SAMPLE SLIDES McEwen Mining

1. MARCH 3, 2015
1
CONTAC: Sheena Scotland,Director, Investor Relations 1.866.441.0690 x410 • info@mcewenmining.com • facebook.com/mcewenrob • twitter.com/mcewenmining

2. CEO owns
no change of
control payments.
Qualify
for S&P 500.
Takes no salary,
no cash bonus &
cost
base
GOAL
$126M
2

3. % to High (January 2010 to Present)
If You Believe in Believe in
3
669%
561%
406% 353% 302%
209% 198% 167% 139%
51% 12%
McEwen
GDXJ
Yamana
Barrick
Detour
GDX
Newmont
AgnicoEagle
GoldCorp.
Gold
Franco-Nevada
Source: Bloomberg. % to High (January 2010 to present). As of March 2, 2015.

4. Market Cap
305.2 M
Fully Diluted
300.1 M
Shares
Outstanding
Options
Price
52 Week
LOW $0.90
$1.09/share
HIGH $3.74
4
739%
572%
391%336%332%
221%187%172%163%
57% 16%
McEwen
GDXJ
Yamana
Barrick
Detour
GDX
Newmont
AgnicoEagle
GoldCorp.
Gold
Franco-Nevada
Significant Upside Potential
Production estimates based on internal estimates. Assumes El Gallo 2 commences production in 2017 and Gold Bar in 2018.
Calculated on a 75:1 silver/gold ratio. Notes 1, 2, 3, 5, 8, 13 & 15.

5. MUX PROJECTED ANNUAL PRODUCTION & COST
2014 2015 2016 2017 2018
84k oz
3 Moz
96k oz
3 Moz
94k oz
3 Moz
81k oz
110k oz
9 Moz
10 Moz
SAN JOSÉ EL GALLO 1
Start Build: 2nd Half 2015
Operating: 2017
EL GALLO 2 GOLD BAR
Start Build: 2nd Half 2016
Operating: 2018
5
Production estimates based on internal estimates. Assumes El Gallo 2 commences production in 2017 and Gold Bar in 2018.
Calculated on a 75:1 silver/gold ratio. Notes 1, 2, 3, 5, 8, 13 & 15.
2014-2018 Production Growth
MUX: 83% • Industry Avg: 21%
Assumption

6. CASH FLOW AT VARIOUS GOLD PRICES
6
US$20 Million
(no debt)
Cash
and
$0
$20
$40
$60
$80
$100
$1,200 $1,300 $1,400 $2,000 $1,200 $1,300 $1,400 $2,000 $1,200 $1,300 $1,400 $2,000
Cash flow
(US$ M)
El Gallo 1 Mine San José Mine
65%
35%
Revenue Mix
Avg Daily Value
Traded (12 months)
$6.9M 2014 2015E
Gold
Silver
Production and cost estimates based on internal estimates. El Gallo 1 cash flows are all-in sustaining cash flows; San Jose cash flows are
estimates of dividends to be paid to McEwen Mining. Silver converted to gold at 75:1. Notes 1, 2, 3, 5, 8, 13 & 15.
70%
30%

7. CRITERIA FOR OUR FUTURE MINES
7

8. EL GALLO 1 MINE :
SMALL INVESTMENT, BIG RETURN
Production and cost estimates based on internal estimates. See cautionary note regarding non-GAAP measures. Notes 1, 2, 7, 13 & 15.
El Gallo 2
El Gallo 1
Mine
McEwen Mining
(100% Owned)
Exploration
Targets
Ready to Build
N
0 5 10
km
Sinaloa
State
Mexico
8
2014 Production
1.4 gpt
38,224 oz Au
$1,250/oz AISC
2015E Production
2.6 gpt
50,000 oz Au
$750/oz AISC

9. $0
$400
$800
$1,200
$1,600
$2,000
0
4,000
8,000
12,000
16,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015
AISC /
Au oz
Gold Oz
Produced
Production and cost estimates based on internal estimates. See cautionary note regarding non-GAAP measures. Notes 1, 2, 7, 13 & 15.
Gold Oz Produced AISC
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015
Gold
grade
(g/t)
EL GALLO 1 MINE
9

10. El Gallo 1
El Gallo 2
Based on internal estimates. Silver equivalent basis, 75:1 silver/gold ratio. See cautionary note regarding non-GAAP measures.
Sinaloa
State
Mexico
EL GALLO 2: SILVER – RIGHT NEXT DOOR
McEwen Mining
(100% Owned)
Open Pit
Permitted Construction
& Operation
5 km
Road
10
• 101 gpt Ag Grade
• Annual Production
5.5 M oz Ag +
6,300 oz Au
• 7 Years Mine Life
Permitted
& Ready
to Build

