Capstone Mining Corp.
TSX : CS

Capstone Mining Corp.

March 22, 2007 07:00 ET

Capstone Cuts 14.3m Grading 3.6% Copper and 53.9 g/t Silver at its Cozamin Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2007) - Capstone Mining Corp. ("Capstone") (TSX:CS) is pleased to announce that the ongoing Phase V underground definition drilling program has cut very significant mineralization both within and outside the existing resource base at its producing Cozamin Mine, Zacatecas, Mexico.

Highlights

CG-06-U120: 14.30 m grading 3.6% copper and 53.9 g/t silver.

CG-06-U121: 3.79 m grading 3.9% copper and 105.0 g/t silver.

CG-06-U124: 3.18 m grading 3.8% copper and 125.8 g/t silver.

CG-06-U125: 3.63 m grading 3.2% copper and 140.1 g/t silver.

CG-06-U127: 3.60 m grading 5.6% copper and 82.1 g/t silver.

CG-06-U129: 3.77 m grading 2.6% copper and 98.6 g/t silver.



---------------------------------------------------------------------------
(i)
INTER- True (ii)
NQ CORE FROM TO VAL Width Silver Copper Zinc Lead Current
HOLE # (m) (m) (m) (m) g/t % % % Category
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CG-06-U117 56.50 58.75 2.25 1.60 78.1 1.7 3.1 0.07 New
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CG-06-U118 412.50 416.30 3.80 2.33 60.4 1.6 2.2 0.03 New
---------------------------------------------------------------------------
CG-06-U119 392.00 395.75 3.75 1.71 27.3 2.1 0.5 0.01 New
---------------------------------------------------------------------------
CG-06-U120 310.50 329.50 19.00 14.30 53.9 3.6 0.6 0.04 Inferred
---------------------------------------------------------------------------
CG-06-U121 317.50 323.00 5.50 3.79 105.0 3.9 3.1 0.34 Inferred
---------------------------------------------------------------------------
CG-06-U122 409.00 417.00 8.00 2.80 53.9 3.8 0.1 0.01 Indicated
---------------------------------------------------------------------------
CG-06-U123 390.15 393.00 2.85 1.23 56.1 2.8 0.3 0.01 New
---------------------------------------------------------------------------
CG-06-U124 304.20 309.50 5.30 3.18 125.8 3.8 3.4 0.22 Inferred
---------------------------------------------------------------------------
CG-06-U125 288.75 294.00 5.25 3.63 140.1 3.2 2.9 0.37 Indicated
---------------------------------------------------------------------------
CG-07-U126 201.00 203.80 2.80 2.35 32.2 1.2 0.5 0.07 Indicated
---------------------------------------------------------------------------
CG-07-U127 249.50 253.85 4.35 3.60 82.1 5.6 1.3 0.03 Indicated
---------------------------------------------------------------------------
CG-07-U129 286.00 294.50 8.50 6.40 66.3 1.7 3.4 0.09 Inferred
---------------------------------------------------------------------------
INCLUDING 286.00 291.00 5.00 3.77 98.6 2.6 3.3 0.11
---------------------------------------------------------------------------
CG-06-38 768.75 773.50 4.75 3.88 53.5 1.4 0.1 0.03 New
---------------------------------------------------------------------------

(i) True widths are estimated by correcting for the strike and dip of the
vein with regard to the bearing and inclination of the hole.

(ii) Current Category refers to the resource classification at the drill
intercept prior to drilling the hole. "New" indicates the intercept is
in an area with no current resources.

Please refer to Capstone's website (www.capstonemining.com) for the
longitudinal sections displaying the intercepts and resource
categories.

Drill holes CG-06-U115, U116, CG-07-U128, U130 and CG-06-39 contained only
anomalous values.


These data indicate that Capstone will be able to increase all resource categories at Cozamin in concert with the current construction program that is planned to more than double daily production from the mine and plant by the end of the third quarter of 2007.

In the current Phase V underground drill program, Capstone has drilled 33 NQ core holes totaling 11,000 m. An additional 10,000 m in about 40 holes are planned for this underground program. Fourteen of the drilled holes and about 18 of the remaining underground drill holes fall outside the limits of current resources at Cozamin. In addition, Capstone has completed 4 exploration holes totaling 4,000 m from surface. The fifth and final hole for this program is in progress. Additional results from these drill programs will be released during the next five months.

QA/QC Highlights

- Sample preparation was conducted by ALS Chemex in Hermosillo, Mexico and assays were completed in their Vancouver, Canada laboratory. Duplicate pulps, blanks and standards were sent to Chemex. Duplicate core samples were prepared by SGS in Durango and assayed in their Toronto, Canada laboratory.

- Hugh Willson, Vice President of Exploration for Capstone, a qualified person as defined by NI 43-101, supervised and directed all work associated with the drilling programs and this news release.

ABOUT CAPSTONE

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 80.8 million shares outstanding and is well financed with no bank debt. More information is available online at: www.capstonemining.com.

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