Three months ended June 30,

Six months ended June 30,

2023

2022

2023

2022

Minera Santa Cruz S.A. (100%)

Revenue from gold and silver sales

$

67,712

$

70,827

$

113,452

$

111,530

Production costs applicable to sales

(46,931)

(45,959)

(88,055)

(81,302)

Depreciation and depletion

(14,363)

(5,357)

(22,593)

(12,253)

Gross profit

6,418

19,511

2,804

17,975

Exploration

(2,846)

(3,093)

(4,798)

(4,828)

Other expenses⁽¹⁾

(7,911)

(8,529)

(11,145)

(10,351)

Net income (loss) before tax

$

(4,339)

$

7,889

$

(13,139)

$

2,796

Current and deferred tax recovery (expense)

4,828

(877)

8,143

2,929

Net income (loss)

$

489

$

7,012

$

(4,996)

$

5,725

Portion attributable to McEwen Mining Inc. (49%)

Net income

$

239

$

3,436

$

(2,448)

$

2,805

Amortization of fair value increments

(1,269)

(1,088)

(2,153)

(1,700)

Income tax recovery

116

163

226

286

Income (loss) from investment in MSC, net of amortization

$

(914)

$

2,511

$

(4,375)

$

1,391