# Capitan Silver Corp. Reports Significant Increase in Inferred Mineral Resources at Capitan Hill Oxide Gold Deposit *2025-12-05T06:00:00-05:00* Capitan Silver Corp. Reports Significant Increase in Inferred Mineral Resources at Capitan Hill Oxide Gold Deposit Vancouver, British Columbia--(Newsfile Corp. - December 5, 2025) - **Capitan Silver Corp. (TSXV: CAPT) ("Capitan" or "the Company")**is pleased to report that is has completed an updated Mineral Resource Estimate ("**MRE**") for the Capitan Hill Oxide Gold Deposit ("**Capitan Hill**") at its Cruz de Plata silver-gold project, located in Durango, Mexico. **Highlights:** - New pit-constrained MRE defined for Capitan Hill is reported at a 0.18 grams per tonne ("g/t") gold (Au) cut-off grade, using a US$2,500 Au price - Inferred Mineral Resources of 39,795,000 Tonnes (t) at 0.41 g/t Au for 525,000 troy ounces (oz) of gold, represents a 115% increase in contained gold ounces compared to the historical block model and the previous MRE1 - The 2025 updated MRE produced an in-pit resource that represents 78% of all the block modelled gold ounces above the lower cut-off at Capitan Hill to date. Only in-pit ounces are reported as part of the MRE - The historical 2020 Capitan Hill MRE reported resources within 150m depth from surface using a cut-off of 0.25 g/t Au, which contained 20,722,000 t at 0.46 g/t Au for 305,000 oz of gold - To allow comparison of pit-constrained contained metal, a conceptual pit based on the 2020 historical MRE parameters and a US$1,500/oz gold price was created to constrain the historical 2020 Capitan Hill MRE. Within this conceptual pit shell, the historical 2020 Capitan Hill MRE contains 15,358,000 t at 0.50 g/t Au for 244,000 oz of gold, using a 0.25 g/t Au cut-off - The Capitan Hill Gold Deposit is in addition to the Company's Jesus Maria Silver Trend and represents approximately 1% of the total Cruz de Plata project area - Upcoming: - Approximately 2/3 of the expanded 15,000m drill program for 2025 has been completed with only 1/3 of the assay results released - Assay results pending for 31 drillholes, with drilling ongoing into Q1 2026 - Property-wide geophysical survey initiated, results expected in Q1 2026 Alberto Orozco, CEO of Capitan Silver, commented: _"While silver remains our primary focus and the strongest driver of value at Cruz de Plata, the updated in-pit constrained gold resource at Capitan Hill adds real strength to the project. The growth we achieved with limited drilling highlights the quality of the system and the optionality it brings to our silver-focused district._ _"It's also worth noting that our team has had tremendous success in the past with deposits like Capitan Hill, where we have advanced and built two similar projects — both on time and on budget, while creating meaningful shareholder value along the way."_ **Capitan Hill Mineral Resource Summary** During 2020 and 2021 Capitan completed a total of 12,209m of Reverse Circulation ("**RC**") exploration drilling in forty-nine (49) drillholes at Capitan Hill. The focus of this drill program was to expand the oxide gold mineralization along strike to the northwest and southeast, as well as down-dip to the southwest of the previous MRE. Additionally, infill drilling was completed along some section lines to help constrain the higher-grade mineralization that occurs along the volcanic-sediment unconformity (see Figure 1). [](https://images.newsfilecorp.com/files/7373/277025_d3540b23542ddbd9_003full.jpg) _Figure 1: Simplified geological map and mineral system model, including new identified targets. 1. Jesus Maria Silver Trend (Containing the Jesus Maria, Santa Teresa and San Rafael veins), 2. Gully Fault zone, 3. Jesus Maria East Trend, 4. San Rafael West, 5. Jesus Maria Northwest, 6. Casco Norte, 7. La Providencia, 8. Jesus Maria Silver Trend North, 9. La Purísima, 10. Capitan Hill gold deposit, 11. El Tubo hill gold target_ To view an enhanced version of this graphic, please visit: [https://images.newsfilecorp.com/files/7373/277025_d3540b23542ddbd9_003full.jpg](https://images.newsfilecorp.com/files/7373/277025_d3540b23542ddbd9_003full.jpg) Figure 2 below illustrates the impact that the 2020/21 drill program has had on the depth and definition of the Capitan Hill Gold Deposit since the program concluded. The figure on the left represents the historic limits of the 2014/15 drilling and the 2015 resource estimate (block model). The figure on the right illustrates the expanded footprint of the 2025 Capitan Hill MRE, showing a more complete interpretation of the mineralized zones, and an expanded footprint of the deposit at depth. The historical 2020 Capitan Hill MRE1was not constrained by a pit shell and instead used a 0.25 g/t Au lower cut-off and a 150m depth-from-topography repo