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Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study.

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Cornerstone Capital Resources Inc.

lockPrivateGroup

Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% int......

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8020Admin

11 hours

8020Admin posted a press release Cascabel Exploration Update - Pre-Feasibility Work Program & Alpala Drilling Campaign in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 19, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the following update on the exploration program at its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador. The Company has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-23Figures.pdf.


HIGHLIGHTS:



  • An additional 68,354m of drilling has now been completed since the release of the updated Mineral Resource on November 20, 2018 (MRE #2)1.  Over 201,930m of resource drilling has now been assayed ahead of the upcoming third Mineral Resource update (MRE#3) later this year.

  • Resource extension drilling at the Alpala Deposit continues targeting extensions to high-grade outliers peripheral to it at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast, and with drilling also targeting mineralization at the newly identified Alpala Southwest area.

  • Cascabel drilling fleet expanding - 15 drill rigs are expected to be active on the project by September 2019 as the Company bolsters its fleet, expediting the planned Alpala Deposit Pre-Feasibility Study (PFS).

  • Drilling is focused on continued resource extension and infill drilling along the Alpala trend as well as geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work. 


FURTHER INFORMATION:


Cascabel is located in northwestern Ecuador in an under-explored northern section of the Andean Copper Belt, only a three-hour drive north of Quito, close to water, power supply and Pacific ports (Figure 1: Project Location & Infrastructure).


Project operator SolGold is encouraged by recent resource upgrade drilling which was targeted to include the vast majority of medium (>0.7% copper equivalent “CuEq”2) and high grade (>1.5%CuEq) tonnage within the criteria for Indicated Resources for the upcoming third Mineral Resource update (MRE #3) later this year.  SolGold is also pleased with the progress of new drilling taking place at Alpala Northwest, Trivinio, and Alpala Southeast, as well as drilling at the newly identified Alpala Southwest area, all of which target further growth to the existing Alpala Deposit. 


Alpala Drilling Campaign


A total of 216,522m of diamond drilling has been completed at the Cascabel project to date, with 205,072m completed at the growing Alpala Deposit, 4192m completed for geotechnical and hydrogeological testing, and 7,258m completed at Aguinaga prospect (Figures 2 and 3: Drill Hole Location Plans).


Greater geological and structural understanding is leading to identification of targets adjacent to the main resource, with drilling now targeting mineralization at several locations.


Infill drilling


An additional 68,354m of drilling has now been completed since the release of MRE #2 in January 2019.  Over 201,930m of resource drilling has now been assayed ahead of the upcoming MRE #3, with 3,142m of assays pending.


Additional Resource targets and extension drilling


Growth in the existing resource base at Alpala is targeted at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast, an example being recent Hole 106 which intersected 355m of copper sulphide mineralization outside the existing resource area at Alpala North (Figures 3 & 4).


Despite further drill testing of extensions, the Alpala North targets are still open to the north, as shown by Hole 75 intersection: 1918m @ 0.53% CuEq  (0.41% Cu; 0.19 g/t Au, from 320m depth, true width 767m), 288m of which lies outside the existing Inferred Resource area.


The potential at Trivinio is supported by the Hole 93 intersection: 862m @ 0.43% CuEq (0.32% Cu, 0.16g/t Au, from 1314m depth, 345m true width), 520m (true width 208m) of which lies outside the existing Inferred Resource area.


The newly identified Alpala Southwest area also presents a significant target now being tested by Hole 114.


Targeted grade improvement drilling


Recent and current drilling at Alpala is also targeting extensions to high-grade outliers peripheral to the main deposit.  High grade outliers currently still not closed off by drilling, occur at Alpala Northwest, Alpala East, and Alpala Southeast, and support the potential for further growth in the existing high grade resource tonnage. Follow up drilling is designed to infill and improve grades of the existing resource base as areas previously modelled at lower grades are updated with assay data afforded by new drilling.  Recent discoveries of previously unknown higher grade (>1.5%CuEq) and medium grade (>0.7% CuEq) mineralization intersected within existing low grade Inferred Resource areas at Alpala highlight the potential for upgrades to the existing resource base at Trivinio (Hole 93), Alpala North (Hole 75), Alpala Northwest (Hole 86), and Alpala South (Hole 89) and Alpala north east (Hole 106).


Discovery of a previously unknown QD10 (Quartz Diorite) source intrusion at Alpala Northwest, intersected in Hole 86: 318m @ 0.67% CuEq (0.54% Cu; 0.22 g/t Au, from 1052m depth, true width 127m) including 100m @ 1.34% CuEq, highlights the potential for further high grade resource extension as the 2019 drilling campaign continues.


The Alpala South mineralization is still not closed off by drilling and is open to the south and towards surface, as revealed by the Hole 89 intersection: 420m @ 0.61% CuEq (0.43% Cu; 0.30 g/t Au, from 334m depth, true width 168m).


For these reported results, sample preparation was performed by ALS Quito, and analysis performed by ALS Lima. Both laboratories are independent of SolGold and are accredited for the analysis methods used.


Geotechnical, hydrogeological and sterilization drilling


Geotechnical, hydrogeological and sterilization drill testing of plant and infrastructure sites, and underground and surface development facilities is ongoing at Cascabel.


2019 Pre-Feasibility (PFS) Work Program


The 2019 drilling campaign at Cascabel is presently utilizing 9 drilling rigs, comprising 8 man-portable machines and 1 large track-mounted machine (Figures 2 and 3).  The drilling fleet is currently expanding, from 9 man-portable machines to a total of 15 rigs expected to be active on the project by September 2019, bolstering the drilling fleet as the company expedites data collection ahead of the planned Alpala Deposit Pre-Feasibility Study (PFS) deadline by year end.  


Drilling is focused on continued resource extension and infill drilling along the Alpala trend as well as extensive geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work.


Supplementary work underway at the Alpala Deposit include geotechnical mining studies using downhole optical and acoustic Televiewer imaging, and rock-mechanics investigations using in-situ over-coring (3D stress testing), as well as in-situ measurement of rock mass permeability by packer testing.


The current drilling fleet of 9 is deployed as seven rigs focused on resource extension and infill drilling (Rigs 2, 3, 5, 6, 7, 8 and 13), with and two rigs focused on geotechnical, hydrogeological and sterilization drilling (Rigs 1, and 4). 


A further four man-portable rigs (Rigs 14-17) are currently under construction at HP Drilling workshops in Cuenca, Southern Ecuador.  Rig 14 is scheduled for arrival this month, with Rigs 15, 16 and 17 scheduled for arrival in August, September and October respectively.


A specialized Hydrological drilling contractor has been signed to supply a further 2 drilling rigs (Rigs 18, and 19) scheduled to commence groundwater drilling and water testing in late July 2019, bolstering the drilling fleet to a planned total of 15 machines.


Large track mounted Rigs 9,10, 11 and 12 have been demobilized from site following swap-out with man-portable machines due to difficulties in accessing off-road drill sites with the larger machines.


A review of the Chinambicito, Moran, Tandayama America and Aguinaga targets is currently underway.


About the Cascabel Joint Venture with SolGold:


Exploraciones Novomining S.A. (“ENSA”), an Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone’s distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.


Logging, sampling, assaying and reporting


Holes referred to in this release were or are being drilled using HTW, NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD’s), specific gravity and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified by experienced loggers and sometimes using an on-site portable spectrometer. Core is then sawed in half at the ENSA core logging facility, and half of the core is delivered by ENSA employees for preparation at ALS Minerals Laboratories (ALS) sample preparation facility in Quito. Core samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (ALS code CRU-31, SPL21 and PUL-32). Prepared samples are then shipped to ALS in Lima, Peru where samples are assayed for a multi-element suite (ALS code ME-MSP61, 1g split, 4-acid digestion, ICP-MS finish). Over limit results for Ag (> 100 g/t) and Cu, (> 1%) are systematically re-assayed (ALS code Ag-AA62, 4-acid digestion, AAS finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA finish (ALS code Au-AA23). 


