McEwen Mining Inc.: Los Azules Lawsuit Settled

McEwen Mining Inc.: Los Azules Lawsuit Settled 
Exploration Moving Ahead Quickly 
TORONTO, ONTARIO -- (Marketwire) -- 11/12/12 -- McEwen Mining Inc.
(NYSE:MUX)(TSX:MUX) is very pleased to announce that TNR Gold Corp.
("TNR") and McEwen Mining have resolved their differences and settled
all outstanding litigation with respect to the Los Azules Copper
project located in San Juan Province, Argentina ("Los Azules"). 
The settlement of this litigation is beneficial in that it provides
certainty on the ownership of Los Azules. This allows McEwen Mining
to explore areas of the property that were previously contested; as
well, evaluate strategic alternatives with respect to the project as
a whole. 
"This is a very positive development for McEwen Mining, TNR Gold and
the Province of San Juan, Argentina. It allows us to accelerate and
expand the magnitude of our exploration effort. With this legal
obstacle behind us, we are now embarking on the largest drill program
in the project's history. We are excited by the potential of growing
the size of this world-class copper asset", said Rob McEwen, Chief
The highlights of the settlement: 
1. All Litigation has been settled.  
2. McEwen Mining has clear title to the Escorpio IV claim.  
3. TNR retains a Back-In Right.  
4. TNR receives 1,000,000 shares of McEwen Mining. 
Details of the Settlement: 
1. Litigation Over: 
All of the claims and counterclaims brought by TNR and McEwen Mining
will either be discontinued or resolved by way of a consent dismissal
2. McEwen Mining owns 100% of the Escorpio IV Claim: 
TNR will transfer the contested Escorpio IV claim (a mineral claim
situated to the west of the deposit) to McEwen Mining. While no
mineralization has been found on this property it is best suited for
locating all processing and administrative facilities of any future
mine development. 
3. TNR's Back-In Right: 
TNR will retain their Back-in Right for up to 25% of the equity in
certain claims comprising the northern portions of Los Azules. These
northern claims currently represent approximately 62% of the known
resource at Los Azules. This 25% interest, when taken in the context
of the whole property, would be currently equivalent to approximately
a 15% interest of the total estimated resources at
 Los Azules
(Canadian NI 43-101). This interest could increase or decrease
depending on the location and size of future exploration results. The
Back-in Right is exercisable after the completion of a bankable
feasibility study. To exercise TNR must pay two (2) times the
expenses attributable to the back-in percentage (ie. paying 2 x 25%
all of the costs attributable to the claims comprising the northern
portion of the property). Upon backing-in, TNR may elect to continue
to participate in the project or be diluted down to a 0.6% NSR on the
same claims comprising the northern portion of the project. 
4. TNR to receive 1,000,000 shares of McEwen Mining 
As noted in our November 7th news release, drilling began at Los
Azules on October 12th. Los Azules is one of the world's largest and
highest grade undeveloped copper porphyry deposits. A total of seven
drills are operating at the property. The drills are considerably
more powerful than the ones used during past field seasons. The
Company believes this will increase the likelihood of reaching target
depths (+700 meters), where high-grade copper mineralization has been
discovered. Initial drill assay results are expected to be released
early in 2013. The Company plans to drill approximately 15,000 meters
this season. 
The goal of McEwen Mining is to qualify for inclusion in the S&P 500
by 2015 by creating a high quality, high growth, low-cost, mid-tier
gold producer focused in the Americas. McEwen Mining's principal
assets consist of the San Jose mine in Santa Cruz, Argentina (49%
interest); the El Gallo complex in Sinaloa, Mexico; the Gold Bar
project in Nevada, US; the Los Azules Copper project in San Juan,
Argentina and a large portfolio of exploration properties in
Argentina, Nevada and Mexico. 
McEwen Mining has 268,495,751 shares issued and outstanding
(comprised of 190,516,797 Common Shares and 77,987,621 Exchangeable
Shares). Rob McEwen, Chairman and Chief Owner, owns approximately 25%
of the shares of McEwen Mining (assuming all outstanding Exchangeable
Shares are exchanged for an equivalent amount of Common Shares). As
of September 30, 2012, McEwen Mining had cash and liquid assets of
$20.6 million. 
For additional information about the Los Azules project see the
technical Report titled "Los Azules Porphyry Copper Project, San Juan
Province, Argentina" dated August 1, 2012, with an effective date of
June 15, 2012, prepared by D. Ernest Winkler, PE, Robert Sim, PGeo,
Bruce Davis, PHD, FAUSIMM and James K. Duff, PGeo, all of whom are
qualified persons and all of whom but James K. Duff are independent
of McEwen Mining, each as defined by NI 43-101. The foregoing report
is available under the Corporation's profile on SEDAR
McEwen Mining prepares its resource estimates in accordance with
standards of the Canadian Institute of Mining, Metallurgy and
Petroleum referred to in Canadian National Instrument 43-101 (NI
43-101). These standards are different from the standards generally
permitted in reports filed with the SEC. Under NI 43-101, McEwen
Mining reports measured, indicated and inferred resources,
measurements which are generally not permitted in filings made with
the SEC. The estimation of measured resources and indicated resources
involve greater uncertainty as to their existence and economic
feasibility than the estimation of proven and probable reserves. U.S.
investors are cautioned not to assume that any part of measured or
indicated resources will ever be converted into economically mineable
reserves. The estimation of inferred resources involves far greater
uncertainty as to their existence and economic viability than the
estimation of other categories of resources. 
This press release contains certain forward-looking statements and
information, including "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. The
forward-looking statements and information expressed, as at the date
of this press release, McEwen Mining Inc.'s (the "Company")
estimates, forecasts, projections, expectations or beliefs as to
future events and results. Forward-looking statements and information
are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management, are inherently
subject to significant business, economic and competitive
uncertainties, risks and contingencies, and there can be no assurance
that such statements and information will prove to be accurate.
Therefore, actual results and future events could differ materially
from those anticipated in such statements and information. Risks and
uncertainties that could cause results or future events to differ
materially from current expectations expressed or implied by the
forward-looking statements and information include, but are not
limited to, risks related to business integration as a result of the
business combination between the Company and Minera Andes, factors
associated with fluctuations in the market price of precious metals,
mining industry risks, political, economic, social and security risks
associated with foreign operations, risks ass
ociated with the
construction of mining operations and commencement of production and
the projected costs thereof, risks related to litigation, property
title, the state of the capital markets, environmental risks and
hazards, uncertainty as to calculation of mineral resources and
reserves and other risks. Readers should not place undue reliance on
forward-looking statements or information included herein, which
speak only as of the date hereof. The Company undertakes no
obligation to reissue or update forward-looking statements or
information as a result of new information or events after the date
hereof except as may be required by law. See McEwen Mining's Annual
Report on Form 10-K for the fiscal year ended December 31, 2011 and
other filings with the Securities and Exchange Commission, under the
caption "Risk Factors", for additional information on risks,
uncertainties and other factors relating to the forward-looking
statements and information regarding the Company. All forward-looking
statements and information made in this news release are qualified by
this cautionary statement. 
The NYSE and TSX have not reviewed and do not accept responsibility
for the adequacy or accuracy of the contents of this news release,
which has been prepared by management of McEwen Mining Inc. 
McEwen Mining Inc.
Jenya Meshcheryakova
Investor Relations
(647) 258-0395 ext 410 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX) 
McEwen Mining Inc.
Mailing Address
181 Bay Street Suite 4750
Toronto, ON M5J 2T3, PO box 792 
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