Capitan Silver Corp. Intersects 1,767 g/t Silver Equivalent over 1.5 Metres, Within a Wider Zone of 234.2 g/t Silver Equivalent over 25.9 Metres at the Jesus Maria Silver Trend Capitan intersects and expands high-grade silver
Capitan Silver Corp. Intersects 1,767 g/t Silver
Equivalent over 1.5 Metres, Within a Wider
Zone of 234.2 g/t Silver Equivalent over 25.9
Metres at the Jesus Maria Silver Trend
Capitan intersects and expands high-grade silver
mineralization at Cruz de Plata
Vancouver, British Columbia--(Newsfile Corp. - November 11, 2025) -
Capitan Silver Corp. (TSXV:
CAPT) ("Capitan" or "the Company")
is pleased to report assay results from its recently expanded
and fully funded Phase One reverse circulation ("
RC
") 15,000-metre drill program at its Cruz de Plata
silver-gold project, located in Durango, Mexico. The Company is reporting assay results from six (6)
drillholes.
Highlights:
Further high-grade mineralization intersected by follow-up drilling near drillhole 25-
ERRC-12 confirms the emergence of a new large, high-grade silver zone at Jesus Maria
Drillhole 25-ERRC-26
Upper zone:
intersected
612.9 g/t AgEq over 1.5m
, within a broader zone of
155.9
g/t AgEq over 6.1m
Lower zone:
intersected
1,767.4 g/t AgEq over 1.5m
, within a broader zone of
1,222.1 g/t AgEq over 3m
, which is part of a wider interval of
234.2 g/t AgEq over
25.9m
Drillhole 25-ERRC-26
also returned a long continuous zone of mineralization with grades
above 25 g/t AgEq for over 87m down-hole
Drillhole 25-ERRC-21
Upper zone
: intersected
710.5 g/t AgEq over 1.5m
and
353.2 g/t AgEq over 1.5m,
within a wider interval of
292.4 g/t AgEq over 6.1m
Lower zone:
intersected
260 g/t AgEq over 1.5m
, within a broader interval of
74.9
g/t AgEq over 35.1m
Drillholes 25-ERRC-26 and 25-ERRC-21 add to previously reported high-grade silver
mineralization intersected in drillhole 25-ERRC-12 (
2,636 g/t Ag over 1.5m,
within a wider
interval of
370.2 g/t Ag over 19.8m
, see Capitan news release dated September 2, 2025),
suggesting an emerging high-grade zone of silver mineralization
Broad new mineralized zone identified at the Peñoles Fault:
Drillhole 25-ERRC-26
also
intersected a wide zone of high-grade, Gully Fault-style, silver-gold mineralization, suggesting the
presence of an additional structure cross-cutting the Jesus Maria vein
Drilling confirms that mineralized intrusive dykes (cross-cutting mineralized structures) are
becoming an important target across the property and could be important structures for
transporting mineralization
Peñoles Fault has been traced for approximately 500m on strike through mapping, with
follow-up drilling planned to test the target
Drillhole 25-ERRC-25
intersected
1.5m of 687.4 g/t AgEq,
within a wider interval of
6.1m of
250.3 g/t AgEq
at the Jesus Maria vein
All drillholes reported in this news release extended silver mineralization
in existing zones
and identified new targets for follow-up drilling. Total drilled continuity on the western side of Jesus
Maria trend is 1.7km
Drilling update:
Drilling is ongoing at Cruz de Plata, with the Company nearing completion of
10,000m of an upsized 15,000m drilling program. As of this news release, the Company will have
released assay results for approximately 30% of the 2025 drilling campaign
Catalyst-rich Q4 2025 and Q1 2026:
Assay results pending for 25 drillholes
Updated Mineral Resource estimate on Capitan Hill
Property-wide geophysical survey initiated
Alberto Orozco, CEO of Capitan Silver, commented:
"Capitan's Phase One drill program at Cruz de Plata continues to find more mineralization at the
Property — both in terms of high-grade intercepts but also through identifying new mineralized zones
and structures.
