El Capitan Precious Metals : May 26, 2023 Business Update

from ECPN Board Chairman Doug Sanders

May 26, 2023

Your 'El Capitan' here… reporting in with a few updates. I have two updates for today:

• We recently received the annual tax bill from Lincoln County. In retrospect, a year ago I paid three years of delinquent taxes for 2017, 2018, and 2019 to keep the property from going to auction. We were still three years in arrears, on taxes due for 2020, 20221, and 2022. To keep the property off the auction block - yet again - I paid the total tax bill of $8,135.16. This covered all taxes due for El Capitan Ltd, and ECPN. And, as reported in a recent Business Update, all property is now held under ECPN.

• We have renewed our annual $3,000 registration with OTC, the agency that oversees the over-the-counter market - the OTC market - where securities that aren't listed on the major exchanges are traded. This is a necessary step toward getting our ECPN stock trading again… as we prepare our plan for updating our status and filings related to the SEC, Securities and Exchange Commission.

The funds to satisfy all of these corporate obligations came from the Bank of Doug Sanders… as there was some urgency in maintaining our status with the OTC and taking care of the tax obligations that prior Boards have neglected to address and satisfy. Total new money (just this week) that was needed to keep us moving toward profitability was $11,135.16. I hope you will view this new and additional investment on my part, as I do: evidence of my unfaltering commitment to the future of El Capitan and its shareholders.

We continue to be optimistic related to our funding and will keep you updated on that front. Once we have money in the bank we'll hit our to-do list of priorities - hard and fast.

Until then, stay tuned… keep the faith, and think GOLD.

Your El Capitan,
Doug

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