EQUITY METHOD INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2024

McEwen Copper Inc.

Schedule of Equity Method Investments [Line Items]

Summary of financial information from operations

	Three months ended		Nine months ended
	September 30, 2024		September 30, 2024
McEwen Copper (100%)
Advanced projects	$	(6,147)	$	(91,877)
Other expenses		(678)		(4,529)
Foreign exchange loss		(308)		(3,990)
Interest and other income (1)		3,295		23,590
Loss before tax	$	(3,838)	$	(76,806)
Current and deferred taxes		—		—
Net loss	$	(3,838)	$	(76,806)
Portion attributable to McEwen Mining (48.3%)
Net loss on investment in McEwen Copper	$	(1,852)	$	(36,680)

(1) Interest and other income include gains on marketable securities and other finance-related income.

Schedule of change in the entity's investment

	Nine months ended		Year ended
	September 30, 2024		December 31, 2023
Investment, beginning of period	$	326,147	$	—
Additional investment in McEwen Copper		14,000		—
Deconsolidation of McEwen Copper		—		383,968
Attributable net loss from McEwen Copper		(36,680)		(57,821)
Investment, end of period	$	303,467	$	326,147

Summary of key assets and liabilities, before and after adjustments to fair value

As at	September 30, 2024
Current assets	$	18,787
Total assets	$	201,902
Current liabilities	$	(5,031)
Total liabilities	$	(5,256)

Minera Santa Cruz S.A.

Schedule of Equity Method Investments [Line Items]

Summary of financial information from operations

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Minera Santa Cruz S.A. (100%)
Revenue from gold and silver sales	$	70,361	$	64,495	$	210,635	$	177,947
Production costs applicable to sales		(58,031)		(43,380)		(154,136)		(131,434)
Depreciation and depletion		(13,248)		(15,190)		(36,897)		(37,783)
Gross profit (loss)		(918)		5,925		19,602		8,730
Exploration		(3,329)		(2,538)		(8,451)		(7,336)
Other income (expense) (1)		1,649		(2,652)		699		(13,797)
Income (loss) before tax	$	(2,598)	$	735	$	11,850	$	(12,403)
Current and deferred tax recovery (expense)		1,280		(3,953)		947		4,190
Net income (loss)	$	(1,318)	$	(3,218)	$	12,797	$	(8,213)
Portion attributable to McEwen Mining Inc. (49%)
Net income (loss)	$	(646)	$	(1,577)	$	6,271	$	(4,025)
Amortization of fair value increments		(833)		(1,217)		(2,209)		(3,370)
Income tax recovery		251		122		689		348
Income (loss) from investment in MSC, net of amortization	$	(1,228)	$	(2,672)	$	4,751	$	(7,047)

(1) Other expenses include foreign exchange gains and losses, accretion of asset retirement obligations and other finance-related expenses.

Schedule of change in the entity's investment

	Nine months ended		Year ended
	September 30, 2024		December 31, 2023
Investment, beginning of period	$	93,218	$	93,451
Attributable net income from MSC		6,271		4,157
Amortization of fair value increments		(2,209)		(4,612)
Income tax recovery		689		517
Dividend distribution received		(383)		(295)
Investment, end of period	$	97,586	$	93,218

Summary of key assets and liabilities, before and after adjustments to fair value

As at	September 30, 2024
Current assets	$	119,562
Total assets	$	211,075
Current liabilities	$	(45,055)
Total liabilities	$	(80,298)