October 26, 2006 at 19:06 PM EDT
McEwen Capital: Last Chance to Get a Vote, Act Now!

McEwen Capital -

Dear Fellow Shareholder,

RE: Last Chance to Get a Vote, Act Now!

The purpose of this letter is simple. I want you to express your support for a Vote, Now! We have a second chance at getting a Vote, but you have to act fast!

On November 1st we are going back to Court appealing this week's decision, in which the Court refused to order Goldcorp to give us a Vote. Although Glamis shareholders have accepted the offer today, both Goldcorp and Glamis have agreed with us not to close the transaction before the Court gives its decision on my appeal.

That's why we have a second chance. Show your support now, tell the Board, tell other shareholders, tell the media and tell the Court that we deserve a Vote!

Our CEO says most Goldcorp shareholders don't want a vote. I have heard otherwise, here is what he said on RobTV yesterday:

"We have over 150 institutional shareholders and I think Rob has 3 and we have over 100,000 retail shareholders and I think Rob has a 1,000. So it's a very small portion of our shareholders." He continued by saying "If 60% of shareholders had gone onto Rob's website that would be different, but when he is down around 5-6%, including his own shareholdings, clearly our shareholders don't want a vote."

One of Canada's largest investors, the Ontario Teachers' Pension Plan stated last Friday that Goldcorp shareholders should have a vote. Furthermore they said:

"The number of shares being issued by Goldcorp to acquire Glamis is roughly 66% of the number of Goldcorp shares outstanding today. We think this is well beyond the level where shareholder input should be sought" and that "other jurisdictions recognize that, although boards are entitled to some latitude in issuing new shares for acquisitions or financings, shareholders get a say when the dilution goes beyond a certain point."

Now is not the time to remain silent. Only through your action can we hope to get a vote. Fill out a support form at www.robmcewen.com/support/ and send it back ASAP. Let's show the Board we want a vote!


Contacts:
McEwen Capital Corporation
Robert R. McEwen
(647) 258-0395 or Toll Free: 1-866-441-0690
(647) 258-0408 (FAX)

McEwen Capital Corporation
Ian J. Ball
(647) 258-0395 or Toll Free: 1-866-441-0690
(647) 258-0408 (FAX)

McEwen Capital Corporation
Stefan M. Spears
(647) 258-0395 or Toll Free: 1-866-441-0690
(647) 258-0408 (FAX)
Email: info@mcewencapital.com

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