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Capstone Upgrades Copper Mineral Resource Classification In Footwall Zone At Cozamin Mine

Stocks in this article: CS

Mineral Resource Estimate by Class for all Copper Deposits, Dec. 31, 2012, at a US$35 NSR COG*

                                             Contained Contained Contained
                  Tonnes  Copper Silver Zinc  Copper    Silver     Zinc
                  (000's)  (%)   (g/t)   (%)  (M lbs)   (M oz)    (M lbs)
    Measured (M)   3,780   1.63   65.4  1.42   135.6      8.0      118.6
    Indicated (I)  9,120   1.42   43.2  1.07   285.1     12.7      216.0
    Total M&I     12,910   1.48   49.7  1.18   421.1     20.6      334.7
    Inferred       3,360   1.39   35.7  0.90   102.8      3.9       67.0

* Metal Price assumptions (in USD) used to calculate the NSR COG for all deposits are: Cu= $2.50; Zn= $0.80; Ag= $20.00.

Processing recoveries used to calculate the NSR COG for the MNFWZ Resource are: Cu=92%; Zn=69%; Ag=72%

Processing recoveries used to calculate the NSR COG for the San Roberto Resource are: Cu=92%; Zn=69%; Ag=62%. Totals may not sum exactly due to rounding.

The foregoing tables represent the Mala Noche Vein and MNFWZ copper zones only, and do not include the San Rafael zone, which is predominately a zinc zone.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. Even though mining has been undertaken in areas of the MNFWZ with Proven and Probable class mineral reserves there is no certainty that Inferred mineral resources will be converted to Measured and Indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

Mineral Resource Estimate Methodology

The mineral resource estimate for the MNFWZ reported herein was prepared by independent consultant Ali Shahkar P.Eng., Principal Consultant with Lions Gate Geological Consulting Inc. ("LGGC") located in Sechelt, BC, Canada. The estimate was completed using GEMS© software using a three dimensional block model (10 metre by 5 metre by 3 metre block size). The MNFWZ model is comprised of three interpreted three-dimensional wireframes, a background domain which encompasses the overall MNFWZ structure and two veins which occur close to the hanging-wall and foot-wall of the background domain. The two vein wireframes were used as hard boundaries to constrain the interpolation of grades into the block model. Interpolation parameters have been derived based on geostatistical analysis conducted on 0.5 metre composited drill hole and channel sample data.  Block grades have been estimated using Ordinary Kriging (OK) method and the mineral resources have been classified based on proximity to sample data and the continuity of mineralization in accordance with CIM best practices. The MNFWZ resource has been estimated using a total of 173 diamond drill holes (2324 composites) and 3277 channel sample composites.

About Capstone Mining Corp.

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