1.41 g/t<br>Indicated Resource<br>452,000 oz Au @ 0.91 g/t<br>Historic & Recent Production<br>575,000 oz Au
---
MUX<br>Gold Bar<br>South<br>Legend<br>Mine<br>Deposit<br>Near mine targets<br>Brownfield<br>Fault Zone Roberts Creek Fault<br>Wall Fault<br>Pick<br>Ridge<br>Cabin<br>Ridge Fault Cabin Fault<br>0 1 2<br>Miles<br>Pot<br>Canyon<br>N<br>Cabin South<br>Atlas*<br>Cortez<br>Fault<br>Gold Bar<br>Fault<br>* Actual Atlas location is 1-mile further west<br>Gold Bar - Priority Targets Near Mine & Brownfields
---
MUX<br>Gold Bar - Atlas Opportunity<br> • Historic production 286,400 oz gold @ 2.5 g/t;<br>highest grade deposit on Gold Bar property<br> • Targets along Footwall Fault, Atlas East & South<br> • High-grade mineralization intersected in 2021 @<br>Atlas East: 3.1 g/t Au along 27.4 m (90 ft)<br> • West dump may have re-processing potential<br>owing to high grade of Atlas Mine;<br>assays pending from sonic drill program<br>N<br>Atlas<br>South<br>OGB-010<br>27.4 m @ 3.1 g/t Au<br>DH5-303<br>29 m @ 8.5 g/t Au<br>(mined out)
---
MUX<br>Gold Bar - Atlas Opportunity<br> • Several prospective faults remain untested<br>based on 2021 gravity survey results<br> • The survey confirms that the bedrock is closer<br>to surface than previously thought, meaning<br>less overburden needs to be removed &<br>quicker access to potential mineralization<br> • Southern extension looks particularly attractive<br>with warm yellow & red colors extending well<br>south of Atlas Pit.<br> • Work to continue in H2 2022.<br>= Interpreted faults from Gravity survey<br>Property Boundary<br>(Gravity survey warm colors = shallower bedrock)
---
MUX<br>N<br>20 km<br>Newmont<br>Cerro Negro Mine<br>12 miles<br>San José - Exploration Targets<br> § Q1 2022 - 2,049 m exploration drilling around<br>mine & Saavedra area. Highlights:<br>6.0 g/t Au & 236 g/t Ag over 1.5 m (hole SJD-2451)<br>8.3 g/t Au & 561 g/t Ag over 1.2 m (hole SJD-2453)<br>2.8 g/t Au & 546 g/t Ag over 1.1 m (hole SJD-2453)<br>Hochschild Mining sources: presentation dated 27 Feb – 2 Mar 2022, April 26, 2022 press release<br>Aguas Vivas<br>Saavedra<br>Telken North<br>Telken<br>South<br>Observed veins<br>Inferred veins<br> § 2022 - 12,000 m drilling planned<br>Drill program focused on high grade veins:<br> – San José<br> – Saavedra West<br>San José<br>Argentina<br>San José
---
MUX<br>Formation of a New Copper Developer<br>Los Azules<br>Michael Meding<br>VP & GM McEwen Copper
---
MUX<br>Los Azules Video
---
MUX<br>Project Country Majority Owner Development Status Geology<br>1 Pebble United States Northern Dynasty Minerals Preliminary Economic<br>Assessment Porphyry, Supergene Copper<br>2 Resolution United States Rio Tinto Feasibility Porphyry<br>3 La Granja Peru Rio Tinto Advanced Exploration Porphyry<br>4 Kerr-Sulphurets-Mitchell (KSM) Canada Seabridge Gold Prefeasibility Porphyry, Skarn<br>5 Nueva Union Chile Teck Resource/Newmont Prefeasibility Porphyry<br>6 Tampakan Philippines Sagittarius Feasibility Porphyry<br>7 El Pachon Argentina Glencore Advanced Exploration Porphyry<br>8 Lessard Canada Landore Resources Advanced Exploration Volcanic Hosted Massive<br>Sulfide<br>9 Los Azules Argentina McEwen Copper Preliminary Economic<br>Assessment<br>Porphyry, Supergene<br>Copper<br>10 Twin Metals Minnesota United States Antofagasta Prefeasibility Magmatic Sulfide<br>Los Azules – 9th Largest Undeveloped<br>Copper Project in the World<br>Source: Mining Intelligence Notes: 1. Pebble and KSM are also ranked top 10 for gold<br>2. Lessard has only inferred resources, as no work has been done on the project since 2008
---
