1 1

MUX

May 7, 2013

2 2

It’s Money

3

Gold

Reasons Unchanged Now More Attractive!

4

Overtaking GDP Debt Service Threatening

1. Massive Debt Burden

5

2. Unending QE

Worldwide USA & Japan Alone

Adding $2 Trillion Next 12 Months

6

3. Inflation - Everywhere

*As of May 7, 2013

7

4. Theft – Gov’t Style Low Interest Rates

Cyprus - Stealing from Depositors

ABN Amro – Default on Gold Delivery

8

Ignore History at Your Risk

*As of May 7, 2013

9 9

10

Gold vs Shares

*As of May 7, 2013

Huge Divergence

11

White House Effect

-40%

0%

40%

80%

*As of May 7, 2013

84 88 92 96 00 04 08 12

Presidential Election Year Post Election Year

Bre-X

/85 /89 /93 /97 /01 /13 /09 /05

7 8

8 8

Performance of XAU

12 12

MUX

13

Cautionary Statement This presentation 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 presentation, 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, risks related to the cost of transferring or otherwise allocating funds between operating jurisdictions, factors associated with fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, risks associated with mining operations, the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, property title, 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, 2012 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 presentation are qualified by this cautionary statement.

14

Qualify For S&P 500

Our Goal

15

Key Assets Gold Bar Gold Permitting El Gallo 2

Silver Permitting

Los Azules Copper Copper Exploration

San José Mine (49%) Silver / Gold

Production

El Gallo 1 Mine Gold

Production

16

Resource Base

*See resource table, M&I= Measured & Indicated, B=Billions

M&I Inferred M&I Inferred Indicated Inferred

106 M oz

125 M oz 4.2 M oz

3.3 M oz

4.5 B lbs

Inferred GOLD SILVER COPPER

15 B lbs

17

Ownership

25% $125 M Cost

18

Finances

$50 M No Debt

*As of April 29, 2013

19

Revenue

2 Mines San José El Gallo 1

20 *Gold Equivalent

Forecast Annual Production Growth 2015 Est. Cash Cost $750 / oz

2015 Est. Total Sustaining Cost $1,000 / oz

105,000 oz

290,000 oz

130,000 oz 180,000 oz

San José El Gallo 1 El Gallo 2 Gold Bar 2012A 2013E 2014E 2015E

21

Contingency, $18.8

Owners Cost, $8.8

Final Engineering, $8.5

Construction Management, $12.0

Spares, $2.0

Construction Labour, $22.0 Plant Equipment,

$57.0

Cement/Steel, $37.0

Construction Equipment, $10.0 Other, $5.0

El Gallo 2 Capex Breakdown $180 Million

22

Development Economics

Silver Price / oz

NPV 5% (Millions)

Payback After Tax

IRR

$30.00 $212 2.0 39% $27.50 $165 2.2 33% $25.00 $118 2.6 26% $22.50 $71 3.0 18% $20.00 $23 4.1 10%

El Gallo 2

23

MUX Cost of Capital

24

Alternatives. Path.

-200

-150

-100

-50

0

50

100

Wor

king

Cap

ital (

$ M

illio

ns)

*Gold $1,350 Silver $23.00

Stop all work El Gallo 2 on hold Finish Mill Engineering Stop Gold Bar work

Projects Maintaining Timeline

Q2-13 Q4-14 Q2-14 Q4-13

Cash Scenarios

25

Sale / JV Los Azules

Lease / Debt / Equity

Possible Financing Sources

26

Los Azules: Possible Source of Funding Asset Sale or JV

For Sale

27

Los Azules vs Lumina Copper 50% Resource

Growth Since PEA Los Azules(1)

(McEwen) Taca Taca(2)

(Lumina) Production 375,000 535,000

Capex $2.8 Billion $3.0 Billion Cash Cost Net by-product

$0.96 $1.11

Copper Grade 0.50% 0.45% Strip Ratio 1.3:1 1.6:1 Mine Life 26 Yrs 28 Yrs

1) June 2012. 2) April 2013

Argentina Copper Development Projects

28

Los Azules - Copper

Copper Cut-off

Tonnage (Mt) Copper Grade

Contained Copper (B lbs)

Indicated Resource 0.35% 310 0.65% 4.5

Inferred Resource 0.35% 1,302 0.49% 14.0

50% Resource Growth Since Pea

$25 Million Exploration

New PEA Q3

29

Comparing Market Caps

McEwen Mining Lumina Copper

*As of May 8, 2013

$640 Million $325 Million

30

San José Mine: Forecast 2013

*Silver : Gold ratio (52:1)

Gold & Silver Production, Gold Eq. 102,700 oz

Annual

12 Yr Mine Life

$750 / oz Cash Cost

$1,300 / oz Total Cost

30

High-Grade Gold + Silver

Argentina

31

San José: High Grade Comparison of High-Grade Deposits

0

4

8

12

16

20

0 2 4 6 8 10 12 14

HOC / McEwen San José

Size (Million Au Eq. oz)

Gra

de (A

u gp

t Eq.

