MERGER: US Gold, Minera Andes to become McEwen Mining

TORONTO - US Gold Corp. and Minera Andes Inc. have arranged to merge their assets and management, becoming McEwen Mining. Robert McEwen, founder of Goldcorp (now the world's second largest gold producer) is chairman and CEO of both US Gold and...

TORONTO - US Gold Corp. and Minera Andes Inc. have arranged to merge their assets and management, becoming McEwen Mining. Robert McEwen, founder of Goldcorp (now the world's second largest gold producer) is chairman and CEO of both US Gold and Minera Andes.

As for assets, US Gold is bringing two advanced gold projects - El Gallo in Mexico and Gold Bar in Nevada - to the new company. Minera Andes brings a 49% interest in the San Jose gold mine, the Los Azules advanced copper exploration project, and its portfolio of other exploration projects in Argentina to the merger.

The agreement calls for shareholders of Minera Andes to receive 0.45 shares of a subsidiary of US Gold. Each share of the subsidiary may then be exchanged for one share of US Gold.

The deal is expected to close later this year and is subject to the normal regulatory reviews.

Please see either www.USGold.com or www.MinAndes.com.

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