McEwen Copper Completes Oversubscribed US$81.85 Million Offering Including a $25 Million Investment by Nuton, a Rio Tinto Venture TORONTO, Aug. 31, 2022 (GLOBE NEWSWIRE) -- McEwen Copper Inc. , a subsidiary of McEwen Mining Inc. (NYSE: MUX ) (TSX: MUX ), is pleased to announce the closing of the third and final tranche of the previously announced private placement offering (the "Offering") of up to 8,000,000 common shares of McEwen Copper Inc. priced at US$10.00 per common share. The third tranche is comprised of a $25 million investment by Rio Tinto''s copper leaching technology venture, Nuton (" Nuton " or the " Investor "), and $1.85 million from other investors. The total Offering has been increased to 8,185,000 common shares, with the amounts raised in the three tranches of the private placement totalling $81.85 million . McEwen Copper is well-funded to advance its Los Azules Project, located in the mining friendly province of San Juan, Argentina. The next milestones are the upcoming drilling season from October 2022 to June 2023, the completion of an updated preliminary economic assessment (PEA) in early Q1 2023, and the planned IPO of McEwen Copper in H1 2023.