President and CEO: Darren Pylot
Senior Vice President and COO: Gregg B. Bush, B.Sc. (Metallurgical Eng.)
Vice President, Exploration: Brad Mercer, P. Geol.
Capstone Mining Corp. is focused on operating, expanding and exploring its assets, including mines or mine projects in Yukon Territory, British Columbia, Mexico and Chile. The Minto copper-gold-silver mine in central Yukon Territory and the high-grade Kutcho copper-zinc-gold-silver deposit in northwestern British Columbia are Capstone’s only northern Canada properties. In May, the company added 219 million pounds of copper, nearly 108,000 ounces gold and 976,000 ounces silver to measured and indicated resources at Minto, bringing total measured and indicated resources outside the Main pit at Minto to 1.16 billion pounds copper, 553,000 ounces gold and 5.2 million ounces silver at a 0.5 percent copper cut-off grade. Capstone completed its 2012 exploration program at Minto on budget at C$4.8 million, drilling 10,802 meters during the three months ended June 30 and bringing year-to-date total drilling to 29,539 meters, which was 6,039 meters more than planned due to higher than expected productivity. The program initially focused on in-fill drilling the relatively shallow gap between the MSD and the Ridgetop deposits. After that, Capstone followed up on exploration at Fireweed and on the potential for further high-grade mineralization at depth in the Minto system. The company decided to further infill the Fireweed prospect in preparation for the first mineral resource estimate on that prospect expected in 2012. Kutcho currently has 10.44 million metric tons of probable reserves grading 2.01 percent copper, 3.19 percent zinc, 34.61 grams per metric ton silver and 0.37 g/t gold as well as 11.28 million metric tons of measured and indicated resources averaging 2.19 percent copper, 3.28 percent zinc, 36.7 g/t silver and 0.39 g/t gold and 1.09 million metric tons of inferred resources averaging 1.74 percent copper, 2.04 percent zinc, 30.7 g/t silver and 0.35 g/t gold at a 1.5 percent copper cut-off grade. With a 2011 pre-feasibility study in hand at the Kutcho project, Capstone subsidiary Kutcho Copper Corp. moved in 2012 towards submission of an environmental assessment certificate application and beginning discussions with First Nations and other stakeholders. Should the permitting process, First Nations discussions and detailed engineering attain corporate objectives in a timely fashion, Capstone said it is feasible that a production decision could be made for Kutcho in the fourth quarter of 2012, and assuming a positive decision, this could enable construction to begin in the second half of 2013.
Cash and short-term deposits: C$489.3 million (at June 30, 2012)
Working capital: C$543.0 million (at June 30, 2012)
Market capitalization: C$975.92 million (Sept. 9, 2012)
9th floor, 999 West Hastings Street
Vancouver, BC Canada V6C 2W2
Tel: 604 637-8155 • Fax: 604 688-2180