Mr. Alberto Orozco reports

CAPITAN SILVER ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Capitan Silver Corp. has released the results of its annual and special meeting of shareholders, which was held on June 23, 2023.

At the annual and special meeting of shareholders, 36,403,953 shares were voted, and the company received majority shareholder approval for the following:

1. To elect three directors for the ensuing year (see an attached table);
2. To appoint Davidson & Company LLP as auditor of the company for the ensuing year;
3. To ratify, confirm and approve the company's new 10-per-cent rolling stock option plan, as required under amended TSX Venture Exchange Policy 4.4.

Details of the matters approved at the meeting are set out in the company's information circular dated May 12, 2023, and available under the company's profile on SEDAR+.

About Capitan Silver Corp.

Capitan Silver is a well-financed junior exploration company focused on its 100-per-cent-owned Cruz de Plata gold-silver project in Durango, Mexico. The company is led by a management team that has successfully advanced and developed several heap-leach operations in Mexico over the past 16 years.