Capitan Silver Announces Arrival of 4th Drill Rig at the Cruz De Plata Project

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2026) - Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) ("Capitan" or "the Company") is pleased to report that a fourth (4^th) drill rig has arrived on site at the Company's Cruz de Plata silver-gold project in Durango, Mexico. The newly arrived core rig, which is expected to commence drilling imminently, joins a reverse circulation ("RC") rig and two core rigs that are already drilling on the property.

Highlights:

• Drilling activity continues to ramp up as the fourth (4^th) of four (4) rigs has arrived at Cruz de Plata

• This new rig is the third (3^rd) of three (3) diamond (core) drill rigs that have joined the existing RC drill rig that has been drilling on the property since March 2025

• The additional rigs are part of an aggressive 60,000-metre drilling campaign for 2026, which is the largest drill program in the Company's history

• All three new diamond drill rigs are focused on testing and expanding the high-grade silver zones identified at Cruz de Plata along strike and at depth

• Catalysts: 61 drill holes pending final assays: (36 core and 25 RC)

Newly Arrived Core Rig to Test High-Grade Targets East of Peñoles Fault, Below San Rafael

The newly arrived core rig's immediate focus will be testing high-grade targets east of the Peñoles Fault, proximal to the historically producing San Rafael area, while providing more information about mineralization intersected in previously reported drill holes 25-ERRC-20, 25-ERRC-32, 25-ERRC-43, and 26-SRRC-08 (see Figures 1 and 2, Target B).

The third core rig will also focus on confirming vertical continuity and expanding previously identified broad mineralization encountered by RC drilling in this target area down-dip. Target area B is another new, developing high-grade zone, and has been interpreted to contain multiple subparallel zones of silver mineralization that remain at an early stage of exploration, with only widely spaced, shallow drilling having taken place.

Testing Priority Targets in Three Main Areas

While the newly arrived core rig's immediate focus will be on testing Target B, the other core rigs are focused on expanding mineralization deeper at the following targets (see Figures 1 and 2):

• Target A: Core drilling is focused on expanding recently defined high-grade mineralization immediately to the west of the Peñoles Fault (see Figures 1 and 2, Target A). Drilling in this area will target mineralization both at depth and down plunge of previously reported holes 25-ERRC-12, 26, 34, 38, 52, and 26-ERDD-08.

• Target C: Core drilling is focused on targeting high-grade silver mineralization on the western end of the Jesus Maria Silver Trend, including the Gully Fault Zone, central portions of the Jesus Maria vein, and beneath portions of Capitan Hill, and will focus on extending the mineralized envelope deeper, while providing more information about mineralization intersected in previously reported drill holes 21-JMRC-01, 21-JMRC-10, and JM-DDH-13-06 (see Figures 1 and 2, Target C).

• RC drilling continues to focus on testing shallow targets along the Jesus Maria Silver Trend, mainly east of the Peñoles Fault.

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