Capstone Reports Exceptional Copper-Gold Grades at Minto North - Best Ever Drill Intercepts



    
    Hole 09SWC466 intercepts 10.8% Cu & 10.4g/t Au over 13.4m (including
    15.0% Cu & 15.7g/t Au over 8.2m)
    Hole 09SWC475 intercepts 7.8% Cu & 3.0g/t Au over 23.9m (including 13.9%
    Cu & 1.8g/t Au over 7.1m)
    

    VANCOUVER, May 12 /CNW/ - Capstone Mining Corporation (CS: TSX) today
announced assay results from 15 additional exploration drillholes completed on
the "Minto North" discovery at the Minto Mine. These most recent drill
intercepts from Minto North, which is located approximately 600 metres
north-northwest of the current open pit mining operation, returned the highest
ever copper-gold intercepts in the history of the Minto property. Highlights
of assays from these most recent drillholes are summarized in the table below
and the full results for the fifteen holes released today are provided in the
attached table.

    
                     Highlights from Minto North Drilling

    -------------------------------------------------------------------------
    Hole ID       Target    From    To Interval Interval Copper   Gold Silver
                   Area      (m)    (m)   (m)     (ft)     (%)    (g/t) (g/t)
    -------------------------------------------------------------------------
    09SWC-459  Minto North  84.2  109.2  25.0     82.0    3.65    2.25  14.3
    -------------------------------------------------------------------------
    Including               84.2  100.0  15.8     51.8    5.03    3.09  19.9
    -------------------------------------------------------------------------
    09SWC-465  Minto North  79.8   88.5   8.7     28.5    3.69    0.98  18.3
    -------------------------------------------------------------------------
    09SWC-466  Minto North  80.6   95.0  13.4     44.0   10.84 10.41(*) 43.6
    -------------------------------------------------------------------------
    including               83.3   91.5   8.2     26.9   14.98 15.68(*) 60.4
    -------------------------------------------------------------------------
    including               83.3   87.0   3.7     12.1   23.49 30.33(*) 94.8
    -------------------------------------------------------------------------
    09SWC-475  Minto North  76.2  100.1  23.9     78.4    7.82    3.05  32.4
    -------------------------------------------------------------------------
    including               76.7   94.4  17.7     58.1    9.75    3.36  39.9
    -------------------------------------------------------------------------
    including               76.7   83.8   7.1     23.3   13.92    1.83  56.3
    -------------------------------------------------------------------------
    including               76.7   79.8   3.1     10.2   24.30    1.63  98.6
    -------------------------------------------------------------------------
    (*) Includes a 0.3m sample with coarse grained visible gold that grades
        336g/t Au (10.80 oz/ton).
    

    "The copper-gold grades and thicknesses intercepted in recent drilling at
Minto North are unprecedented in the history of the Minto Mine property and
surpass even the Minto Main deposit discovery intersections of the early
1970's," said Stephen Quin, President & COO of Capstone. "The intervals in
drillholes 09SWC-466 and 09SWC-475 are easily the best intercepts on the Minto
property since the original discovery, and the continuity of the very high
grade between drillholes is also impressive," he said. "The discovery of the
Minto North deposit could significantly enhance the economics of the Minto
Mine since the very high grades over significant thicknesses are at relatively
shallow depths, and could potentially be brought into production relatively
early in the mine life, enhancing head grades in the early years of
production. Capstone aims to fast-track the definition drilling of Minto North
to reserve standards, metallurgical testing and environmental base line work
to allow the economic impact of this discovery to be fully appreciated."
    Current drill spacing likely supports the definition of an inferred
mineral resource. Geologic modeling in support of mineral resource estimation
has commenced at Minto North, based on drilling completed to date. A program
of infill drilling is planned for the summer of 2009, with drillhole spacing
to be similar to that used to support definition of measured & indicated
mineral resources and mineral reserves elsewhere on the Minto property.
    The discovery of Minto North also opens up significant additional
exploration potential in the northern half of the Minto Mine property, where
little exploration has been carried out over the past 35 years. During the
balance of 2009, Capstone intends to lay the foundation for more extensive
exploration of this largely neglected, northern half of the Minto Mine
property. Additional targets in the vicinity of the Minto North discovery will
also be drill tested when drilling resumes in the summer of 2009.

    Minto North Deposit

    As previously reported, mineralization at Minto North has been outlined
over a minimum area measuring approximately 200m by 125m in aerial extent, as
defined by an initial drill program using a drillhole spacing of 40 metres by
40 metres. Capstone intends to infill drill the initial pattern in 2009 to
provide for a maximum spacing of approximately 28 metres between holes,
similar to that used to define mineral reserves elsewhere at the Minto Mine.
    High grade drillholes 09SWC-459, -466 and -475, reported today, lay on a
continuous northeast-southwest oriented trend, without any intervening lower
grade drillholes in between. This suggests excellent continuity of the very
high copper grades over a minimum of 50 metres and highlights an area where
possible extensions of this high grade may lie - this potential will be tested
during the summer 2009 infill drill program. Drillholes 09SWC-457, -464, -465
and -469 also returned significant intercepts grades, but are somewhat
eclipsed by the exceptional results in those holes listed above. Other
drillholes of potential significance are holes 09SWC-470 to -473 inclusive.
These relatively shallow intercepts are much higher grade than was anticipated
and indicate the deposit is still open toward the east, where the
mineralization is shallowest.

