Mr. Raman Randhawa reports

CAPSTONE COPPER EXPANDS REVOLVING CREDIT FACILITY TO $700 MILLION AND EXTENDS MATURITY TO SEPTEMBER 2027

Capstone Copper Corp. has amended its existing revolving credit facility to increase the aggregate commitments from $600-million to $700-million and extend the maturity from May, 2026, to September, 2027. The amended credit facility will bear interest on a sliding scale of adjusted-term SOFR (secured overnight financing rate) plus a margin of 2.000 per cent to 2.875 per cent.

The company's pro forma available liquidity position as of June 30, 2023, is approximately $520-million, including cash, cash equivalents and short-term investments of approximately $118-million and $402-million of undrawn availability under the amended credit facility.

"This represents a further step towards rightsizing our credit facility to support our growth pipeline, highlighted by our Mantoverde development project, which remains on time and on budget. We are pleased to have achieved competitive terms and an extended maturity to 2027," stated Raman Randhawa, chief financial officer.

The amended credit facility includes standard and customary terms and conditions with respect to fees, representations, warranties and financial covenants. Canadian Imperial Bank of Commerce acted as administrative agent, joint bookrunner and co-lead arranger. Bank of Nova Scotia and ING Bank acted as joint bookrunners and co-lead arrangers.

A copy of the amended credit facility agreement will be filed on SEDAR.

About Capstone Copper Corp.

Capstone Copper is an Americas focused copper mining company headquartered in Vancouver, Canada. The company owns and operates the Pinto Valley copper mine, located in Arizona, United States; the Cozamin copper-silver mine, located in Zacatecas, Mexico; the Mantos Blancos copper-silver mine, located in the Antofagasta region in Chile; and 70 per cent of the Mantoverde copper-gold mine, located in the Atacama region in Chile. In addition, the company owns the fully permitted Santo Domingo copper-iron-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region in Chile, as well as a portfolio of exploration properties in the Americas.

Capstone Copper's strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization, and safe and responsible production throughout its portfolio of assets. The company's focus on profitability and disciplined capital allocation to surface stakeholder value. The company is committed to creating a positive impact in the lives of its people and local communities while delivering compelling returns to investors by sustainably producing copper to meet the world's growing needs.