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Capstone Mining 2014 Operating And Capital Guidance

Stocks in this article: CS

VANCOUVER, British Columbia, January 16, 2014 /PRNewswire/ --

Guidance for Cozamin and Minto, Development Projects and Exploration

(All amounts in US$ unless otherwise specified)

Capstone Mining Corp. ("Capstone") (TSX: CS) today provided its production and capital expenditure guidance for 2014 for two of its three operating mines, Cozamin and Minto, and its development and exploration projects. Capstone expects to produce 38,500 tonnes (±5%) of copper in concentrates from Cozamin and Minto, slightly higher than 2013 production of 37,500 tonnes.

"The mine plans at Cozamin and Minto in 2014 call for a similar production level to last year," said Darren Pylot, President and CEO of Capstone. "Our focus for 2014 will be on cost efficiencies at all of our operations, including Pinto Valley, for which guidance will be provided before the end of the first quarter."

"On the development side, we are advancing the Santo Domingo Project under a stage-gate decision process, where we are continuing to move the project forward to each decision point. In 2014 we will advance the engineering and work towards the Environmental Impact Assessment approval by early 2015," continued Mr. Pylot.

2014 Production Guidance - Cozamin and Minto


                                                Cozamin         Minto        Total
    Tonnes milled (millions)                        1.2           1.4          2.6
    Copper grade (%)                               1.85          1.49         1.66
    Copper recovery (%)                            93.4          92.4         93.0

    Production (contained in concentrates)
    Copper (tonnes)                              20,000        18,500       38,500
    Zinc (tonnes)                                 9,000             -        9,000
    Lead (tonnes)                                 1,700             -        1,700
    Silver (million ounces)                         1.6           0.2          1.8
    Gold (ounces)                                     -        17,670       17,670

    C1 cash costs per pound of payable
    copper produced net of by-product
    credits and selling costs[(1)]         $1.30 -$1.40 $2.45 - $2.55  $1.85-$1.95

(1) This is an alternative performance measure; please see "Alternative Performance Measure" at the end of this release. C1 cash cost per pound is per pound of payable copper produced. All amounts in US$ unless otherwise specified.

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