)

Rubicon Phoenix

Pretium Valley of Kings

Goldcorp Red Lake

Goldcorp Elenore

Goldcorp Cerro Negro

Yamana El Penon

Mine Development Exploration

32

El Gallo 1: Forecast 2013 Gold Production 30,000 oz Au

Annual

8 Yr Mine Life

$750 / oz Cash Cost 2013

$1,250 / oz Total Cost

32

Open-Pit Heap Leach

Mexico

33

El Gallo 1: Central Zone - Growth

34

El Gallo 1: Central Zone - Growth

35

El Gallo 1 & 2

+ 500,000 acres 5 Km Apart

Mexico

36

Plans for 2013 25% Production Growth Start Construction El Gallo 2 Exploration

New Trend @ Los Azules New Approach in Nevada Expanding Resource in Mexico

Finance Completion El Gallo 2 (Equity, Debt, Asset Sale) $120 Million

37

El Gallo Twin Domes - Growth

38

El Gallo 2: Feasibility Study

*Silver : Gold ratio (52:1), **Silver price assumption $25.00

Construction Forecasted to Begin Q4 2013

105,000 oz Au Annual

$620/oz Cash Cost

$700/oz Total Cost

Mid-2014 Production Starts

Capex $180 Million

Payback** After Tax 2.8 Yrs

38

Mexico

7 Yr Mine Life

39

Gold Bar – Cortez Trend, Nevada Next to World’s Largest Gold Mine

40

55,000 oz Au Annual

$700/oz Cash Cost

$850/oz Au Eq Total Cost

2015 Production Starts

Gold Bar Production Forecast

*Gold $1,450

Construction Forecasted to Begin 2014 Capex

$55 Million Payback Period*

After Tax 2.1 Yrs

40

Nevada

8 Yr Mine Life

41

Development Economics

Gold Price / oz

NPV 5% (Millions)

Payback After Tax

IRR

$1,750 $134 1.6 56% $1,550 $100 1.9 45% $1,350 $65 2.5 33% $1,150 $30 3.8 19%

Gold Bar

42 *Gold Equivalent

Forecast Annual Production Growth 2015 Est. Cash Cost $750 / oz

2015 Est. Total Sustaining Cost $1,000 / oz

105,000 oz

290,000 oz

130,000 oz 180,000 oz

San José El Gallo 1 El Gallo 2 Gold Bar 2012A 2013E 2014E 2015E

43

McEwen Mining Capital Structure

*As of May 8, 2013

Shares Issued & Outstanding MUX (NYSE, TSX) 258.5 Million MAQ (TSX) 38.5 Million Fully Diluted 301.5 Million

Price 52 Week High – Low $4.94 – 1.67

Market Cap Average Daily Vol (12 month)

297.0 Million

$2.15

$640 Million 3.0 Million

44

McEwen Mining Management Team ROBERT MCEWEN Executive Chairman and CEO 30 years experience Founder of Goldcorp Honorary Doctor of Law MBA

PERRY ING Chief Financial Officer 15 years experience Controller Goldcorp Consultant Barrick PwC

WILLIAM FAUST Chief Operating Officer 34 years experience COO Crystallex VP Ops Nevada Pacific Gold President Mexico Ops Pan American Silver

IAN BALL Senior Vice President 9 years experience Discovered El Gallo Deposit McEwen Capital Goldcorp

45

FERNANDO AGUILAR Operations Manager, Mexico 20 years experience Peñasquito Goldcorp El Sauzal Goldcorp Alamo Dorado Pan American Silver

McEwen Mining Management Team

CARLOS LIGGESMEYER Country Manager, Argentina 15 years experience Certified Public Accountant MBA

ANDREW ELINESKY Vice President – Argentina Corporate Controller Minera Andes

EURIDICE GONZALEZ Country Manager, Mexico 10 years experience Completed land acquisition of El Gallo Complex