Follow-up drilling on the eastern part of the Jesus Maria vein near drillhole 25-ERRC-12 was highly
successful in confirming that drillhole 25-ERRC-12 (the highest-grade result to date for the 2025
drilling campaign) is not an anomaly and is part of a much larger high-grade target. Drillhole 25-
ERRC-26, in addition to extending the Jesus Maria trend along strike, at depth, and down-dip,
discovered a new broad zone of mineralization that shares many characteristics with Gully Fault-style
silver and gold mineralization, compared to the Jesus Maria vein-style mineralization.
This discovery of another broad, mineralized cross-cutting structure is significant as we are seeing
these structures as important conduits for carrying mineralized fluid across the property. We have
identified several of these mineralized intrusive dykes as important targets for follow-up drilling.
Additionally, this further reinforces the size and scale Cruz de Plata as a rich, robust mineralized
system."
Discussion of drill results
Drilling continues to steadily progress at the Cruz de Plata silver-gold project, with a total of 57 drillholes
completed to date across the Jesus Maria trend, Gully Fault, as well as new, early-stage targets
throughout the Property.
Drillhole 25-ERRC-21 and 25-ERRC-26 were drilled in proximity to previously announced drillhole 25-
ERRC-12, with drillhole 25-ERRC-26 being a 50-metre step out to the east and 25-ERRC-21 testing the
down-dip area to the south (See Figure 1). Both drillholes returned high-grade intercepts, with drillhole
25-ERRC-26 intersecting
1,767.4 g/t AgEq over 1.5m
contained within
1,222.1 g/t AgEq over 3.0m
,
which is within a broader zone of
25.9m of 234.2 g/t AgEq
. Drillhole 25-ERRC-26 also intersected a
broad, 87m wide zone of continuous mineralization from 68.58m to 155.45m, containing intervals of 25
g/t AgEq and higher (See Figure 2 and Table 1). Drillhole 25-ERRC-26 also intersected an additional
high-grade zone closer to surface containing
612.9 g/t AgEq over 1.5m
, within a broader interval of
155.9 g/t AgEq over 7.6m
. The mineralization in this hole was dominantly silver with gold and minor
amounts of base metals. This, together with the broad mineralized zone, bears the same defining
characteristics of mineralization at the Gully Fault Zone.
While more drilling will be required to define this new zone, broad intervals of mineralization in other
surrounding holes from the current drill program also support the presence of a new zone with this same
style of mineralization. Drillhole 25-ERRC-21 also intersected multiple zones of mineralization, with the
highlight being a shallow zone of
710.5 g/t AgEq over 1.5m
and
353.2 g/t AgEq
, both within a broader
intercept of
292.4 g/t AgEq over 6.1m
, with values of only silver and gold with low base metal values.
25-ERRC-21 also hit
260 g/t AgEq over 1.5m
and
242.8 g/t AgEq over 1.5m
within a broader zone of
74.9 g/t AgEq over 35.1m
, with this hit being more consistent with the Jesus Maria vein style of
mineralization (See Figures 1 and 2).
Drillholes 25-ERRC-23, 25-ERRC-24, 25-ERRC-25, and 25-ERRC-22 were drilled as follow-ups of
drillholes 25-ERRC-03, 25-ERRC-06, 25-ERRC-09 and 25-ERRC-01, respectively; testing on a 60m
down-dip extension to those drillholes, with the exception of drillhole 25-ERRC-23, which was drilled at
an 80m down-dip step out from drillhole 25-ERRC-03. All drillholes intersected the Jesus Maria vein as
expected, with results shown in Table 1. From this set of drillholes, drillhole 25-ERRC-25 produced the
best intercept with a high-grade interval of
687.4 g/t AgEq over 1.5m,
within a wider interval of
250.3 g/t
AgEq over 6.1m
(See Figure 2 and Table 1).
