TORONTO, ONTARIO–(Marketwired
– April 10, 2014) – McEwen Mining Inc.
(NYSE:MUX)(TSX:MUX) is pleased to announce production results
for Q1 2014. The Company’s total production for Q1 was 32,146 gold eq. oz⁽¹⁾⁽²⁾
comprised of 20,062 gold oz and 725,025 silver oz. This represents an
approximate increase of 14% compared to Q1, 2013. Full-year guidance remains
unchanged for the year at 135,000-140,000 gold eq. oz. Production costs will be
reported in May 2014 with Q1 financials.

Company Wide Operating Results

*McEwen
Mining holds a 49% attributable interest in the San José mine.

San José Mine, Argentina
(49%)

McEwen
Mining’s attributable production from the San José mine during Q1 2014
was 22,781 gold eq. oz (10,767 gold oz and 720,830 silver oz). McEwen
Mining’s share of production from San José in 2014 is forecasted at
97,500 gold eq. oz (44,000 gold oz and 3,200,000 silver oz).

San José Mine Operating Results

*McEwen
Mining holds a 49% attributable interest in the San José mine.

El Gallo 1 Mine, Mexico
(100%)

In Q1 2014 the El
Gallo 1 mine produced 9,365 gold eq. oz (9,295 gold oz and 4,195
silver oz) establishing a new quarterly production record, 38% higher than Q1
2013 and ahead of budget. In 2014, El
Gallo 1 is forecasted to produce 37,500 gold equivalent ounces
(37,000 gold oz and 25,000 silver oz).

El Gallo 1 is currently being expanded from
3,000 to 4,500 tonnes per day. The expansion is nearing completion and
commissioning is scheduled to start later this month. The increased capacity,
combined with higher grades as mining moves deeper in the pit, is expected to
increase production to 75,000 gold equivalent ounces by 2015.

El Gallo 1 Mine Operating
Results

About McEwen
Mining (
www.mcewenmining.com )

The goal of McEwen
Mining is to qualify for inclusion in the S&P 500 by
creating a high growth gold producer focused in the Americas.
McEwen Mining’s principal assets
consist of the San José mine in Santa
Cruz, Argentina
(49% interest); the El
Gallo complex in Sinaloa,
Mexico; the Gold Bar project in Nevada,
US; the Los Azules project in San
Juan, Argentina.
McEwen Mining has 297,159,359
shares issued and outstanding at April 10, 2014. Rob
McEwen , Chairman, and Chief Owner, owns 25% of the shares of the
Company.

RELIABILITY OF INFORMATION

Minera Santa Cruz S.A.
(“MSC”), the owner of the San José mine, is responsible for and has
supplied to the Company all reported results from the San José mine. McEwen
Mining’s joint venture partner, a subsidiary of Hochschild Mining plc,
and its affiliates other than MSC do not accept responsibility for the use of
project data or the adequacy or accuracy of this release.

Technical
Information

The technical contents of
this news release has been reviewed and approved by William Faust PE, Chief Operating
Officer and a Qualified Person as defined by Canadian Securities Administrator
National Instrument 43-101 “Standards of Disclosure for Mineral
Projects”.

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, as at the date of this news release, McEwen
Mining 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, technical, 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, factors associated with fluctuations in the market
price of precious metals, mining industry risks, political, economic, social,
technical and security risks associated with foreign 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 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 Mining’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2013
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
management of McEwen Mining Inc.

Contact Information:
McEwen Mining Inc.
Sheena Scotland Investor Relations
Tel: (647) 258-0395 ext 410 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)

McEwen Mining Inc.
Facebook: www.facebook.com/mcewenrob
Twitter: www.twitter.com/mcewenmining

Mailing Address
McEwen Mining Inc.
Mailing Address
Toronto, ON M5J
2T3
PO box 792
[email protected]