MUX<br>Tenke Phase 3<br>Cumulative Production (Paid kt Cu)<br>Goldman Sachs<br>Los Azules in Lowest Cost Quartile<br>Pebble<br>El Abra Mill<br>Al Arco<br>Galore Creek<br>Los Azules<br>Los Chancas<br>Salobo 3 San Nicolas<br>Canaria Norte<br>Harper Creek<br>Kamoa<br>-<br>Kakula<br>Resolution Kansanshi Sulphide<br>Ann Mason<br>Los Helados<br>Ajax Cuajone Kerr<br>-<br>Sulphurets<br>-<br>Mitchell<br>Rosemont<br>Nueva Union<br>Galeno<br>Radomiro Tomic<br>Collahuasi GL4 Koksay<br>Los Calatos<br>Michiquillay<br>Haquira<br>Quebrada Blanca II<br>Schaft Creek La Granja<br>Mina Justa<br>Udokan<br>Inca de Oro<br>Agua Rica<br>Cotabambas<br>Los Pelambres 205<br>Frieda RIver<br>Cristalino<br>Andina Phase 2<br>Tampakan<br>Centinala DMC Zafranal<br>Wafi Golpu<br>Taca Golpe<br>Cerro Casale<br>El Pachon<br>Josemaria<br>Aynak<br>King King<br>Required copper price (US$/t Cu)<br>Spot Copper Price<br>Source: Oct 4, 2018 Copper Top Projects Report by Goldman Sachs Global Investment Research.<br>*According to April 13, 2021 Goldman Sachs Report. Based on Los Azules 2017 PEA<br>Price Required at Risked-IRR (12%)*<br>Q1 Q2 Q3 Q4<br>New Prosperity<br>14,000<br>13,000<br>12,000<br>11,000<br>10,000<br>9,000<br>8,000<br>7,000<br>6,000<br>5,000<br>4,000<br>3,000<br>2,000<br>1<br>2<br>3 4<br>5<br>6<br>7<br>9
---
MUX<br>VISION – To Create a Regenerative Mine<br>One that:<br> • Has a net-positive ecological impact<br> • Is carbon negative<br> • Is a desirable place to work, safe & healthy<br> • Is a technologically advanced mine<br> • Will appeal to a wider investor audience<br> • Its copper production is essential to the world’s transition to renewable energy
---
MUX<br>CHILE<br>ARGENTINA<br>MINE<br>DEVELOPMENT<br>San Juan<br>Escondida BHP/Rio Tinto<br>Taca Taca First Quantum<br>Lindero Fortuna Silver<br>Mara Alumbrera/Agua Rica<br>Los Azules<br>McEwen Copper<br>Altar Aldebaran Resources<br>Los Pelambres Antofagasta<br>El Pachón Glencore<br>Andina Codelco<br>Los Bronces Anglo American<br>Josemaria Lundin Mining<br>Filo del Sol Filo Mining<br>Pascua Lama Barrick<br>Veladero Barrick Shandong<br>Located Amongst Giant Deposits
---
MUX<br>Los Azules: Preliminary Economic Assessment<br>(PEA)<br>Highlights of the 2017 Los Azules PEA1 (Hatch Engineering)<br>Average annual production 1st 13 Years 415 Million lbs Cu at $1.14/lb cash cost<br>Mine Life 36 years<br>Initial Capex $2.4 Billion<br>Base Case Cu Price $3.00/lb<br>Payback 3.6 years<br>After-Tax IRR 20.1%<br>After-Tax NPV 8% $2.2 Billion<br>Enough copper to supply 2.2 million electric vehicles per year2<br>12017 PEA - “NI 43-101 Technical Report - Preliminary Economic Assessment Update for the Los Azules Project, Argentina”(Hatch). Project economic metrics are presented on post-project approval basis (after completion of additional drilling, prefeasibility &<br>feasibility studies). Economic assessments are calculated at project level, do not include certain costs including corporate office, interest, financing & exploration expenses. 2Assuming 183 lbs Cu/ vehicle (Copper Development Association Inc. - copper.org)
---
MUX<br>Los Azules<br>Among Largest Copper Deposits in the World<br> • By 2021:<br>- Drilled 66 km in 202 vertical holes.<br>- 26 historic holes stopped in mineralization.<br> • In 2022:<br>- Drilled 13.5 km in 29 mostly inclined holes, improving<br>geologic modelling for upgraded resources.<br>- 2nd drilling campaign from October.<br>- Incorporating high-tech hyperspectral core scanning for<br>improved geological, mining & metallurgical processing<br>knowledge.<br> • 2022-23 Campaign:<br>- Includes further metallurgical, geotechnical & hydrology<br>programs.<br>- Drilling to further increase confidence within the enriched<br>zone.<br>Tonnes Copper<br>lbs<br>Gold<br>oz<br>Silver<br>oz<br>Indicated 962 Million 10.2 Billion<br>0.48%<br>1.7 Million<br>0.06 g/t<br>55.7 Million<br>1.8 g/t<br>Inferred 2,666 Million 19.3 Billion<br>0.33%<br>3.8 Million<br>0.04 g/t<br>135.4 Million<br>1.6 g/t
---
MUX<br>AZ22149:<br> • 298.0 m of 0.55% Cu<br>including<br>54.0 m of 1.38% Cu<br>Recent Drill Results Highlights<br>AZ22149
---
MUX<br>Recent Drill Results Highlights<br>AZ22146<br>AZ22149:<br> • 298.0 m of 0.55% Cu<br>including<br>54.0 m of 1.38% Cu<br>AZ22146:<br> • 330.0 m of 0.83% Cu<br>including<br>103.4 m of 1.31% Cu
---
MUX<br>AZ22149:<br> • 298.0 m of 0.55% Cu<br>including<br>54.0 m of 1.38% Cu<br>Recent Drill Results Highlights<br>AZ22142<br>AZ22146:<br> • 330.0 m of 0.83% Cu<br>including<br>103.4 m of 1.31% Cu<br>AZ22142:<br> • 419.0 m of 0.79% Cu<br>including<br>46.0 m of 1.59% Cu
