Capitan Silver reports annual general and special meeting results

All Matters Overwhelmingly Approved Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) (" Capitan " or the " Company ") is pleased to announce the results of its annual general and special meeting of shareholders (the " Meeting ") held earlier today. A total of 65,819,634 common shares of the Company were voted at the Meeting, representing approximately 51.13% of the total number of common shares of the Company issued and outstanding. All matters presented for approval at the Meeting were overwhelmingly approved, as follows: (Davidson & Company LLP was re-appointed as the auditor of the Company for the ensuing year (99.991% in favour), and the board of directors of the Company (the " Board ") was authorized to fix their remuneration; the shareholder rights plan agreement with Olympia Trust Company, as rights agent (the " Rights Agreement ") and the shareholder rights plan (the " Rights Plan ") pursuant to the Rights Agreement were ratified and approved (99.797% in favour); the 10% fixed omnibus equity incentive plan of the Company (the " Omnibus Plan ") was approved (99.740% in favour) and the aggregate maximum number of common shares of the Company (the " Common Shares ") reserved for issuance pursuant to the Omnibus Plan is 12,800,000 Common Shares; and all of the management nominees were elected to the Board to serve for the ensuing year or until their successors are duly elected or appointed (details in table below).

Detailed voting results regarding the election of directors are as follows:   Further details on the above matters are available in the Company's management information circular dated May 7, 2026, which is available on SEDAR+ ( www.sedarplus.ca ) under Capitan's issuer profile. John-Mark Staude completed his term as a director of the Company and Chairman of the Board effective prior to the Meeting. Mr. Staude has been a director of Capitan since August 14, 2020.

The Company wishes to extend its sincere appreciation to Mr. Staude for his dedication and hard work over the years. Alberto Orozco, CEO and Director of Capitan, commented : "On behalf of the Board of Directors and management of Capitan Silver, I would like to thank John-Mark for his contributions and commitment to the Company. We are grateful for John-Mark's service - both during his time on the Capitan Board and in the early days of forming the Company - and wish him the best in his future endeavours." About Capitan Silver Corp. Capitan is defining a new high-grade silver system at its Cruz de Plata project, located in the heart of Mexico's primary silver belt.

The Company is led by a proven and accomplished management team that has previously advanced three projects into production, on time and on budget. The Company has been diligent in maintaining a tight share structure and has one of the tightest share structures among its peer group, with the top three shareholders owning over 37% of the Company's share capital. Capitan is fully funded and actively drilling at its Cruz de Plata Silver project.

ON BEHALF OF CAPITAN SILVER CORP. "Alberto Orozco" Alberto Orozco, CEO For Additional Information Contact:   CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects" or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the ability of the Company to obtain the final acceptance of the Exchange for the Rights Plan; the ability of the Company to obtain the final acceptance of the Exchange for the Omnibus Plan; and the prospects of the Cruz de Plata silver project (if any).

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of gold and silver; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; and availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ ( www.sedarplus.ca ) under Capitan's issuer profile.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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