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Capstone Announces Change to Board of Directors

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VANCOUVER, British Columbia –
Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) announces that Mr. SeungWan Shon has resigned from the Board of Directors of the Company effective immediately.

Mr. Shon was Korea Resources Corporation’s nominee elected to the Board of Directors, and served as a member of the Technical, Health, Environmental, Safety and Sustainability Committee.

Mr. George Brack, Chairman of the Board, commented, “On behalf of Capstone’s Board of Directors, I would like to thank Mr. Shon for his valuable contributions during his tenure and wish him well in the future.”

ABOUT CAPSTONE MINING CORP.

Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. We are committed to the responsible development of our assets and the environments in which we operate. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone owns 100% of Santo Domingo, a large scale, fully permitted, copper-iron-gold project in Region III, Chile, as well as a portfolio of exploration properties. Capstone’s strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Further information is available at www.capstonemining.com.

Jerrold Annett, SVP, Strategy and Capital Markets

647-273-7351

[email protected]

Kettina Cordero, Director, Investor Relations & Communications

604-262-9794

[email protected]

MVDP

The Mantoverde Development Project (“MVDP”) represents a transformational expansion of our Mantoverde mine in Chile to process sulphide ore via a copper concentrator, in addition to the mine’s current oxide ore processing capabilities. The $870 million project is in the commissioning and ramp-up stage, with nameplate production levels expected to be achieved in Q3/2024, and is expected to drive significantly higher consolidated production at lower unit costs for Capstone Copper.

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