46

NILS F. ENGELSTAD Vice President, Corporate Affairs Hon BA (international relations) Bachelor of Laws (LL.B) Master of Laws (LL.M) Member of Law Society of Upper Canada

McEwen Mining Management Team LUKE WILLIS Director, Resource Modelling 13 years experience Red Lake Goldcorp Hemlo Mine Barrick

NIGEL FUNG Director, Mine Planning 13 years experience Consulting Mine Engineer Tetatech Rosebel Gold Mine IAM Gold

SIMON QUICK Vice President - Projects Degree in Economics with Distinction

47

Contact Information Jenya Meshcheryakova Investor Relations

Tel: 1.866.441.0690 x.410

Email: info@mcewenmining.com

facebook.com/mcewenrob

twitter.com/mcewenmining

store.mcewenmining.com

48

San José Mine (49%) (1)

Tonnes (MM*) (100%) Ag Grade (g/t) Au Grade (g/t) Ag (MMoz*)

(100%) Au (MMoz*)(100%)

Proven 0.7 511 7.26 10.6 0.14

Probable 0.75 394 5.45 8.6 0.12

Measured (inclusive of P+P) 1 570 8.1 16.6 0.23

Indicated (inclusive of P+P) 2 426 6.14 24.8 0.35

Inferred 2.9 373 5.96 31.5 0.5

El Gallo Complex Silver (2)

Tonnes (MM*) (100%) Ag Grade (g/t) Ag (MMoz*)

(100%)

Measured 21.4 71.1 48.8

Indicated 2.6 51.3 4.3

Inferred 27.4 35.1 31

Resource Table: Combined resources calculated using the following.

49

El Gallo Complex Gold(2)

Tonnes (MM*) (100%) Au Grade (g/t) Au (MMoz*)

(100%)

Measured 28.3 0.46 0.41

Indicated 6.1 0.78 0.15

Inferred 27.6 0.31 0.27

Gold Bar(3) Tonnes (MM*) (100%) Ag Grade (g/t) Au Grade (g/t) Ag (MMoz*)

(100%) Au (MMoz*)(100%)

Measured 0.7 1.19 0.03

Indicated 18.8 0.94 0.57

Resource Table: Cont’d

Limo (5) Tonnes (MM*) (100%) Ag Grade (g/t) Au Grade (g/t) Ag (MMoz*)

(100%) Au (MMoz*)(100%)

Measured 5.9 0.89 0.17

Indicated 3.7 0.61 0.07

Inferred 2.2 0.7 0.05

50

Los Azules(6) Tonnes (MM) Cu Grade (%) Au Grade (g/t) Ag Grade (g/t) Cu (B lbs)

Indicated 310 0.65 0.07 1.8 4.5

Inferred 1,302 0.49 0.06 2.0 14.0

Limo(5) Tonnes (MM*) (100%) Ag Grade (g/t) Au Grade (g/t) Ag (MMoz*)

(100%) Au (MMoz*)(100%)

Measured 5.9 0.89 0.17

Indicated 3.7 0.61 0.07

The cumulative resource and reserve figures set forth above is comprised of the following: (1) The resources and reserves figures on this page were derived from McEwen Mining Inc.’s news release titled “McEwen Mining Announces Resource and Reserve Increases at the San José Mine in Argentina” released on March 19, 2012 by McEwen Mining. (2) See the El Gallo Report. (3) See the Gold Bar Report. (4) Tonkin resources information was derived from the report “Technical Report on the Tonkin Project” with an effective date of May 16, 2008 prepared by Alan C. Noble, P.E., Ore Reserves Engineering, Richard Gowans, Micon International and Steven Brown, US Gold Corporation. Mr. Noble and Mr. Gowans are independent of US Gold Corporation and a Qualified Person as defined by NI 43-101. (5) Limo resources information was derived from the report “NI 43-101 Technical Report for the Limousine Butte Project, White Pine County, Nevada” with an effective date of July 1, 2009 prepared by John Welsh, P. Eng., Kim Drossulis, Senior Engineer, Jonathan Brown, M.B.A., C.P.G., Doug Willis, Geologist, Christine Ballard, Project Geotechnical Engineer, Eric Haddox, P. Eng. (the “Limo Report”). Each of the Limo report authors is independent of US Gold Corporation and a Qualified Person as defined by NI 43-101. (6) See the Los Azules Report.

Resource Table: Cont’d