Capitan Silver Receives Key Drill Permit for the Cruz De Plata Project and Commences Drilling on Untested High-Priority Regional Targets

About this update from Capitan Silver Corp

Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) ("Capitan" or the "Company") is pleased to report that it has received a key exploration permit at its Cruz de Plata silver-gold project in Durango, Mexico. The new permit allows the Company to significantly expand its permitted drill targets along the Jesus Maria Silver Trend, while also allowing for drill testing of several mineralized structures to the east, northwest, and north on the concessions which were recently acquired from Minera Fresnillo S.A. de C.V. (see Capitan news release dated August 22, 2025) and had not been previously drilled. Highlights: Alberto Orozco, CEO of Capitan Silver, commented: "We are very excited to be drilling these prospective, untested high-priority targets at Cruz de Plata. These recently permitted targets allow Capitan to extend its drilling beyond the 2.5 km Jesus Maria Silver Trend, where we are currently conducting deeper, down-dip drilling. The addition of these targets is significant because it enables the Company to test the broader mineralized system and true large-scale potential of the project. "The RC drilling of these new target areas will follow on the proven exploration method Capitan applied in 2025 to expand the Jesus María trend on strike. I believe using RC, which allows us to drill more metres in a shorter period of time and for a considerably lower cost, is the most intelligent and capital efficient approach to drill test these new targets, as risk is minimized. "We have entered a very exciting stage in the evaluation of the Cruz de Plata mineral system as we are concurrently testing the full strike length of the system and testing the system at depth in the Jesus María Silver Trend. With four drill rigs now at work on our 60,000-metre drill program, our understanding of the mineral system will evolve very quickly" Discussion of Expanded Drill Program In Q4 2025, the Company published a new mineral system concept for the Cruz de Plata project containing multiple never-before-drilled targets (see Capitan news release dated October 1, 2025). This new mineral system not only expanded the strike length of the previously identified Jesus María high-grade Silver Trend to the east, northwest, and north, but also included several radial structures...

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