---
MUX<br>AZ22149:<br> • 298.0 m of 0.55% Cu<br>including<br>54.0 m of 1.38% Cu<br>Recent Drill Results Highlights<br>AZ22146:<br> • 330.0 m of 0.83% Cu<br>including<br>103.4 m of 1.31% Cu<br>AZ22142:<br> • 419.0 m of 0.79% Cu<br>including<br>46.0 m of 1.59% Cu<br>AZ22158:<br> • 220m of 0.95% Cu<br>including<br>44m of 1.38% Cu<br>AZ22158
---
MUX<br>TITAN Geophysical Survey<br>Shows Further Exploration Targets<br> • TITAN 24 geophysical survey was<br>completed at Los Azules<br> • Drilling confirmed copper mineralization<br>coincident to shallower anomalies<br> • Deeper SW & NE anomalies flanking<br>Los Azules are attractive exploration<br>targets<br>Section 58400N<br>Section 60000N<br>Section 61200N<br>Pit outline
---
MUX<br>Section 58400N<br>0.31% Cu over 99 m @ end of<br>hole touching anomaly<br>Numerous holes passing through geophysical<br>anomalies with grades > 0.5% Cu<br>Resistivity<br>legend<br>(ohm-m)<br>for TITAN<br>Drillhole Legend<br>(Cu assay in %)<br>Low<br>High<br>Titan Geophysical Targets<br>South Section Looking North<br>0 500m
---
MUX<br>Section 60000N<br>Numerous holes passing through upper geophysical<br>anomalies with assay grades > 0.5% Cu<br>Drillhole Legend<br>(Cu assay in %)<br>Resistivity<br>legend<br>(ohm-m)<br>for TITAN<br>Low<br>High<br>Titan Geophysical Targets<br>North Section Looking South<br>0 500m
---
Los Azules: the Path Forward<br>Funds raised in the 1st and 2nd tranches of the private<br>placement now at $55 million.<br>McEwen Copper is adequately-funded to complete the<br>updated preliminary economic assessment (PEA) in<br>Q1 2023 to NI43-101 and SK1300 standards, the<br>upcoming drilling season from October 2022 to June<br>2023, and the planned IPO in H1 2023.<br>1st 2022 drilling<br>campaign completed<br>13,500 m of diamond<br>drilling.<br>45,500 m remaining to<br>include resource,<br>geotechnics,<br>hydrogeology &<br>hydrology in 2022-23.<br>Second Access<br>Road established,<br>giving the option for<br>year-round<br>operation.<br>Metallurgical<br>testwork initiated to<br>increase PEA<br>robustness & evaluate<br>the optionality of various<br>flow sheets aligned with<br>our Project Vision.<br>This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
---
MUX<br>2021 Operational & Financial Results<br>154,400 GEO actual production up 34% from 2020<br>$ 56.7 M consolidated net loss primarily related to:<br>$ 6.5 M gross loss of operations<br>$ 11.4 M G&A<br>$ 35.0 M advanced projects & exploration<br>$ 7.5 M attributable loss from in San José JV<br>$ (3.7 M) other<br>In full compliance with all debt covenants<br>Financial Results<br>Perry Ing<br>Chief Financial Officer
---
MUX<br>Q1 2022 Highlights<br>Gold Equivalent Production<br>Q1 25,100 oz1<br>Q2 36,905 oz<br>Cash Gross Loss<br>$2.3 M<br>Cash Cost<br>$1,696/oz2<br>Net Loss<br>$19.3 M vs $12.5 M Q1 2021<br>All-in Sustaining Costs<br>$2,146/oz2<br>Cash & Equivalents<br>$63.8 M vs $54.3 M Dec 31, 2021<br>1. Includes 10,700 GEO from 49% San Jose Mine 2. 100% McEwen operated mines costs
---
MUX<br>Strengthened Balance Sheet<br> – $15 M Flow-through financing for Fox Complex exploration (March 2022)<br> – $15 M unsecured debt financing provided by Rob McEwen to provide additional liquidity (April 2022)<br> – $15 M private placement in McEwen Copper subsidiary bringing a total raised to $55 M (June 2022)<br>Recovery Plan Underway to Address Mining Performance Issues<br> – Fox:<br> – San José: Q2 production significantly improved by nearly 50% vs Q1 2022<br> – Gold Bar:<br>2022 Operational and Financials<br>Q1 production affected adversely by labor shortages related to COVID-19 & equipment failures at Stock Mill.<br>Q2 production significantly improved by more than 50% vs Q1 2022<br>Challenging H1 start due to contractor staffing issues & preg-robbing carbon present in mineralized<br>material from Pick pit. Drilling underway to mitigate.
---
Closing Remarks<br>NYSE & TSX<br>Rob McEwen<br>Chairman & Chief Owner
---
Q&A<br>NYSE & TSX
---

