New High-Grade Gold Discovery At El Gallo Complex

TORONTO - McEwen Mining Inc. reported new gold discovery, called Twin Domes, within its 100% owned El Gallo Complex, Sinaloa, Mexico. The high gold grades encountered are reminiscent of historical mining grades that occurred throughout the El Gallo Complex between 1800-1950, where approximately 180,000 ounces of gold at 20 gpt were mined.

Twin Domes is located approximately 14 kilometers (8.5 miles) west of El Gallo 1 and 2. Although there is minor evidence of small-scale mining, the majority of the discovery area is covered by agricultural land. Twin Domes was identified as a prospective target based on previous exploration that was completed by a predecessor company. High-grade gold mineralization has been identified from surface to a depth of 50 meters. The known length (or strike) of the high-grade is approximately 375 meters. Both core drilling and surface trenches were used to target the mineralization.

Currently 10 trenches are being completed over the length of the mineralization in order to gain a better understanding of 1) the nature of the high-grade, 2) the geology and 3) the orientation of the veins. This work, including final assays, is expected to be completed by the end of April. A core drill program is being planned in order to target the mineralization below 50 meters, which is the current limit of the known mineralization. In addition, McEwen Mining has completed an aeromagnetic survey over the discovery, which will be reassessed based on the new results.