VANCOUVER, December 11, 2013 /PRNewswire/ --
Capstone Mining Corp. ("Capstone") (TSX: CS) has today filed on
SEDAR an amended National Instrument 43-101 ("NI 43-101") technical
report titled "Pinto Valley Property Mineral Resource Estimate,"
amended December 11, 2013, supporting
the mineral resource estimate of the Pinto Valley copper mining
operation, first announced April 28,
2013, with an initial technical report filed June 12, 2013.
The mineral resource estimate has not changed from what was
first announced on April 28, 2013.
Now that Capstone has completed the acquisition of the Pinto Valley
property, additional information and technical details have become
available allowing for additional disclosure.
Work on a Preliminary Feasibility Study ("PFS") is underway with
expected completion in the first quarter of 2014. The PFS will
consider the potential to extend operations within the currently
permitted boundaries.
Both the initial and revised technical reports were prepared in
accordance with NI 43-101 Standards of Disclosure for Mineral
Projects and Form 43-101F1 by Garth
Kirkham, P.Geo., of Kirkham Geosystems Ltd., an independent
Qualified Person as defined by NI 43-101.
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company,
committed to the responsible development of our assets and the
environments in which we operate. We are focused on copper, with
three producing mines; the Pinto Valley copper-molybdenum mine
located in Arizona, US, the
Cozamin copper-silver-zinc-lead mine in Zacatecas State,
Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two
development projects; the large scale 70% owned Santo Domingo copper-iron-gold project in
Region III, Chile, in partnership
with Korea Resources Corporation, and the 100% owned Kutcho
copper-zinc-gold-silver project in British Columbia, Canada, as well as
exploration properties in Canada,
Chile and Mexico. Using our cash flow and strong balance
sheet as a platform, Capstone's strategy is to continue to grow
with mineral resource and reserve expansions and exploration, and
through acquisitions in politically stable, mining-friendly
regions. We will pace our growth with our financial capacity,
ensuring we retain, as a priority, sufficient financial flexibility
to meet the requirements of our existing operations and our
committed development projects, while maintaining an adequate
cushion to deal with market volatility and operating risks inherent
in the mining industry. Our headquarters are in Vancouver, Canada and we are listed on the
Toronto Stock Exchange (TSX). Further information is available at
http://www.capstonemining.com.
Cautionary Note Regarding
Forward-Looking Information
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 Capstone Mining Corp. (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 Company management's expectations or
beliefs regarding future events and include, but are not limited
to, statements with respect to the estimation of mineral reserves
and mineral resources, the conversion of mineral resources to
mineral reserves, the expected timing of completion of the
Preliminary Feasibility Study, the expected results of that study
the realization of mineral reserve estimates, the timing and amount
of estimated future production, costs of production, capital
expenditures, success of mining operations, environmental risks,
unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"outlook", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved" or the negative of these
terms or comparable terminology. In this document certain
forward-looking statements are identified by words including
"scheduled", "plan", "planned", "estimated", "projections",
"projected" and "expected". Forward-looking statements are based on
a number of assumptions which may prove incorrect, including, but
not limited to, the development potential of the project and
current and future commodity prices and exchange rates. By their
very nature forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others, changes in
operating parameters as plans continue to be refined; future prices
of mineral resources; possible variations in ore reserves, grade or
recovery rates; accidents; dependence on key personnel; labour pool
constraints; labour disputes; delays in obtaining governmental
approvals and other risks of the mining industry as well as those
factors detailed from time to time in the Company's interim and
annual financial statements and management's discussion and
analysis of those statements, all of which are filed and available
for review on SEDAR at http://www.sedar.com. Although the Company
has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward looking statements.
Quality Assurance and National
Instrument 43-101 Compliance
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in
National Instrument 43-101 Standards of Disclosure for Mineral
Projects of the Canadian Securities Administrators ("NI 43-101")
and reviewed by Brad Mercer, P.Geo.,
Capstone's Sr. Vice President, Exploration, a "Qualified Person"
under NI 43-101. The mineral resource estimate contained in the
technical report reported herein for the Pinto Valley property was
prepared by Garth Kirkham, P. Geo,
Kirkham Geosystems Ltd., an independent Qualified Person, from
information provided by BHP Billiton.
Cautionary Note to United States
Investors
This news release contains disclosure that has been prepared in
accordance with the requirements of Canadian securities laws, which
differ from the requirements of U.S. securities laws. Without
limiting the foregoing, this news release refers to a technical
report that uses the terms "indicated" and "inferred" resources.
U.S. investors are cautioned that, while such terms are recognized
and required by Canadian securities laws, the SEC does not
recognize them. Under U.S. standards, mineralization may not be
classified as a "reserve" unless the determination has been made
that the mineralization could be economically and legally produced
or extracted at the time the reserve determination is made. U.S.
investors are cautioned not to assume that all or any part of
indicated resources will ever be converted into reserves. U.S.
investors should also understand that "inferred resources" have a
great amount of uncertainty as to their existence and as to whether
they can be mined legally or economically. It cannot be assumed
that all or any part of "inferred resources" will ever be upgraded
to a higher category. Therefore, U.S. investors are also cautioned
not to assume that all or any part of inferred resources exist, or
that they can be mined legally or economically. Accordingly,
information concerning descriptions of mineralization and resources
contained in this news release may not be comparable to information
made public by U.S. companies subject to the reporting and
disclosure requirements of the SEC.
For further information:
Cindy Burnett, VP, Investor
Relations and Communications
+1-604-637-8157
cburnett@capstonemining.com
SOURCE Capstone Mining Corp.