Capstone Reports Final Phase 1, Drill Results – More High Gold Grades at Minto North

    Hole 09SWC474 intercepts 3.0% Cu & 6.0g/t Au over 32.3m (including 4.7%
    Cu & 9.8g/t Au over 8.8m)

VANCOUVER, May 26 /PRNewswire-FirstCall/ – Capstone Mining Corporation (CS: TSX) today announced the assay results for 18 new exploration drill holes completed at its high grade Minto copper-gold mine in the Yukon. Included in these results are more high grade copper-gold intercepts from the recently discovered Minto North deposit, and significant intercepts from Area 118 and from the south end of the Copper Keel trend. Some of the best new intercepts at Minto North were at shallow depths and, overall, these results should enhance the Minto Mine Phase IV expansion study currently well underway and slated for completion later this year. Highlights from this latest batch of results are tabulated below, while complete results are attached.

                      Highlights of Minto Drill Results
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    Hole ID      Target  From   To  Interval Interval Copper   Gold   Silver
                 Area    (m)   (m)    (m)     (ft)      (%)   (g/t)    (g/t)
    -------------------------------------------------------------------------
    09SWC-420* Area
                 118    241.6 247.9    6.3*  20.7* 3.65   1.43      17.4
    -------------------------------------------------------------------------
      including         242.9 246.3    3.4*  11.2* 6.12   2.38      30.1
    -------------------------------------------------------------------------
    09SWC-447    Copper
                 Keel S  70.4  90.7   20.3     66.6    1.84   1.61       8.2
    -------------------------------------------------------------------------
      including          78.3  87.8    9.5     31.2    2.96   2.80      13.9
    -------------------------------------------------------------------------
    09SWC-468    Minto
                 North   22.3  48.8   26.5     86.9    1.53   3.49**   4.9
    -------------------------------------------------------------------------
      including          22.3  32.5   10.2     33.5    2.19   8.57**   6.7
    -------------------------------------------------------------------------
    09SWC-474    Minto
                 North   61.3  93.6   32.3    106.0    3.04   5.99**  12.6
    -------------------------------------------------------------------------
      including          78.1  82.1    4.0     13.1    3.96  19.23**  20.0
    -------------------------------------------------------------------------
        and              84.8  93.6    8.8     28.9    4.71   9.85**  21.2
    -------------------------------------------------------------------------
    *    Geotechnical drill hole inclined from vertical. The estimated true
           thickness would be approximately 87% of the intercept length,
           except SWC09-449 where it would be approximately 82%.
    **   Reported intersections contain samples with coarse visible gold.

“These excellent results wrap up a very successful exploration program completed in the first four months of 2009,” said Stephen Quin, President & COO of Capstone Mining. “The 2009 program discovered and delineated the exceptional Minto North deposit, discovered and delineated a high grade extension to the Ridgetop deposit, and continued to advance the Copper Keel trend,” he added. “However, the outstanding results of the year are those from Minto North, where our exploration team discovered a thick, high grade, shallow zone of copper mineralization with some exceptional gold grades.”

Drill Program

To date in 2009, 14,966m of diamond drilling in 86 holes have been completed, including six oriented geotechnical holes in support of a pit wall stability study as part of the Phase IV expansion study, which will assess potential new open pit mining centres on the Minto North, Area 2/Area 118 and the Ridgetop deposits. Drilling and geophysical surveying is set to resume at Mino North and the surrounding region in late June. New mineral resource estimates for the entire Minto property, including Minto North, are nearing completion, the results of which are expected to be announced in June 2009. These estimates will include all drilling completed to date, including almost all 2009 drilling.

    For current drill hole locations, please view the accompanying map:

http://capstonemining.com/_resources/2009-05-25-drill-hole.jpg.

    For a current view of drill results in priority areas please view the
    accompany map.

http://capstonemining.com/_resources/2009-05-25-red-dot.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. Geol., 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 statements” within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this document and Capstone Mining Corp. (hereinafter referred to as the “Company”) do not intend, and do not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect management of the Company’s expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and 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 Drill Results
                          --------------------------
         To accompany Capstone Mining News Release Dated May 26, 2009

