VANCOUVER, August 30, 2010 /PRNewswire-FirstCall/ -- - Interim Update Adds 252 Million Pounds of Copper Outside of Main Deposit; Exploration Continues With Three Drills
Capstone Mining Corp. (CS: TSX) today announced the results of National Instrument 43-101 compliant mineral resource estimates for four separate undeveloped deposits at its high grade Minto copper-gold mine in Yukon, Canada. New mineral resource estimates have been completed for all deposits not currently being mined, including the Area 2/118 deposit, the Ridgetop deposit, the Minto North deposit and the Minto East deposit. These are interim results as the estimates only include drilling conducted to the end of April 2010. Exploration continues with three drill rigs and additional resource updates are anticipated in time for inclusion into an updated pre-feasibility study currently underway. The updated mineral resource estimates reported herein are for undeveloped deposits only and exclude the Main deposit, which is currently being mined and processed.
The net result of successful 2009-2010 exploration programs, up to the end of April 2010, using a copper cut-off grade of 0.5% copper, is that the estimated measured and indicated mineral resource saw an increase of 44% in contained copper, 35% in contained gold and 42% in contained silver over the last consolidated mineral resource estimate that provided the basis of the Phase IV PFS released on December 15, 2009. The updated mineral resource estimate for all undeveloped deposits at the Minto Mine are tabulated below and are discussed by deposit in the appropriate sections in this release.
Mineral Resources by Class for All Deposits Outside of the Current Mining Operation (at a 0.5% copper cut-off) ------------------------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000s (000s (000s Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) 10,417 1.39% 0.56 4.6 319,078 188 1,557 ------------------------------------------------------------------------- Indicated (I) 23,944 0.96% 0.32 3.4 506,014 247 2,594 ------------------------------------------------------------------------- Sub-total (M+I)(xx) 34,362 1.09% 0.39 3.8 825,091 435 4,150 ------------------------------------------------------------------------- Additional Inferred 6,504 0.90% 0.30 3.1 129,606 63 642 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding
"The significant increase in mineral resources at the Minto Mine in a short period of time reflects the mine's tremendous exploration potential," said Stephen Quin, Capstone's President. "Further, with drilling continuing subsequent to the effective date of this estimate, with the notable success of the Wildfire discovery, further increases in confidence levels and potential gains in contained metal can be anticipated as 2010 progresses."
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.
Change in Mineral Resource Estimates 2009-2010
The 2010 updated mineral resource estimates result in both an overall gain in tonnage and contained metal, as well as a substantial positive upgrade in classification in mineral resources over 2009, with only modest decreases in grades. The third line in the following table shows the net changes in tonnes, grade and contained metal, while the last line expresses these changes as a percentage of the total gains. The increase in tonnes and significant net increase in contained metal is a result of the addition of significant tonnages of new resources at the Area 2/118 and Ridgetop deposits coupled with a the new high grade discovery at Minto East, plus some modest gains at the high grade Minto North deposit.
Consolidated Measured and Indicated Mineral Resources(x) - Comparison of 2009 and 2010 Estimates ------------------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Copper Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured + Indicated in 2009(x) 23,397 1.11 0.43 3.9 573,334 323 2,918 ------------------------------------------------------------------------- Measured + Indicated in 2010(x) 34,362 1.09 0.39 3.8 825,091 435 4,150 ------------------------------------------------------------------------- Change in M&I (2009 - 2010) +10,965 -0.02 -0.04 -0.01 +251,757 +112 +1,232 ------------------------------------------------------------------------- % Change 46.9% -1.8% -9.3% -3.9% 43.9% 34.8% 42.2% ------------------------------------------------------------------------- (x) Excludes resources and reserves in the Main Deposit Area 2/Area 118 Deposit
Previously, Area 2 and Area 118 were treated as separate deposits but, based upon drilling in 2008 through early 2010, they are now considered one deposit with the east part (Area 2) interpreted as being thrust over the west part (Area 118). For the purposes of mineral resource estimation and any subsequent economic evaluation and, due to their juxtaposition, they are considered one larger, dismembered deposit. Drilling in 2010 also shows continuity between the eastern end of the deposit (Area 2) and Copper Keel North and substantial tonnage gains were made in drilling the former gap between these two areas. The updated and combined mineral resource for Area 2/118 is tabulated below.
