McEwen Inc. has secured a key permit for its El Gallo Mine in Mexico, receiving an extension of its Environmental Impact Assessment from the Mexican government. This approval allows the company to move forward with Phase 1 mill construction, scheduled to begin in mid-2026, with the first gold pour targeted for mid-2027. The company has already purchased and delivered the ball mill to the site and has begun preparations for Phase 2, which will focus on silver production from in-situ deposits, potentially extending the mine's operational life beyond the initial 10 years.

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