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO


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


1 The full National Instrument 43-101 technical report entitled “A Technical Report on an Updated Mineral Resource Estimate for the Alpala Deposit, Cascabel Project, Northern Ecuador” (MRE #2) was filed at www.sedar.com on January 3, 2019, and can be found at the following link: http://www.cornerstoneresources.com/i/pdf/AlpalaMRE_1218.pdf


2 All references in this news release to copper equivalent (CuEq) grades are composed of copper and gold values, calculated using a gold conversion factor of 0.63, determined using an updated copper price of USD3.00/pound and an updated gold price of USD1300/ounce.  



 


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8020Admin posted a press release Bramaderos Exploration Update - Strong assays received for upper portion of drill hole BMDD001 from the Bramaderos Main gold-copper prospect in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, July 18, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-22Figures.pdf.


HIGHLIGHTS:



  • Initial assay results from the upper portion of the first hole (BMDD001) drilled at the Bramaderos Main prospect indicate a well mineralized porphyry system and include:
     

    • 164m1 at 0.77g/t gold equivalent (from 11.45m downhole) comprising 0.52g/t gold, 0.16% copper including,
       

      • 96.6m at 0.90 g/t gold equivalent (from 78.8m downhole) comprising 0.61g/t gold, 0.18% copper
         



    • 54m at 0.80 g/t gold equivalent (from 301m downhole) comprising 0.50g/t gold, 0.19% copper
       

    • Gold equivalents are based on gold and copper assays only and using metal price assumptions as shown in the note to Table 1 below
       



  • The assay results support and extend the historical results from drill hole CURI-03 which was mineralized from 9m to 257m (end of hole) and returned 248m at 0.56g/t gold and 0.14% copper and is located approximately 50m from BMDD001
     

  • Assays for the remaining intervals from BMDD001 are expected in August


The first hole at the outcropping Bramaderos Main porphyry target, BMDD001, was completed at 669.49m depth (Figures 1 & 2). Assays received to date are for the upper portion of the drill hole only and are provided in Table 1. Assay results for the complete hole are expected to be released in August.


BMDD001 was drilled approximately 50m below the historical intersection of 248m at 0.56g/t gold and 0.14% copper obtained from near-surface in hole CURI-03 (drilled to a depth of 257.24m in November-December 1999 by Paragon del Ecuador for Ecuanor) and below a surface longitudinal trench that delivered 615m at 0.52g/t gold and 0.11% copper (see Cornerstone news release dated May 9, 2018).


Cornerstone Vice President, Exploration, Yvan Crepeau said:


“This is a strong result on several levels. It shows we have drilled into a well mineralized porphyry system and it supports the historical results from hole CURI-03. Importantly, the geometry of the mineralized system appears to be correlating well with the 3-D magnetic model, which has a vertical extent of at least 1,000m. The combination of these latest assays, the historical results and the large extent of the mineralized system as outlined by the surface trenching and magnetic model is extremely promising in terms of both grade and scale.”


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=7816042409986689 

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8020Admin

7 days

8020Admin posted a press release Cornerstone Announces Effective Date for Share Consolidation in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 11, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that it will implement the previously announced proposed consolidation (the “Share Consolidation”) of its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for every twenty (20) pre-consolidation Common Shares, effective as of July 12, 2019. Shareholder approval of the Share Consolidation was obtained at the Company’s annual general and special meeting held on June 25, 2019. The Company has also received TSX Venture Exchange (“TSXV”) approval for the Share Consolidation.


Following the Share Consolidation, the Common Shares will continue to be traded on the TSXV under the symbol “CGP”. The Common Shares are scheduled to begin trading on a post-consolidation basis at market open on July 15, 2019. Following the Share Consolidation, the Common Shares will have a new CUSIP number (21922J604) and ISIN number (CA21922J6043).


A letter of transmittal will be mailed to all registered shareholders with instructions on how to exchange their existing share certificate(s) for new share certificate(s). Additional copies of the letter of transmittal can be obtained through Computershare Investor Services Inc. Shareholders may also obtain a copy of the letter of transmittal under the Company’s SEDAR profile at www.SEDAR.com. Following the Share Consolidation, share certificates representing pre-consolidation Common Shares will be deemed for all purposes to represent the number of Common Shares to which the shareholder is entitled as a result of the Share Consolidation. No delivery of a new share certificate to a shareholder will be made until the shareholder surrenders its certificate(s) representing the pre-consolidation Common Shares along with the letter of transmittal to Computershare Investor Services Inc. in the manner detailed in the letter of transmittal.


Non-registered beneficial holders holding their Common Shares through a bank, broker or other nominee should note that such banks, brokers or other nominees may have specific procedures for processing the Share Consolidation. Shareholders holding their Common Shares with such a bank, broker or nominee and who have any questions in this regard are encouraged to contact their nominee.


No fractional Common Shares will be issued upon the Share Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the Share Consolidation, the number of Common Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Common Share is less than one half (1/2) of a Common Share, and will be rounded up to the next whole number of Common Shares if that fractional Common Share is equal to or greater than one half (1/2) of a Common Share.
There are 640,141,422 Common Shares currently issued and outstanding. Following completion of the Share Consolidation, the Company will have approximately 32,007,071 Common Shares issued and outstanding (on a non-diluted basis and subject to rounding to account for fractional shares).


The exercise or conversion price of, and the number of Common Shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Share Consolidation.


Further details regarding the Share Consolidation are included in the Company’s management information circular dated May 21, 2019, a copy of which is available under the Company’s SEDAR profile at www.SEDAR.com.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.  While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO


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


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8020Admin

17 days

8020Admin posted a press release Bramaderos Exploration Update - Assays from Limon drill hole 2 indicate proximity to the core of a porphyry system - Bramaderos Main drill hole 1 completed at 670m and hole 2 in progress in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 02, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos (plates) related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-20Figures.pdf.


HIGHLIGHTS:



  • Assay results from the second hole (LMDD002) drilled at the Limon prospect within the Bramaderos project in southern Ecuador have been received and delivered:
     

    • A wide interval of anomalous copper and molybdenum
       

    • 267m at 0.05g/t gold, 750ppm copper, and 22ppm molybdenum, including 14m (at bottom of hole) of 0.1g/t gold, 0.2% copper and 41ppm molybdenum1
       



  • The assay results are entirely consistent with the geology and support the interpretation of proximity to the core of a porphyry system
     

  • Hole BMDD001 at the Bramaderos Main target (2.5km south-west of Limon) was completed to a depth of 669.45m
     

  • BMDD001 drilled parallel to, and below historical hole CURI-03 which intersected 248.1m at 0.56g/t gold and 0.14% copper from 9.1m. BMDD001 has extended the zone of quartz stockwork veining to a downhole depth of at least 600m.
     

  • Drill hole BMDD002 has commenced, and is located 120m to the south-east of BMDD001


As described in Cornerstone’s news release dated May 30, 2019 hole LMDD002 intersected an interval of porphyry-related mineralization with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide), anhydrite veining and widespread pyrite in quartz stockwork B-veining in the lower parts of the drill hole. This is interpreted to indicate that the intersection has likely drilled adjacent to the core of the porphyry system where we are most likely to see enhanced accumulations of copper and gold. See Figure 1 for plan view of surface geochemical zoning in soil sample assays and locations of holes LMDD001 and 002.


The assay results from LMDD002 are entirely consistent with the geological interpretation and provide strong support for targeting the next hole at Limon to the east of hole LMDD002.



Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACC&qmodStoryID=6892303976599164 

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8020Admin

21 days

8020Admin posted a press release Cornerstone Files Technical Report for Cascabel Preliminary Economic Assessment in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 28, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that it has filed on SEDAR a technical report for the Preliminary Economic Assessment (PEA) announced May 20, 2019 for the Alpala deposit, Cascabel project, Ecuador. The technical report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's web site (www.cornerstoneresources.com). The May 20, 2019 news release summarizing the PEA results can be viewed at: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=850697


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project. Cornerstone’s carried interest through to completion of the feasibility study is repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

22 days

8020Admin posted a press release Cornerstone Announces Results of June 25th Shareholders' Meeting in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 27, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that all matters presented for approval at its annual and special meeting of shareholders held on June 25, 2019 have been duly authorized and approved, as follows:



  1. receiving the financial statements of the Company for the financial year ended December 31, 2018;
     

  2. fixing the number of directors for the ensuing year at six, and the election of directors;
     

  3. appointment of UHY McGovern, Hurley LLP as auditors of the Company for the ensuing year and the authorization of the directors to fix their remuneration;
     

  4. amendment of the Company’s fixed stock option plan to increase the maximum number of common shares reserved for issuance thereunder, as more particularly described in the management information circular for the Meeting (the “Circular”);
     

  5. the grant of an aggregate of 16,237,500 stock options under the Company’s fixed stock option plan, as more particularly described in the Circular;
     

  6. the Company’s shareholder rights plan, as more particularly described in the Circular; and
     

  7. an amendment to the articles of the Company to consolidate the issued and outstanding common shares on the basis of one (1) post-consolidation common share for up to every 20 pre-consolidation common shares, or such lower ratio as may be determined by the board of directors of the Company in their sole discretion, as more particularly described in the Circular.             


431,289,048 shares or 67.41% of the 639,841,422 outstanding shares were represented at the meeting.


Directors were re-elected with between 91.77% and 92.33% in favour (8.23% and 7.67% opposed).


The Auditors were appointed by 92.77% in favour (7.23% opposed).


The fixed stock option plan was approved by 85.15% (14.85% opposed), and the stock option grants were ratified by 92.64% (7.36% opposed).


The shareholder rights plan was ratified by 92.08% (7.92% opposed), and 99.58% (excluding shares held by non-“Independent Shareholders” (as defined in the rights plan)).


The share consolidation was approved by 98.90% (1.10% opposed).


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

29 days

8020Admin posted a press release Cornerstone Reports on Decision of Ecuador Constitutional Court in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that, further to its news release dated June 6, 2019 regarding a potential referendum on mining in four parishes in which its Cascabel joint venture with SolGold Plc and its strategic exploration alliance with Ecuadorian State Mining Company ENAMI EP are located, the decision of the Constitutional Court in Quito was issued today.


Although the full decision has not yet been published and analyzed by Cornerstone and its legal advisors, the holding of the Court has been released and can be summarized as follows:


By a unanimous unappealable decision, the Court ruled that the petition be dismissed because the question was not properly stated, i.e., it was imprecise and failed to include, among other things, introductory recitals and failed to satisfy other Constitutional requirements. The Court did not enter into an examination of the merits of the case.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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



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8020Admin

1 month

8020Admin posted a press release Cornerstone Reports on Hearing of Anti-Mining Referendum Oral Arguments at Constitutional Court in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, June 06, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that, further to its news release dated May 30, 2019 regarding a potential referendum on mining in four parishes in which its Cascabel project and its strategic exploration alliance with State Mining Company ENAMI EP are located, the hearing of oral arguments took place yesterday at the Constitutional Court in Quito.


Arguments lasted over 3 hours, and were made by the Vice Minister of Mines, the Solicitor General of the Republic, representatives of mining companies and their workers and stakeholders including members of the communities affected, Chambers of Commerce and others. The overwhelming majority of the presentations were against the proposed referendum.


The Court extended the deadline for receiving amicus curiae (friend of the court) briefs until this Friday, June 7, 2019, to accommodate the more than 60 parties that are expected to file briefs in the proceeding. The Court is currently expected to hand down a decision by June 24th.


The oral arguments included, among others: (1) that the Court should deny the petition for a local referendum because these kinds of referendums are unconstitutional to decide matters that are within the exclusive competence of (a) the National Assembly to legislate on, such as mining, and (b) the National Government to administer, such as the granting of concessions and the issuance of environmental permits; and (2) that the petition was, in substance, a thinly veiled attempt to commit a fraud on the Constitution by seeking to amend it without doing so through the National Assembly.


Representatives of workers and communities at the Cascabel project spoke eloquently in favour of how their lives had changed for the better since Exploraciones Novomining S.A. (“ENSA”) began work there, as did community representatives and workers of Cornerstone in the area of its strategic alliance with ENAMI who spoke out in favour of Cornerstone. Many local people mentioned that the petitioner for the referendum did not represent their interests. Cornerstone delivered the last oral argument of the evening highlighting its reputation and history and investments in Ecuador since 2005 and its strategic partnership with state mining company ENAMI.


In other news, Cornerstone notes that the Government announced a new Mining Policy for Ecuador earlier this week intended to strengthen investment in the mining sector as well as setting out a framework for environmental and social sustainability.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

2 months

8020Admin posted a press release Cornerstone Comments on Share Price Activity in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, May 30, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) comments on media reports regarding a potential referendum on mining in the provinces in which its Cascabel project and Cornerstone’s strategic alliance with State Mining Company ENAMI EP are located.


Under Ecuadorean law individuals may put forward petitions to the Constitutional Court for the inclusion of specific questions in a future vote. If that question is viewed as valid and constitutionally legal by the Constitutional Court the next phase is for the petitioning party to gain 10% of the signatures of the voting population of the provinces involved.


On May 27th, certain individuals from small communities up around the Cascabel project and other projects in NW Ecuador petitioned the Ecuadorian Constitutional Court in Quito to rule on whether they may legally hold a referendum to ask the question: “Are you in favour of mining in your communities?”


There is a hearing on the petition June 5th at the Court in Quito, and a decision will be issued within 20 days from the filing of the petition, i.e., by June 24th. Lawyers for the companies potentially affected together with lawyers from state mining company ENAMI (which has concessions in the area), the Ministry of Energy & Non-Renewable Natural Resources (MERNNR), and the Solicitor General’s Office are coordinating their intervention in the proceeding and are also enlisting the support of the local communities that would be affected.


The lawyers agree that the Court should deny the petition because these kinds of referendums are unconstitutional to decide matters that are the purview of the National Government, such as mining.


In the unlikely event the Constitutional Court were to approve the referendum, the question would then have to be approved by the Electoral Council in order to be included on future ballot papers for the provinces specified.


With strong support from the government and local communities, Cornerstone does not expect approval to be forthcoming from the Court.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

2 months

8020Admin posted a press release Bramaderos Exploration Update - Drilling intersects extensive mineralized porphyry system at Limon Target in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, May 30, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos (plates) related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-14Figures.pdf.


HIGHLIGHTS:



  • The second hole (LMDD002) drilled at the Limon prospect within the Bramaderos project in Ecuador intersects more than 200m of visible and persistent disseminated chalcopyrite and molybdenite with some bornite in a strongly altered porphyry system
     

  • LMDD002 has been terminated at 900m (vertical depth of 630m); Previous sampling and trenching has established that the mineralization at Limon also occurs locally at surface
     

  • Gold mineralization in the drill core cannot be detected by visual inspection and will only be revealed by assay
     

  • Assay results for hole LMDD002 are expected before the end of June
     

  • The first hole at Limon (LMDD001) drilled below an interpreted plunging mineralized porphyry intrusion
     

  • Understanding of the geometry of the Limon porphyry system is evolving and drilling will return to Limon once all assays for hole LMDD002 are received
     

  • The next drill hole will be undertaken at the Bramaderos Main target (2.5km south-west of Limon) to follow-up on historical hole CURI-03 which intersected 248.1m at 0.56g/t gold and 0.14% copper from 9.1m


The second hole drilled at Limon (LMDD002) has intersected a very encouraging interval of porphyry-related mineralization with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide), anhydrite veining and widespread pyrite in quartz stockwork B-veining1 in the lower parts of the drill hole indicating the intersection has likely drilled adjacent to the core of the system where we are most likely to see enhanced accumulations of copper and gold (see Plate 1).


Hole LMDD002 was drilled from “outside” the interpreted porphyry system towards the interpreted centre and has exhibited very strong zoning supporting that interpretation (see Figures 1 and 2). The alteration suggests that the “hottest” and typically higher-grade portion of the porphyry system has not yet been intersected. This potential higher-grade portion is currently interpreted to lie northeast to east of hole LMDD002, where it may extend to shallower levels if LMDD002 drilled down through the southwest fringe of the main system.


