Mr. Daniel Sampieri reports

CAPSTONE COPPER INCREASES REVOLVING CREDIT FACILITY AND EXTENDS MATURITY TO MAY 2029

Capstone Copper Corp. has amended its existing revolving credit facility and extended the maturity from September, 2027, to May, 2029. The amended credit facility will bear interest on a sliding scale of adjusted term SOFR (secured overnight financing rate) plus a margin of 1.75 per cent to 2.75 per cent.

The amendment of the existing revolving credit facility increases the aggregate commitments from $700-million to $1-billion, with a $200-million accordion. Increased availability of the revolving credit facility is subject to refinancing of the company's Mantoverde development project facility. As part of the balance sheet optimization, Capstone intends to repay its 70-per-cent attributable share of project financing debt at the Mantoverde S.A. subsidiary using proceeds from the previously announced $600-million aggregate principal amount of 6.750 per cent senior unsecured notes due 2033.

"This represents a further step towards enhancing our balance sheet strength and flexibility. We are pleased to have achieved competitive terms and an extended maturity to 2029 on our revolving credit facility. When combined with the new senior unsecured notes announced in March, in addition to the anticipated repayment of our share of the Mantoverde development project facility, we have a simplified debt capital structure with our only material debt maturities in 2029 and 2033," 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. The Bank of Nova Scotia acted as syndication agent, joint bookrunner and co-lead arranger. ING Capital LLC acted as the joint bookrunner and co-lead arranger.

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. It 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, Chile, and 70 per cent of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, it owns the fully permitted Santo Domingo copper-iron-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, 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 focuses on profitability and disciplined capital allocation to surface stakeholder value. It is committed to creating a positive impact in the lives of its people and local communities, while delivering compelling returns to investors by responsibly producing copper to meet the world's growing needs.

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