    -------------------------------------------------------------------------
      Hole ID     Target    From    To  Interval Interval Copper Gold  Silver
    & Interval              (m)    (m)    (m)     (feet)    (%) (g/t)  (g/t)
    -------------------------------------------------------------------------
    09SWC-390
     to 419                        Assays Previously Released
    -------------------------------------------------------------------------
    09SWC-420* Area 118   51.1   57.8   6.7*  22.0* 0.60  0.08     1.4
    -------------------------------------------------------------------------
        and                241.6  247.9   6.3*  20.7* 3.65  1.43    17.4
    -------------------------------------------------------------------------
      including            242.9  246.3   3.4*  11.2* 6.12  2.38    30.1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-421                      Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-422* Area 118  255.5  262.0   6.5*  21.3* 0.40  0.06     1.4
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-423    Area 118   26.4   40.3  13.9     45.6    0.44  0.08     1.2
    -------------------------------------------------------------------------
        and                 69.5   77.5   8.0     26.2    0.76  0.10     1.6
    -------------------------------------------------------------------------
        and                290.2  320.3  30.1     98.8    0.55  0.06     1.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-424* Area 118   89.7   95.0   5.3*  17.4* 1.24  0.21     3.5
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-425    Area 118   82.2   90.9   8.7     28.5    0.60  0.18     2.3
    -------------------------------------------------------------------------
        and                110.0  114.2   4.2     13.8    0.68  0.00     0.8
    -------------------------------------------------------------------------
        and                261.8  291.4  29.6     97.1    0.49  0.06     1.5
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-426                      Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-427* Ridgetop   22.3   51.7  29.4*  96.5* 0.65  0.10     1.1
    -------------------------------------------------------------------------
     including              22.3   28.5   6.2*  20.3* 1.47  0.05     1.0
    -------------------------------------------------------------------------
        and                 42.7   50.2   7.5*  24.6* 0.95  0.32     2.5
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-428                      Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-429* Ridgetop   47.1   79.0  31.9* 104.7* 0.56  0.07     0.6
    -------------------------------------------------------------------------
      including             47.1   53.1   6.0*  19.7* 1.24  0.18     1.1
    -------------------------------------------------------------------------
        and                171.0  177.7   6.7*  22.0* 2.14  0.62     8.0
    -------------------------------------------------------------------------
      including            171.0  172.9   1.9*   6.2* 6.12  1.42    22.4
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-430                      Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-431* Ridgetop   34.7   51.5  16.8*  55.1* 0.32  0.07     1.1
    -------------------------------------------------------------------------
      including             35.7   38.4   2.7*   8.9* 0.94  0.29     3.4
    -------------------------------------------------------------------------
        and                 93.6  103.4   9.8*  32.2* 2.23  1.61    10.7
    -------------------------------------------------------------------------
      including            100.6  103.4   2.8*   9.2* 4.45  3.44    24.2
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-432 to
        441                        Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-442    Copper
                 Keel S     40.2   42.5   2.3      7.5    1.13  1.00     1.3
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-443 to
        445                        Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-446    Copper      Geochemically Anomalous - No Significant
                 Keel S                  Intersections
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-447    Copper
                 Keel S     70.4   90.7  20.3     66.6    1.84  1.61     8.2
    -------------------------------------------------------------------------
      including             78.3   87.8   9.5     31.2    2.96  2.80    13.9
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-448    Copper      Geochemically Anomalous - No Significant
                 Keel S                  Intersections
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-449* Minto
                 DEF       140.6  144.7   4.1*  13.5* 0.51  0.16     2.5
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-450    Copper
                 Keel S     71.8   80.9   9.1     29.9    0.40  0.12     0.8
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-451    Copper
                 Keel       74.1   77.8   3.7     12.1    1.56  0.91     7.8
    -------------------------------------------------------------------------
        and                203.2  218.6  15.4     50.5    0.56  0.23     2.0
    -------------------------------------------------------------------------
      including            212.2  218.6   6.4     21.0    1.13  0.54     4.3
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-452    Copper
                 Keel      173.9  176.7   2.8      9.2    2.84  1.44    12.6
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-453 to
        467                        Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-468    Minto
                 North      22.3   48.8  26.5     86.9    1.53 3.49**  4.9
    -------------------------------------------------------------------------
      including             22.3   32.5  10.2     33.5    2.19 8.57**  6.7
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-469 to
        473                        Assays Previously Released
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-474    Minto
                 North      61.3   93.6  32.3    106.0    3.04 5.99** 12.6
    -------------------------------------------------------------------------
      including             78.1   82.1   4.0     13.1    3.96 19.23** 20.0
    -------------------------------------------------------------------------
        and                 84.8   93.6   8.8     28.9    4.71 9.85** 21.2
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    09SWC-475                      Assays Previously Released
    -------------------------------------------------------------------------
    *    Geotechnical Drill hole inclined from vertical. The estimated true
           thickness would be approximately 87% of the intercept length,
           except SWC09-449 where it would be approximately 82%.
    **   Reported intersections contain samples with coarse visible gold.

SOURCE Capstone Mining Corp.