McEwen Inc. Acquires Strategic Stake in Paragon Geochemical to Accelerate PhotonAssay Technology Adoption

McEwen Inc. has entered into agreements to acquire an approximately 31% equity interest in Britannia Mining Solutions Inc., operating as Paragon Geochemical Laboratories Inc., a leading provider of advanced analytical services for the mining sector. The transaction, valued at CDN$15.3 million, will be completed through the purchase of 648,002 Paragon shares from Britannia Life Sciences Inc. and 226,286 shares via a private placement, both at CDN$17.50 per share and payable in McEwen stock.

Paragon Geochemical Laboratories is recognized for its use of PhotonAssay technology, a rapid, accurate, and non-destructive method for assaying precious and base metals that offers significant advantages over traditional fire assays. This technology represents a substantial advancement in mineral analysis, providing faster results with improved accuracy while eliminating the environmental concerns associated with traditional chemical processes. McEwen currently employs PhotonAssay in its exploration programs at the Fox Complex in Ontario and the Gold Bar Mine Complex in Nevada, demonstrating the company's existing commitment to this innovative technology.

The strategic investment positions McEwen to influence the broader adoption of PhotonAssay technology across the mining industry. As mining companies face increasing pressure to improve operational efficiency and reduce environmental impact, technologies like PhotonAssay offer compelling advantages. The non-destructive nature of the process preserves sample integrity while delivering results in hours rather than days, potentially accelerating exploration timelines and decision-making processes throughout the mining sector.

For the global mining industry, this partnership signals a shift toward more sophisticated analytical technologies that can enhance resource estimation accuracy and operational efficiency. The adoption of advanced assaying methods could lead to more precise resource modeling, reduced exploration costs, and improved environmental performance across mining operations worldwide. Investors and industry stakeholders can find additional information about McEwen's developments through the company's newsroom at https://ibn.fm/MUX.

The mining sector's transition toward more efficient and environmentally responsible technologies aligns with broader industry trends emphasizing sustainability and operational excellence. PhotonAssay technology eliminates the use of hazardous chemicals required in traditional fire assays, addressing both safety concerns and environmental considerations. As mining companies increasingly prioritize ESG (Environmental, Social, and Governance) factors, technologies that offer both operational advantages and environmental benefits are likely to gain wider acceptance.

This strategic investment represents a significant step in the commercialization and scaling of PhotonAssay technology, potentially establishing it as a new industry standard for mineral analysis. The partnership between an established mining company like McEwen and an innovative technology provider like Paragon could accelerate the technology's adoption across the industry, benefiting mining companies, investors, and communities through improved efficiency and reduced environmental impact.