Exhibit 99.2


McEwen Mining Announces AGM Voting Results andReverse Split


TORONTO,July 12, 2022 - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) ("MUX" or the "Company”) announces that it is proceeding with a 1-for-10 reverse split of the common shares of the Company ("the Reverse Split") with an effective date on or about July 26, 2022.  Notice has been provided to the New York Stock Exchange ("NYSE"), and MUX's common shares are expected to begin trading on the NYSE and the Toronto Stock Exchange ("TSX"), on a consolidated basis, on or about July 26, 2022.

At the MUX Annual Meeting of Shareholders, held on July 7^th^, 2022, the Company's shareholders approved the proposal to grant the Board of Directors the discretion to amend the articles of incorporation to effect a reverse split of the outstanding common stock on a ratio of not less than 1-for-5 and not more than 1-for-10. Additionally, the shareholders approved the proposal to amend the articles of incorporation to reduce the number of common stock authorized to be issued from 675 million shares to 200 million shares.

Following the Reverse Split, the number of outstanding common shares of the Company will be reduced from approximately 474 million outstanding common shares to approximately 47 million outstanding common shares. MUX's common shares will continue to trade on the NYSE and the TSX under the existing ticker symbols. Following the Reverse Split, the new CUSIP number for the Company's common shares will be 58039P305, and the new ISIN for the Company's common shares will be US58039P3055.

MUX's transfer agent, Computershare Investor Services ("Computershare"), will act as the exchange agent for the Reverse Split. On the effective date of the Reverse Split, Computershare will send instructions (a “Letter of Transmittal”) to shareholders who hold stock certificates regarding the exchange of old certificates for new certificates.  Shareholders who hold their shares in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares. No fractional common shares will be issued in connection with the Reverse Split; any fractional shares will be canceled.

Election of New Director

Mr. Ian Ball had been newly elected to the Company's Board of Directors. Ian has spent the majority of his professional career in the mining and natural resource sector. In executive roles he has been involved in companies focused on gold and silver exploration and development in North and South America as well as royalty businesses. He most recently served as the President and CEO of Abitibi Royalties, Inc., a Toronto-listed gold royalty company. He joined Abitibi in 2014 and served as an officer and director until 2021, when the company was acquired for $250 million. Prior to his tenure at Abitibi, Ian served as McEwen Mining's President.