11. EL GALLO 2: LOWERING CAPEX & INCREASING IRR
Based on internal estimates and September 2012 feasibility study . Calculated on a 75:1 silver/gold ratio. Notes 1, 2, 5, 6 & 7. 11
IRR (After Tax)
$27.50 28% 39% 54%
$25.00 21% 31% 43%
$22.50 14% 22% 36%
$20.00 6% 13% 26%
$17.50 na 1% 17%
Feasibility
Original
$180M
Internal
Projection Current
$150M
Capex
$128M
Q2 2015
Feasibility Target
Silver $/oz
Capex CapexAdjusted to Reflect Updated
Mexican Tax Increases

12. SAN JOSÉ MINE: GOLD & SILVER,
HIGH GRADE & BIG NEIGHBOUR
2015 estimate based on a 75:1 ratio. See cautionary note regarding non-GAAP measures. Notes 1, 3, 4, 13 & 15. 12
Santa Cruz
Province,
Argentina
McEwen (49% Owned)
Hochschild (51% Owned/operator)
Goldcorp
Cerro Negro Mine
Underground
Production – Gold & Silver
Coeur
N
0 6
Miles
San José
• 46.5 k oz Au +
3 Moz Ag (MUX’s share)
• $1,225 / oz AuEq AISC
• 6.15 gpt Au + 414 gpt Ag
• $30 M Dividends
Since 2012
2015E
Production

13. McEwen
(100% Owned)
Open Pit, Heap Leach
Mine Permitting
GOLD BAR: PERMITTING (2011 PREFEASIBILITY)
See cautionary note regarding non-GAAP measures. Notes 1, 8, 12 & 13. 13
McEwen JV Barrick Gold Mines/
Deposits
Cortez
Trend
Nevada,
USA
Tonkin
Barrick
Goldrush
Barrick
Cortez Mine
Barrick
Ruby Hill Mine
N
0 6
Miles
12
$55M
Capex
Exploration
Targets
Gold Bar
• Q2 2015 Feasibility Study
• Q2 2016 Final Permits
Expected
• 50,000 oz Au Annual
Production 2017
• $850 / oz AISC
• 1.0 gpt Au Grade
• 8 Year Mine Life

14. San Juan
Province,
Argentina
LOS AZULES:
MASSIVE COPPER DEPOSIT
After tax basis. Based on $3.00/lb copper, $1,300/oz gold. PEA – Preliminary economic assessment.
See cautionary note regarding non-GAAP measures.
14
Mine Life: 35 years
Initial Capex:
$3.9 B
Years 1-5: 563 M lbs Cu
at $0.87/lb cash cost
McEwen
(100% Owned)
19.7 B lbs Cu @ 0.45%
NPV (8%)
after-tax: $1.7 B
IRR after-tax:
14.3%
Open Pit
Pre-Development
2013
Highlights
August 2014 Transaction in Argentina
First Quantum Bought Lumina for $433 M = 1.7¢ / lb Cu

15. Source: Federal Reserve Bank of St. Louis, US. As of March 2, 2015.
U.S. Federal Debt as % of GDP
(Percentage of GDP/year)
Velocity of U.S. Money
(Ratio/year)
vs
15
U.S. Monetary Base
(Billions of dollars/year)

16. FUTURE NEWS
$5,000/oz
Falling Production
Exploration Stopped
ETF Gold Flow
West to East
16

17. MARCH 3, 2015
17
CONTAC: Sheena Scotland,Director, Investor Relations 1.866.441.0690 x410 • info@mcewenmining.com • facebook.com/mcewenrob • twitter.com/mcewenmining

18. August 2014 Transaction in Argentina
First Quantum Bought Lumina for $433 M = 1.7¢ / lb Cu
LOS AZULES: WHAT’S IT WORTH?
Lumina Copper
Taca Taca
25.6 Cu lbs (B)
0.45%
McEwen Mining
Los Azules
19.7
0.45%
Company
Deposit
Cu lbs (B)
Cu%
Lumina sold
$433M
18

19. 2005 2010 2015
Gold
Copper
S&P 500
XAU
TSX Gold
500
2000
3500
2005 2010 2015
-100%
200%
400%
$
19

20. 20
HAVE YOU NOTICED
GOLD’S PERFORMANCE
(Nov 5, 2014 – Jan 29, 2015)
Source: Bloomberg.
Gold Change
Percent
24%
22% 22%
17%
13%
10%
6%
CAD EURO AUD GBP YEN USD CHF
45%
31%
18%
TSE
GOLD
GDX GDXJ
Currency Stocks

21. NEW FEASIBILITY STUDY TO GET TO $120M
Feasibility
Study
Internal
Estimate
 Fixed Assets
 Consumables
Q3 2015
Delivery
 Recovery
 Retention Time
 Consumables
 Fixed Assets
2012
Capex
$180M
2014
Capex
$150M
2015
Capex
$120M
Internal
Targets
Used Equipment
21

22. ASSETS
USA Mexico Argentina
Gold Bar
(Nevada) Permitting
El Gallo 1 & 2
Gold Producer
Los Azules
Large Copper Deposit
San José
Gold / Silver Producer
22
El Gallo 2
Silver, Ready to Build.