McEwen Mining Inc (MUX)

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MCEWEN MINING DECLARES DIVIDEND

TORONTO, Aug 13, 2018 - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) (“McEwen” or the “Company”) today announced that the next semi-annual dividend of a ½ cent per share will be paid on September 4, 2018,to shareholders of record on August 27, 2018.

Reclassification of Previous Return of Capital to Dividend
On February 14, 2018, McEwen Mining paid a semi-annual return of capital of ½ cent per share, for a total distribution of $1.7 million. Upon further evaluation of requirements under the Tax and Jobs Act, enacted on December 22, 2017, the Company expects to be in a taxable income position for 2018. Consequently, the distribution made on February 14, 2018 has been re-characterized from a return of capital to a taxable dividend. The Company will make the necessary tax withholding payments to the IRS, and shareholders will be taxed on the distributions as though they were dividends.

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