McEwen Mining (NYSE: MUX) (TSX: MUX), a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina, has entered into a definitive agreement and plan of merger to acquire all issued and outstanding shares of Timberline Resources Corporation (TSX.V: TBR) (OTCQB: TLRS). The merger will be between Timberline and a subsidiary of McEwen and, when completed, will expand McEwen’s existing portfolio of development and exploration projects in Nevada. According to announcement, Timberline shareholders will have the right to receive 0.01 of a share of McEwen’s common stock for each share of Timberline’s common stock. Timberline’s board of directors has unanimously recommended that shareholders vote in favor of the acquisition.
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About McEwen Mining Inc.
McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. In addition, the company owns approximately 47.7% of McEwen Copper, which owns the large, advanced-stage Los Azules copper project in Argentina. The company’s goal is to improve the productivity and life of its assets with the objective of increasing its share price and providing a yield. Rob McEwen, chair and chief owner, has a personal investment in the group of $220 million and takes an annual salary of $1. To learn more about the company, visit www.McEwenMining.com.
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