Capitan Silver adds third drill rig to Cruz de Plata

Executive Summary

• Capitan Silver Corp. announces the arrival and commencement of drilling by a third drill rig (core rig) at its Cruz de Plata silver-gold project in Durango, Mexico.
• The company has launched an aggressive 60,000-metre drilling campaign for 2026, which is four times the size of the 2025 program and the largest in the company's history.
• The release details current drilling activities across three priority targets (A, B, and C) and provides previously announced high-grade silver equivalent (AgEq) intercepts for these targets.

Key Details

• Drilling Campaign: 60,000-metre program for 2026; largest in company history.
• Rig Configuration:
  • Total of four rigs planned: Three diamond (core) rigs and one reverse circulation (RC) rig.
  • Third rig (core) has arrived and commenced drilling.
  • First core rig arrived in February 2026; RC rig has been active since March 2025.
• Target A (Western End, near Penoles Fault):
  • First core rig focusing on expanding high-grade zone proximal to Penoles fault.
  • Targeting depth and downplunge of holes 25-ERRC-12, 25-ERRC-26, 25-ERRC-34, and 25-ERRC-38.
  • Previous Highlights:
    • 25-ERRC-12: 2,571.0 g/t AgEq over 1.5 m (within 1,369.3 g/t AgEq over 4.6 m; broader 368.1 g/t AgEq over 19.8 m).
    • 25-ERRC-26: Upper zone 612.9 g/t AgEq over 1.5 m (within 155.9 g/t AgEq over 6.1 m); Lower zone 1,767.4 g/t AgEq over 1.5 m (within 1,222.1 g/t AgEq over 3 m; wider 234.2 g/t AgEq over 25.9 m).
    • 25-ERRC-34: 1,130.1 g/t AgEq over 1.5 m (within 240.5 g/t AgEq over 25.9 m).
    • 25-ERRC-38: Four separate structures, including 2,451.1 g/t AgEq over 1.5 m (within 1,283.4 g/t AgEq over 4.6 m; broader 683.6 g/t AgEq over 9.1 m) and 1,187 g/t AgEq over 1.5 m (within 194.3 g/t AgEq over 16.8 m).
• Target B (East of Penoles Fault, toward San Rafael):
  • RC rig relocated to test continuity and explore for new high-grade zones.
  • Previous Highlights:
    • 25-ERRC-20: 1,541 g/t AgEq over 1.5 m (within 201.65 g/t AgEq over 18.3 m).
    • 25-ERRC-32: 1,254.8 g/t AgEq over 1.5 m (within 157.3 g/t AgEq over 16.8 m).
    • 25-ERRC-43: 225.3 g/t AgEq over 1.5 m (within 59.3 g/t AgEq over 12.2 m).
• Target C (Jesus Maria Silver Trend):
  • New core rig targeting high-grade zones and depth extension.
  • Previous Highlights:
    • JM-DDH-13-06 (2013): 3,409.1 g/t Ag, 0.9 g/t Au, 3.4% Pb, 7.1% Zn over 0.9 m (within 320.3 g/t Ag and 0.17 g/t Au over 11.85 m).
    • 21-JMRC-01: Five high-grade intervals, including 1,099.3 g/t AgEq over 1.52 m, 1,267.2 g/t AgEq over 1.52 m, 311.3 g/t AgEq over 3.0 m, 341.6 g/t AgEq over 1.52 m, and 276.9 g/t AgEq over 1.52 m (within 42.7 m of 207.8 g/t AgEq).
    • 21-JMRC-10: Upper zone 2,250.1 g/t AgEq over 1.5 m (within 447.3 g/t AgEq over 9.1 m; wider 309.8 g/t AgEq over 16.8 m); Lower zone 308.8 g/t AgEq over 7.6 m (within 171.3 g/t AgEq over 13.7 m).
• Metal Recovery Rates: Silver 94%, Gold 86%, Lead 93.5%, Zinc 92%.
• Catalysts: 34 drill holes pending final assays, including the first seven core holes from the first diamond rig.

Notable Quotes

• None explicitly quoted in the text provided.