Capstone Mining Corp.

Capstone Mining Corp.

October 15, 2007 18:45 ET

Capstone Increases Resources to 8.6 Million Tonnes at the Cozamin Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - Capstone Mining Corp. (TSX:CS) -


- An updated resource estimate has been completed for the Cozamin mine, as of August 31st, 2007.

- At a 1% cut-off grade:

- The resource update yields a 47% increase in tonnage with a 51% increase in contained copper and 54% in contained silver.

- The Measured and Indicated categories increase to 5.5 million tonnes containing 287 million pounds of copper, 131 million pounds of zinc, 47 million pounds of lead and 15.2 million ounces of silver.

- The Inferred category increases to 3.1 million tonnes containing 170 million pounds of copper, 80 million pounds of zinc, 16 million pounds of lead and 8.7 million ounces of silver.

- The resource reflects the tonnes mined as of August 31, 2007.


This new resource estimate significantly increases both the tonnage and contained metal within all of the resource categories, while maintaining its high grade. The following table shows the break down of resources at a 1% copper cut-off.

Tonnes Million
Resource (1% Cu Cu Ag Zn Pb Au Million lbs(i) ozs(i)
Category Cut-off) (%) (g/t) (%) (%) (g/t) Cu Zn Pb Ag
Measured 2,900,000 2.34 85.85 1.09 0.47 0.04 149.6 69.7 30.1 8.0
Indicated 2,585,000 2.41 86.92 1.07 0.30 0.04 137.4 61.0 17.1 7.2
Measured &
Indicated 5,485,000 2.36 86.04 1.08 0.39 0.04 287.0 130.6 47.2 15.2
Inferred 3,124,000 2.47 86.37 1.16 0.23 0.04 170.2 79.9 15.9 8.7
Note: (i) 1 kilogram equals 2.2 lbs.; 31.103 grams equals 1 oz. Troy

This new resource estimate has been completed by qualified person Michelle Stone, P.Geo., Ph.D., of Capstone Mining Corp., Vancouver, B.C. This estimate is based on an updated 3D geologic model integrating an additional 26,266 metres of diamond drilling including 5,828 assays from 5 surface and 70 underground NQ-core drill holes and 6,954 underground chip channel samples collected in 2006 and 2007. These data augmented the 25,325 meters of drilling in 37 surface and 66 underground core holes and 1,103 underground chip channels samples used in the 2006 resource estimate. Grades for the model were estimated using the inverse distance squared (ID2) method from 2 metre composited intervals within the copper sulphide zone, and the mineralized hangingwall and footwall.

Resource tables and drill intercepts locations related to the above totals for the updated Cozamin resource estimate will be available on the Company's website

A technical report on the Cozamin Mine Project will be filed with SEDAR within 45 days.

The Company has already commenced a program of underground infill drilling to upgrade the inferred resources. In addition, the Company plans to undertake both surface and underground drilling in 2008 to explore along strike and down dip of the updated resources.

Hugh Willson, Vice President of Exploration for Capstone and a qualified person under NI 43-101, has reviewed the contents of this news release.


Capstone is a Canadian based mining company currently operating the 100% owned Cozamin copper-silver-lead-zinc mine located in Zacatecas State, Mexico. Capstone has approximately 81.7 million shares outstanding and is well financed with no bank debt. More information is available online at:

This press release contains "forward-looking information" that is based on Capstone's current expectations, estimates, forecasts and projections. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Capstone's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: projected sales or production rates; uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Capstone disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information