McEwen secures El Gallo permit; construction mid-2026, first gold mid-2027

McEwen Inc.

Mexican government granted extension of Environmental Impact Assessment for El Gallo Mine.
Phase 1 mill construction targeted to start mid-2026; first gold pour expected mid-2027.
Phase 1 expected to produce ~20,000 GEOs annually; remaining capital costs $25M.
Ball mill already purchased and onsite; Phase 2 to target in-situ silver deposits.
Historical silver resources: 53.1M oz M&I and 31M oz inferred (not current); update planned for 2026.

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