All drill results in this news releases extended mineralization
Drillhole 25-ERRC-26
extended mineralization approximately 50m to the east of drillhole 25-
ERRC-12;
Drillhole 25-ERRC-21
extended mineralization in the upper zone by 30m down-dip while the
lower zone extended mineralization approximately 70m down-dip from drillhole 25-ERRC-12;
Drillhole 25-ERRC-22
extended the mineralized zone approximately 60m down-dip from drillhole
25-ERRC-01;
Drillhole 25-ERRC-23
extended the mineralized zone approximately 75m down-dip from drillhole
25-ERRC-03;
Drillhole 25-ERRC-24
extended the mineralized zone approximately 55m down-dip from drillhole
25-ERRC-06; and
Drillhole 25-ERRC-25
extended the mineralized zone approximately 65m down-dip from drillhole
25-ERRC-09
Figure 1. Drill Map
To view an enhanced version of this graphic, please visit:
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Figure 2. Cross sections of drillholes 25-ERRC-25, 21 and 26
To view an enhanced version of this graphic, please visit:
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Table 1. Drill results
Hole ID
From
(m)
To
(m)
Interval
(m)
Ag Eq
Rec (g/t)
Ag
(ppm)
Au
(ppm)
Pb
(%)
Zn
(%)
25-ERRC-21
Interval
39.6
45.7
6.1
292.4
276.4
0.772
0.010
0.018
Including
41.1
42.7
1.5
353.2
299.0
1.037
0.014
0.017
Including
44.2
45.7
1.5
710.5
644.0
1.508
0.023
0.021
Interval
56.4
57.9
1.5
29.6
27.8
0.041
0.002
0.019
Interval
65.5
68.6
3.0
74.7
60.4
0.251
0.003
0.018
Interval
74.7
82.3
7.6
45.0
30.4
0.217
0.004
0.042
Interval
111.3
115.8
4.6
30.2
25.3
0.082
0.006
0.019
Interval
135.6
170.7
35.1
74.9
57.2
0.049
0.188
0.367
including
144.8
146.3
1.5
260.0
249.0
0.129
0.159
0.369
Interval
205.7
207.3
1.5
242.8
244.0
0.109
0.073
0.115
25-ERRC-22
Interval
36.6
38.1
1.5
54.4
44.7
0.171
0.009
0.010
Interval
54.9
56.4
1.5
63.5
57.7
0.124
0.014
0.010
Interval
96.0
97.5
1.5
351.1
251.0
0.035
1.180
2.340
Interval
131.1
143.3
12.2
53.1
44.5
0.105
0.056
0.072
Interval
193.5
195.1
1.5
27.7
18.8
0.016
0.075
0.201
Interval
202.7
204.2
1.5
31.7
25.9
0.075
0.039
0.032
Interval
262.1
263.7
1.5
25.7
21.2
0.036
0.016
0.084
25-ERRC-23
Interval
9.1
10.7
1.5
56.4
47.3
0.160
0.012
0.016
Interval
62.5
64.0
1.5
87.0
50.1
0.564
0.015
0.019
Interval
68.6
70.1
1.5
59.0
52.9
0.111
0.022
0.029
Interval
121.9
125.0
3.0
49.5
35.0
0.033
0.117
0.325
Interval
132.6
134.1
1.5
250.5
252.0
0.041
0.109
0.226
Interval
146.3
150.9
4.6
117.7
72.2
0.087
0.409
0.950
25-ERRC-24
Interval
21.3
22.9
1.5
56.7
28.9
0.406
0.002
0.045
Interval
64.0
65.5
1.5
27.4
10.9
0.237
0.003
0.021
Interval
71.6
73.2
1.5
28.0
24.8
0.030
0.013
0.068
Interval
140.2
141.7
1.5
30.2
13.9
0.051
0.122
0.300
25-ERRC-25
Interval
10.7
12.2
1.5
25.5
20.7
0.083
0.002
0.009
Interval
24.4
25.9
1.5
45.9
22.9
0.344
0.004
0.016
Interval
57.9
59.4
1.5
27.3
25.9
0.034
0.008
0.012
Interval
79.2
80.8
1.5
31.9
30.9
0.037
0.000
0.009
Interval
115.8
121.9
6.1
250.3
202.1
0.144
0.454
1.134
including
117.3
118.9
1.5
687.4
596.0
0.155
1.120
2.500
Interval
137.2
138.7
1.5
36.9
8.3
0.070
0.106
0.628
25-ERRC-26
Interval
48.8
50.3
1.5
324.0
316.0
0.366
0.011
0.043
Interval
68.6
76.2
7.6
155.9
150.7
0.198
0.003
0.017
including
74.7
76.2
1.5
612.9
616.0
0.482
0.005
0.016
Interval
83.8
109.7
25.9
234.2
231.9
0.214
0.012
0.035
including
83.8
86.9
3.0
1222.1
1205
1.25
0.04
0.07
including
83.8
85.3
