Cozamin Mine - Mineral Reserves Estimates** as of December 31, 2011

 

MINERAL RESERVES									CONTAINED METAL**
	Category	000's Tonnes	Cu %	Zn %	Pb %	Ag g/t	Au g/t	Fe %	Cu M lbs	Zn M lbs	Pb M lbs	Ag M ozs	Au k ozs	Fe Mt
MNV/San Roberto (Mala Noche Vein)	Proven	899	1.88	0.91	0.65	75.52	-	-	37	18	13	2	-	-
	Probable	5,352	1.49	1.58	0.30	57.10	-	-	176	187	35	10	-	-
	Sub-total	6,251	1.55	1.49	0.35	59.75	-	-	213	205	48	12	-	-
MNFWZ (Mala Noche Footwall Zone)	Proven	375	1.81	0.27	0.02	33.11	-	-	15	2	0	0	-	-
	Probable	1,896	1.99	0.34	0.02	32.53	-	-	83	14	1	2	-	-
	Sub-total	2,271	1.96	0.33	0.02	32.62	-	-	98	16	1	2	-	-
Copper Zones Sub-total	Proven	1,274	1.86	0.72	0.46	63.03	-	-	52	20	13	3	-	-
	Probable	7,248	1.62	1.25	0.23	50.67	-	-	259	201	36	12	-	-
	Total	8,522	1.66	1.18	0.26	52.52	-	-	311	221	49	14	-	-
San Rafael Zinc Deposit	Probable	1,416	0.27	3.23	0.43	41.63	-	-	8	101	13	2	-	-
Total Cozamin Diluted Reserve		9,938	1.46*	1.47*	0.29*	50.97*	-	-	320	322	62	16	-	-

**Totals may not add due to rounding. Metal price assumption (in USD) used to calculate the $40 NSR COG for all Deposits are Cu=$2.50/lb Zn=$0.80/lb Pb=$0.85/lb and Ag=$20.00/oz. All mineral estimates exclusive of dilution and recovery factors. See Technical Reports filed under Capstone's profile on SEDAR for further information. 

*Grade corrected from December 31, 2011 AIF. No change to contained metal.

Click HERE for the mineral reserve estimate disclosure for Cozamin including methodology (see page 26).

Cozamin Mine - Mineral Resources by Class for All Copper Deposits as at December 31, 2011 at a US$35 NSR COG

 

MINERAL RESOURCES -- Inclusive of Mineral Reserves									CONTAINED METAL*
	Category	000's Tonnes	Cu %	Zn %	Pb %	Ag g/t	Au g/t	Fe %	Cu M lbs	Zn M lbs	Pb M lbs	Ag M ozs	Au k ozs	Fe Mt
MNV/San Roberto (Mala Noche Vein)	Measured	1,462	1.95	1.06	0.55	78.3	-	-	63	34	18	4	-	-
	Indicated	7,734	1.40	1.68	0.37	58.1	-	-	238	287	63	15	-	-
	M&I	9,196	1.49	1.58	0.40	61.4	-	-	301	321	80	18	-	-
	Inferred	4,785	1.03	1.57	0.31	45.9	-	-	109	165	33	7	-	-
MNFWZ (Mala Noche Footwall Zone)	Measured	340	1.98	0.30	0.02	37.1	-	-	15	2	0	0	-	-
	Indicated	1,877	2.12	0.36	0.02	35.4	-	-	88	15	1	2	-	-
	M&I	2,217	2.10	0.35	0.02	35.6	-	-	103	17	1	3	-	-
	Inferred	3,574	1.86	0.24	0.03	38.6	-	-	147	19	2	4	-	-
Copper Zones Sub-total	Measured	1,802	1.96	0.92	0.45	70.5	-	-	78	37	18	4	-	-
	Indicated	9,611	1.54	1.42	0.30	53.7	-	-	326	302	64	17	-	-
	M&I	11,413	1.61	1.34	0.32	56.4	-	-	404	338	81	21	-	-
	Inferred	8,359	1.39	1.00	0.19	42.8	-	-	256	184	35	12	-	-
San Rafael Zinc Deposit	Measured	0	0	0	0	0	-	-	0	0	0	0	-	-
	Indicated	2,619	0.27	3.09	0.42	40.6	-	-	15	178	24	3	-	-
	M&I	2,619	0.27	3.09	0.42	40.6	-	-	15	178	24	3	-	-
	Inferred	1,744	0.14	3.01	0.63	32.7	-	-	5	116	24	2	-	-
Cozamin Total	Measured	1,802	1.96	0.92	0.45	70.5	-	-	78	37	18	4	-	-
	Indicated	12,230	1.27	1.78	0.33	50.9	-	-	342	480	88	20	-	-
	M&I	14,032	1.37	1.67	0.34	53.6	-	-	419	516	105	24	-	-
	Inferred	10,103	1.17	1.35	0.27	41.0	-	-	261	300	59	14	-	-

*Totals may not add due to rounding. Metal price assumption (in USD) used to calculate the $35 NSR COG for all Deposits are Cu=$2.50/lb Zn=$0.80/lb Pb=$0.85/lb and Ag=$20.00/oz. Processing recoveries used to calculate the $35 NSR COG for MNFWZ Resource are Cu=92%; Zn=69%; Ag=72%. Processing recoveries used to calculate the $35 NSR COG for the San Roberto Resource are Cu=92%; Zn=69%; Ag=62%. Processing recoveries used to calculate the $35 NSR COG for the San Raphael Resource are Cu=5%; Zn=24%; Ag=28%. M&I = Measured & Indicated. See Technical Reports filed under Capstone's profile on SEDAR for further information.

Click HERE for the mineral resources estimate for Cozamin including methodology.

 

The current resource/reserve are contained in 1.5 km of strike while Capstone controls 5.5 km of strike of the Mala Noche vein system.

All technical information contained on this page has been reviewed and approved by Brad Mercer, P.Geol., Vice President, Exploration; and John Sagman BASc. P.Eng. PMP, Vice President of Technical Services for Capstone Mining Corp. who are the "qualified persons" as defined in National Instrument 43-101 of the Canadian Securities Administrators.