McEwen Mining: San Jose Mine Update
TORONTO, ONTARIO, Feb 12, 2013 (Menafn - MARKETWIRE via COMTEX) --McEwen Mining Inc. MUX announces that operationsat its 49% owned San Jose mine in Santa Cruz Province, Argentina werehalted on Monday, February 4, 2013 due to seventy-six employeescontracting gastroenteritis. There have been no further casesreported and all employees have recovered in full. It is anticipatedthat the mine will resume operation shortly. This disruption is notexpected to have a material impact on McEwen Mining's full-yearproduction. The Company will provide a further update once operationsresume.
McEwen Mining's attributable production from San Jose mine during2012 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 500by 2015 by creating a high growth gold producer focused in theAmericas. McEwen Mining's principal assets consist of the San Josemine in Santa Cruz, Argentina (49% interest); the El Gallo complex inSinaloa, Mexico; the Gold Bar project in Nevada, US; the Los Azulesproject in San Juan, Argentina and a large portfolio of explorationproperties in Argentina, Mexico and Nevada.
McEwen Mining has 296,024,859 shares issued and outstanding. RobMcEwen, Chairman, President and Chief Owner, owns 25% of the sharesof the Company. As of December 31, 2012, McEwen Mining had cash andliquid assets of approximately US70 million and is debt free.
Reliability of Information
Minera Santa Cruz S.A., the owner of the San Jose mine, isresponsible for and has supplied to the Company all information onthe temporary halt of operations at the San Jose mine. This pressrelease is based on information provided to McEwen Mining by MineraSanta Cruz S.A. McEwen Mining's joint venture partner, a subsidiaryof Hochschild Mining plc, and its affiliates other than MSC do notaccept responsibility for the accuracy of this release. As theCompany is not the operator of the San Jose mine, there can be noassurance that the information reported to the Company by MSC isaccurate, the Company has not independently verified such informationand readers are therefore cautioned regarding the extent to whichthey should rely upon such information.
Caution Concerning Forward-Looking Statements
This press release contains certain forward-looking statements andinformation, including "forward- looking statements" within themeaning of the Private Securities Litigation Reform Act of 1995. Theforward-looking statements and information expressed, as at the dateof this press release, McEwen Mining Inc.'s (the "Company")estimates, forecasts, projections, expectations or beliefs as tofuture events and results. Forward-looking statements and informationare necessarily based upon a number of estimates and assumptionsthat, while considered reasonable by management, are inherentlysubject to significant business, economic and competitiveuncertainties, risks and contingencies, and there can be no assurancethat such statements and information will prove to be accurate.Therefore, actual results and future events could differ materiallyfrom those anticipated in such statements and information. Risks anduncertainties that could cause results or future events to differmaterially from current expectations expressed or implied by theforward-looking statements and information include, but are notlimited to, risks related to the cost of transferring or otherwiseallocating funds between operating jurisdictions, factors associatedwith fluctuations in the market price of precious metals, miningindustry risks, political, economic, social and security risksassociated with foreign operations, risks associated with theconstruction of mining operations and commencement of production andthe projected costs thereof, risks related to litigation, propertytitle, the state of the capital markets, environmental risks andhazards, uncertainty as to calculation of mineral resources andreserves and other risks. Readers should not place undue reliance onforward-looking statements or information included herein, whichspeak only as of the date hereof. The Company undertakes noobligation to reissue or update forward-looking statements orinformation as a result of new information or events after the datehereof except as may be required by law. See McEwen Mining's AnnualReport on Form 10-K for the fiscal year ended December 31, 2011 andother filings with the Securities and Exchange Commission, under thecaption "Risk Factors", for additional information on risks,uncertainties and other factors relating to the forward-lookingstatements and information regarding the Company. All forward-lookingstatements and information made in this news release are qualified bythis cautionary statement.
The NYSE and TSX have not reviewed and do not accept responsibilityfor 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
SOURCE: McEwen Mining Inc.
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