|Short Tons||Grade (opt)||Tonnes||Grade (gpt)||Gold Ounces|
Historical Drill ResultsExploration drilling at Afgan-Kobeh began in 1981, but most of the drilling has occurred since 1990. Data is available for over 200 exploration drill holes, mostly reverse circulation (RC) with some limited core, rotary and air-track also recorded. The table below is a compilation of the best holes in the Afgan deposit (an asterisk denotes holes that are located on Fig. 2). These historical results are provided for informational purposes only, and have not been verified by McEwen Mining.
|Hole ID||Company||Year||From (m)||To (m)||Interval (m)||Grade (gpt)||From (ft)||To (ft)||Interval (ft)||Grade (opt)|
|ANC-1||Great Basin Expl.||1993||59.6||115.1||55.5||1.06||195.5||377.6||182.1||0.031|
|ANC-2||Great Basin Expl.||1993||63.4||98.6||35.2||2.11||207.9||323.4||115.5||0.062|
|ANC93-10*||Great Basin Expl.||1993||142.4||155.3||12.9||1.98||467.1||509.5||42.4||0.058|
|ANR-9*||Great Basin Expl.||1993||236.4||249.7||13.3||4.08||775.5||819.2||43.7||0.119|
Corporate UpdateMcEwen Mining is pleased to provide an update on our financial position. On February 19 th, 2016 we had cash and precious metals of $36.5 million and no debt. Please see following link for Figures 1-3: http://www.mcewenmining.com/files/doc_news/20160223_afgan/20160224_afgan_figures1-3.pdf ABOUT MCEWEN MINING ( www.mcewenmining.com ) McEwen Mining has an ambitious goal of qualifying for inclusion in the S&P 500 Index by creating a high growth, profitable gold and silver producer focused in the Americas. McEwen Mining's principal assets consist of the San José Mine in Santa Cruz, Argentina (49% interest), the El Gallo Mine and El Gallo Silver project in Sinaloa, Mexico, the Gold Bar project in Nevada, USA, and the Los Azules copper project in San Juan, Argentina. McEwen Mining has total of 298 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 25% of the Company. TECHNICAL INFORMATION The technical contents of this news release have been reviewed and approved by Robert L. Kastelic, CPG, McEwen Mining's Senior Consulting Geologist, who is a Qualified Person as defined by Canadian Securities Administrators' National Instrument 43-101 "Standards of Disclosure for Mineral Projects". CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This news 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 news 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, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the corporation to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, the risk of delisting from a public exchange and other risks. The Company's dividend policy will be reviewed periodically by the Board of Directors and is subject to change based on certain factors such as the capital needs of the Company and its future operating results. 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, 2014 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.
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