Mineral Resources by Class for the Area2/Area118 Deposit (at a 0.5% Copper cut-off) -------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) 7,043 1.28 0.49 4.40 198,344 110 996 ------------------------------------------------------------------------- Indicated (I) 19,411 0.92 0.30 3.32 393,939 185 2,071 ------------------------------------------------------------------------- Sub-total (M+I)(xx) 26,454 1.02 0.35 3.61 592,283 295 3,066 ------------------------------------------------------------------------- Additional Inferred 5,573 0.83 0.26 2.89 101,519 47 518 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding
The increases in mineral resources at Area 2/Area 118 versus those reported in 2009 are the direct result of the infill and step out drilling conducted during the early part of 2010. This drilling has not only increased the total size of the resource but has also increased the confidence in those resources, resulting in significant amounts of mineral resources previously classified in the inferred category now upgraded to measured and indicated categories.
The mineral resource estimates for Area 2/118 are quoted on the basis of a 0.5% copper cut-off in order to allow comparison to prior estimates and other deposits. The actual cut-offs used for mineral reserve estimation may vary from this cut-off and will be determined as part of the on-going pre-feasibility study. Further, some of the Area 2/118 mineral resources are being contemplated for underground extraction as noted in prior disclosure, which would use a significantly higher cut-off grade than that discussed herein. However, until a determination is made as to the ultimate size of the proposed open pit and extraction of underground mineral resources, it is not possible to provide guidance as to the potential mineable tonnage and grade for this deposit.
Dr. Wayne Barnett, Ph.D, Pr.Sci.Nat and Marek Nowak, P.Eng. of SRK Consulting (Canada) Inc. ("SRK") estimated the mineral resources for the combined Area 2/Area 118 deposit in July, 2010 and the results are effective as of July 26, 2010. The estimate was completed in Gemcom Software GEMS(C) using a three dimensional block model (10m by 10m by 3m (vertical) block size). The mineralization was interpreted into 17 different domains and wireframes were created and geostatistical analysis was completed on the assay and 1.5m composite data for each of the metals. The grades for copper and gold were interpolated into the block model using ordinary kriging method while the inverse distance squared method was used for comparative purposes. Whereas the silver grades were interpolated using the inverse distance squared method only. Interpolated results are reported in measured, indicated and inferred categories and were based on continuity of the mineralization and sample density.
Ridgetop
Ridgetop is a near surface, more moderate grade deposit that is expected to have lower strip ratios than the other deposits identified to date at the Minto Mine. The updated mineral resource estimate for the Ridgetop deposit is tabulated below using a 0.5% copper cut-off. Actual cut-offs used for mineral reserve estimation may vary from this cut-off and will be determined as part of the on-going pre-feasibility study.
Mineral Resources by Class for the Ridgetop Deposit (at a 0.5% copper cut-off) -------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) 1,530 0.98 0.25 2.14 33,204 12 105 ------------------------------------------------------------------------- Indicated (I) 3,533 0.87 0.30 2.87 67,901 34 326 ------------------------------------------------------------------------- Sub-total (M+I)(xx) 5,064 0.91 0.28 2.65 101,104 46 431 ------------------------------------------------------------------------- Additional Inferred 318 0.75 0.13 1.57 5,250 1 16 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding
As for Area 2/118, the Ridgetop drill programs in 2009 and 2010 resulted in a significant percentage of the Ridgetop mineral resource being upgraded from the inferred class to measured and indicated class.
Dr. Barnett and Mr. Nowak of SRK estimated the mineral resources at Ridgetop in May, 2010, and the results are effective as of the July 26, 2009. It was completed in Gemcom Software GEMS(C) using a 3 dimensional block model (10m by 10m by 3m (vertical) block size). The mineralization was interpreted into seven different domains and wireframes were created and geostatistical analysis was completed on the assay and 1.5m composite data for each of the metals.
The grades for copper and gold were interpolated into the block model using ordinary kriging method (and inverse distance squared method for comparative purposes), whereas the silver grades were interpolated using the inverse distance squared method. Interpolated results are reported in measured, indicated and inferred categories and were based continuity of the mineralization and sample density.