1.5
676.8
650.0
0.926
0.023
0.042
including
85.3
86.9
1.5
1,767.4
1,760.0
1.569
0.066
0.093
including
96.0
97.5
1.5
355.2
369.0
0.075
0.024
0.073
Interval
115.8
126.5
10.7
50.9
43.0
0.129
0.010
0.036
Interval
137.2
146.3
9.1
39.4
35.5
0.067
0.015
0.031
Interval
150.9
152.4
1.5
53.8
55.1
0.016
0.014
0.015
Interval
166.1
167.6
1.5
33.0
23.6
0.136
0.012
0.035
Interval
172.2
173.7
1.5
44.4
36.2
0.023
0.040
0.226
Interval
184.4
185.9
1.5
63.9
63.4
0.042
0.019
0.027
Metal Recovery: Ag 94%, Au 86%, Pb 93.5%, Zn 92%
AgEq considers Ag, Au, Pb and Zn and calculated as follows: AgEq = Ag g/t + (80x Au g/t) + (0.003 x Pb g/t) + (0.0037 x Zn g/t). High grades have
not been capped. Capitan Silver field samples are sent to the Bureau Veritas Lab in Durango, Mexico for prep. RC Drill samples have been
analysed using the following codes: MA300, 4-acid digestion, multi-element analysis (Vancouver Lab). Au is analyzed using Fire Assay (FA430,
Durango Lab). Overlimit (>200 ppm Ag) assays utilize method MA370, with gravimetric utilized for any overlimit thereafter. QAQC: Capitan Silver
maintains a rigorous QAQC program and inserts multiple standards, blanks and duplicates into the sample stream at regular intervals. Check
Assays are performed at SGS laboratories in Durango, Mexico.
Qualified Person
The scientific and technical data contained in this news release pertaining to the Cruz de Plata project
was reviewed and approved by Marc Idziszek, P.Geo, a non-independent qualified person to Capitan
Silver, who is responsible for ensuring that the technical information provided in this news release is
accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of
Disclosure for Mineral Projects.
About Capitan Silver Corp.
Capitan Silver is defining a new high-grade silver system at its Cruz de Plata project, located in the heart
of Mexico's primary silver belt. The Company is led by a proven and accomplished management team
that has previously advanced three projects into production, on time and on budget. The Company has
been diligent in maintaining a tight share structure and has one of the tightest share structures among its
peer group, with the top three shareholders owning over 38% of the Company's share capital. Capitan
Silver is fully funded and actively drilling at its Cruz de Plata silver project.
ON BEHALF OF CAPITAN SILVER CORP.
"Alberto Orozco"
Alberto Orozco, CEO
For Additional Information Contact:
Alberto Orozco, CEO
Capitan Silver Corp.
Greg DiTomaso, Investor Relations
Capitan Silver Corp.
Phone: (416) 433-2801
www.capitansilver.com
DISCLAIMER FOR FORWARD-LOOKING INFORMATION
Certain statements in this press release may be considered forward-looking information. These
statements can be identified by the use of forward-looking terminology (e.g., "expect", "estimates",
"intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks --
including the availability of funds, the results of financing and exploration activities, the interpretation of
exploration results and other geological data, or unanticipated costs and expenses and other risks
identified by Capitan in its public securities filings that may cause actual events to differ materially from
current expectations. Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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