Capitan Mining Inc. reported continued exploration results from five (5) reverse circulation drillholes at its 100% owned Jesús María Silver Zone, at the Cruz de Plata Project (Formerly referred to as Peñoles), Durango, Mexico. The current drilling campaign has completed 21 holes at the Jesus María zone. The drillholes reported herein were all step-out holes, except for hole 21-JMRC-06 and 21-JMRC-10 and were designed to extend mineralization down-dip along section, with three holes targeting the eastern portion of the Jesus Maria zone, and two targeting the west-central portion, and one targeting the high-grade shoot in the central portion of the deposit.

Hole 21-JMRC-10 was designed as a strategic infill hole that targeted a 60m wide gap in the high-grade mineralized shoot that occurs at the approximate intersection of the steeply dipping Gully Fault and shallowly dipping Jesus Maria structure. These holes play an important role in understanding the overall distribution and boundaries of high-grade mineralization at Jesus Maria and provide valuable information that help to increase the confidence in the continuity of the overall mineralization model. Hole 21-JMRC-10 was successful in confirming the continuity of the high-grade shoot between drillholes JM_DDH_14_26 and JM_DDH_14_27 which returned 602.02 g/t AgEq over 3m and 522.34 g/t AgEq over 4.7m respectively.

Additionally, Hole 21-JMRC-10 returned the best intersection to date at Jesus Maria returning 1.5m of 2,406.29 g/t AgEq within a wider interval of 16.8m of 332.4 g/t AgEq. Drillhole 21-JMRC-05 located on section 700, was a 54m step-out hole that targeted the potential down-dip extension of the Jesus Maria zone. The hole intersected Jesus Maria style, polymetallic mineralization over broad widths ranging from 1.5m to 21.3m and successfully extended the zone down- dip between 25 and 60m respectively.

Best results include 21.3m of 66.87 g/t AgEq including 1.5m of 185.38 g/t AgEq from 21-JMRC-05. Hole 21-JMRC-06 was an infill hole designed to test the continuity of higher-grade mineralization that was reported in two historic holes (JM_DDH_13_ 02 and 03), where there appeared to be either an offset or apparent change in dip of the main Jesus Maria mineralized zone. The hole returned two mineralized intervals (Upper and Lower) that correlated well with the zones reported in both historic drillholes, suggesting that either the main zone has been offset by a small fault or that the Upper zone pinches out the Lower one is developing and continuing down-dip beneath it.

Results from the upper zone include 13.7m of 146.46 g/t AgEq, including 3.0m of 271.45 g/t AgEq. The lower zone returned a narrower interval of 1.5m of 448.16 g/t AgEq (lower zone). Holes 21-JMRC-08 and -09 were step-outs from drillholes 21-JMRC-04 and JM_DDH_16 respectively and were designed to extend to Jesus Maria zone down-dip to the south, while also exploring for new higher-grade mineralization at depth.

Both holes intersected the Jesus Maria zone returning zones of mineralization of similar size and grade to those found up-dip, with generally higher base metal contents compared to the central and eastern portions of the deposit. The best results include 7.6m of 149.3 g/t AgEq including 1.5m of 349.72 g/t AgEq in hole 21-JMRC-08.