McEwen Mining: San Jose Mine Update

Tue Feb 12, 2013 2:28pm EST

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Marketwire

McEwen Mining Inc.

February 12, 2013 - 02:28:03 PM

McEwen Mining: San Jose Mine Update

TORONTO, ONTARIO--(Marketwire - Feb. 12, 2013) - 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
information. 

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. 

FOR FURTHER INFORMATION PLEASE CONTACT: 
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
info@mcewenmining.com


Facebook: www.facebook.com/McEwenRob
Twitter: www.twitter.com/McEwenMining
www.mcewenmining.com




        

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.
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