Day: April 9, 2019

“ I am very pleased to say that after a tough start to the year at our Black Fox and Gold Bar mines, we have delivered a strong close to the first quarter. In March, gold production improved significantly at Black Fox, allowing us to achieve 93% of our budgeted production for the quarter. The issues that pushed the start-up of commercial production at Gold Bar from Q1 into Q2 have largely been resolved. The San Jos é and El Gallo mines are performing well and are on-track to deliver over 50% of our planned 2019 production of 205,000 gold equivalent ounces . I’m excited about starting our exploration drilling programs in Timmins and Nevada, which will generate results for the rest of the year,” said Rob McEwen, Chairman and Chief Owner.

“We have begun the important task of integrating our newest mine, the Tucano Gold Mine, into our portfolio of precious metals mines and projects”, stated James Bannantine, President & CEO. “Given the timing of the Beadell acquisition, our consolidated results for Q1 only reflect Tucano operating results for the last three weeks of the first quarter. Despite this, consolidated gold equivalent metal production increased by 25% compared to the last quarter of 2018. We are focused on completing the commissioning of the supplemental oxygen supply at Tucano before the end of this month, which is designed to enable the processing of higher-grade ore and increase gold recoveries. In addition to production, the Tucano Gold Mine immediately adds significant gold reserves and resources and, together with our Mexican operations, has transformed the Company into a new intermediate precious metals producer focused on Latin America.”