Day: July 26, 2016

Capstone Mining Corp. today announced its financial results for the three and six months ended June 30, 2016. Operating cash flow before changes in working capital was $21.6 million or $0.06 per share, with a net loss of $13.4 million and an adjusted net loss of $7.5 million after adjusting for certain non-cash and non-recurring charges. Copper production for the quarter totalled 28,157 tonnes (27,200 tonnes of payable copper) at a C1 cash cost of $1.51 per payable pound produced with copper sales for the quarter of 22,549 tonnes at a C1 cash cost of $1.66 per payable pound sold.

“After visiting the El Colomo Property and analyzing the Company’s current drill program in progress, I am very excited to be an addition to the already strong technical team that has been assembled and is exploring the El Colomo Gold-Silver Project. I look forward to working with Rafael Gallardo and the Cascabel team in moving this exciting project forward,” said David Hladky.

The Company intends to use the net proceeds of the Offering to fund accelerated exploration at the Company’s Platosa Project, for capital expenditures at the Platosa Mine and Miguel Auza Mill, for working capital expenses and for general corporate purposes. For additional details regarding the use of proceeds of the Offering, please see the Company’s short form prospectus dated July 19, 2016 that is available under the Corporation’s profile on SEDAR at www.sedar.com.