ORION MINE FINANCE PROVIDES UPDATE ON ITS BENEFICIAL OWNERSHIP OF COMMON SHARES OF CAPSTONE COPPER CORP.

TORONTO, April 10, 2024 /CNW/ - Orion Mine Finance Management LP announced today that Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP (collectively, "Orion"), completed the previously announced sale of a total of 62,400,000 CHESS depository interests (each a "CDI") over an equal number of common shares (each a "Common Share") of Capstone Copper Corp. ("Capstone") to Macquarie Capital (Australia) Limited, Canaccord Genuity (Australia) Limited and RBC Capital Markets (Australia) (collectively, the "Managers"), pursuant to a block trade agreement (the "Block Trade Agreement") between Orion and the Managers, at a price of A$9.50 per CDI for gross proceeds to Orion of approximately A$592,800,000 (the "Transaction").

Immediately prior to the Transaction, Orion beneficially owned 152,936,179 Common Shares, representing approximately 20.3%of Capstone's issued and outstanding Common Shares (based on a total of 753,464,743 Common Shares being issued and outstanding on the date hereof). Immediately following the Transaction, Orion beneficially owned 90,536,179 Common Shares, representing approximately 12.0% of Capstone's issued and outstanding Common Shares (based on a total of 753,464,743 Common Shares being issued and outstanding on the date hereof), which is a decrease of approximately 8.3% in Orion's securityholding percentage in respect of the Common Shares.

Orion's decision to dispose of the Common Shares pursuant to the Transaction was made as a result of investment considerations including price, market conditions, availability of funds, evaluation of alternative investments and other factors. Orion may, from time to time, acquire additional securities of Capstone and/or dispose of securities of Capstone as it may deem appropriate. Orion currently has no other plans or intentions that relate to, or would result in, acquiring additional securities of Capstone, disposing of securities of Capstone, or any of the other actions requiring disclosure under the early warning reporting provisions of applicable securities laws, but depending on market conditions, general economic and industry conditions, trading prices of Capstone's securities, Capstone's business, financial condition and prospects and/or other relevant factors, Orion may develop such plans or intentions in the future. Pursuant to the Block Trade Agreement, Orion has agreed, subject to certain limited exceptions, not to sell any Common Shares or other securities of Capstone for a period of 90 days from the date of the Block Trade Agreement.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR+ profile of Capstone  at www.sedarplus.com. To obtain a copy of the early warning report, you may also contact David Blassberger, Deputy General Counsel of Orion Resource Partners (USA) LP at 212-596-3491. The address of each of Orion Fund JV Limited, Orion Mine Finance Fund II LP and Orion Mine Finance (Master) Fund I-A LP is Cumberland House, 1 Victoria Street, 7th Floor, Hamilton, HM 11, Bermuda . Capstone's  head office is located at 2100 ? 510 West Georgia Street , Vancouver, British Columbia ,  V6B 0M3.

Certain statements in this press release are forward-looking statements and are prospective in nature, including statements with respect to Orion's future intentions regarding the securities of Capstone. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Orion is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Orion Mine Finance Management LP