CAPSTONE ANNOUNCES PRODUCTION AND SALES FOR THE THIRD QUARTER OF 2008
October 28, 2008
VANCOUVER, B.C. � Capstone Mining Corp. (�Capstone�) is pleased to report production and sales results for the third quarter of 2008 from its Cozamin mine located in Zacatecas State, Mexico. Summarized results are shown below;
OPERATING AND SALES RESULTS (all figures unaudited)
|
Q3 - 2008 |
Q2 - 2008 |
Q1 - 2008 |
|
|
|
|
Ore milled (tonnes) |
202,142 |
206,034 |
202,656 |
|
|
|
|
Copper production (lbs) |
6.7M |
6.7M |
6.0M |
Copper grade (%) |
1.67 |
1.66 |
1.59 |
Copper recovery (%) |
89.3 |
88.9 |
84.2 |
Copper sales (lbs) |
6.0M |
6.8M |
6.9M |
Average Copper price* |
$3.32 |
$3.80 |
$3.59 |
|
|
|
|
Zinc production (lbs) |
2.6M |
2.9M |
2.3M |
Zinc grade (%) |
1.56 |
1.32 |
1.35 |
Zinc recovery (%) |
45.4 |
49.0 |
40.6 |
Zinc sales (lbs) |
1.9M |
2.9M |
0.7M |
Average Zinc price* |
$0.78 |
$0.91 |
$1.21 |
|
|
|
|
Lead production (lbs) |
1.6M |
1.5M |
1.7M |
Lead grade (%) |
0.52 |
0.56 |
0.65 |
Lead recovery (%) |
69.3 |
59.7 |
60.2 |
Lead sales (lbs) |
0.9M |
2.0M |
1.3M |
Average Lead price* |
$0.85 |
$1.00 |
$1.33 |
|
|
|
|
Silver production (oz�s) |
331,000 |
330,000 |
338,000 |
Silver sales (oz�s) |
259,000 |
343,000 |
306,000 |
Silver price |
$8.40 |
$8.40 |
$8.40 |
* Average prices used on provisional invoices during the quarter.
The third quarter financial results will be reported after market close on Thursday, Nov 6, 2008.
Capstone will host a conference call on Friday, November 7 at 8:30 AM Pacific Time (11:30 AM Eastern Time) to discuss these results. The conference call may be accessed by dialing 1.866.365.1119 in North America or 1.416.849.7329 Internationally, please ask for the Capstone Mining Corp. conference call. The conference call will be archived for later playback until Friday, November 14, 2008 and can be accessed by dialing 1.866.501.5559 and the passcode is 21287742#.
Mr. Robert Barnes, P.Eng., Vice-President, Operations of Capstone, who is a �qualified person� under National Instrument 43-101, has reviewed and approved the technical aspects of this news release.
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 80.3 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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