7/20/20CORPORATE PRESENTATION JULY 2020

Gold & Silver Exploration in Mexico

Forward-Looking StatementsThis document contains forward-looking statements and factual information that are current as of the date the document was originally created for Capitan Mining Inc. (“the Company”) disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward looking statements include, but are not limited to, statements with respect to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data.Forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of properties; future prices of mineral resources; accidents, labor disputes and other risks of the mining industry; ability to obtain financing; and delays in obtaininggovernmental approvals of financing. Any statements, opinions, projections, forecasts or other material contained in this presentation do not constitute a commitment, representation or warranty by the company or its directors, officers, agents or employees. The directors, officers, agents and employees of the company shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in this presentation. This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of the company. An investment in the company is considered to be speculative in nature. Each individual should rely solely upon its own investigations and inquiries with respect to the company and agrees it will not in any way rely upon this presentation. The company recommends that you consult your own professionaladvisor(s).

Qualified PersonThe scientific and technical data contained in this presentation relating Capitan’s mineral properties was reviewed by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources with Capitan being a subsidiary at this time, who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Recently updated NI43-101 completed by Independent QPs

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Disclaimer

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Investment Opportunity

• A new gold and silver company focused in Durango, spun out of Riverside Resources

• An advanced exploration story with just:• 10,000m of drilling on the Penoles Project have identified resources of roughly 500 Oz Au equivalent

• Capitan Hill: 305,000 oz @ 0.46 g/t Au

• Jesus Maria: 15M oz Ag @ 62.3 g/t Ag

• Mineralization remains open at depth and along strike

• Additional Exploration Upside: • Several regional Au & Ag targets nearby – Pinchazo & San Raphael

• Management with track record of delivering value for shareholders from Mexican assets – Argonaut Gold, Pediment Gold and Linear Gold.

• Attractive valuation $5.4M with $2M in cash – implied $3.4M for ~500k oz Au Eq

• Tight structure with high quality shareholder base – Seed round financing for Capitan - opportunity to co-invest alongside management and strategic partners

Share Structure

Riverside’s major shareholders (~60% Capitan Post $2M raise)

Shares to Riverside Shareholders* Warrants (expire April 2021)* Options (only RRI staff)*

17.5 million4.8 million1.2 million

Pre-Financing Market Cap (Basic) $3.5 M (at $0.20/share)

Shares Issued in Current Financing ($0.20/share) Warrants Issued in Current Financing

10 million 5 million

Post Financing Market Cap (Basic) $5.5M (at $0.20/share)

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* As of July 8th, 2020

RightTeam

QualityAsset

Leverage

Growth Strategy

• Team worked on multiple +1M Oz Au projects in Mexico• Participated in the precious metals M&A activity in Mexico:

Transactions 2005-2012 (Argonaut Gold, Pediment, and Linear Gold)

• 100% owned• Starting resource approx. 500,000 Oz Au eq• Good jurisdiction, infrastructure and exploration upside

• Strong need for advanced gold-silver projects• Right time to get positioned with interest increasing in

mining sector and rising gold prices

• Expand resources• Test high-grade targets• Progress permitting

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Capitan Approach & Business Model

Capitan Team – Directors, Advisors, and Technical Team

Key Advisors:Andrew Brodkey, LegalBob Mueller, Business DevelopmentGordon Fernandes, Capital MarketsJames Hesketh, CEO VivaGoldTom Burkhart, Former VP Exploration Argonaut Gold

Technical Team Mexico:

Óscar Jiménez, Project ManagerPrevious exploration manager for Pediment and Argonaut

Isaac Antuna, Data and QA/QC Consulting Previous work for Linear Gold, Pediment and Argonaut

Rafael Sánchez, Metallurgical ConsultantPrevious work for numerous companies including Pediment and Argonaut

Héctor Mendivil, GIS and modelling

Technical Team Board and Advisors - Strong Industry Presence

Management & Board:Alberto Orozco, CEO & DirectorJohn-Mark Staude, Chairman - CEO RiversideArturo Bonillas, Director - CEO Magna GoldRob Scott, CFO

Management and Board

Key Advisors:Andrew Brodkey, LegalBob Mueller, Business DevelopmentJames Hesketh, CEO VivaGoldTom Burkhart, Former VP Exploration Argonaut Gold

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16 years of experience in the mining industry in exploring and advancing +1 million Oz Au projects towards production. Alberto is currently the President of the SonoraMining Cluster in Mexico.

