McEwen Mining Inc.

10:07 AM EST - McEwen Mining Inc. : Announced an updated Indicated Resource Estimate of 499,000 contained gold ounces and Probable Reserve Estimate of 302,000 recoverable gold ounces for the Gold Bar Mine in Nevada. Gold Bar’s estimated after-tax net present value (NPV) discounted at 8% and using a gold price of $1,500/oz is in the range of $62 to $76 million ; while the upside case at a gold price of $1,900/oz is in the range of $150 to $170 million . Potential mine life is in the range of five to seven years based on currently estimated reserves. McEwen Mining Inc. shares T.MUX are trading down $0.01 at $1.33.

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