Capitan Silver Intersects High-Grade Silver Equivalent Mineralization at All Priority Target Areas
Capitan Silver Intersects High-Grade Silver
Equivalent Mineralization at All Priority Target
Areas
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2026) -
Capitan Silver Corp. (TSXV:
CAPT) (OTCQX: CAPTF) ("Capitan" or "the Company")
is pleased to report additional results from
its 60,000-metre drill program at its Cruz de Plata silver-gold project, located in Durango, Mexico. The
Company is reporting assay results from thirty-five (35) drill holes.
Highlights:
Capitan's Jesus Maria Silver Trend Expands Drilled Strike Length to 2.8 km
: Drilling
continues to expand silver mineralization both at depth and on strike along the
continuous 2.8 km Jesus Maria Silver Trend, with the Company returning multiple high-
grade intercepts from all three target areas
(See Figure 1)
Two (2) New High-Grade Silver Zones Discovered at Depth, East of the Peñoles Fault
:
Drill
holes 26-ERRC-63
and
26-SRRC-32
represent two (2) of the widest and highest-grade intervals
reported in this target area; both zones remain open along strike and at depth (see Figure 1,
Target B)
Drill highlights include:
848.0 g/t AgEq over 1.5 m, within a wider interval of 29.0 m of 181.4 g/t AgEq, as well
as a lower zone which returned 429.9 g/t AgEq over 1.5 m, within a wider zone of 3.0
m of 340.5 g/t AgEq
in
drill hole26-ERRC-63
Drill hole 26-ERRC-63 intersected a 70 m wide zone of mineralization (see Figure 2)
889.9 g/t AgEq over 1.5 m, within a wider interval of 27.4 m of 142.4 g/t AgEq and a
lower zone of 12.2 m of 63.6 g/t AgEq
in
drill hole 26-SRRC-32
Drill hole 26-SRRC-32 intersected six (6) silver mineralized zones (see Figure 3)
1,363.1 g/t AgEq over 1.1 m, within a wider interval of 3.1 m of 731.3 g/t AgEq
in an
upper zone, with the middle zone returning
389.7 g/t AgEq over 1.6 m and 288.6 g/t AgEq
over 1.3 m, within a wider interval of 11.6 m of 173.5 g/t AgEq and a lower zone of
198.8 g/t AgEq over 1 m, within 6.3 m of 82.6 g/t AgEq
in
drill hole 26-JMDD-09
1,123.6 g/t AgEq over 1.0 m and 597.2 g/t AgEq over 1.1 m, within a wider interval of
6.0 m of 125.3 g/t AgEq and a third mineralized zone which intersected 143.9 g/t
AgEq over 1.8 m, within a wider interval 25.4 m of 42.8 g/t AgEq
in
drill hole 26-ERDD-
14
368.9 g/t AgEq over 4.3 m, within a wider interval of 18.1 m of 159.2 g/t AgEq
in
drill
hole 26-JMDD-06
798.7 g/t AgEq over 1.0 m, within a wider interval of 11.1 m of 192 g/t AgEq
in
drill hole
26-JMDD-08
756.6 g/t AgEq over 2.0 m, within a wider interval of 5.3 m of 316.8 g/t AgEq
in
drill hole
26-ERDD-13
632.2 g/t AgEq over 1.5 m, within a wider interval of 5.3 m of 313.7 g/t AgEq
in
drill hole
26-JMDD-04
648.2 g/t AgEq over 1.1 m, within a wider interval of 6.4 m of 203.1 g/t AgEq
in
drill hole
26-ERDD-18
Upcoming Catalysts:
Assays pending for 78 drill holes in multiple priority targets:
31 core, 47 reverse
circulation ("
RC
") holes, with more arriving weekly (see new target drill plan map in Figure 7)
Acquiring new structural data:
Pilot Televiewer Survey has commenced
Alberto Orozco, CEO of Capitan Silver, commented:
"I'm very pleased with the results from our 2026 drill program. The footprint of the Cruz de Plata
continues to expand and confirms our thesis that we have a large, silver-rich mineralized system. Our
most recent batch of assay results have returned an abundance of high-grade silver intercepts, which
not only expand known mineralization to 2.8 km along the Jesus Maria Silver Trend, but also expand
the mineralized envelope deeper. Most significant - and encouraging - is the fact that these results
have also encountered high-grade mineralization in all three of our major target areas, which
reinforces our confidence in the robustness and large-scale potential of this asset."