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Capitan Team – Alberto Orozco, CEO

+1M oz Au projects

Projects from exploration to Production in Mexico

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Track record of creating and unlocking value by expanding gold-silver resource projects and experience in permitting, advancing into production and operations

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Capitan Team – Track Record of Success in Mexico

Project Company Resources Comment

San Agustín, Durango, Mexico

Argonaut Gold 845k Oz Au M&I27.1M Oz Ag M&I

Successfully expanded the resource- doubling the oxide resource.Currently in production

El Castillo, Durango, Mexico

Argonaut Gold 1.7M Oz Au M&I (Oxides)1.5M Oz Au (sulfides)

Worked on continuous exploration + ore control. Currenty in production

La ColoradaSonora, Mexico

Pediment Gold /Argonaut Gold

1.07M Oz Au M&I Expanded from historical 300k Au resource.Strategic deals to consolidate project.Continuous exploration and ore control.Currently in production

San AntonioBCS, Mexico

Pediment Gold /Argonaut Gold

1.74M Oz Au M&I Worked from discovery to development.Strategic agreements to consolidate.Community-government relations.

IxhuatanChiapas, Mexico

Linear Gold 1.04M Oz Au M&I Exploration and community-government relations.

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Why an open-pit, heap leach project?

• Lower exploration costs

• Faster pace of development

• Lower capital intensity

• Focus on project economics and future

cash flow generation

Capitan – Proven Path to Value Creation

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El Castillo San Agustin Peñoles ProjectLocation Durango, Mexico Durango, Mexico Durango, Mexico

Resource classification M&I M&I Inferred

Resource Size at acquisition

1.1M Oz Au MI&IAt acquisition

398k Oz Au I+I Oxide16.5M Oz Ag I+I Oxide

305k Oz Au15M Oz Ag

Grade 0.35 g/t Au 0.40 g/t Au16 g/t Ag

0.46 g/t Au60 g/t Ag

Starting land package 216.5 Hectares. (2008) 1,065 Hectares. (2014) 2,290 Hectares.

Purchase price Aquisition Castle Gold Corp (2010)C$112M

From Silver Standard(2013)$90M cash and stock

??

Mine life Producing since 2005 8-10 years ??

Highlight Cash flow over $82M in 2012 mostly from El Castillo mine

.

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ü Located in prolific district of mineral occurrences with operating mines

üGood mine location and infrastructure (road, power to the property)

üGentle topography

üCommunity agreement in place for 10 years. Good relationship for 11 years of work

üFriendly mining State of Durango

üProperty located in one of the first districts ever explored and mined by the largest mining company in Mexico (Minera Industrias Peñoles)

Location – Peñoles Project

DurangoState

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Peñoles Project – Exploration Potential

CAPITAN

JESUS MARIA SAN RAFAEL

Aeromag –hightargets

Zone of historical production

Inferred resource:Only 10,000m of drilling305k Oz Au at 0.46 g/t Au at Capitan and 15M Oz Ag at 62.3 g/t at Jesus María.

Open on strike and at depth

Capitan and Jesus Maria Zone

Pinchazo TargetCovered target with float rock samples grading up to 3.1 g/t Au over an area roughly the size of El Capitan-Jesus Maria

San Rafael TargetZone of historical production

Only 5, broadly-spaced drill holes drilled. All intersected mineralization.

Additional exploration warranted to test potential of San Rafael structures.

Gold equivalent* highlights included:

SR DDH 14-05: 8.9 m at 2.02 g/t Au Eq.SR DDH 14-01: 3.08 m at 2.28 g/t Au Eq.SR DDH 14-01: 2.3 m at 1.46 g/t Au Eq.

Covered target showing magnetic highs, similar to El Capitan and Jesus Maria zone.

Capitán 2 Target

Drill intercepts: Capitan and Jesus María zones drill highlights

Hole From To Length Au ppmCDDH-12-13 41.55 165.85 124.3 0.61CDDH-12-18 0.95 131.15 130.2 0.56including 42.8 59.95 17.15 2.38and incl 53.95 57.95 4 6.08CDDH-12-16 32.97 185 152.03 0.46incl 62.45 65.45 3 2.77CDDH-11-03 25.45 130.7 105.25 0.58including 52.3 122.2 69.9 0.79including 78.75 85.8 7.05 1.82including 91.5 97.9 6.4 2.24CDDH-11-18 51.7 104.7 53 0.95including 82.35 97.9 15.55 2.10CDDH-11-16 23.88 104 80.12 0.55including 42.7 101.5 58.8 0.70and incl 61.7 76.1 14.4 1.52CDDH-12-02 37.6 141.35 103.75 0.39CDDH-12-01 36.7 123.1 86.4 0.45including 81.65 123.1 41.45 0.72CDDH-11-02 30.2 96.2 66.1 0.46

including 71.0 75.6 4.6 2.81CDDH-12-12 110.2 190.69 80.49 0.38including 123.5 154.83 31.33 0.56

