Capstone
Announces Production And Sales For The First Quarter Of 2008
April 16, 2008
VANCOUVER, B.C. - Capstone Mining Corp.
("Capstone") is pleased to report production and sales results for
the first quarter of 2008 from its Cozamin mine located in Zacatecas State,
Mexico. With the expansion from 2,200 tpd to 3,000 tpd underway, the
Cozamin mine produced 202,656 tonnes during the first quarter of 2008.
Summarized results are shown below; there are no comparatives due to the
change in year end to December 31.
OPERATING AND SALES RESULTS
(all figures unaudited)
|
Total
Q1 -2008
|
|
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Ore milled (tonnes)
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202,656
|
|
|
Copper production (lbs)*
|
6.0M
|
Copper grade (%)
|
1.59
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Copper recovery (%)
|
84.2
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Copper sales (lbs)
|
6.9M
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Average Copper price***
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$3.59
|
|
|
Zinc production (lbs)
|
2.3M
|
Zinc grade (%)
|
1.35
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Zinc recovery (%)
|
40.6
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Zinc sales (lbs)**
|
0.7M
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Average Zinc price***
|
$1.21
|
|
|
Lead production (lbs)
|
1.7M
|
Lead grade (%)
|
0.65
|
Lead recovery (%)
|
60.2
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Lead sales (lbs)
|
1.3M
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Average Lead price***
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$1.33
|
* Copper production was lower in
February and March due to lower grade material from the upper levels being
fed through the mill as we are currently preparing infrastructure in the
lower high grade levels of the mine due to the expansion.
** 2M lbs of Zinc sold in April 2008
*** Average prices used on provisional invoices during the quarter.
Note: First quarter financial results will be reported April 30, 2008.
ABOUT CAPSTONE
Capstone is a Canadian based mining
company currently operating the 100% owned Cozamin copper-silver-lead-zinc
mine located in Zacatecas State, Mexico. Capstone has approximately 81.9
million shares outstanding and is well financed with no bank debt. More
information is available online at: www.capstonemining.com.
For further information about the
Company, please contact:
Chris Tomanik or Mark Patchett, Telephone: (604) 684-8894 / Facsimile: (604)
688-2180
Email: ctomanik@capstonemining.com, or mpatchett@capstonemining.com
This press release contains "forward-looking
information" that is based on Capstone's current expectations,
estimates, forecasts and projections. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause Capstone's actual results, level of activity, performance or
achievements to be materially different from those expressed or implied by
such forward-looking information. Such factors include, but are not
limited to: projected sales or production rates; uncertainties related
to drilling results; the ability to raise sufficient capital to fund
exploration; changes in economic conditions or financial markets; changes in
prices for costs; litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; technological or
operational difficulties or inability to obtain permits encountered in
connection with exploration activities; and labor relations matters.
This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be
considered carefully and readers should not place undue reliance on such
forward-looking information. Capstone disclaims any intention or
obligation to update or revise forward-looking information, whether as a result
of new information, future events or otherwise.
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