Capstone Mining Announces Board Changes in Line With Director Succession Strategy

VANCOUVER, Oct. 25, 2016 /CNW/ - Capstone Mining Corp. ("Capstone") (TSX: CS) is pleased to announce the appointment of Robert Gallagher and Jill Gardiner to the company's board of directors.

Bob Gallagher has worked in the mining industry for more than 40 years and has extensive experience in the development and operation of large-scale mining projects. Most recently, he was President & CEO and a director of New Gold, an intermediate gold producer with projects on three continents. Mr. Gallagher continues to serve as a director of New Gold Inc. Prior to the merger of Peak Gold, Metallica Resources and New Gold, Mr. Gallagher was the President and CEO of Peak Gold. Previously, he spent 15 years with Placer Dome Inc. and seven years with Newmont Mining Corporation, most recently as Vice President Operations of Newmont Asia Pacific. During his time at Newmont, Mr. Gallagher oversaw the completion of development and operation of the Batu Hijau Mine, the billion-ton, world-class copper-gold mine located in Indonesia and was responsible for seven smaller mines in Australia and New Zealand. 

Jill Gardiner is a corporate director and has a financial consulting practice. She is board chair of Turquoise Hill Resources Ltd. and a director of Capital Power Corporation, Parkbridge Lifestyle Communities Inc. and SilverBirch Hotels & Resorts. Previously, Ms. Gardiner spent over 20 years in the investment banking industry, most recently as Managing Director and Regional Head, British Columbia, for RBC Capital Markets. She also held various positions in corporate finance, mergers and acquisitions and debt capital markets as well as serving as Head of the Forest Products Group and Head of the Global Utilities Group. Prior to joining the investment banking industry, Ms. Gardiner was Senior Project Manager at the Ontario Energy Board and was also a lecturer at the University of Victoria.

At the same time Chantal Gosselin has decided to retire from Capstone's board and Larry Bell has advised that he does not intend to stand for re-election at Capstone's next Annual General and Special Meeting.

"I would like to welcome Bob and Jill to Capstone's board," said George Brack, Capstone's Board Chair. "They bring a wealth of mining, resource and financial experience that will be vital to the ongoing advancement of Capstone's strategy."

"I would also like to thank Chantal Gosselin for her dedicated involvement on Capstone's board. Her mining and capital markets experience has been invaluable to the company," continued Mr. Brack. "In addition I would like to express my appreciation for her leadership as Chair of the Corporate Governance and Nominating Committee and her role in leading the recruitment of the new directors."

About Capstone Mining Corp.

Capstone Mining Corp. is a Canadian base metals mining company, focused on copper. We are committed to the responsible development of our assets and the environments in which we operate. Our three producing mines are the Pinto Valley copper mine located in Arizona, US, the Cozamin copper-silver mine in Zacatecas State, Mexico and the Minto copper mine in Yukon, Canada. In addition, Capstone has two development projects; the large scale 70% owned copper-iron Santo Domingo project in Region III, Chile, in partnership with Korea Resources Corporation, and the 100% owned Kutcho copper-zinc project in British Columbia, Canada, as well as exploration properties in Chile and US. Capstone's strategy is to focus on the optimization of operations and assets in politically stable, mining-friendly regions, centred in the Americas. Our headquarters are in Vancouver, Canada and we are listed on the Toronto Stock Exchange (TSX). Further information is available at 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 does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. 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 Capstone to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

SOURCE Capstone Mining Corp.

For further information: Cindy Burnett, VP, Investor Relations and Communications, 604-637-8157, cburnett@capstonemining.com

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www.capstonemining.com

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