Minto North Deposit
The Minto North deposit comprises relatively near surface, higher grade copper-gold mineralization discovered in 2009. Late in that same year a program of infill drilling was completed to upgrade the mineral resource classification from largely inferred to now after this new estimate to being largely measured class. The new mineral resource estimate for the Minto North deposit, using a 0.5% copper cut-off, is tabulated below. Actual cut-offs used for mineral reserve estimation may vary from this cut-off and will be determined as part of the on-going pre-feasibility study.
Mineral Resources by Class for the Minto North Deposit (at a 0.5% copper cut-off) -------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) 1,844 2.15 1.11 7.7 87,530 66 456 ------------------------------------------------------------------------- Indicated (I) 264 1.04 0.60 5.8 6,055 5 49 ------------------------------------------------------------------------- Sub-total (M+I)(xx) 2,108 2.01 1.04 7.5 93,585 71 505 ------------------------------------------------------------------------- Additional Inferred 25 0.84 0.40 4.35 457 0 3 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding
Mr. Garth Kirkham, P.Geo. of Kirkham Geosystems Ltd. ("KGL") estimated the mineral resources at Minto North in April, 2009. It was completed in MineSight(R) using a 3 dimensional block model (10m by 10m by 3m (vertical) block size). The mineralization was interpreted into 6 different domains, wireframes were created and geostatistical analysis was completed on the assay and 1.5m composite data for each of the metals.
Minto East Deposit
The Minto East deposit is a new discovery made in late 2009 and comprises moderately deep, higher grade copper-gold mineralization. This is the first mineral resource estimate for the Minto East deposit but a substantial program of infill drilling is still underway and a new mineral resource estimate is planned for later in 2010. Using a 0.5% copper cut-off this preliminary estimate is tabulated below.
Mineral Resources by Class for the Minto East Deposit (at a 0.5% copper cut-off) -------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) - - - - - - - ------------------------------------------------------------------------- Indicated (I) 736 2.35 0.99 6.2 38,119 23 148 ------------------------------------------------------------------------- Sub-total (M+I) 736 2.35 0.99 6.2 38,119 23 148 ------------------------------------------------------------------------- Additional Inferred 588 1.73 0.81 5.6 22,380 15 105 ------------------------------------------------------------------------- (x) Rounded to nearest thousand
The mineral resource estimate at Minto East was completed in June, 2010. It was completed in MineSight(R) using a 3 dimensional block model (10m by 10m by 3m (vertical) block size). The mineralization was interpreted into one mineralized zone, wireframes were created and geostatistical analysis was completed on the assay and 1.5m composite data for each of the metals.
The mineral resource estimates for Minto East are quoted on the basis of a 0.5% copper cut-off in order to allow comparison to other deposits. However, the Minto East mineral resources are being contemplated for underground extraction as noted in prior disclosure, which would result in a significantly higher cut-off grade being used than that discussed herein. Until the results of the pre-feasibility study currently underway are available, it is not possible to determine the most appropriate cut-off grade for the Minto East deposit. However, as noted in a press release dated June 23, 2010, a cut-off grade in the range of 1.5% copper may be in the range to be used for determining mineral reserves. At a 1.5% copper cut-off grade, the Minto East mineral resource is as follows:
Minto - Mineral Resources by Class for the Minto East Deposit (at a 1.5% copper cut-off) -------------------------- ------------------------------------------------------------------------- Contained Contained Contained Tonnes Cu Gold Silver (000's) Copper Gold Silver (000's (000's (000's Classification (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- Measured (M) - - - - - - - ------------------------------------------------------------------------- Indicated (I) 541 2.88 1.16 7.1 34,358 20 123 ------------------------------------------------------------------------- Sub-total (M+I) 541 2.88 1.16 7.1 34,358 20 123 ------------------------------------------------------------------------- Additional Inferred 284 2.55 0.95 6.4 15,983 9 58 ------------------------------------------------------------------------- (x) Rounded to nearest thousand
Drilling is continuing at Minto East in order to upgrade the confidence level in these mineral resource estimates to the measured and indicated category, in order to support inclusion in the pre-feasibility study currently underway.