Assay results for hole LMDD002 are expected before the end of June.


Cornerstone Vice President, Exploration, Yvan Crepeau, said:


“We are very encouraged by these early results at Limon. We have drilled two diamond holes into parts of a new mineralized porphyry system and its associated large-scale alteration zone but are yet to test the core of the system, which is our primary target.


“The drill core (see photos in Plates 2-7) show good development of ‘B veins’ containing some chalcopyrite and molybdenite and local minor bornite. Results from drilling and from surface datasets confirm we are in a porphyry system. Porphyry systems are typically zoned in relation to geochemistry, alteration style and vein mineralogy, and interpretation of geology and geochemistry can define vectors towards better mineralized domains. We are seeing such zoning in a number of datasets and are very encouraged by that.


“We have seen gold to copper ratios established from surface trenching and we will review the pending assay results from LMDD002 in this context.”


Next Steps


Following completion of LMDD002, the drill rig will move to the Bramaderos Main target (Figure 3) while Cornerstone awaits full assays at Limon and plans follow-up drilling.


The first hole at the Bramaderos Main porphyry target will drill below the historical intersection of 248m at 0.56g/t gold and 0.14% copper in hole CURI 3, drilled in November-December 1999 by Paragon del Ecuador for Ecuanor, and below recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (refer to news release dated May 9, 2018).


The overall Phase 1 drilling program across the three targets of Limon, Bramaderos Main and West Zone is anticipated to be approximately 5,000m. Drilling at the West Zone target is expected to follow later in the program, where surface trenching has delivered 15.6m at 6.1g/t gold (refer to news release dated November 8, 2017).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter agreement with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111).  Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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8020Admin

2 months

8020Admin posted a press release Cornerstone Announces Extremely Positive PEA Results for Cascabel Project in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, May 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) for its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador (Figure 1). The Company has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-12Figures.pdf.


A “preliminary economic assessment” or PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources. The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. A technical report for the PEA will be filed at www.sedar.com within 45 days of this news release, as required by National Instrument 43-101.


Key aspects and findings from this concept level study are summarized below.


HIGHLIGHTS:



  • Net Present Value (“NPV”) estimates range from US$4.1B to US$4.5B (Real, post-tax, @ 8% discount rate, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario (see below)

  • Internal Rate of Return (“IRR”) estimates range from 24.8% to 26.5% (Real, post-tax, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario

  • Pre-production Capex estimated at approx. US$2.4B to US$2.8B depending on production rate scenario

  • Payback Period on initial start-up capital – Range from 3.5 to 3.8 years after commencement of production depending on production rate scenario

  • Preferred Mining Method – Underground low-cost mass mining using Block Cave methods applied over several caves designed on two vertically extensive Lifts

  • Four alternative mine production cases have been pre-selected and assessed as part of the PEA – The Production Rate Scenario (see Mine Production Cases table below) proposed as the base case is Case 2b: 50Mtpa – Fast ramp-up:


 


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8393392885674573 

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8020Admin

3 months

8020Admin posted a press release Cornerstone and Newcrest sign definitive Option and Farm-in Agreement for the Caña Brava gold-copper Project in Ecuador in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, April 22, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that  Cornerstone and its subsidiary Cañabrava Mining S.A. have signed a binding option and farm-in Agreement with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Caña Brava and Tioloma properties in Ecuador (Figure 1) (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits in south central Ecuador. This Agreement implements and replaces the Heads of Agreement announced February 19, 2019: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=845496


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this Agreement with them. Newcrest is also partnering with us on the Miocene project in Chile (see news release dated December 10, 2018). We look forward to working with the Newcrest team on these properties.


Cornerstone applauds the Ecuadorian Ministry of Environment (ME)’s issuance in March of Ministerial Accord 020 (amending Ministerial Accord 009 of January 24, 2019), being the regulations for “scout (exploratory) drilling” using up to 30 drill platforms during the initial exploration phase of an exploration project, and the issuance in the last week of the Application Form to obtain an environmental registration the obtainment of which is a condition to benefit from the scout drilling program. Cornerstone is studying the Application Format and expects to make an application for scout drilling in the coming months.


In the meantime, Cornerstone continues to advance its almost completed environmental impact assessment (EIA) for Caña Brava that would provide for drilling during the initial and advanced stages of exploration and beyond during the economic evaluation phase and expects to be submitting the EIA to ME for comments within 4 to 6 weeks’ time.


Teams from both companies are already meeting to define work programs and activities to be implemented in the following weeks and months.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-11Figures.pdf.


About Caña Brava and Tioloma


Caña Brava - Gold/Copper - (Cornerstone has the right to earn 100%)


On February 26, 2015, the Company announced results from prospecting and geological mapping surveys carried out during 2014 on the Caña Brava property located in south-central Ecuador. http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=697817


The surveys identified (1) two significant porphyry Cu-Au targets well defined by coincident geological, geochemical and ground magnetic anomalies, (2) an intermediate sulphidation, higher grade, epithermal Au-Ag-Cu veins-breccia system mapped on the northern margin of the porphyry targets, and (3) a high sulphidation epithermal Au-Ag system recognized in the northeast corner of the property. Subsequently, a trenching program was completed (20 trenches, 599 metres, 301 channel samples), spectrometry (Terraspec) work carried out on soil samples (552), rock chips and channel samples (706) and a Phase 1 drill program has been prepared.


An EIA was begun in July 2018, including an environmental base line study and consultation process. Base line study field work has been completed. The EIA will be submitted to the Ministry of Environment (ME) for comment in approximately 4 to 6 weeks’ time.


The Company, through an Ecuadorian subsidiary, has the right to earn a 100% interest in the Caña Brava project from the original owner in return for cash option payments of $40,000 every 6 months until the Company decides to exercise the option by making a final payment of $350,000. The $350,000 payment may be made early, the option exercised at any time, and the underlying NSR to the optionor may be purchased for $150,000 at any time.


Tioloma – Gold/Copper (100% Cornerstone)


Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property, thereby enlarging, and effectively creating a protective area of interest around, the Caña Brava property and on strike with a well-defined regional mineralized trend.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable with interest out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel and adjacent acquired properties of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Dave Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


1 Subject to JV partner SolGold satisfying certain conditions.

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8020Admin

3 months

8020Admin posted a press release Bramaderos Exploration Update - Drilling at Limon target underway in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, April 18, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-10Figures.pdf.


Drilling commenced April 13, 2019 at the Limon target, where surface trenching assayed 97.6m at 0.71g/t gold and 0.23% copper over a poorly outcropping porphyry system (see news release 18-18 dated May 29, 2018), and we have currently drilled ~200 metres following completion of the day shift on April 17th.


The drilling contractor is performing well, operating on both day and night shifts and averaging around 20-25 metres per shift with zero safety or environmental incidents (see Photo 1).


As previously advised, first assay results are expected in late May to early June based on an anticipated time frame of 2-3 weeks to complete the first drill hole to a depth of approximately 500m, followed by 1-2 weeks to complete logging and sampling of the drill hole, and anticipating a turn-around time of approximately 4 weeks for sample preparation and assay results.


Construction of the drilling platform for the next planned drill hole has been completed.


The initial drill program is anticipated to be approximately 5,000m and will also include holes at Bramaderos Main to follow up on historical drilling that intersected 248m at 0.56g/t gold and 0.14% copper and recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (see news release 18-17 dated May 9, 2018), and at West Zone where surface trenching has delivered 15.6m at 6.1g/t gold (see news release 17-40 dated November 8, 2017) (see Figure 1).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter agreement with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111).  Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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Media Relations posted an update Cornerstone Capital; presenting in Ste-Therese QC this evening in CORNERSTONE CAPITAL RESOURCES INC.

