Capstone Copper Provides MVDP Commissioning Update;
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April 9, 2024
Capstone Copper Provides MVDP Commissioning Update;
First Quarter 2024 Results to be Released on May 2, 2024
Vancouver, British Columbia – Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS)
(ASX:CSC) is pleased to announce that first ore was introduced to the grinding circuit at its Mantoverde
Development Project (“MVDP”) in Chile during March. This represents the completion of a key commissioning
event and a further derisking step for the project . The Company is focused on a safe, efficient and phased
project commissioning and ramp-up. The project total capital estimate remains unchanged at $870 million.
Key commissioning milestones at the MVDP include:
• First ore to the primary crusher – completed in Q4 2023
• First ore to the grinding circuit – completed in Q1 2024
• First saleable concentrate – on track for Q2 2024
• Achievement of nameplate operating rates – expected during Q3 2024
John MacKenzie, Capstone’s Chief Executive Officer, commented, “I am pleased with the progress to date as
we work towards a safe and efficient ramp-up of the Mantoverde Development Project. In March we saw first
ore through the grinding circuit, and we remain on track for first saleable concentrate during the second quarter
of 2024. Mantoverde is a transformational asset for Capstone, driving significant production growth and margin
expansion across our portfolio.”
For a virtual tour of the Mantoverde Development Project please visit: https://vrify.com/decks/12698-
mantoverde-development-project
Further detail will be provided with the Company’s first quarter (“Q1 2024”) results on Thursday, May 2, 2024
after market close.
About MVDP
MVDP is expected to enable the mine to process 236 million tonnes of copper sulphide reserves (which
represent approximately 20% of total sulphide resources) over a 20- year expected mine life, in addition to
existing oxide reserves. The MVDP involves the addition of a sulphide concentrator (nominal 32,000 ore
tonnes per day) and tailings storage facility, and the expansion of the existing desalination plant and other
minor infrastructure.
Q1 2024 Results Details
Capstone will release its 2024 first quarter results on Thursday, May 2, 2024 after market close. The
announcement will be followed by an investor conference call the same day at 5:00 pm Eastern Time / 2:00
pm Pacific Time (Friday, May 3, 2024, 7:00 am Australian Eastern Standard Time).
Q1 2024 Results Webcast and Conference Call Details
Timing: May 2, 2024, 5:00 pm ET or 2:00 pm PT / May 3, 2024, 7:00 am AEST
Conference call webcast link: https://app.webinar.net/yE97V7pezQr
To connect by phone:
To instantly join the conference call by phone, please use the following URL https://emportal.ink/3xAioZG
to easily register yourself and be connected into the conference call automatically.
NEWS RELEASE
TSX:CS ● ASX:CSC ● capstonecopper.com
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You can also dial direct to be entered to the call by the operator:
Toronto: (+1) 416-764-8650
Vancouver: (+1) 778-383-7413
Australia: 613-627-2402
North America toll free: (+1) 888-664-6383
An audio replay of the conference call will be available until May 9, 2024.
Replay Dial-in Numbers
Toronto: (+1) 416-764-8677
North America toll free: 888-390-0541
Code: 176405#
After the replay expiration, an audio file will be available on Capstone’s website at Capstone Copper - Events
and Presentations. Further information is available at www.capstonecopper.com.
About Capstone Copper Corp.
Capstone Copper Corp. is an Americas -focused copper mining company headquartered in Vancouver,
Canada. We own and operate the Pinto Valley copper mine located in Arizona, USA, the Cozamin copper -
silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta
region, Chile, and 70% of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition,
we own the fully permitted Santo Domingo copper -iron-gold project, located approximately 30 kilometr es
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 our portfolio of assets. We focus on profitability and disciplined capital allocation to surface
stakeholder value. We are committed to creating a positive impact in the lives of our people and local
communities, while delivering compelling returns to investors by responsibly producing copper to meet the
world’s growing needs.
Further information is available at www.capstonecopper.com
Cautionary Note Regarding Forward-Looking Statements
This document may contain “forward-looking information” within the meaning of Canadian securities legislation
and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform
Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the
date of this document and the Company does not intend, and does not assume any obligation, to update these
forward-looking statements, except as required under applicable securities legislation.
Forward-looking statements relate to future events or future performance and reflect our expectations or
beliefs regarding future events. In certain cases, forward- looking statements can be identified by the use of
words such as “anticipate”, “approximately”, “believe”, “budget”, “ will”, “project”, “contemplate”, “estimate”,
“expect”, “forecast”, “guidance”, “intend”, “plan”, “scheduled”, “target”, or variations of such words and phrases,
or statements that certain actions, events or results “be achieved”, “could”, “may”, “might”, “occur”, “should”,
“will be taken” or “would” or the negative of these terms or comparable terminology.
Forward-looking statements include, but are not limited to, statements with respect to the estimation of Mineral
Resources and Mineral Reserves, the timing and cost of the Mantoverde Development Project (“MVDP”),
including but not limited to the timing of achieving milestones and saleable concentrate, the amount of
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estimated future production, the costs of production and capital expenditures and reclamation, the realization
of Mineral Reserve estimates, and the success of our mining operations.
By their very nature, forward- looking statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the forward-looking statements. Such
factors include, amongst others, risks related to inherent hazards associated with mining operations, future
prices of copper and other metals, inflation, counterparty risks associated with sales of our metals, changes
in general economic conditions, availability and quality of water, accuracy of Mineral Resource and Mineral
Reserve estimates, operating in foreign jurisdictions with risk of changes to governmental regulation,
compliance with gov ernmental regulations and stock exchange rules, reliance on approvals, licences and
permits from governmental authorities and stock exchanges and potential legal challenges to permit
applications, impact of climate change and changes to climatic conditions at our operations and projects, risks
relating to widespread epidemics or pandemic outbreaks, geopolitical events and the effects of global supply
chain disruptions, uncertainties and risks related to the potential development of the Santo Domingo project,
risks related to the MVDP , challenges to title to our mineral properties, environmental risks, maintaining
ongoing social licence to operate, dependence on key management personnel, ASX listing approval and
ongoing ASX compliance requirements and other risks of the mining industry as well as those factors detailed
from time to time in the Company’s and the risks included in our continuous disclosure filings on SEDAR+ at
www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause our actual results,
performance or achievements to differ materially from those described in our forward- looking statements,
there may be other factors that cause our results, performance or achievements not to be as anticipated,
estimated or intended. There can be no assurance that our forward- looking statements will prove to be
accurate, as our actual results, performance or achievements could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on our forward-looking statements.
Contact Information
Jerrold Annett, SVP, Strategy & Capital Markets
647-273-7351
Daniel Sampieri, Director, Investor Relations & Strategic Analysis
437-788-1767