Maps
Please view the accompanying maps which illustrate the locations of these high grade copper-gold deposits, adjacent significant prospects and their relative position to the mill and infrastructure at the Minto Mine.
http://www.capstonemining.com/i/photos/minto/2010-35MintoDrillResultsUpda teMap.jpg
http://www.capstonemining.com/i/photos/minto/2010-35MintoDepositsAerialVi ew.jpg
(Due to the length of these URLs, it may be necessary to copy and paste the hyperlinks into your Internet browser's URL address field. Remove the space if one exists.)
Resource Estimation Methodology
SRK Consulting (Canada) Inc.: All mineral resources reported herein for Area 2, Area 118 and Ridgetop were estimated by SRK. Marek Nowak (P. Eng.), and Wayne Barnett (Pr.Sci.Nat.) of SRK are the Independent Qualified Persons under National Instrument 43-101 responsible for the mineral resource estimates.
The resource estimates for Area 2, Area 118 and Ridgetop were based on revised geological models. The revision of the models was undertaken by SRK using historical and newly completed geological drilling logs and assay sample results for each of the deposits. All geological models and estimations were undertaken using the Gemcom Software GEMS(C). A total of 235 drill holes were used to construct the geology and estimate the resource for the combined volume of Area 2 and Area 118. The Ridgetop model was constructed from 163 drill holes. The geology is similar for all deposits, with mineralization concentrated in shallow dipping zones of foliated granodiorite along which grade continuity can be demonstrated. Each deposit has between seven and nine such ore zones. The grades were estimated for each ore zone separately, with independently derived kriging parameters. The estimated block model for each deposit consists of 10m by 10m by 3m block sizes. Resource classification categories were designed from continuity of the mineralization and sample density. The open pit mineral resources are reported within a Whittle shell designed from an NSR model and based on optimistic parameters.
Kirkham Geoystems Ltd: All mineral resources reported herein for Minto North were estimated by Kirkham Geosystems. Garth Kirkham (P. Geo.) is the Independent Qualified Person under National Instrument 43-101 responsible for the Minto North mineral resource estimate. The Minto North Deposit was constructed using 30 drillholes resulting in 3 relatively flat lying mineralized zones (i.e. 115, 120 and 130 zones) and 3 small splayed zones. The grades were estimated for each zone separately with independently derived kriging parameters. The estimated block model consisted of 10 x 10 x 3 m block sizes using 1.5m composites. Resource classification categories were designed from continuity of the mineralization and sample density.
Quality Assurance
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President of Capstone Mining Corp. The exploration activities at the Minto project site are carried out under the supervision of Brad Mercer, P. Geol., V.P. Exploration of Capstone.
The analytical method for the copper and silver analyses is aqua regia digestion of the samples followed by atomic absorption spectroscopy. Gold is analysed by fire assay fusion with atomic absorption spectroscopy finish for gold. Analyses are carried out by ALS CHEMEX in North Vancouver. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and screen metallic assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database for mineral resource calculations. Blank and standard samples are used for quality assurance and quality control. Where more than two check samples assay outside expected ranges, the entire batch is re-assayed. After the completion of planned drill programs at Minto, random check assays will be carried out by Inspectorate-IPL of Vancouver.
Forward-Looking Statements
This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements.
Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in the Company's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at http://www.sedar.com/. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements.
