McEwen Mining Inc. is pleased to announce an updated resource estimate for the El Gallo Complex in Sinaloa State, Mexico, where Phase 1 production is scheduled to begin during the Third Quarter. New drilling by McEwen Mining from November 2010 to April 2012 (approximately 100,000 meters) has increased the level of confidence associated with the mineralization and increased the size of the resource. This update reports both global and in-pit resources. The updated resource estimates were generated using a silver and gold price of US$28.50 and US$1,500 per ounce, respectively.