This evening in Ste-Thérèse for the first time, Mario Drolet, President of MI3 Communications, investor relations for the Cornerstone Capital Corporation (CGP. TSXV), introducing the audience to Cornerstone’s, cuprferous discovery in Ecuador


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8020Admin

3 months

8020Admin posted a press release Cascabel Exploration Update - Alpala 2019 Drilling Campaign and Update on Investment in ENSA in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, April 10, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the following update on the exploration program at its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=4880600980528572 

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Mi3 Technical Note - Cornerstone Capital Resources (CGP - TSX.V)


insert_drive_fileTechnical-Note-March-22-2019.pdf
Thumb technical note march 22 2019

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8020Admin

4 months

8020Admin posted a press release Cornerstone announces approval of Bramaderos EIA - Drill Rig to be mobilized to site immediately in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, March 14, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces the Environmental Impact Assessment (EIA) required for the issuance of an Environmental Licence for diamond drilling at its Bramaderos gold and copper project in Ecuador has been approved by the Ecuadorian Ministry of Environment.


Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-07Figures.pdf.


It is expected that the Environmental Licence will be issued in the next week once an environmental bond has been posted.


Cornerstone, and its joint venture funding partner ASX listed Sunstone Metals Inc., will now mobilize a drill rig to the Bramaderos site and drilling is expected to commence within the next 2-3 weeks. First assay results are expected in late May or early June.


Drilling will commence at the Limon target where surface trenching has delivered 97.6m at 0.71g/t gold and 0.23% copper over a poorly outcropping porphyry system (see news release 18-18 dated May 29, 2018).


The initial drill program is anticipated to be approximately 5,000m and will also include holes at Bramaderos Main to follow up on historical drilling that intersected 248m at 0.56g/t gold and 0.14% copper and recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (see news release 18-17 dated May 9, 2018), and at West Zone where surface trenching has delivered 15.6m at 6.1g/t gold (see news release 17-40 dated November 8, 2017).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at: http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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8020Admin

4 months

8020Admin posted a press release UPDATE - Cornerstone Board Rejects Hostile Bid Proposal by SolGold in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, March 08, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that its Board of Directors, upon the unanimous recommendation of an independent committee of the Board and following a detailed review conducted in consultation with its financial and legal advisors, has unanimously determined to reject SolGold plc’s (“SolGold”) unsolicited proposal to acquire Cornerstone (the “Hostile Bid”) on the basis that it is not in the best interests of Cornerstone’s shareholders.


The Board has rejected the proposed Hostile Bid without having received the formal bid given SolGold’s consistent track record of delays:



  • late to publish drill results and updates to the market on Cascabel with the last press released update on exploration in November 2018;

  • late on releasing the Cascabel maiden resource statement;

  • late on releasing the preliminary economic assessment for Cascabel which was originally expected in January 2019, then Q1 2019 and now the most recent SolGold presentation is suggesting Q2 2019; and

  • now nearly 40 days since announcing its intention to make a takeover bid for Cornerstone.


Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACA&qmodStoryID=5657625515517455 

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8020Admin

5 months

8020Admin posted a press release Cornerstone and Newcrest sign Option and Farm-in Heads of Agreement for the Caña Brava gold-copper Project in Ecuador in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that  Cornerstone and its subsidiary Cañabrava Mining S.A. have signed an option and farm-in  Heads of Agreement with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Caña Brava and Tioloma properties in Ecuador (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits in south central Ecuador.


HIGHLIGHTS (all $ are US$):    



  • Subject to due diligence and negotiation of definitive documentation, Newcrest has the option to earn up to a 75% interest in the Project in stages, as follows:
     

    • Initial Option Period (runs from date of the definitive agreement until 18 months after receipt of Drilling Permit): making an up-front payment to Cornerstone of $100,000, and spending a minimum of $2 million (committed);
       

    • Stage 1 (4 years): paying $500,000 to Cornerstone and spending a further $8 million (with a minimum of $500,000 in each year to maintain the option) to earn a 51% interest in the Project;
       

    • Stage 2 (2 years): paying $650,000 to Cornerstone and completing a positive Preliminary Economic Assessment in accordance with National Instrument 43-101 on any target area in the Project, to increase its interest in the Project to 65% (Newcrest may extend Stage 2 an additional year by paying Cornerstone $250,000); and
       

    • Stage 3 (2 years): incurring expenditures of $100 million or completing a bankable feasibility study (BFS), whichever occurs first, to increase its interest in the Project to 75% (Newcrest may extend Stage 3 by up to an additional 2 years by paying $500,000 to Cornerstone for each 1 year extension).           





  • If Newcrest earns a 75% interest, Cornerstone will have the option for 90 days to convert up to 10% (2/5th) of its 25% project equity into a net smelter returns (NSR) royalty at the rate of 5% equity per 1% NSR (with minimum conversion of 5% equity interest). Newcrest will have the right to buy down the royalty to 1.5% NSR at fair market value after delivery of the BFS.
     

  • Cornerstone’s carried interest ends at the end of Stage 3 or sooner if Newcrest fails to complete any Stage after completing Stage 1 or if Newcrest elects not to proceed with Stage 2 or 3, following which Cornerstone will be required to contribute or suffer dilution of its participating interest according to a formula. If Newcrest completes Stage 1 and elects not to proceed to Stage 2, it will revert to a 49% non-controlling interest.
     

  • Cornerstone’s carried interest is not repayable out of project cash flows or otherwise.
     

  • Newcrest will be the operator at its own cost during the Initial Option Period, for a 5% fee during Stages 1, 2 and 3, and at 3% fee thereafter.


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this Heads of Agreement with them. Newcrest is also partnering with us on the Miocene project in Chile (see news release dated December 10, 2018). Cornerstone looks forward to seeing the Ecuadorian government providing regulatory certainty in the near term on the pathway for drilling.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-05Figures.pdf.


About Caña Brava and Tioloma


Caña Brava - Gold/Copper - (Cornerstone has the right to earn 100%)


On February 26, 2015, the Company announced results from prospecting and geological mapping surveys carried out during 2014 on the Caña Brava property located in south-central Ecuador. The surveys identified (1) two significant porphyry Cu-Au targets well defined by coincident geological, geochemical and ground magnetic anomalies, (2) an intermediate sulphidation, higher grade, epithermal Au-Ag-Cu veins-breccia system mapped on the northern margin of the porphyry targets, and (3) a high sulphidation epithermal Au-Ag system recognized in the northeast corner of the property. Subsequently, a trenching program was completed (20 trenches, 599 metres, 301 channel samples), spectrometry (Terraspec) work carried out on soil samples (552), rock chips and channel samples (706) and a Phase 1 drill program has been prepared.


An EIA was begun in July 2018, including an environmental base line study and consultation process. Base line study field work has been completed. The EIA will be submitted to the Ministry of Environment in the coming weeks.


The Company has the right to earn a 100% interest in the Caña Brava project from the original owner in return for cash option payments of $40,000 each 6 months until the Company decides to exercise the option by making a final payment of $350,000. The $350,000 payment may be made early, and the option exercised at any time.


Tioloma – Gold (100% Cornerstone)


Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property, thereby enlarging, and effectively creating a protective area of interest around, the Caña Brava property and on strike with a well-defined regional mineralized trend.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Dave Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


 


1 Subject to JV partner SolGold satisfying certain conditions.

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8020Admin

7 months

8020Admin posted a press release Cornerstone to Settle Outstanding Indebtedness in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has agreed to settle C$350,000 of debt owing to legal advisors to the Company by issuing 1,129,032 common shares in the capital of the Company at a deemed price of C$0.31 per common share. The debt settlement transaction is subject to the approval of the TSX Venture Exchange and all common shares issued pursuant to the debt settlement transaction will be subject to a four-month statutory hold period.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations: 
Mario Drolet (Montreal); Email: Mario@mi3.ca
Tel. (514) 346-3813


Corporate Matters: Sabino Di Paola, CFO (Ottawa); Email: sdipaola@cornerstoneresources.ca;  
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


On Behalf of the Board, 
Brooke Macdonald
President and CEO


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

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8020Admin

7 months

8020Admin posted a press release Cornerstone and Newcrest sign Option and Farm-in Agreement for the Miocene gold-copper Project in Chile in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that Cornerstone and its subsidiary Minera Cornerstone Chile Ltda. have signed an option and farm-in agreement (the “Agreement”) with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Miocene properties in Chile (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits along the interpreted northern extension of the Maricunga magmatic belt which hosts several world-class gold deposits.


