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McEwen Mining provides update on Los Azules project

McEwen Mining announced new metallurgical studies that confirmed preliminary work and tested alternative process methods at its 100% owned Los Azules Copper Project in San Juan Province, Argentina. The work was performed by Plenge Metallurgical Laboratory in Lima, Peru and supervised by Samuel Engineering of Denver, Colorado. The tests produced positive results in the three areas all of which should improve the economic returns associated with the project by reducing operating and capital costs, increasing the amount of material available for processing, and reducing export taxes. Test results confirm that a significantly coarser grind size of 175 micrometres can be used on Los Azules mineralized material versus the 125 micrometres used in past testing. This will reduce milling costs and should not negatively impact copper recoveries which have been estimated at approximately 93%. McEwen Mining has begun work on an updated PEA which is expected to be completed in the third quarter of this year. The updated PEA will be based on a significantly larger mineral resource and will evaluate the possibility of increasing the daily throughput. The updated PEA will also incorporate the results of these metallurgical studies.