/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

VANCOUVER, BC, Feb. 1, 2024/CNW/ - Capstone Copper Corp. ("Capstone" or the "Company") (TSX: CS) and Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP (collectively, "Orion" or the "Selling Shareholders") jointly announce that they have entered into an agreement with a syndicate of underwriters led by RBC Capital Markets, as Lead Bookrunner and including National Bank Financial and Scotiabank as Joint Bookrunners (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis from the Company and Orion, a total of 59,520,000 common shares of Capstone ("Common Shares") at a price of C$6.30 per Common Share (the "Offering Price"), for aggregate gross proceeds of C$374,976,000 (the "Offering"). The Company has granted the Underwriters an option, exercisable in whole or in part at any time up to 30 days after the closing of the Offering, to purchase up to an additional 8,928,000 Common Shares from the Company at the Offering Price (the "Over-Allotment Option") which, if exercised in full, would increase the aggregate gross proceeds of the Offering to C$431,222,400. The Offering is expected to close on or about February 8, 2024 and is subject to customary closing conditions, including Capstone and Orion receiving all necessary regulatory approvals.