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Toronto, April 7, 2014 AEST (ABN Newswire) - At December 31, 2013, McEwen Mining (TSE:MUX) (NYSE:MUX) had cash and liquid assets of $25.6 million, comprised of cash totaling $24.3 million and gold and silver of $1.3 million. The Company remains debt free. In addition, McEwen Mining is owed $11.6 million from the Mexican government in the form of a tax refund. The Company believed the refund would have been received by year-end. Due to delays by the Mexican government, the Company now expects to receive all or part of the refund in Q2. Subsequent to year-end McEwen Mining received $4.0 million in dividends from the San José mine with the majority having been repatriated back to the Company's head office in Canada.

Major expenditures in Q4 included $0.7 million for the El Gallo 1 mine expansion, $2.8 million in exploration costs, $0.5 million in annual land payments and $3.1 million in general and administrative expenses.

President Ian Ball provides a video of the company performance, to view, please visit:
http://www.abnnewswire.net/press/en/76880/mcewen


About McEwen Mining Inc

McEwen Mining NYSE:MUX

McEwen Mining (NYSE:MUX) (TSE:MUX) goal is to qualify for inclusion in the S&P 500 Index by creating a high growth, profitable gold and silver producer focused in the Americas and Europe. McEwen Mining's principal assets consist of the San Jose 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 a total of 299 million shares outstanding and 305 million fully diluted. Rob McEwen, Chairman and Chief Owner, owns 25% of the Company.

    


Contact

McEwen Mining
T: +1-647-258-0395
F: +1-647-258-0408
E: info@mcewenmining.com
WWW: www.mcewenmining.com


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