Figure 1: Cruz de Plata Plan Map
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Discussion of 2026 Drill Program and Results
The 2026 drill program at the Cruz de Plata project is fully ramped up, with four (4) drill rigs currently
operating at site. Drilling through the late spring and summer focused on extending known zones of high-
grade silver mineralization at depth over the entire strike length of the Jesus Maria Silver Trend (see
Figure 1, Targets A, B, and C). This phase of drilling was executed primarily with diamond drilling, with
some supporting RC holes. Down-dip step-outs varied between 35 to 150 m.
The remainder of the 60,000 m program for this area is focused on drilling the strike length of the Jesus
Maria Silver Trend to a depth of 500 m vertically from surface with down-dip step outs increasing to 80 to
175 m with diamond drilling. The RC rig is now fully dedicated to drilling newly-permitted targets and has
moved from a single to a double shift to increase the drill rate for the remainder of the program.
Drill Results: Target Area B
Recent drilling at Target Area B has resulted in the
discovery of two (2) new high-grade zones of
silver mineralization
at depth, with grades approaching bonanza levels starting to appear in drilling.
Drill highlights from Target Area B include:
Drill hole 26-ERRC-63
intersected a 70 m wide zone of mineralization (see Figure 2), that
includes a number of reported mineralized intervals:
848.0 g/t AgEq over 1.5 m, within a wider interval of 29. 0 m of 181.4 g/t AgEq, as well
as a lower zone which returned 429.9 g/t AgEq over 1.5 m, within a wider zone of 3.0
m of 340.5 g/t AgEq
Drill hole 26-SRRC-32
intersected six (6) separate silver mineralized zones (see Figure 3).
This includes:
889.9 g/t AgEq over 1.5 m, within a wider interval of 27.4 m of 142.4 g/t AgEq and a
lower zone of 12.2 m of 63.6 g/t AgEq
Drill hole 26-ERRC-63
was drilled proximal to the hanging wall of the Peñoles Fault, which has
demonstrated to be a controlling structure for mineralization on the stratigraphically higher west side of
the fault (see previously reported drill holes 25-ERRC-12, 26, 35, 37).
This drill hole returned one of the most significant intersections of silver equivalent mineralization to date
along this portion of the Jesus Maria Silver Trend, returning multiple intervals including an
upper zone
which returned 410.7 g/t AgEq over 1.5 m within a wider zone of 3.0 m of 327.4 g/t AgEq, 848 g/t
AgEq over 1.5m, within a wider zone of 6.1 m of 429.6 g/t AgEq, all within a wider interval of 29
m of 181.4 g/t AgEq
. The
lower zone contained 429.9 g/t AgEq over 1.5 m, within a wider zone of
3.0 m of 340.5 g/t AgEq
. This new high-grade zone remains open to expansion down-dip to the south
and along strike to the east, with follow-up drilling currently being coordinated.
Figure 2: Cross-section of drill hole 26-ERRC-63
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Drill hole 26-SRRC-32
intersected the second high-grade zone of silver mineralization in Target B in
the vicinity of the historic San Rafael Mine. The hole returned six zones of mineralization (see Figure 3),
of which the most significant was a lower zone (labeled as 6 in Figure 3), which contains
889.9 g/t AgEq
over 1.5 m, within a wider zone of 3.0 m of 707 g/t AgEq, 107.7 g/t AgEq over 3.0 m and 197.1 g/t
AgEq over 3.0 m, all within a wider interval of 27.4 m of 142.4 g/t AgEq.
Figure 3: Cross-section of drill hole 26-SRRC-32
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These results confirm the Company's current working geological thesis that this portion of the Jesus
Maria Silver Trend has been dropped down several hundred metres by the Peñoles Fault, preserving the
upper portions of the vertically zoned hydrothermal system, which is generally more gold dominated, and
characterized by more widespread silica alteration and boiling textures in the higher, near surface
portions. As exploration has continued to expand mineralization to depth, a transition to high-grade silver
mineralization has started to evolve, with mineralization wide open to expansion at depth over this
portion of the trend.
