McEwen Inc. (NYSE: MUX) (TSX: MUX) announced the completion of its acquisition of Golden Lake Exploration Inc. (CSE: GLM) (OTCQB: GOLXF) through a statutory plan of arrangement. Under the terms, Golden Lake shareholders received 0.003876 McEwen shares for each share held. The transaction adds Golden Lake’s Jewel Ridge projects in Nevada to McEwen’s Gold Bar Mine Complex, supporting the company’s strategy to expand exploration and extend mine life. Golden Lake shares are expected to be delisted, and the company will cease reporting obligations.
This acquisition is significant for McEwen as it strengthens its position in the prolific Cortez Trend of Nevada, a region known for rich gold deposits. By incorporating the Jewel Ridge projects, McEwen enhances its exploration pipeline, which is critical for sustaining and growing production at the Gold Bar Mine Complex. The move aligns with McEwen’s broader strategy of expanding its gold and silver production base while advancing its large copper development project in Argentina.
McEwen provides shareholders with exposure to a growing base of gold and silver production, along with a very large copper development project, all located in the Americas. The company’s gold and silver mines are in prolific mineral-rich regions, including the Cortez Trend in Nevada, the Timmins district of Ontario, Flin Flon in Manitoba, and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.
Additionally, McEwen holds 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. According to the last financing for McEwen Copper, the implied value of McEwen’s ownership interest is US$456 million (US$7.67 per share). 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 a 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. The company believes this technology 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.
The completion of this acquisition underscores McEwen’s commitment to growth through strategic consolidation in key mining districts. For investors, the addition of the Jewel Ridge projects could potentially extend the mine life at the Gold Bar Complex, enhancing long-term value. The broader implications for the mining industry include continued consolidation in Nevada’s Cortez Trend, which remains a hotspot for gold exploration and production.
More information about McEwen and its operations can be found on its website. The full press release regarding this acquisition is available at https://ibn.fm/ppkCD. Latest news and updates relating to MUX are available in the company’s newsroom at https://ibn.fm/MUX.
