McEwen Inc. (NYSE: MUX) (TSX: MUX) announced the completion of its acquisition of Golden Lake Exploration Inc. (CSE: GLM) (OTCQB: GOLXF) through a statutory plan of arrangement, a move that consolidates key gold assets in Nevada and supports the company's long-term growth strategy. Under the terms of the deal, Golden Lake shareholders received 0.003876 McEwen shares for each share held, and Golden Lake shares are expected to be delisted, with the company ceasing its reporting obligations.
The acquisition adds Golden Lake's Jewel Ridge projects to McEwen's Gold Bar Mine Complex, located along the prolific Cortez Trend in Nevada. This strategic addition is expected to expand exploration opportunities and extend the mine life of the complex, which is a cornerstone of McEwen's gold production. The transaction underscores McEwen's commitment to strengthening its asset base in one of the world's most mineral-rich regions.
McEwen provides shareholders with exposure to a growing portfolio of gold and silver production, alongside a significant copper development project. The company's operations span the Americas, including mines in Nevada, Ontario, Manitoba, and Argentina. Additionally, McEwen is reactivating its gold-silver El Gallo Mine in Mexico, further diversifying its production pipeline.
A key component of McEwen's long-term value is its 46.3% interest in McEwen Copper, which owns the advanced-stage Los Azules copper project in San Juan province, Argentina. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million (US$7.67 per share). The Los Azules project is designed to be one of the world's first regenerative copper mines and aims to achieve carbon neutrality by 2038. Feasibility study results were announced in an October 7, 2025 press release.
McEwen also recently purchased a 27.3% stake in Paragon Advanced Labs Inc., a company deploying PhotonAssay units globally—a technology poised to become the new industry standard for assaying precious and base metals. This investment reflects McEwen's focus on innovation and efficiency in mining operations.
Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. A recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame, McEwen aims to build MUX's profitability, share value, and ultimately implement a dividend policy, as he did while building Goldcorp Inc.
The completion of this acquisition is a pivotal step for McEwen as it seeks to enhance its exploration capabilities and extend the life of its Nevada operations. For investors, the addition of the Jewel Ridge projects could translate into increased resource estimates and production potential, reinforcing McEwen's position in the gold mining sector. The transaction also highlights the company's strategy of consolidating high-quality assets in established mining districts.
For more information on McEwen, visit the company's newsroom at https://ibn.fm/MUX.
