Mr. Daniel Sampieri reports

CAPSTONE COPPER PROVIDES UPDATE ON OPERATIONS

Capstone Copper Corp. has provided an update on operations, including the planned restart of Pinto Valley and the risks of the continuing national trucker strike in Chile.

At Pinto Valley, plant operations were expected to resume in early November. However, during commissioning of the primary crusher, it was identified that additional maintenance was required on a few of the major mechanical components. This has extended the scope and duration of the planned maintenance as the specific components required are being manufactured off-site by the original equipment manufacturer. The primary crusher is expected to be recommissioned in mid-December, 2026.

In the interim, the company is redeploying temporary mobile crushing equipment. This is expected to enable a partial restart of the concentrator in mid-November, ahead of the primary crusher returning to service. During this interim period, the company estimates a throughput capacity of up to 40,000 tonnes per day.

The company expects the additional downtime at Pinto Valley to impact 2026 copper production by approximately 5,000 tonnes over the rest of the year, depending on the timing of the interim restart and the recommissioning of the primary crusher. As such, the company is adjusting the bottom end of its 2026 consolidated copper production guidance (1) to 195,000 tonnes, from 200,000 tonnes originally.

A national strike has been initiated in Chile by a civic movement and a coalition of independent trucking associations in response to elevated fuel prices. This strike presents a risk to the company's 2026 production expectations associated with the suspension of concentrate and cathode shipments, as well as the delivery of key consumables such as fuel and sulphuric acid. At this time, production at both Mantoverde and Mantos Blancos remains unimpacted by the strike, attributable to preventative measures taken before the strike began and storage capacity available on site. The company will continue to implement mitigation measures where possible to avoid impacts to production associated with the national trucker strike.

About Capstone Copper Corp.

Capstone Copper is an Americas-focused copper mining company headquartered in Vancouver, Canada. Capstone's operating portfolio of assets includes the Pinto Valley copper mine located in Arizona, United States, the Cozamin copper-silver mine located in Zacatecas, Mexico, the Mantos Blancos copper-silver mine located in the Antofagasta region, Chile, and the Mantoverde copper-gold mine, located in the Atacama region, Chile. Capstone's growth pipeline includes the fully permitted Santo Domingo copper-iron-gold project, located approximately 35 kilometres northeast of Mantoverde in the Atacama region, Chile, as well as a portfolio of exploration properties in the Americas.

Capstone Copper's strategy is to unlock transformational copper production growth while executing on cost and operational improvements through innovation, optimization, and safe and responsible production throughout its portfolio of assets. The company focuses on profitability and disciplined capital allocation to surface stakeholder value. It is committed to creating a positive impact in the lives of its people and local communities, while delivering compelling returns to investors by responsibly producing copper to meet the world's growing needs.

(1) Two thousand twenty-six consolidated copper production guidance includes a full year of Cozamin results, pending a sale to Luca Mining Corp. See press release dated Sept. 21, 2026, for details.

We seek Safe Harbor.