Form 8-K
8-K — McEwen Inc.
Accession: 0001104659-26-101630
Filed: 2026-08-26
Period: 2026-08-24
CIK: 0000314203
SIC: 1040 (GOLD & SILVER ORES)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — tm2624008d1_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2624008d1_ex99-1.htm)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 24, 2026
McEWEN INC.
(Exact name of registrant as specified in
its charter)
Colorado
001-33190
84-0796160
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
150 King Street West, Suite 2800
Toronto,
Ontario, Canada
M5H 1J9
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number including area code:
(866) 441-0690
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
MUX
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 24, 2026,
Mr. William Shaver, the Chief Operating Officer of McEwen Mining Inc. (the “Company”) and a member of the Board of Directors
of the Company (the “Board”), retired from his position as Chief Operating Officer of the Company, effective immediately.
Mr. Shaver also retired from his position as a member of the Board, effective immediately. Mr. Shaver’s retirement is not a result
of any disagreement or dispute with the Company.
Item 7.01 Regulation FD Disclosure.
On August 24, 2026, the Company
issued a press release announcing the retirement of Mr. Shaver. A copy of that press release is furnished with this report as
Exhibit 99.1.
The
information furnished under this Item 7.01, including the referenced exhibit, shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, except as shall be expressly set forth by reference to such filing.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits. The following exhibits are furnished or filed
with this report, as applicable:
99.1 Press release dated August 24, 2026
104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document (contained in Exhibit 101)
Cautionary Statement
With the exception of historical matters, the matters discussed in
the press release include forward-looking statements within the meaning of applicable securities laws that involve risks and uncertainties
that could cause actual results to differ materially from projections or estimates contained therein. Such forward-looking statements
include, among others, statements regarding future production and cost estimates, exploration, development, construction and production
activities. Factors that could cause actual results to differ materially from projections or estimates include, among others, future drilling
results, metal prices, economic and market conditions, operating costs, receipt of permits, and receipt of working capital, as well as
other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and other filings
with the United States Securities and Exchange Commission. Most of these factors are beyond the Company’s ability to predict or
control. The Company disclaims any obligation to update any forward-looking statement made in the press release, whether as a result of
new information, future events, or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
2
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
McEWEN INC.
Date: August 26, 2026
By:
/s/ Carmen Diges
Carmen Diges, General Counsel
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2624008d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
McEwen Announces
Planned Retirement of COO &
Promotions to Its Senior Leadership Team
TORONTO, August 24, 2026 - McEwen Inc.
(NYSE/TSX: MUX) (“McEwen” or the “Company”) today announced the planned retirement of Chief Operating Officer
William Shaver. Mr. Shaver has dedicated more than 55 years of his career to the mining industry, including the past 4 years at McEwen.
In 1980, he co-founded Dynatec Corporation, which became one of the leading contracting
and mine operating groups in North America. Bill’s relentless commitment has left its mark on both the industry and the people
he has worked with and mentored. Mr. Shaver will continue to serve on the Board of Directors of McEwen Copper, which is 46.3% owned
by McEwen.
“I have worked with Bill since the
construction of the Red Lake Mine at Goldcorp and want to thank him for his service at McEwen. With our newest Stock Mine in Timmins nearing
completion and El Gallo in Mexico starting construction, Bill and the Board thought it was the right time to promote the next generation
of talent within the Company. The Board also thought it was very appropriate to name the new ramp at the Stock Mine, the William Shaver
Ramp, in recognition of his contribution to the growth of the Company,” stated Rob McEwen, Chief Owner.
As a result of Mr. Shaver’s retirement,
McEwen has made several promotions to its leadership team. The Company views current production, mine construction and permitting as the
three keys to successfully reaching its goal of 250,000-300,000 GEOs by 2030. To that end, McEwen will be making three appointments to
address these areas and our Vice-Chairman, Ian Ball, will be working closely with these gentlemen to propel McEwen forward.
Channa Kumarage – Promoted to Vice President,
Operations
Mr. Kumarage will be responsible for overseeing
the Company’s operating mines. He has held progressive leadership roles within McEwen, including Director of Technical Services,
where he was instrumental in bringing the Froome mine at the Fox Complex in Timmins into production and developing the Stock Mine that
is nearing completion. He brings over a decade of mining engineering and leadership experience across precious and base metals, with prior
roles at Minto Metals Corp., Alamos Gold Inc., and Goldcorp Inc. Mr. Kumarage is a licensed Professional Engineer registered with
Professional Engineers Ontario (PEO), a Qualified Person (QP) under NI 43-101, and holds a Bachelor of Applied Science in Mineral Engineering
from the University of Toronto.
Kevin Bromfield – Promoted to Vice President,
Development Projects
Mr. Bromfield will lead the teams responsible
for the engineering and building of Grey Fox (Fox Complex, Timmins), Tartan Mine Project (Flin Flon, Manitoba) and Lookout Mountain/Windfall
(Gold Bar Mine Complex, Nevada).
