Inventus announces early warrant exercise by McEwen Mining

Inventus Mining announced that McEwen Mining (MUX) has exercised 9,200,000 common share purchase warrants as part of the early warrant exercise incentive program for gross proceeds of $828,000. Proceeds from the warrant exercise will be used to advance the Company’s 2025 bulk sampling program at its 100%-owned Pardo Gold Project, located 65 km northeast of Sudbury, Ontario. McEwen Mining exercises 9,200,000 common share purchase warrants for gross proceeds of $828,000. Grade control drilling at Pardo is now underway in preparation for the company’s bulk sample plans. As part of the bulk sampling plan, Inventus has now commenced grade control drilling at Pardo with the intent to better define zones of mineralization in preparation for extraction. The drilling will consist of approximately 50 shallow holes targeting mineralization within 5 metres of surface and is expected to be completed within four weeks. Previous bulk samples at Pardo have demonstrated strong grades, including 3.4 gpt gold in 5,000 tonnes and 4.2 gpt gold in 1,000 tonnes, conducted in 2022 and 2017 respectively, validating the potential for low-cost surface mining.