RC Drill Program At The Cruz De Plata Project

VANCOUVER – Capitan Silver Corp. reported on the 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.
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: 1) Upper zone: intersected 612.9 g/t AgEq over 1.5m, within a broader zone of 155.9 g/t AgEq over 6.1m. 2) 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: 1) 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. 2) 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, 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 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 is ongoing at Cruz de Plata, with the Company nearing completion of 10,000m of an upsized 15,000m drilling program. The Company has released assay results for approximately 30% of the 2025 drilling campaign.
Alberto Orozco, CEO, said, “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.”