AGM Voting Results

At the annual meeting of shareholders held on July 7^th^, 2022, MUX shareowners voted to:

· Elect as directors: Robert<br>McEwen, Allen Ambrose, Ian Ball, Richard Brissenden, Robin Dunbar, Dr. Donald Quick, Dr. Merri Sanchez, and William Shaver.
· Ratify the appointment<br>of Ernst & Young LLP as the Company's independent registered public accounting firm for the year ending December 31,<br>2022.
--- ---

McEwen Mining Inc. Page 1

· Approve the named executive<br>officer compensation (on an advisory basis), and set the frequency with which shareholders are entitled to vote on compensation at every<br>three years.
· Approve the proposal to<br>grant the Board of Directors the discretion to amend the articles of incorporation to effect a reverse split of the outstanding common<br>stock on a ratio of not less than 1-for-5 and not more than 1-for-10.
--- ---
· Approve the proposal to<br>amend the articles of incorporation to reduce the number of common stock authorized to be issued from 675 million shares to 200 million<br>shares.
--- ---

Detailed voting results are as follows.

For the election of directors:

For Withheld Percentage For Percentage Withheld
Robert R. McEwen 171,581,744 11,233,062 93.86% 6.14%
Allen V. Ambrose 168,694,429 14,120,377 92.28% 7.72%
Richard W. Brissenden 171,099,372 11,715,434 93.59% 6.41%
Robin E. Dunbar 170,595,019 12,219,787 93.32% 6.68%
Donald R.M. Quick 171,096,051 11,718,755 93.59% 6.41%
Merri Sanchez 171,188,034 11,626,772 93.64% 6.36%
William M. Shaver 171,399,520 11,415,286 93.76% 6.24%
Ian Ball 171,638,113 11,176,693 93.89% 6.11%

For the advisory vote on the approval of executive compensation:

For Against Abstain Percentage For Percentage Against Percentage Abstain
165,788,946 14,208,713 2,817,397 90.69% 7.77% 1.54%

For the approval of the frequency of holding advisory votes on compensation:

1 Year 2 Years 3 Years Abstain
77,524,138 2,726,549 100,143,283 2,421,086

For the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm:

For Against Abstain Percentage For Percentage Against Percentage Abstain
238,132,480 3,728,244 6,124,650 96.03% 1.50% 2.47%

For the proposal to grant the Board of Directors the discretion effect the Reverse Split:

For Against Abstain Percentage For Percentage Against Percentage Abstain
216,390,016 22,413,156 1,591,357 90.02% 9.32% 0.66%

For the proposal to reduce the number of authorized shares:

For Against Abstain Percentage For Percentage Against Percentage Abstain
217,682,278 21,362,046 1,350,205 90.55% 8.89% 0.56%


McEwen Mining Inc. Page 2


CAUTION CONCERNING FORWARD-LOOKINGSTATEMENTS

This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, effects of the COVID-19 pandemic, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K/A for the fiscal year ended December 31, 2021 and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have notreviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared bythe management of McEwen Mining Inc.

ABOUT MCEWEN MINING

McEwen Mining is a diversified gold and silver producer and explorer focused in the Americas with operating mines in Nevada, Canada, Mexico and Argentina. It also has a large exposure to copper through its subsidiary McEwen Copper, owner of the Los Azules copper deposit in Argentina.

CONTACT INFORMATION:
****<br><br> <br>Investor Relations:<br><br> <br>(866)-441-0690 Toll-Free<br><br> <br>(647)-258-0395<br><br> <br><br><br> <br>Mihaela Iancu ext. 320<br><br> <br><br><br> <br>info@mcewenmining.com <br><br> <br>Website: www.mcewenmining.com<br><br> <br><br><br> <br>Facebook: facebook.com/mcewenmining<br><br> <br>Facebook: facebook.com/mcewenrob<br><br> <br><br><br> <br>Twitter: twitter.com/mcewenmining<br><br> <br>Twitter: twitter.com/robmcewenmux<br><br> <br><br><br> <br>Instagram: instagram.com/mcewenmining 150 King Street West<br><br> <br>Suite 2800, P.O. Box 24<br><br> <br>Toronto, ON, Canada<br><br> <br>M5H 1J9

McEwen Mining Inc. Page 3