HIGHLIGHTS (all $ are US$):


• Newcrest has the option to earn up to a 75% interest in the Project in stages, as follows:



  • 18-month initial option period: making an up-front payment to Cornerstone of $100,000, and spending a minimum of $1.1 million (committed);
     

  • Stage 1 (4 years): paying $500,000 to Cornerstone and spending a further $8 million (with a minimum of $500,000 in each year to maintain the option) to earn a 51% interest in the Project (such interest to be held through shares in a newly incorporated Chilean company);
     

  • Stage 2 (2 years): paying $650,000 to Cornerstone and completing a positive Preliminary Economic Assessment in accordance with National Instrument 43-101 on any target area in the Project, to increase its interest in the Project to 65% (Newcrest may extend Stage 2 to 3 years by paying Cornerstone $250,000); and
     

  • Stage 3 (2 years): incurring expenditures of $100 million or completing a bankable feasibility study (BFS), whichever occurs first, to increase its interest in the Project to 75% (Newcrest may extend Stage 3 by up to an additional 2 years by paying $500,000 to Cornerstone for each 1 year extension).


• If Newcrest earns a 75% interest, Cornerstone will have the option for 90 days to convert 5% (1/5th) of its 25% project equity into a 1% net smelter returns (NSR) royalty. Newcrest will have the right to buy down the royalty to 0.5% NSR at fair market value after delivery of the BFS.


• Cornerstone’s carried interest ends at the end of Stage 3 or sooner if Newcrest fails to complete any Stage after completing Stage 1 or if Newcrest elects not to proceed with Stage 2 or 3, following which Cornerstone will be required to contribute or suffer dilution of its participating interest according to a formula. If Newcrest completes Stage 1 and elects not to proceed to Stage 2, it will revert to a 49% non-controlling interest. 


• Cornerstone’s carried interest is not repayable out of project cash flows or otherwise.


• Newcrest will receive a 10% management fee (out of its own funding under the Agreement) during the 18-month initial option period and a 5% fee during Stages 1, 2 and 3.


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this agreement with them. Newcrest is also actively exploring in Ecuador, where Cornerstone has a first mover advantage as a prospect generator in Ecuador since 2005, and several drill-ready properties available for option.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR18-31Figures.pdf


About Miocene


The Miocene project is located in the Regions of Atacama and Antofagasta of northern Chile (see Figure 1), and is targeting epithermal gold-silver and porphyry gold-copper deposits along the interpreted northern extension of the Maricunga magmatic belt which hosts several world-class gold deposits. The Miocene claims were selected using a proprietary data base licensed exclusively to Cornerstone, and offer excellent potential for discovery. Significant epithermal mineralization has been discovered on neighboring properties along strike to the west of the Miocene property.


Exploration work to date has consisted largely of geochemistry work (both soil and rock sample work), ground geophysics, prospecting and geological mapping to prepare the property for its first drill program. Chile consistently ranks among the world's top mining jurisdictions.


Five prospective areas defined by geology (alteration minerals), geochemistry (gold and pathfinder elements) and ground magnetics have been identified by previous exploration work within the property limits.


Geology works shows two sub-parallel NW-SE oriented alteration / anomalous regional trends affecting the volcanic units. Alteration minerals (native sulphur, alunite, vuggy and massive silica and some silica-clay in the peripheral parts) and 3D distribution patterns along this trend are typical of high sulphidation epithermal systems. Altered and geochemically anomalous areas up to 9km by 3km in size have never been trenched nor drill tested.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Sabino Di Paola, CFO (Ottawa); Email: sdipaola@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% int......

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11 hours

8020Admin posted a press release Cascabel Exploration Update - Pre-Feasibility Work Program & Alpala Drilling Campaign in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 19, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the following update on the exploration program at its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador. The Company has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-23Figures.pdf.


HIGHLIGHTS:



  • An additional 68,354m of drilling has now been completed since the release of the updated Mineral Resource on November 20, 2018 (MRE #2)1.  Over 201,930m of resource drilling has now been assayed ahead of the upcoming third Mineral Resource update (MRE#3) later this year.

  • Resource extension drilling at the Alpala Deposit continues targeting extensions to high-grade outliers peripheral to it at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast, and with drilling also targeting mineralization at the newly identified Alpala Southwest area.

  • Cascabel drilling fleet expanding - 15 drill rigs are expected to be active on the project by September 2019 as the Company bolsters its fleet, expediting the planned Alpala Deposit Pre-Feasibility Study (PFS).

  • Drilling is focused on continued resource extension and infill drilling along the Alpala trend as well as geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work. 


FURTHER INFORMATION:


Cascabel is located in northwestern Ecuador in an under-explored northern section of the Andean Copper Belt, only a three-hour drive north of Quito, close to water, power supply and Pacific ports (Figure 1: Project Location & Infrastructure).


Project operator SolGold is encouraged by recent resource upgrade drilling which was targeted to include the vast majority of medium (>0.7% copper equivalent “CuEq”2) and high grade (>1.5%CuEq) tonnage within the criteria for Indicated Resources for the upcoming third Mineral Resource update (MRE #3) later this year.  SolGold is also pleased with the progress of new drilling taking place at Alpala Northwest, Trivinio, and Alpala Southeast, as well as drilling at the newly identified Alpala Southwest area, all of which target further growth to the existing Alpala Deposit. 


Alpala Drilling Campaign


A total of 216,522m of diamond drilling has been completed at the Cascabel project to date, with 205,072m completed at the growing Alpala Deposit, 4192m completed for geotechnical and hydrogeological testing, and 7,258m completed at Aguinaga prospect (Figures 2 and 3: Drill Hole Location Plans).


Greater geological and structural understanding is leading to identification of targets adjacent to the main resource, with drilling now targeting mineralization at several locations.


Infill drilling


An additional 68,354m of drilling has now been completed since the release of MRE #2 in January 2019.  Over 201,930m of resource drilling has now been assayed ahead of the upcoming MRE #3, with 3,142m of assays pending.


Additional Resource targets and extension drilling


Growth in the existing resource base at Alpala is targeted at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast, an example being recent Hole 106 which intersected 355m of copper sulphide mineralization outside the existing resource area at Alpala North (Figures 3 & 4).


Despite further drill testing of extensions, the Alpala North targets are still open to the north, as shown by Hole 75 intersection: 1918m @ 0.53% CuEq  (0.41% Cu; 0.19 g/t Au, from 320m depth, true width 767m), 288m of which lies outside the existing Inferred Resource area.


The potential at Trivinio is supported by the Hole 93 intersection: 862m @ 0.43% CuEq (0.32% Cu, 0.16g/t Au, from 1314m depth, 345m true width), 520m (true width 208m) of which lies outside the existing Inferred Resource area.


The newly identified Alpala Southwest area also presents a significant target now being tested by Hole 114.


Targeted grade improvement drilling


Recent and current drilling at Alpala is also targeting extensions to high-grade outliers peripheral to the main deposit.  High grade outliers currently still not closed off by drilling, occur at Alpala Northwest, Alpala East, and Alpala Southeast, and support the potential for further growth in the existing high grade resource tonnage. Follow up drilling is designed to infill and improve grades of the existing resource base as areas previously modelled at lower grades are updated with assay data afforded by new drilling.  Recent discoveries of previously unknown higher grade (>1.5%CuEq) and medium grade (>0.7% CuEq) mineralization intersected within existing low grade Inferred Resource areas at Alpala highlight the potential for upgrades to the existing resource base at Trivinio (Hole 93), Alpala North (Hole 75), Alpala Northwest (Hole 86), and Alpala South (Hole 89) and Alpala north east (Hole 106).


Discovery of a previously unknown QD10 (Quartz Diorite) source intrusion at Alpala Northwest, intersected in Hole 86: 318m @ 0.67% CuEq (0.54% Cu; 0.22 g/t Au, from 1052m depth, true width 127m) including 100m @ 1.34% CuEq, highlights the potential for further high grade resource extension as the 2019 drilling campaign continues.


