Capstone Mining and Mantos Copper Combine to Create Capstone Copper, a Premier Copper Producer With Transformational Near-Term Growth

Vancouver, British Columbia – Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) and Mantos Copper (Bermuda) Limited (“Mantos”) are pleased to announce that they have entered into a definitive agreement (the “Agreement”) to combine pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the “Transaction”). Upon completion of the Transaction, Mantos will be renamed Capstone Copper Corp. (“Capstone Copper”), and will remain headquartered in Vancouver, B.C. Capstone Copper will apply to the Toronto Stock Exchange to list the Capstone Copper shares on the Toronto Stock Exchange. Pursuant to the Agreement, each Capstone shareholder will receive 1 newly issued Capstone Copper share per Capstone share (the “Exchange Ratio”) and the existing Mantos shareholders will continue to hold Capstone Copper shares. Upon completion of the Transaction, former Capstone and Mantos shareholders will collectively own 60.75% and 39.25% of Capstone Copper, respectively, on a fully-diluted share basis.

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