Minto - Area 2/118 Deposit - Mineral Resources by Class at Select Copper Cut-offs ---------------------- ------------------------------------------------------------------------- Con- Con- Con- tained tained tained Cut- Tonnes Copper Gold Silver Classifi- Off (000's) Copper Gold Silver (000's (000's (000's cation (Cu%) (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- (greater Measured than) (M) 2.0 1,126.7 2.60 1.17 9.58 64,466 42.3 346.9 ------------------------------------------------------------------------- (greater than) 1.5 2,231.6 2.18 0.93 7.76 107,010 66.8 557.0 ------------------------------------------------------------------------- (greater than) 1.0 3,684.4 1.80 0.74 6.32 146,524 87.5 749.0 ------------------------------------------------------------------------- (greater than) 0.5 7,043.1 1.28 0.49 4.40 198,344 110.0 995.7 ------------------------------------------------------------------------- (greater than) 0.4 8,394.4 1.14 0.42 3.91 211,706 114.5 1,056.2 ------------------------------------------------------------------------- (greater than) 0.3 10,102.9 1.01 0.36 3.42 224,803 118.4 1,111.3 ------------------------------------------------------------------------- (greater than) 0.2 12,811.4 0.85 0.30 2.85 239,560 122.5 1,174.6 ------------------------------------------------------------------------- (greater than) 0.1 17,500.2 0.66 0.22 2.20 254,459 125.9 1,237.7 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Indi- (greater cated than) (I) 2.0 770.8 2.66 0.98 10.67 45,200 24.4 264.4 ------------------------------------------------------------------------- (greater than) 1.5 2,064.7 2.07 0.74 7.99 94,127 49.4 530.3 ------------------------------------------------------------------------- (greater than) 1.0 5,283.7 1.54 0.55 5.87 179,582 93.7 996.5 ------------------------------------------------------------------------- (greater than) 0.5 19,411.4 0.92 0.30 3.32 393,939 185.5 2,070.6 ------------------------------------------------------------------------- (greater than) 0.4 26,945.9 0.79 0.24 2.82 468,165 211.7 2,443.9 ------------------------------------------------------------------------- (greater than) 0.3 37,108.0 0.67 0.20 2.38 546,269 237.4 2,842.7 ------------------------------------------------------------------------- (greater than) 0.2 50,159.6 0.56 0.16 1.99 617,201 258.1 3,216.2 ------------------------------------------------------------------------- (greater than) 0.1 70,984.2 0.44 0.12 1.58 683,436 276.6 3,596.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sub- total (greater (M+I) than) (xx) 2.0 1,897.5 2.62 1.09 10.02 109,666 66.7 611.3 ------------------------------------------------------------------------- (greater than) 1.5 4,296.3 2.12 0.84 7.87 201,137 116.2 1,087.3 ------------------------------------------------------------------------- (greater than) 1.0 8,968.1 1.65 0.63 6.05 326,106 181.2 1,745.4 ------------------------------------------------------------------------- (greater than) 0.5 26,454.5 1.02 0.35 3.61 592,283 295.5 3,066.3 ------------------------------------------------------------------------- (greater than) 0.4 35,340.3 0.87 0.29 3.08 679,870 326.1 3,500.1 ------------------------------------------------------------------------- (greater than) 0.3 47,210.9 0.74 0.23 2.60 771,073 355.8 3,954.0 ------------------------------------------------------------------------- (greater than) 0.2 62,971.0 0.62 0.19 2.17 856,761 380.6 4,390.8 ------------------------------------------------------------------------- (greater than) 0.1 88,484.4 0.48 0.14 1.70 937,895 402.5 4,833.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Addi- (greater tional than) Inferred 2.0 17.2 2.20 0.89 9.03 833 0.5 5.0 ------------------------------------------------------------------------- (greater than) 1.5 421.2 1.68 0.69 6.70 15,642 9.4 90.8 ------------------------------------------------------------------------- (greater than) 1.0 1,262.6 1.41 0.58 5.48 39,181 23.7 222.3 ------------------------------------------------------------------------- (greater than) 0.5 5,573.4 0.83 0.26 2.89 101,519 46.6 518.4 ------------------------------------------------------------------------- (greater than) 0.4 8,347.0 0.70 0.20 2.43 128,837 54.4 652.6 ------------------------------------------------------------------------- (greater than) 0.3 12,591.0 0.58 0.15 1.98 161,555 61.6 801.7 ------------------------------------------------------------------------- (greater than) 0.2 17,024.5 0.49 0.12 1.69 185,723 67.9 926.6 ------------------------------------------------------------------------- (greater than) 0.1 23,500.0 0.40 0.10 1.38 206,424 72.6 1,045.4 ------------------------------------------------------------------------- (x )Rounded to nearest thousand (xx)Totals may not add exactly due to rounding Minto - Ridgetop Deposit - Mineral Resources by Class at Select Copper Cut-offs ---------------------- ------------------------------------------------------------------------- Con- Con- Con- tained tained tained Cut- Tonnes Copper Gold Silver Classifi- Off (000's) Copper Gold Silver (000's (000's (000's cation (Cu%) (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- (greater Measured than) (M) 2.0 55.2 2.36 0.69 4.40 2,874 1.2 7.8 ------------------------------------------------------------------------- (greater than) 1.5 186.8 1.90 0.54 3.66 7,816 3.3 22.0 ------------------------------------------------------------------------- (greater than) 1.0 555.1 1.45 0.39 2.91 17,731 7.0 52.0 ------------------------------------------------------------------------- (greater than) 0.5 1,530.5 0.98 0.25 2.14 33,204 12.3 105.1 ------------------------------------------------------------------------- (greater than) 0.4 1,821.4 0.90 0.22 1.97 36,083 13.1 115.6 ------------------------------------------------------------------------- (greater than) 0.3 2,149.6 0.81 0.20 1.80 38,607 13.7 124.4 ------------------------------------------------------------------------- (greater than) 0.2 2,472.4 0.74 0.18 1.66 40,381 14.2 131.9 ------------------------------------------------------------------------- (greater than) 0.1 2,836.4 0.67 0.16 1.51 41,588 14.6 137.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Indi- (greater cated than) (I) 2.0 114.4 2.53 1.66 12.35 6,380 6.1 45.4 ------------------------------------------------------------------------- (greater than) 1.5 324.2 1.99 1.07 8.41 14,235 11.2 87.6 ------------------------------------------------------------------------- (greater than) 1.0 841.2 1.51 0.68 5.70 28,055 18.5 154.2 ------------------------------------------------------------------------- (greater than) 0.5 3,533.5 0.87 0.30 2.87 67,901 33.8 325.6 ------------------------------------------------------------------------- (greater than) 0.4 4,964.6 0.75 0.24 2.41 82,039 38.4 384.1 ------------------------------------------------------------------------- (greater than) 0.3 6,904.7 0.64 0.19 2.00 96,892 42.7 445.1 ------------------------------------------------------------------------- (greater than) 0.2 9,896.1 0.52 0.15 1.62 113,142 46.9 514.2 ------------------------------------------------------------------------- (greater than) 0.1 13,014.8 0.43 0.12 1.34 123,595 49.9 562.0 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sub- total (greater (M+I) than) (xx) 2.0 169.5 2.48 1.35 9.76 9,254 7.3 53.2 ------------------------------------------------------------------------- (greater than) 1.5 511.1 1.96 0.88 6.67 22,051 14.4 109.6 ------------------------------------------------------------------------- (greater than) 1.0 1,396.3 1.49 0.57 4.59 45,786 25.5 206.2 ------------------------------------------------------------------------- (greater than) 0.5 5,064.0 0.91 0.28 2.65 101,104 46.2 430.7 ------------------------------------------------------------------------- (greater than) 0.4 6,786.0 0.79 0.24 2.29 118,122 51.6 499.7 ------------------------------------------------------------------------- (greater than) 0.3 9,054.3 0.68 0.19 1.96 135,499 56.4 569.5 ------------------------------------------------------------------------- (greater than) 0.2 12,368.5 0.56 0.15 1.62 153,523 61.0 646.0 ------------------------------------------------------------------------- (greater than) 0.1 15,851.3 0.47 0.13 1.37 165,183 64.5 699.6 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Addi- (greater tional than) Inferred 2.0 0.0 0.00 0.00 0.00 0 0.0 0.0 ------------------------------------------------------------------------- (greater than) 1.5 3.7 1.60 0.17 3.59 130 0.0 0.4 ------------------------------------------------------------------------- (greater than) 1.0 49.9 1.22 0.07 1.00 1,338 0.1 1.6 ------------------------------------------------------------------------- (greater than) 0.5 318.0 0.75 0.13 1.57 5,250 1.3 16.0 ------------------------------------------------------------------------- (greater than) 0.4 446.1 0.66 0.12 1.45 6,523 1.7 20.9 ------------------------------------------------------------------------- (greater than) 0.3 597.1 0.58 0.10 1.29 7,695 2.0 24.7 ------------------------------------------------------------------------- (greater than) 0.2 798.2 0.50 0.09 1.12 8,769 2.2 28.8 ------------------------------------------------------------------------- (greater than) 0.1 1,056.6 0.42 0.07 0.95 9,667 2.4 32.1 