Capstone Copper Corp. — Capital/Financing Update 2024

Feb 6, 2024

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February 5, 2024

VIA SEDAR+

TO: British Columbia Securities Commission (as Principal Regulator)

AND TO: Alberta Securities Commission Financial and Consumer Affairs Authority of Saskatchewan Manitoba Securities Commission Ontario Securities Commission Autorité des Marchés Financiers Nova Scotia Securities Commission Financial and Consumer Services Commission (New Brunswick) Prince Edward Island Securities Office Securities Commission of Newfoundland and Labrador Office of the Superintendent of Securities (Northwest Territories) Office of the Yukon Superintendent of Securities Superintendent of Securities (Nunavut)

Dear Sirs/Mesdames:

Re: Capstone Copper Corp. (the “Company”) – Prospectus Supplement dated February 5, 2024 (the “Prospectus Supplement”)

We refer to the Prospectus Supplement to the short form base shelf prospectus of the Company dated March 1, 2023 relating to the offering of common shares in the capital of the Company.

We consent to the reference to our name on the cover page of the Prospectus Supplement and under the headings “ Eligibility for Investment” and “Legal Matters and Experts” and to the inclusion and use of our opinion under the heading “ Eligibility for Investment ”.

We confirm that we have read the Prospectus Supplement and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from our legal opinions referred to above or that are within our knowledge as a result of the services that we performed in connection with such opinion.

Yours truly,

(Signed) “Blake, Cassels & Graydon LLP”

Blake, Cassels & Graydon LLP

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