Capstone Mining Corp. (“Capstone” or the “Company”) (TSX:CS) announces that Mr. Richard N. Zimmer has retired from the Board of Directors of the Company effective August 17, 2021.

Prior to Capstone, Mr. Zimmer was Chief Executive Officer of Far West Mining Ltd. (“Far West”), the previous owner and operator of the Santo Domingo project. He joined the Company’s Board of Directors in 2011 following Capstone’s acquisition of Far West. At Capstone, Mr. Zimmer served as the Chair of the Technical, Health, Environmental, Safety and Sustainability Committee from June 2011 until April 2019, and most recently served as Chair of the Corporate Governance & Nominating Committee.

Darren Pylot, President & CEO commented, “Rick was instrumental in the integration and advancement of the Santo Domingo project and contributed his invaluable expertise to our Board through the years. We thank him for his significant contributions and dedication to Capstone over his ten years of service on our Board.”

ABOUT CAPSTONE MINING CORP.

Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. We are committed to the responsible development of our assets and the environments in which we operate. Our two producing mines are the Pinto Valley copper mine located in Arizona, US and the Cozamin copper-silver mine in Zacatecas State, Mexico. In addition, Capstone owns 100% of Santo Domingo, a large scale, fully permitted, copper-iron-gold project in Region III, Chile, as well as a portfolio of exploration properties. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Further information is available at www.capstonemining.com.

Jerrold Annett, SVP, Strategy and Capital Markets 647-273-7351 jannett@capstonemining.com

Kettina Cordero, Director, Investor Relations & Communications 604-262-9794 kcordero@capstonemining.com

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