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CAPSTONE COPPER NEWS RELEASE • TSX : CS capstonecopper.com Capstone and Mantos Copper Combine to Create Capstone Copper , a Premier Copper Producer With Transformational Near - Term Growth November 30 , 2021 VANCOUVER , British Columbia - ( All amounts in US $ unless otherwise specified ) Capstone Mining Corp. ( " Capstone " or the " Company " ) ( TSX : CS ) and Mantos Copper ( Bermuda ) Limited ( " Mantos " ) are pleased to announce that they have entered into a definitive agreement ( the " Agreement " ) to combine pursuant to a plan of arrangement under the Business Corporations Act ( British Columbia ) ( the " Transaction " ) . Upon completion of the Transaction , Mantos will be renamed Capstone Copper Corp. ( " Capstone Copper ” ) , and will remain headquartered in Vancouver , B.C. Capstone Copper will apply to the Toronto Stock Exchange to list the Capstone Copper shares on the Toronto Stock Exchange . Pursuant to the Agreement , each Capstone shareholder will receive 1 newly issued Capstone Copper share per Capstone share ( the “ Exchange Ratio " ) and the existing Mantos shareholders will continue to hold Capstone Copper shares . Upon completion of the Transaction , former Capstone and Mantos shareholders will collectively own 60.75 % and 39.25 % of Capstone Copper , respectively , on a fully- diluted share basis . This press release features multimedia . View the full release here : https://www.businesswire.com/news/home/20211130005565/en/ Following completion of the Transaction : • John MacKenzie , Executive Chairman and Founder of Mantos , will become the Chief Executive Officer of Capstone Copper • Darren Pylot , President & CEO and Director of Capstone , will become Executive Chair of Capstone Copper • The new board of directors will be composed of seven directors , including the Executive Chair , CEO and Lead Independent Director , George Brack • Giancarlo Bruno , CEO of Mantos , will be responsible for the Chilean operations of the combined business Concurrent with the announcement of the Transaction : • Cashel Meagher , formerly SVP and COO of Hudbay Minerals Inc. , will become President & COO of Capstone , effective January 5 , 2022 • Brad Mercer , SVP and COO of Capstone , will transition to a newly created role as SVP , Strategic Projects , effective January 5 , 2022 The Transaction will establish Capstone Copper as a premier copper producer with a diversified portfolio of high- quality , long - life operating assets focused in the Americas with an extensive pipeline of near - term organic growth opportunities . Darren Pylot stated , " This transaction is in - line with our strategic vision of growing a multi - asset and sustainable copper business in the Americas . The combination of these two companies provides transformational near - term growth and further deepens our bench strength , particularly with respect to mine building , operational and leadership experience . I'm excited to join forces with John MacKenzie in one integrated team . John brings impressive global mining experience and will be a great addition to further enhance our culture of operational excellence across the combined portfolio . " Mr. Pylot added , " I would also like to welcome Cashel Meagher as President & COO . Cashel is a proven mine builder and operator with extensive experience in South America . He is an innovative leader and will head our plan for continuous improvement . I would like to thank Brad Mercer ( SVP & COO ) who has been an instrumental leader in the organization . He will now lead key growth projects in North America as SVP , Strategic Projects . Copper is increasingly being recognized as a critical metal to a greener future , and we continue to strive to Page 1