McEwen Inc. has reported its year-end 2025 mineral resource estimate for the Grey Fox Project within the Fox Complex in Timmins, Ontario, showing 1.9 million indicated gold ounces and 436,000 inferred gold ounces. The estimate, calculated at a $3,000 per ounce gold price, reflects a 23% increase in indicated resources compared with year-end 2024. This updated resource incorporates both underground and open-pit mining scenarios ahead of a pre-feasibility study scheduled for the second quarter of 2026.
The company highlighted potential for further resource growth through several factors, including the recently acquired Stroud Property, new drill results received after the resource cutoff date, and ongoing mine and plant optimization efforts. McEwen stated that Grey Fox is expected to play a key role in its objective of doubling production by 2030 as the Fox Complex transitions into a long-life mining operation. The company's broader portfolio includes exposure to growing gold and silver production across the Americas, with operations in Nevada's Cortez Trend, Ontario's Timmins district, and Argentina's Deseado Massif.
McEwen also maintains a 46.4% interest in McEwen Copper, which owns the advanced-stage Los Azules copper development project in Argentina's San Juan province. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is $456 million. The Los Azules project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038, with feasibility study results announced in a press release dated October 7, 2025.
Chairman and Chief Owner Rob McEwen has invested over $200 million personally in the company and takes a salary of $1 per year, aligning his interests with shareholders. His objective is to build the company's profitability, share value, and eventually implement a dividend policy, as he did while building Goldcorp Inc. The latest news and updates relating to McEwen are available in the company's newsroom.
The resource increase at Grey Fox comes as the mining industry faces increasing pressure to demonstrate both economic viability and environmental responsibility. McEwen's approach combines traditional resource development with innovative environmental goals, particularly through its Los Azules copper project's regenerative mining design. This dual focus on resource growth and sustainability reflects broader industry trends toward responsible resource extraction while meeting growing global demand for precious and base metals.
