McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) has released its year-end 2025 mineral resource estimate for the Grey Fox Project, part of the Fox Complex in Timmins, Ontario. The updated estimate reports 1.9 million indicated gold ounces and 436,000 inferred gold ounces, calculated at a gold price of $3,000 per ounce. This represents a 23% increase in indicated resources compared to the year-end 2024 estimate, driven by ongoing exploration and the incorporation of both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for the second quarter of 2026.
The Grey Fox Project is a key component of McEwen's strategy to double production by 2030, as the Fox Complex transitions into a long-life mining operation. The updated resource estimate highlights potential for further growth through the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization. The company emphasized that Grey Fox is expected to play a critical role in achieving its production targets.
McEwen Mining, led by Chairman and Chief Owner Rob McEwen, focuses on gold and silver production in the Americas, with operations in Nevada, Ontario, and Argentina. The company also holds a 46.4% interest in McEwen Copper, which owns the Los Azules copper development project in Argentina. The Los Azules project is designed to be one of the world's first regenerative copper mines and aims for carbon neutrality by 2038, with its feasibility study results announced in October 2025.
The updated Grey Fox resource estimate underscores McEwen's commitment to expanding its gold reserves and advancing its mining operations. With the pre-feasibility study expected in Q2 2026, the company is positioned to further define the project's economic viability and long-term potential. The inclusion of the Stroud Property and recent drill results suggests additional upside, which could enhance the project's value and extend mine life.
For more details, the full press release is available at https://ibn.fm/Bc8Na. Additional information about McEwen Mining can be found at https://ibn.fm/MUX.
