Capstone Mining 2016 Financial Results

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Vancouver, British Columbia – Capstone Mining Corp. (“Capstone” or the “Company”) (TSX: CS) today announced its financial results for the three months and year ended December 31, 2016. For the three months ended December 31, 2016, operating cash flow before changes in working capital1 was $75.0 million or $0.20 per share, with a net loss of $182.4 million and adjusted net income of $30.7 million or $0.08 per share after adjusting for certain non-cash and non-recurring charges. Copper production totalled 29,900 tonnes (28,800 tonnes of payable copper) at a C1 cash cost1 of $1.26 per payable pound produced with copper sales of 29,600 tonnes at a C1 cash cost1 of $1.24 per payable pound sold. For the full year ended December 31, 2016, operating cash flow before changes in working capital1 was $156.9 million or $0.41 per share, with a net loss of $197.4 million and adjusted net income of $29.4 million or $0.08 per share after adjusting for certain non-cash and non-recurring charges. Copper production totalled 114,600 tonnes (110,700 tonnes of payable copper) at a C1 cash cost1 of $1.44 per payable pound produced with copper sales of 110,500 tonnes at a C1 cash cost1 of $1.53 per payable pound sold.

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