McEwen Copper appoints Societe Generale for Los Azules debt financing

TORONTO, May 14, 2026 (GLOBE NEWSWIRE) -- McEwen Copper Inc. (" McEwen Copper " or the " Company ") today announced that it has retained Societe Generale, to act as its sole financial advisor in connection with project debt financing of the Company's Los Azules copper project located in San Juan Province, Argentina (the " Project "). Under the mandate, Societe Generale will lead the structuring and arrangement of a senior debt package to fund the construction of the Project. Societe Generale's scope of work spans both preparatory and implementation phases and includes development of the financing strategy; coordination of lenders' technical, market, environmental and social, insurance, audit and tax due diligence; preparation of the lenders' information package; and assistance with the negotiation.

The financing is expected to be assembled from a combination of export credit agency, commercial bank debt, multilateral and development finance institution facilities, and potential project bond or other capital markets instruments. The appointment complements the Company's continuing relationship with the International Finance Corporation (IFC), a member of the World Bank Group, with whom the Company has a collaboration agreement to align the Project with IFC’s environmental, social, and governance standards in anticipation of international project financing. The Project will be developed in alignment with the Equator Principles.

" Bringing Societe Generale on board marks a significant step in advancing Los Azules toward construction, " said Michael Meding, Managing Director of McEwen Copper. "Societe Generale's global project finance platform and long-standing relationships with the export credit agency, multilateral and commercial banking community make them an ideal partner to help us assemble a robust, competitively priced debt package for one of the world's largest undeveloped copper projects." About McEwen Copper McEwen Copper Inc. is a copper development company whose principal asset is the Los Azules project in San Juan Province, Argentina – an advanced-stage project counted among the largest undeveloped copper resources globally. McEwen Copper is 46.3%-owned by McEwen Inc. (NYSE: MUX) (TSX: MUX).

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, are as at the date of this news release, and are McEwen Inc.'s ("McEwen") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate.

Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of McEwen to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof.

McEwen undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding McEwen. All forward-looking statements and information made in this news release are qualified by this cautionary statement.

The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Inc. ABOUT MCEWEN McEwen shares trade on both the NYSE and TSX under the ticker MUX . McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world: the Cortez Trend in Nevada, USA, the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado Massif in Santa Cruz Province, Argentina.

McEwen is also reactivating its gold and silver El Gallo Mine in Mexico. The Company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina – a region that hosts some of the country’s largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million .

The Los Azules copper project is designed to be one of the world’s first regenerative copper mines and carbon neutral by 2038 . Its Feasibility Study results were announced in the press release dated October 7, 2025 . McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc. , a newly listed public company that is deploying PhotonAssay™ units around the world, a technology that McEwen believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.

Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year , aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX’s profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc. Want News Fast?

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