Mr. Bromfield brings a high level of technical
expertise in the areas of mine construction, underground development, continuous improvement, alternative material handling systems, ore
sorting, and shaft sinking. He holds a B.Sc. in Mining Engineering from Queen’s University and an Executive MBA from the Ivey School
of Business.
McEwen Inc. Page 1
Zahir Jina – Promoted to Vice President,
Permitting, Government Relations and Sustainability
Mr. Jina is an environmental
management, engagement and permitting professional with more than 15 years of experience advancing Canadian and international mining projects
through provincial, state and federal approval processes, from greenfield or brownfield development to closure. At SLR Consulting,
he was a lead author of the Environmental Effects Review for IAMGOLD's Côté Gold Project and worked with regulators on the
amended approval conditions for what is now one of Canada's largest gold mines. Prior to joining McEwen, he was Director, Environment
at Wyloo, leading regulatory approval strategy and environmental management programs for critical minerals development in northern Ontario,
with earlier roles at Treasury Metals, Teck Coal and Anglo American. Mr. Jina is a certified Environmental Professional (EP),
Project Management Professional (PMP) and Certified Engineering Technologist (C.E.T.).
ABOUT MCEWEN
McEwen shares trade on both the NYSE and TSX under
the ticker MUX.
McEwen provides its shareholders with exposure
to a growing base of gold and silver production in addition to a very large copper development
project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world: the Cortez Trend in Nevada,
USA, the Timmins district of Ontario and Flin Flon in Manitoba, Canada, and the Deseado Massif in Santa Cruz province, Argentina.
McEwen is also reactivating its El Gallo gold and silver mine in Mexico.
The Company has a 46.3% interest in McEwen Copper,
which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province,
Argentina – a region that hosts some of the country’s largest copper deposits. Based on McEwen Copper’s last financing
in October 2024, the implied value of McEwen’s ownership interest is US$456 million. Since then, the value of Los Azules
has improved for three important reasons: 1) The copper price is 50% higher, 2) The Company has completed a robust Feasibility Study using
a $4.35/lb copper price and 3) Los Azules received approval under Argentina’s Large Investment Regime (RIGI), which significantly
improves the economics of the project. Los Azules is a shovel-ready project designed to be one of the world’s first regenerative
copper mines and carbon neutral by 2038.
McEwen
also owns a 1.25% NSR on Los Azules. Based on the 2025 Feasibility Study and using a recent copper spot price of $6.50/lb,
McEwen’s royalty is projected to generate approximately $584 M from
the initial case and $860 M from the potential Nuton extension, for a combined
undiscounted pre-tax royalty cash flow of approximately $1.4 B.
McEwen also recently purchased 27.3% of Paragon
Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay™ units around the world, a technology that the
Company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of
the leading service providers.
Chairman and Chief Owner Rob McEwen has
invested over US$290 million personally and takes a salary of $1 per year, aligning his interests with shareholders.
He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year
(Energy) award. His objective is to build MUX’s profitability and share value, as he did while building Goldcorp Inc.
McEwen Inc. Page 2
CAUTION CONCERNING
FORWARD-LOOKING STATEMENTS
This news release contains
certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed are as at the date of this news release
and are McEwen Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results.
Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable
by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there
can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could
differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future
events to differ materially from current expectations expressed or implied by the forward-looking statements and information include,
but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security
risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals
required in connection with operations, risks associated with the construction of mining operations and commencement of production and
the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty
as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and
other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as
of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of
new information or events after the date hereof except as may be required by law. See McEwen Inc.'s Annual Report on Form 10-K for
the fiscal year ended December 31, 2025, and other filings with the Securities and Exchange Commission, under the caption "Risk
Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information
regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement.
The NYSE and TSX have not reviewed and do not
accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of
McEwen.
Want News Fast?
Subscribe to our email list by clicking here:
https://www.mcewenmining.com/contact-us/#section=followUs
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WEB SITE
SOCIAL MEDIA
www.mcewenmining.com
McEwen
Facebook:
facebook.com/mceweninc
LinkedIn:
linkedin.com/company/mceweninc
CONTACT INFORMATION
X:
X.com/mceweninc
150 King Street West
Instagram:
instagram.com/mceweninc
Suite 2800, PO Box 24
Toronto, ON, Canada
McEwen Copper
Facebook:
facebook.com/mcewencopper
M5H 1J9
LinkedIn:
linkedin.com/company/mcewencopper
X:
X.com/mcewencopper
Investor Relations:
Instagram:
instagram.com/mcewencopper
(866)-441-0690 - Toll-free
(647)-258-0395
Rob McEwen
Facebook:
facebook.com/mcewenrob
Mihaela Iancu ext. 2006
LinkedIn:
linkedin.com/in/robert-mcewen-646ab24
info@mcewenmining.com
X:
X.com/robmcewenmux
McEwen Inc. Page 3
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