McEwen Mining, Inventus enter milling agreement

Inventus signed a milling agreement with McEwen Mining (MUX) for the processing of bulk sample material from its 100%-owned Pardo Gold Project, located 65 km northeast of Sudbury, Ontario. Under the newly signed milling agreement with McEwen Mining, Inventus will process bulk sample material from the Pardo Gold Project at McEwen’s Stock Mill. Under the agreement the Company can process up to 5,000 tonnes per month, for a total of up to 45,000 tonnes. A 1,000-tonne bulk sample from Pardo was processed at the Stock Mill in 2017 yielding an average grade of 4.2 gpt gold with an 89% recovery rate. However, based on the Company’s previous metallurgical testing, recoveries could be up to 95% under optimized conditions. Bulk sample extraction at 007 North, targeting 5,000 tonnes, is progressing well with the waste removed and the gold mineralization being blasted and mucked in preparation for crushing and trucking to McEwen’s Stock Mill. Bulk Sample processing of 007 North material is expected to commence in late July with a series of planned bulk samples ongoing into the first half of 2026. The 007 North Bulk Sample is targeting flat-lying gold mineralization within 6 metres of surface that was previously reported to have an average grade and thickness from grade-control drilling of 3.84 gpt gold over 1.82 metres. Grade-control drilling resumed on June 25th to define the remaining 30,000 tonnes of the planned 45,000-tonne bulk sample program, building on the success of the initial phase that defined the first 15,000 tonnes. The drill will also be conducting Phase 2 resource drilling as part of the Company’s larger plan to define additional gold mineralization in preparation for a maiden resource estimate on the property. Additional updates on drilling progress and results will be provided as the program advances.