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx)Totals may not add exactly due to rounding Minto - Minto North Deposit - Mineral Resources by Class at Select Copper Cut-offs ------------------------- ------------------------------------------------------------------------- Con- Con- Con- tained tained tained Cut- Tonnes Copper Gold Silver Classifi- Off (000's) Copper Gold Silver (000's (000's (000's cation (Cu%) (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- (greater Measured than) (M) 2.0 630 4.07 2.43 15.8 56,478 49 320 ------------------------------------------------------------------------- (greater than) 1.5 883 3.40 1.99 12.9 66,111 56 365 ------------------------------------------------------------------------- (greater than) 1.0 1,377 2.62 1.42 9.5 79,435 63 421 ------------------------------------------------------------------------- (greater than) 0.5 1,844 2.15 1.11 7.7 87,530 66 456 ------------------------------------------------------------------------- (greater than) 0.4 1,877 2.12 1.09 7.6 87,866 66 458 ------------------------------------------------------------------------- (greater than) 0.3 1,890 2.11 1.08 7.6 87,976 66 459 ------------------------------------------------------------------------- (greater than) 0.2 1,896 2.11 1.08 7.5 88,009 66 459 ------------------------------------------------------------------------- (greater than) 0.1 1,899 2.10 1.08 7.5 88,018 66 459 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Indi- (greater cated than) (I) 2.0 27 2.74 1.50 17.6 1,632 1 15 ------------------------------------------------------------------------- (greater than) 1.5 44 2.33 1.31 14.7 2,274 2 21 ------------------------------------------------------------------------- (greater than) 1.0 87 1.78 1.02 10.5 3,398 3 29 ------------------------------------------------------------------------- (greater than) 0.5 264 1.04 0.60 5.8 6,055 5 49 ------------------------------------------------------------------------- (greater than) 0.4 333 0.92 0.53 5.1 6,750 6 54 ------------------------------------------------------------------------- (greater than) 0.3 435 0.78 0.46 4.3 7,527 6 60 ------------------------------------------------------------------------- (greater than) 0.2 662 0.60 0.35 3.2 8,745 7 69 ------------------------------------------------------------------------- (greater than) 0.1 1,053 0.43 0.25 2.3 10,043 8 79 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sub- total (greater (M+I) than) (xx) 2.0 657 4.01 2.39 15.9 58,109 50 335 ------------------------------------------------------------------------- (greater than) 1.5 926 3.35 1.96 13.0 68,385 58 386 ------------------------------------------------------------------------- (greater than) 1.0 1,463 2.57 1.40 9.6 82,833 66 450 ------------------------------------------------------------------------- (greater than) 0.5 2,108 2.01 1.04 7.5 93,585 71 505 ------------------------------------------------------------------------- (greater than) 0.4 2,209 1.94 1.01 7.2 94,616 71 512 ------------------------------------------------------------------------- (greater than) 0.3 2,326 1.86 0.97 6.9 95,503 72 519 ------------------------------------------------------------------------- (greater than) 0.2 2,559 1.72 0.89 6.4 96,754 73 528 ------------------------------------------------------------------------- (greater than) 0.1 2,951 1.51 0.78 5.7 98,061 74 538 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Addi- (greater tional than) Inferred 2.0 1 2.01 1.10 13.0 36 0 0 ------------------------------------------------------------------------- (greater than) 1.5 3 1.82 1.01 11.6 119 0 1 ------------------------------------------------------------------------- (greater than) 1.0 5 1.53 0.71 8.7 176 0 1 ------------------------------------------------------------------------- (greater than) 0.5 25 0.84 0.40 4.4 457 0 3 ------------------------------------------------------------------------- (greater than) 0.4 46 0.66 0.32 3.3 665 0 5 ------------------------------------------------------------------------- (greater than) 0.3 82 0.52 0.25 2.6 939 1 7 ------------------------------------------------------------------------- (greater than) 0.2 157 0.39 0.20 2.0 1,361 1 10 ------------------------------------------------------------------------- (greater than) 0.1 253 0.30 0.15 1.5 1,675 1 13 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding Minto - Minto East Deposit - Mineral Resources by Class at Select Copper Cut-offs ------------------------- ------------------------------------------------------------------------- Con- Con- Con- tained tained tained Cut- Tonnes Copper Gold