Drill Results: Target Area C
Drilling at Target Area C continued to return encouraging results, with drilling focused on extending
mineralization down-dip from known high-grade zones in the vicinity of the historic Jesus Maria Mine.
Drill holes 26-JMDD-04, 06, 07, 08, 09 and 10
all returned significant intervals of silver mineralization,
with
all holes reporting values more than 300 g/t AgEq, with bonanza grades greater than 1,000
g/t AgEq
returned in drill hole
26-JMDD-09
(see Table 1 and Figure 4). All drill holes extended
mineralization between 35 and 150 m down-dip from previously reported intersections.
Drill highlights from Target Area C include:
1,363.1 g/t AgEq over 1.1 m, within a wider interval of 3.1 m of 731.3 g/t AgEq
in an upper
zone, with the middle zone returning
389.7 g/t AgEq over 1.6 m and 288.6 g/t AgEq over 1.3 m,
within a wider interval of 11.6 m of 173.5 g/t AgEq and a lower zone of 198.8 g/t AgEq over
1 m, within 6.3 m of 82.6 g/t AgEq
in
drill hole 26-JMDD-09
798.7 g/t AgEq over 1.0 m, within a wider interval of 11.1 m of 192 g/t AgEq
in
drill hole 26-
JMDD-08
632.2 g/t AgEq over 1.5m, within a wider interval of 5.3 m of 313.7 g/t AgEq
in
drill hole 26-
JMDD-04
368.9 g/t AgEq over 4.3 m, within a wider interval of 18.1 m of 159.3 g/t AgEq
in
drill hole 26-
JMDD-06
Figure 4: Cross-section of drill hole 26-JMDD-09
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Drill Results: Target Area A
At Target Area A, diamond core drilling continued to expand the main Jesus Maria Vein down-dip from
the historic El Refugio Mine. The primary goal of this drilling is to extend previously reported high-grade
silver mineralization to depth, with the secondary goal of exploring/infilling areas with poor drill density in
the vicinity of the Target C and Target A boundary.
The best intercept in this zone was in
drill hole 26-ERDD-14
, which intersected up to
1,123.6 g/t AgEq
over 1.0 m.
Five of the holes returned grades in excess of
500 g/t AgEq
, with the majority of the holes
intersecting values in excess of
200 g/t AgEq
.
Drill highlights from Target Area A include:
1,123.6 g/t AgEq over 1.0 m and 597.2 g/t AgEq over 1.1 m, within a wider interval of 6.0 m
of 125.3 g/t AgEq and a third mineralized zone which intersected 143.9 g/t AgEq over 1.8
m, within a wider interval 25.4 m of 42.8 g/t AgEq
in
drill hole 26-ERDD-14
648.2 g/t AgEq over 1.1 m, within a wider interval of 6.4 m of 203.1 g/t AgEq
in
drill hole 26-
ERDD-18
756.6 g/t AgEq over 2.0 m, within a wider interval of 5.3 m of 316.8 g/t AgEq
in
drill hole 26-
ERDD-13
643.1 g/t AgEq over 0.9 m
in
drill hole 26-ERDD-23
538.7 g/t AgEq over 1.7 m, within a wider interval of 5.2 m of 285.2 g/t AgEq
in
drill hole 26-
ERDD-27
305.5 g/t AgEq over 1.3 m, within a wider interval of 25.6 m of 85.0 g/t AgEq
in
drill hole 26-
ERDD-29
Drilling at Target area A continues to extend mineralization at depth with base metal tenors continuing to
increase as drilling targets deeper and higher temperature portions of the mineralized system. The
Company anticipates base metals tenors to continue to increase at depth, similar to what is seen to the
west at the Jesus Maria Mine area.
Figure 5: Cross-section of drill hole 26-ERDD-18
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Figure 6: Long-Section of Jesus Maria Silver Trend
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