The Alpala South mineralization is still not closed off by drilling and is open to the south and towards surface, as revealed by the Hole 89 intersection: 420m @ 0.61% CuEq (0.43% Cu; 0.30 g/t Au, from 334m depth, true width 168m).


For these reported results, sample preparation was performed by ALS Quito, and analysis performed by ALS Lima. Both laboratories are independent of SolGold and are accredited for the analysis methods used.


Geotechnical, hydrogeological and sterilization drilling


Geotechnical, hydrogeological and sterilization drill testing of plant and infrastructure sites, and underground and surface development facilities is ongoing at Cascabel.


2019 Pre-Feasibility (PFS) Work Program


The 2019 drilling campaign at Cascabel is presently utilizing 9 drilling rigs, comprising 8 man-portable machines and 1 large track-mounted machine (Figures 2 and 3).  The drilling fleet is currently expanding, from 9 man-portable machines to a total of 15 rigs expected to be active on the project by September 2019, bolstering the drilling fleet as the company expedites data collection ahead of the planned Alpala Deposit Pre-Feasibility Study (PFS) deadline by year end.  


Drilling is focused on continued resource extension and infill drilling along the Alpala trend as well as extensive geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work.


Supplementary work underway at the Alpala Deposit include geotechnical mining studies using downhole optical and acoustic Televiewer imaging, and rock-mechanics investigations using in-situ over-coring (3D stress testing), as well as in-situ measurement of rock mass permeability by packer testing.


The current drilling fleet of 9 is deployed as seven rigs focused on resource extension and infill drilling (Rigs 2, 3, 5, 6, 7, 8 and 13), with and two rigs focused on geotechnical, hydrogeological and sterilization drilling (Rigs 1, and 4). 


A further four man-portable rigs (Rigs 14-17) are currently under construction at HP Drilling workshops in Cuenca, Southern Ecuador.  Rig 14 is scheduled for arrival this month, with Rigs 15, 16 and 17 scheduled for arrival in August, September and October respectively.


A specialized Hydrological drilling contractor has been signed to supply a further 2 drilling rigs (Rigs 18, and 19) scheduled to commence groundwater drilling and water testing in late July 2019, bolstering the drilling fleet to a planned total of 15 machines.


Large track mounted Rigs 9,10, 11 and 12 have been demobilized from site following swap-out with man-portable machines due to difficulties in accessing off-road drill sites with the larger machines.


A review of the Chinambicito, Moran, Tandayama America and Aguinaga targets is currently underway.


About the Cascabel Joint Venture with SolGold:


Exploraciones Novomining S.A. (“ENSA”), an Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone’s distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.


Logging, sampling, assaying and reporting


Holes referred to in this release were or are being drilled using HTW, NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD’s), specific gravity and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified by experienced loggers and sometimes using an on-site portable spectrometer. Core is then sawed in half at the ENSA core logging facility, and half of the core is delivered by ENSA employees for preparation at ALS Minerals Laboratories (ALS) sample preparation facility in Quito. Core samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (ALS code CRU-31, SPL21 and PUL-32). Prepared samples are then shipped to ALS in Lima, Peru where samples are assayed for a multi-element suite (ALS code ME-MSP61, 1g split, 4-acid digestion, ICP-MS finish). Over limit results for Ag (> 100 g/t) and Cu, (> 1%) are systematically re-assayed (ALS code Ag-AA62, 4-acid digestion, AAS finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA finish (ALS code Au-AA23). 


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO


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


1 The full National Instrument 43-101 technical report entitled “A Technical Report on an Updated Mineral Resource Estimate for the Alpala Deposit, Cascabel Project, Northern Ecuador” (MRE #2) was filed at www.sedar.com on January 3, 2019, and can be found at the following link: http://www.cornerstoneresources.com/i/pdf/AlpalaMRE_1218.pdf


2 All references in this news release to copper equivalent (CuEq) grades are composed of copper and gold values, calculated using a gold conversion factor of 0.63, determined using an updated copper price of USD3.00/pound and an updated gold price of USD1300/ounce.  



 


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8020Admin posted a press release Bramaderos Exploration Update - Strong assays received for upper portion of drill hole BMDD001 from the Bramaderos Main gold-copper prospect in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, July 18, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-22Figures.pdf.


HIGHLIGHTS:



  • Initial assay results from the upper portion of the first hole (BMDD001) drilled at the Bramaderos Main prospect indicate a well mineralized porphyry system and include:
     

    • 164m1 at 0.77g/t gold equivalent (from 11.45m downhole) comprising 0.52g/t gold, 0.16% copper including,
       

      • 96.6m at 0.90 g/t gold equivalent (from 78.8m downhole) comprising 0.61g/t gold, 0.18% copper
         



    • 54m at 0.80 g/t gold equivalent (from 301m downhole) comprising 0.50g/t gold, 0.19% copper
       

    • Gold equivalents are based on gold and copper assays only and using metal price assumptions as shown in the note to Table 1 below
       



  • The assay results support and extend the historical results from drill hole CURI-03 which was mineralized from 9m to 257m (end of hole) and returned 248m at 0.56g/t gold and 0.14% copper and is located approximately 50m from BMDD001
     

  • Assays for the remaining intervals from BMDD001 are expected in August


The first hole at the outcropping Bramaderos Main porphyry target, BMDD001, was completed at 669.49m depth (Figures 1 & 2). Assays received to date are for the upper portion of the drill hole only and are provided in Table 1. Assay results for the complete hole are expected to be released in August.


BMDD001 was drilled approximately 50m below the historical intersection of 248m at 0.56g/t gold and 0.14% copper obtained from near-surface in hole CURI-03 (drilled to a depth of 257.24m in November-December 1999 by Paragon del Ecuador for Ecuanor) and below a surface longitudinal trench that delivered 615m at 0.52g/t gold and 0.11% copper (see Cornerstone news release dated May 9, 2018).


Cornerstone Vice President, Exploration, Yvan Crepeau said:


“This is a strong result on several levels. It shows we have drilled into a well mineralized porphyry system and it supports the historical results from hole CURI-03. Importantly, the geometry of the mineralized system appears to be correlating well with the 3-D magnetic model, which has a vertical extent of at least 1,000m. The combination of these latest assays, the historical results and the large extent of the mineralized system as outlined by the surface trenching and magnetic model is extremely promising in terms of both grade and scale.”


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=7816042409986689 

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8020Admin

7 days

8020Admin posted a press release Cornerstone Announces Effective Date for Share Consolidation in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 11, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that it will implement the previously announced proposed consolidation (the “Share Consolidation”) of its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for every twenty (20) pre-consolidation Common Shares, effective as of July 12, 2019. Shareholder approval of the Share Consolidation was obtained at the Company’s annual general and special meeting held on June 25, 2019. The Company has also received TSX Venture Exchange (“TSXV”) approval for the Share Consolidation.


Following the Share Consolidation, the Common Shares will continue to be traded on the TSXV under the symbol “CGP”. The Common Shares are scheduled to begin trading on a post-consolidation basis at market open on July 15, 2019. Following the Share Consolidation, the Common Shares will have a new CUSIP number (21922J604) and ISIN number (CA21922J6043).


A letter of transmittal will be mailed to all registered shareholders with instructions on how to exchange their existing share certificate(s) for new share certificate(s). Additional copies of the letter of transmittal can be obtained through Computershare Investor Services Inc. Shareholders may also obtain a copy of the letter of transmittal under the Company’s SEDAR profile at www.SEDAR.com. Following the Share Consolidation, share certificates representing pre-consolidation Common Shares will be deemed for all purposes to represent the number of Common Shares to which the shareholder is entitled as a result of the Share Consolidation. No delivery of a new share certificate to a shareholder will be made until the shareholder surrenders its certificate(s) representing the pre-consolidation Common Shares along with the letter of transmittal to Computershare Investor Services Inc. in the manner detailed in the letter of transmittal.


Non-registered beneficial holders holding their Common Shares through a bank, broker or other nominee should note that such banks, brokers or other nominees may have specific procedures for processing the Share Consolidation. Shareholders holding their Common Shares with such a bank, broker or nominee and who have any questions in this regard are encouraged to contact their nominee.


