Capitan Silver Identifies New High-Priority Targets at Cruz De Plata and Provides Property Update

Executive Summary

• Capitan Silver reports that the mineralized system at Cruz de Plata is now known to extend >20 km (up from 7 km), indicating a substantially larger silver‑gold district.
• Six new high‑priority targets have been identified and are being moved to drill‑ready status; the Phase 1 drilling program has been upsized by 50 % to 15,000 m (fully funded).
• A property‑wide 385 km airborne magnetic & magnetotelluric survey is underway, with results expected Q1 2026.

Key Details

• System Expansion: Cumulative silver‑mineralized vein structures now total >20 km versus the previously reported 7 km (May 24 2023).
• New Targets: Six priority targets – Casco Norte, Jésus María Northwest, Jésus María East, San Rafael West, La Providencia, La Purísima – identified; all contain precious‑metal mineralization with notable grab/chip grades (e.g., 4,291 g/t AgEq at Casco Norte; 2,268 g/t AgEq at Jésus María Northwest).
• Geological Insight: A large granodiorite intrusion north of the main Jesús María trend controls mineralization; the silver vein system now wraps around its western and northern contacts. All lithologies host Au‑Ag mineralization.
• Drilling Program: Phase 1 expanded from 10,000 m to 15,000 m (50 % increase); 8,000 m already completed, assays pending for 38 RC holes with weekly new holes submitted.
• Airborne Geophysics: Contract awarded to Expert Geophysics Services for a 385 km magnetic & MT survey; deliverables include magnetic, conductivity and resistivity maps to ~1 km depth, slated for Q1 2026.
• Surface Sampling: Over 300 grab/chip samples collected across targets; highlights include:
• Casco Norte – up to 4,291 g/t AgEq.
• Jésus María East – up to 1,337 g/t AgEq.
• San Rafael West – up to 1,379 g/t AgEq.
• La Purísima – up to 241 g/t AgEq (polymetallic).
• Assay Methodology: Samples analyzed by Bureau Veritas Lab (Durango) using MA300, fire assay, etc.; QA/QC program includes standards, blanks and duplicates; AgEq calculated with metal recoveries (Ag 94%, Au 86%).
• Qualified Person: Marc Idziszek, P.Geo, reviewed and approved technical data per NI 43‑101.

Notable Quotes

“The continued growth and evolution of Cruz de Plata has been tremendously exciting for the Company… we are upsizing our Phase One Drill Program by 50 % to a total of 15,000 m, which is fully funded.” – Alberto Orozco, CEO, Capitan Silver Corp.

All forward‑looking statements are subject to risks and uncertainties as described in the release.