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McEwen Mining delivers positive feasibility study for Fenix

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(Kitco News) - McEwen Mining (NYSE: MUX) (TSX: MUX) announced today the highlights of a positive feasibility study for its 100%-owned Fenix project, which is located in the State of Sinaloa, Mexico.

The base case scenario, which assumes $1,500/oz gold price and $17/oz silver price, delivers after-tax IRR of 28% and after tax NPV (8% discount) of $32 million.

Chairman and Chief Owner Rob McEwen commented, “The Fenix feasibility study envisions a 9.5-year mine life with an attractive after-tax IRR of 28% using $1,500/oz gold and $17/oz silver. At current gold and silver prices, the project’s after-tax IRR almost doubles and the NPV more than triples versus the base case.”

“The project will incorporate an environmentally progressive method of tailings management, using in-pit storage that creates multiple benefits, most importantly a secure containment of tailings enabling better reclamation results,” continued McEwen.

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 owns a large copper deposit in Argentina.

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