GeoVista Engaged for Hessjøgruva Technical Report

VANCOUVER, BC , June 27, 2022 /PRNewswire/ - Capella Minerals Ltd. (TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) (the "Company" or "Capella") is pleased to announce that GeoVista Aktiebolag ("GeoVista") has been engaged by the Company to complete a Canadian National Instrument 43-101 ("NI 43-101") compliant technical report for its recently-acquired and 100%-owned Hessjøgruva copper-zinc-cobalt project in Trøndelag Province, central Norway. GeoVista's independent technical report is expected to place the Hessjøgruva project on the path towards a maiden NI 43-101 compliant Mineral Resource Estimate, which in turn will underpin further drill hole planning and initial development-related studies.

On Behalf of the Board of Capella Minerals Ltd.

"Eric Roth"

___________________________
Eric Roth, Ph.D., FAusIMM 
President & CEO

Capella is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade copper(-zinc-cobalt) and gold deposits. With respect to its base and battery metals projects, the Company's current focus is on: i) the determination of a NI 43-101 compliant Mineral Resource Estimate for its 100% owned Hessjøgruva project in central Norway, which will subsequently lead to further drill hole planning and initial development-related studies, and ii) the discovery of further high-grade VMS-type deposits in district-scale land positions around the past-producing Løkken (Løkken Verk District) and Kjøli / Kongensgruve (northern Røros District) copper mines.

The Company's precious metals focus is on the discovery of high-grade gold deposits on the Katajavaara-Aakenus JV in Finland, its 100%-owned Southern Gold Line Project in Sweden, and its active Canadian Joint Ventures with Prospector Metals Corp (TSXV: PPP) at Savant Lake (Ontario) and Yamana Gold Inc. at Domain (Manitoba). The Company also retains a residual interest (subject to an option to purchase agreement with Austral Gold Ltd) in the Sierra Blanca gold-silver divestiture in Santa Cruz, Argentina.

This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of Capella, including the timing, completion of and results from the exploration and drill programs described in this release.  Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by Capella in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in Capella's most recently filed MD&A. Capella does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Capella Minerals Limited