    For current drillhole locations please view the accompanying map:
    http://www.capstonemining.com/2009_20_CS_cdl.jpg

    For a current view of drill results in priority areas across the property
please view the accompanying map:
    http://www.capstonemining.com/2009_20_CS_drpa.jpg

    For an inset view of drill results at Minto North please view the
accompanying map:
    http://www.capstonemining.com/2009_20_CS_mnd.jpg

    
    The TSX does not accept any responsibility for the adequacy or accuracy
    of this press release.
    

    Quality Assurance

    The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President & COO
for Capstone Mining Corporation. The exploration activities at the Minto
project site are carried out under the supervision of Brad Mercer, P. Geo.,
V.P. Exploration (Canada) for Capstone.
    The analytical method for the copper and silver analyses is aqua regia
digestion of the samples followed by atomic absorption spectroscopy. Gold is
analysed by fire assay fusion with atomic absorption spectroscopy finish for
gold. Analyses are carried out by ALS CHEMEX in North Vancouver. When visible
gold is noted in drill core samples or regular fire assay values appear
abnormally high, the pulp and screen metallic assay method is used to
determine the total gold content and gold contents of different size
fractions. This is considered industry best practice when dealing with coarse
gold mineralization where a nugget effect is suspected. This determination is
accepted as the most representative value and is used in the assay database
for resource calculations. Blank and standard samples are used for quality
assurance and quality control. Where more than two check samples assay outside
expected ranges, the entire batch is re-assayed. After the completion of
planned drill programs at Minto, random check assays will be carried out by
Acme Analytical of Vancouver.

    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
Capstone Mining Corp. (the "Company") does not intend, and does not assume any
obligation, to update these forward-looking statements.
    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 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", "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. 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, risks related to actual results of current exploration
activities; changes in project parameters as plans continue to be refined;
future prices of resources; possible variations in ore reserves, grade or
recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of development or construction activities; 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 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.

    
                 Details of Minto North (only) Drill Results
                 -------------------------------------------
         To accompany Capstone Mining News Release Dated May 12, 2009

    -------------------------------------------------------------------------
    Hole ID       Target    From   To  Interval Interval Copper  Gold  Silver
    & Interval               (m)   (m)    (m)    (feet)    (%)   (g/t)  (g/t)
    -------------------------------------------------------------------------
    09SWC-390,
    -392, -393,
    -402, -404,
    -406, -408,
    -410       Minto North            Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-453  Minto North           No Significant Intersections
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-454,
    -455, -456 Minto North            Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-457  Minto North  58.8   63.2   4.4     14.4    2.04   0.69    7.2
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-458  Minto North           No Significant Intersections
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-459  Minto North  84.2  109.2  25.0     82.0    3.65   2.25   14.3
    -------------------------------------------------------------------------
    including               84.2  100.0  15.8     51.8    5.03   3.09   19.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-460,
    -461       Minto North            Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-462  Minto North 145.9  155.2   9.3     30.5    0.37   0.14    1.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-463  Minto North            Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-464  Minto North  90.5   94.6   4.1     13.5    1.71   0.95    6.3
    -------------------------------------------------------------------------
    and                    131.7  155.8  24.1     79.1    0.40   0.21    1.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-465  Minto North  79.8   88.5   8.7     28.5    3.69   0.98   18.3
    -------------------------------------------------------------------------
    and                    101.4  103.3   1.9      6.2    1.98   0.95   11.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-466  Minto North  80.6   95.0  13.4     44.0   10.84  10.41   43.6
    -------------------------------------------------------------------------
    including               83.3   91.5   8.2     26.9   14.98  15.68   60.4
    -------------------------------------------------------------------------
    including               83.3   87.0   3.7     12.1   23.49  30.33   94.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-467  Minto North 122.6  134.0  11.4     37.4    0.52   0.31    2.5
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-468                                Assays Pending
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-469  Minto North  65.7   84.3  18.6     61.0    1.67   0.31    5.5
    -------------------------------------------------------------------------
    including               72.6   84.3  11.7     38.4    2.27   0.42    7.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-470  Minto North  12.2   27.7  15.5     50.9    1.15   0.20    4.0
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-471  Minto North  30.6   62.6  32.0    105.0    0.84   0.14    2.4
    -------------------------------------------------------------------------
    including               57.6   61.6   4.0     13.1    1.45   0.37    5.1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-472  Minto North  41.3   44.6   3.3     10.8    2.58   0.50    7.4
    -------------------------------------------------------------------------
    and                     67.5   91.4  23.9     78.4    0.98   0.21    3.1
    -------------------------------------------------------------------------
    including               75.3   86.2  10.9     35.8    1.42   0.26    3.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-473  Minto North  70.8   88.9  18.1     59.4    0.99   0.16    2.6
    -------------------------------------------------------------------------
    including               72.1   83.5  11.4     37.4    1.23   0.19    3.0
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-474  Minto North                   Assays Pending
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-475  Minto North  76.2  100.1  23.9     78.4    7.82   3.05   32.4
    -------------------------------------------------------------------------
    including               76.7   94.4  17.7     58.1    9.75   3.36   39.9
    -------------------------------------------------------------------------
                            76.7   83.8   7.1     23.3   13.92   1.83   56.3
    -------------------------------------------------------------------------
    including               76.7   79.8   3.1     10.2   24.30   1.63   98.6
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (*) Based upon current interpretations the intersected interval is
        believed to be at or close to the true thickness.
    





For further information:

For further information: Darren Pylot, Vice Chairman & CEO, Stephen
Quin, President & COO Or Investor Relations' Mark Patchett at (604) 684-8894
or (866) 684-8894, info@capstonemining.com


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