Silver Classifi- Off (000's) Copper Gold Silver (000's (000's (000's cation (Cu%) (x) (%) (g/t) (g/t) lbs)(x) oz)(x) oz)(x) ------------------------------------------------------------------------- (greater Measured than) (M) 2.0 - - - - - - - ------------------------------------------------------------------------- (greater than) 1.5 - - - - - - - ------------------------------------------------------------------------- (greater than) 1.0 - - - - - - - ------------------------------------------------------------------------- (greater than) 0.5 - - - - - - - ------------------------------------------------------------------------- (greater than) 0.4 - - - - - - - ------------------------------------------------------------------------- (greater than) 0.3 - - - - - - - ------------------------------------------------------------------------- (greater than) 0.2 - - - - - - - ------------------------------------------------------------------------- (greater than) 0.1 - - - - - - - ------------------------------------------------------------------------- ------------------------------------------------------------------------- Indi- (greater cated than) (I) 2.0 499 2.97 1.20 7.2 32,733 19 116 ------------------------------------------------------------------------- (greater than) 1.5 541 2.88 1.16 7.1 34,358 20 123 ------------------------------------------------------------------------- (greater than) 1.0 602 2.71 1.11 6.8 36,025 22 132 ------------------------------------------------------------------------- (greater than) 0.5 736 2.35 0.99 6.2 38,119 23 148 ------------------------------------------------------------------------- (greater than) 0.4 766 2.28 0.96 6.1 38,413 24 150 ------------------------------------------------------------------------- (greater than) 0.3 812 2.17 0.93 5.9 38,765 24 154 ------------------------------------------------------------------------- (greater than) 0.2 892 1.99 0.86 5.6 39,192 25 159 ------------------------------------------------------------------------- (greater than) 0.1 958 1.87 0.82 5.3 39,411 25 163 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sub- total (greater (M+I) than) (xx) 2.0 499 2.97 1.20 7.2 32,733 19 116 ------------------------------------------------------------------------- (greater than) 1.5 541 2.88 1.16 7.1 34,358 20 123 ------------------------------------------------------------------------- (greater than) 1.0 602 2.71 1.11 6.8 36,025 22 132 ------------------------------------------------------------------------- (greater than) 0.5 736 2.35 0.99 6.2 38,119 23 148 ------------------------------------------------------------------------- (greater than) 0.4 766 2.28 0.96 6.1 38,413 24 150 ------------------------------------------------------------------------- (greater than) 0.3 812 2.17 0.93 5.9 38,765 24 154 ------------------------------------------------------------------------- (greater than) 0.2 892 1.99 0.86 5.6 39,192 25 159 ------------------------------------------------------------------------- (greater than) 0.1 958 1.87 0.82 5.3 39,411 25 163 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Addi- (greater tional than) Inferred 2.0 202 2.89 0.97 6.6 12,853 6 43 ------------------------------------------------------------------------- (greater than) 1.5 284 2.55 0.95 6.4 15,983 9 58 ------------------------------------------------------------------------- (greater than) 1.0 419 2.14 0.90 6.1 19,774 12 82 ------------------------------------------------------------------------- (greater than) 0.5 588 1.73 0.81 5.6 22,380 15 105 ------------------------------------------------------------------------- (greater than) 0.4 636 1.63 0.78 5.4 22,842 16 111 ------------------------------------------------------------------------- (greater than) 0.3 714 1.49 0.74 5.2 23,437 17 119 ------------------------------------------------------------------------- (greater than) 0.2 804 1.35 0.69 4.9 23,930 18 126 ------------------------------------------------------------------------- (greater than) 0.1 830 1.31 0.68 4.8 24,025 18 128 ------------------------------------------------------------------------- (x) Rounded to nearest thousand (xx) Totals may not add exactly due to rounding
For further information: Darren Pylot, Vice Chairman & CEO, Stephen Quin, President Or Investor Relations' Zobeida Slogan at +1-604-684-8894 or +1-866-684-8894 or e-mail Capstone at info@capstonemining.com
Capstone Mining Corp.
CONTACT: For further information: Darren Pylot, Vice Chairman & CEO,
Stephen Quin, President Or Investor Relations' Zobeida Slogan at
+1-604-684-8894 or +1-866-684-8894 or e-mail Capstone at
info@capstonemining.com
