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Capstone Commences US$3 Million Resource Expansion Drill Program at Minto Copper-Gold Mine

Friday, Jan 30, 2009

Capstone Mining Corp. today announced that its 2009 exploration drilling at the high grade Minto copper-gold mine located in the Yukon commences. The principal exploration objectives for 2009 include resource definition drilling at the Area 118 and Ridgetop deposits in support of Capstone's proposed Phase IV expansion study (targeting increased daily throughput of 4,000-5000tpd), and exploration drilling at the 2008 high grade Copper Keel discovery.

""Three years of consistently strong exploration results, which are rapidly being converted into resources and, once the Phase IV study is complete, hopefully reserves, clearly justify a sustained commitment to continued exploration,"" said Stephen Quin, President & COO of Capstone Mining Corp. ""When we stopped drilling in 2008, the northern side of the Area 2/118 deposit and eastern side of the Ridgetop deposit remained open to expansion, which potential will be tested in the coming months. The Copper Keel discovery opens up a whole new opportunity for high grade mineralization that clearly warrants follow-up drilling.""

Updated mineral resource estimates for the entire Minto project, incorporating the results of the very successful 24,000m, 120-hole 2008 drill program, are on schedule and are expected to be complete within the next three months.

2009 Exploration Priorities

The principal priorities for the 2009 exploration program will be to:

1. Continue step out drilling to the east and southeast at the Ridgetop deposit, and infill drilling at southeast Ridgetop, with the objective of defining and extending near surface, thick zones of mineralization outlined in 2008;

2. Evaluate potential for additional high grade mineralization along the north flank of the Area 118 deposit, immediately west of Area 2, where previous drill holes may have stopped short of depth required to intercept the high grade mineralization defined immediately to the south;

3. Conduct preliminary, wide spaced drilling of the highly prospective Copper Keel area, where three previous drill holes intersected high grade copper-gold mineralization within a strong magnetic anomaly that measures over 600m by 250m;

4. Conduct geotechnical drilling to gain detailed rock quality and pit wall stability data at Ridgetop and Area 2/Area 118 in support of the ongoing Phase IV expansion study.

2009 Drill Program