Capstone Copper completes acquisition of San Pietro copper concessions at Mantoverde-Santo Domingo

Capstone Copper Corp.

(“Capstone” or the “Company”) (TSX:CS) (ASX:CSC) is pleased to announce that it has completed the acquisition of the copper assets at the San Pietro copper-gold-iron-cobalt project (“San Pietro” or the “Project”), strategically located between Capstone’s Mantoverde, Santo Domingo, and Sierra Norte properties in Chile’s Atacama Region (the “Transaction”). Unless otherwise stated, results are presented in United States dollars on a 100% basis.

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Figure 1: Within a ~20km radius in the Mantoverde-Santo Domingo District, Capstone’s mineral concessions contain ~1.6 billion tonnes(2) of Measured & Indicated Mineral Resources inclusive of Mineral Reserves, in addition to ~1.4 billion tonnes(2) of Inferred Mineral Resources, surrounded by key infrastructure and located at low elevation

San Pietro adds approximately 16,000 hectares of highly prospective, underexplored ground to Capstone’s district-scale land position. The Project includes the Rincones and Colla deposits, which host an existing NI 43-101 compliant Inferred Mineral Resource of 492 million tonnes grading 0.23% copper and 0.05 g/t gold, including a higher-grade component (see

Figure 3

). The acquisition provides an immediate increase in mineral inventory and a platform for further resource growth.

Under the terms of the Transaction, Capstone paid total consideration of $25 million in Capstone shares

(1)

to New Golden Exploration Chile SpA (“NGE”), a joint venture indirectly owned by Golden Arrow Resources Corp. (“Golden Arrow”) (75.019%) and its joint venture partner, Sociedad de Servicios Andinos SPA (“SSA”) (24.981%). The acquisition represents a cost-effective expansion of Capsto