McEwen Mining: San Jose Mine Update
TORONTO, ONTARIO -- (Marketwire) -- 02/12/13 -- McEwen Mining Inc.
(NYSE:MUX)(TSX:MUX) announces that operations at its 49% owned San
Jose mine in Santa Cruz Province, Argentina were halted on Monday,
February 4, 2013 due to seventy-six employees contracting
gastroenteritis. There have been no further cases reported and all
employees have recovered in full. It is anticipated that the mine
will resume operation shortly. This disruption is not expected to
have a material impact on McEwen Mining's full-year production. The
Company will provide a further update once operations resume.
McEwen Mining's attributable production from San Jose mine during
2012 totaled 98,117 eq. oz (42,026 gold oz and 2,916,742 silver oz).
About McEwen Mining (www.mcewenmining.com)
The goal of McEwen Mining is to qualify for inclusion in the S&P 500
by 2015 by creating a high growth 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
project in San Juan, Argentina and a large portfolio of exploration
properties in Argentina, Mexico and Nevada.
McEwen Mining has 296,024,859 shares issued and outstanding. Rob
McEwen, Chairman, President and Chief Owner, owns 25% of the shares
of the Company. As of December 31, 2012, McEwen Mining had cash and
liquid assets of approximately US$70 million and is debt free.
Reliability of Information
Minera Santa Cruz S.A., the owner of the San Jose mine, is
responsible for and has supplied to the Company all information on
the temporary halt of operations at the San Jose mine. This press
release is based on information provided to McEwen Mining by Minera
Santa Cruz S.A. McEwen Mining's joint venture partner, a subsidiary
of Hochschild Mining plc, and its affiliates other than MSC do not
accept responsibility for the accuracy of this release. As the
Company is not the operator of the San Jose mine, there can be no
assurance that the information reported to the Company by MSC is
accurate, the Company has not independently verified such information
and readers are therefore cautioned regarding the extent to which
they should rely upon such informati
Caution Concerning Forward-Looking Statements
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 the cost of transferring or otherwise
allocating funds between operating jurisdictions, 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 associated 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.
(647) 258-0395 ext 410 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)
McEwen Mining Inc.
181 Bay Street Suite 4750
Toronto, ON M5J 2T3
PO box 792
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