McEwen Mining El Gallo 1 Mine Expansion Nears Completion

TORONTO, ONTARIO--(Marketwired - Feb. 20, 2014) - McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) is pleased to announce that the expansion of the El Gallo 1 mine in Sinaloa State, Mexico is scheduled to be completed by early April. The expansion is approximately three months ahead of schedule and capital costs are expected to total US$3 million versus the US$5 million originally budgeted. Production is anticipated to grow from 37,500 oz. gold this year to 75,000 oz. gold in 2015. Cash costs are also expected to decrease from US$750 per oz. to US$575 per oz. starting next year.

Commissioning is expected to commence during Q2, with the expansion fully operational during the second half of the year. El Gallo 1 is being expanded from 3,000 tonnes per day (tpd) to 4,500 tpd. In addition to the expansion, gold grades are expected to increase starting in 2015 from approximately 1.1 gpt to 2.0 gpt.

"Our team in Mexico, along with the company's main contractor, SAR Servicios Tecnicos, has done a good job expanding the El Gallo 1 mine. Our skill set within Mexico continues to grow and this is an important learning experience should the company proceed with the construction of El Gallo 2. With the expansion and higher gold grades, we expect the mine to generate US$30 million in annual free cash flow before taxes starting next year (at a $1,300 gold price)", stated Rob McEwen, Chairman and Chief Owner.

About McEwen Mining (www.mcewenmining.com)

The goal of McEwen Mining is to qualify for inclusion in the S&P 500 by creating a high growth gold 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 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 297,159,359 shares issued and outstanding at February 20, 2014, which consists of both common and exchangeable shares. Each exchangeable share is convertible into a common share on a one-for-one basis and holds the same rights as each common share. Rob McEwen, Chairman, and Chief Owner, owns 25% of the shares of the Company.

TECHNICAL INFORMATION:

This news release has been reviewed and approved by William Faust, PE, McEwen Mining's Chief Operating Officer, who is a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). For additional information about the El Gallo complex see the technical report titled "Resource Estimate for the El Gallo Complex, Sinaloa State, Mexico" dated August 30, 2013 with an effective date of June 30, 2013, prepared by John Read, C.P.G., and Luke Willis, P. Geo. Mr. Read and Mr. Willis are not considered independent of the Company as defined by NI 43-101.