Hole From To Length Au ppm Ag ppmJM_DDH_14_24 52.65 94.6 41.95 0.38 227.24including 78.95 86.1 7.15 1.24 988.43and 105 107.35 2.35 2.30 160.00JM_DDH_14_27 1.95 39 37.05 0.40 125.05including 18.4 23.1 4.7 1.33 398.21SR-DDH-14-01 190.32 193.4 3.08 1.19 79.23

Gold-silver high-grade veins

Polymetallic high-grade veinsHole From To Length Au ppm Ag ppm Pb% Zn%JM_DDH_13_09 67.85 88.6 20.75 0.41 66.40 1.55 2.23JM_DDH_13_06 66.6 74.45 7.85 0.19 90.40 1.53 2.66and 79.4 80.3 0.9 0.36 3409.10 3.42 7.12JM_DDH_13_07 100.7 102.8 2.1 0.21 279.50 4.09 7.57and 114.7 116.7 2 0.23 988.50 0.34 0.49JM_DDH_13_03 164.55 166.45 1.9 0.16 255.5 0.74 1.58and 168.4 170.15 1.75 0.00 364.8 1.87 4.16and 171.85 172.4 0.55 0.00 579.90 4.93 5.76JM_DDH_13_02 79 91.25 12.25 0.16 70.09 0.25 0.41

Long intercepts of gold mineralizationCAPITAN ZONE JESUS MARÍA ZONE

The Capitan gold zone is a tabular body with long

intervals of continuous mineralization that start from surface.

The Jesus María zone has high-grade silver intercepts in addition

to longer intervals of outcropping silver mineralization.

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Peñoles - 43-101 Inferred Resources

Open

(1) See NI 43-101 for additional information and data. (2) “Base case” cut-off grade of 0.25g/t Au and 30g/t Ag(3) Resources are not mineral reserves as the economic viability has not been demonstrated.

Capitán

50 drill holes (~7,000m)

305,000 Oz Au

20.7 million tonnes @ 0.46 g/t Au

Jesús María

30 drill holes (~3,100m)

15.2 million Oz Ag

7.6 million tonnes @ 62.3 g/t Ag

Resource zone only contains 80 drill holes and remains open on strike and down dip

Resource does not include San Rafael zone which has five drill holes that have interesected gold-silver mineralization

Open

Open

Conceptual Isometric view of grades shells at projected cut-off grades relative to floating cone pit shells – open pit potential

7.15m @ 988 g/t Ag and 1.24 g/t Au2m @ 988.5 g/t Ag, 0.23 g/t Au,0.9m @ 3,409.1 g/t Ag, 0.36 g/t Au, 3.42% Pb and 7.12% Zn

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Mineralization Open on Strike and at Depth

El Capitán-Jesús María Cross Section (looking west)The cross section has a strike of 045 and shows the Leapfrog >0.1ppm Au shell. The section shows three different areas of potential: 1) 50m infill drilling to test continuity of mineralization and improve resource classification; 2) Down-dip drilling to test for expansion of the mineralization to the south and 3) The zone between the Capitán-Gold and Jesús María-Silver zones

Mineralization open for growth

Resource zone only contains 80 drill holes and remains open on strike and down dip

Cross Section and Targets

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Additional Targets – San Rafael Zone

High grade silver and gold veins with initial drill testing that warrants follow up drilling and exploration

First 5 drill holes at the San Rafael area intersected key mineralized veins

Additional exploration warranted to test high grade mineral potential along San Rafael structures

Gold equivalent* highlights included:

SR DDH 14-05: 8.9 m at 2.02 g/t Au Eq

SR DDH 14-01: 3.08 m at 2.28 g/t Au Eq

SR DDH 14-01: 2.3 m at 1.46 g/t Au Eq

High priority exploration target

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Additional Targets - Pinchazo Zone

Large, 1.8Km-long, surface

gold anomaly.

Surface, grab samples with

numerous +1ppm Au samples

and up to 3.5ppm Au

Not yet drill tested.

Represents additional

exploration upside for project.

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Summary

ü A project with starting gold-silver resources in Mexicoü Management with track records in similar assets in Mexicoü Strong exploration upside with multiple targetsü Tight share structure with high quality shareholder baseü Great entry point in seed financing

Contact Us

Alberto Orozco, Chief Executive Officer+52 1 662 353 0802aorozco@rivres.com

John-Mark Staude, Director +1 604 338 7742jmstaude@rivres.com

www.rivres.com