No fractional Common Shares will be issued upon the Share Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the Share Consolidation, the number of Common Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Common Share is less than one half (1/2) of a Common Share, and will be rounded up to the next whole number of Common Shares if that fractional Common Share is equal to or greater than one half (1/2) of a Common Share.
There are 640,141,422 Common Shares currently issued and outstanding. Following completion of the Share Consolidation, the Company will have approximately 32,007,071 Common Shares issued and outstanding (on a non-diluted basis and subject to rounding to account for fractional shares).


The exercise or conversion price of, and the number of Common Shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Share Consolidation.


Further details regarding the Share Consolidation are included in the Company’s management information circular dated May 21, 2019, a copy of which is available under the Company’s SEDAR profile at www.SEDAR.com.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.  While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO


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


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8020Admin

17 days

8020Admin posted a press release Bramaderos Exploration Update - Assays from Limon drill hole 2 indicate proximity to the core of a porphyry system - Bramaderos Main drill hole 1 completed at 670m and hole 2 in progress in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, July 02, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos (plates) related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-20Figures.pdf.


HIGHLIGHTS:



  • Assay results from the second hole (LMDD002) drilled at the Limon prospect within the Bramaderos project in southern Ecuador have been received and delivered:
     

    • A wide interval of anomalous copper and molybdenum
       

    • 267m at 0.05g/t gold, 750ppm copper, and 22ppm molybdenum, including 14m (at bottom of hole) of 0.1g/t gold, 0.2% copper and 41ppm molybdenum1
       



  • The assay results are entirely consistent with the geology and support the interpretation of proximity to the core of a porphyry system
     

  • Hole BMDD001 at the Bramaderos Main target (2.5km south-west of Limon) was completed to a depth of 669.45m
     

  • BMDD001 drilled parallel to, and below historical hole CURI-03 which intersected 248.1m at 0.56g/t gold and 0.14% copper from 9.1m. BMDD001 has extended the zone of quartz stockwork veining to a downhole depth of at least 600m.
     

  • Drill hole BMDD002 has commenced, and is located 120m to the south-east of BMDD001


As described in Cornerstone’s news release dated May 30, 2019 hole LMDD002 intersected an interval of porphyry-related mineralization with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide), anhydrite veining and widespread pyrite in quartz stockwork B-veining in the lower parts of the drill hole. This is interpreted to indicate that the intersection has likely drilled adjacent to the core of the porphyry system where we are most likely to see enhanced accumulations of copper and gold. See Figure 1 for plan view of surface geochemical zoning in soil sample assays and locations of holes LMDD001 and 002.


The assay results from LMDD002 are entirely consistent with the geological interpretation and provide strong support for targeting the next hole at Limon to the east of hole LMDD002.



Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACC&qmodStoryID=6892303976599164 

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8020Admin

21 days

8020Admin posted a press release Cornerstone Files Technical Report for Cascabel Preliminary Economic Assessment in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 28, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that it has filed on SEDAR a technical report for the Preliminary Economic Assessment (PEA) announced May 20, 2019 for the Alpala deposit, Cascabel project, Ecuador. The technical report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's web site (www.cornerstoneresources.com). The May 20, 2019 news release summarizing the PEA results can be viewed at: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=850697


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project. Cornerstone’s carried interest through to completion of the feasibility study is repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

22 days

8020Admin posted a press release Cornerstone Announces Results of June 25th Shareholders' Meeting in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 27, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that all matters presented for approval at its annual and special meeting of shareholders held on June 25, 2019 have been duly authorized and approved, as follows:



  1. receiving the financial statements of the Company for the financial year ended December 31, 2018;
     

  2. fixing the number of directors for the ensuing year at six, and the election of directors;
     

  3. appointment of UHY McGovern, Hurley LLP as auditors of the Company for the ensuing year and the authorization of the directors to fix their remuneration;
     

  4. amendment of the Company’s fixed stock option plan to increase the maximum number of common shares reserved for issuance thereunder, as more particularly described in the management information circular for the Meeting (the “Circular”);
     

  5. the grant of an aggregate of 16,237,500 stock options under the Company’s fixed stock option plan, as more particularly described in the Circular;
     

  6. the Company’s shareholder rights plan, as more particularly described in the Circular; and
     

  7. an amendment to the articles of the Company to consolidate the issued and outstanding common shares on the basis of one (1) post-consolidation common share for up to every 20 pre-consolidation common shares, or such lower ratio as may be determined by the board of directors of the Company in their sole discretion, as more particularly described in the Circular.             


431,289,048 shares or 67.41% of the 639,841,422 outstanding shares were represented at the meeting.


Directors were re-elected with between 91.77% and 92.33% in favour (8.23% and 7.67% opposed).


The Auditors were appointed by 92.77% in favour (7.23% opposed).


The fixed stock option plan was approved by 85.15% (14.85% opposed), and the stock option grants were ratified by 92.64% (7.36% opposed).


The shareholder rights plan was ratified by 92.08% (7.92% opposed), and 99.58% (excluding shares held by non-“Independent Shareholders” (as defined in the rights plan)).


The share consolidation was approved by 98.90% (1.10% opposed).


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

29 days

8020Admin posted a press release Cornerstone Reports on Decision of Ecuador Constitutional Court in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, June 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that, further to its news release dated June 6, 2019 regarding a potential referendum on mining in four parishes in which its Cascabel joint venture with SolGold Plc and its strategic exploration alliance with Ecuadorian State Mining Company ENAMI EP are located, the decision of the Constitutional Court in Quito was issued today.


Although the full decision has not yet been published and analyzed by Cornerstone and its legal advisors, the holding of the Court has been released and can be summarized as follows:


By a unanimous unappealable decision, the Court ruled that the petition be dismissed because the question was not properly stated, i.e., it was imprecise and failed to include, among other things, introductory recitals and failed to satisfy other Constitutional requirements. The Court did not enter into an examination of the merits of the case.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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



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8020Admin

1 month

8020Admin posted a press release Cornerstone Reports on Hearing of Anti-Mining Referendum Oral Arguments at Constitutional Court in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, June 06, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that, further to its news release dated May 30, 2019 regarding a potential referendum on mining in four parishes in which its Cascabel project and its strategic exploration alliance with State Mining Company ENAMI EP are located, the hearing of oral arguments took place yesterday at the Constitutional Court in Quito.


Arguments lasted over 3 hours, and were made by the Vice Minister of Mines, the Solicitor General of the Republic, representatives of mining companies and their workers and stakeholders including members of the communities affected, Chambers of Commerce and others. The overwhelming majority of the presentations were against the proposed referendum.


The Court extended the deadline for receiving amicus curiae (friend of the court) briefs until this Friday, June 7, 2019, to accommodate the more than 60 parties that are expected to file briefs in the proceeding. The Court is currently expected to hand down a decision by June 24th.


The oral arguments included, among others: (1) that the Court should deny the petition for a local referendum because these kinds of referendums are unconstitutional to decide matters that are within the exclusive competence of (a) the National Assembly to legislate on, such as mining, and (b) the National Government to administer, such as the granting of concessions and the issuance of environmental permits; and (2) that the petition was, in substance, a thinly veiled attempt to commit a fraud on the Constitution by seeking to amend it without doing so through the National Assembly.


Representatives of workers and communities at the Cascabel project spoke eloquently in favour of how their lives had changed for the better since Exploraciones Novomining S.A. (“ENSA”) began work there, as did community representatives and workers of Cornerstone in the area of its strategic alliance with ENAMI who spoke out in favour of Cornerstone. Many local people mentioned that the petitioner for the referendum did not represent their interests. Cornerstone delivered the last oral argument of the evening highlighting its reputation and history and investments in Ecuador since 2005 and its strategic partnership with state mining company ENAMI.


In other news, Cornerstone notes that the Government announced a new Mining Policy for Ecuador earlier this week intended to strengthen investment in the mining sector as well as setting out a framework for environmental and social sustainability.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


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8020Admin

2 months

8020Admin posted a press release Cornerstone Comments on Share Price Activity in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, May 30, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) comments on media reports regarding a potential referendum on mining in the provinces in which its Cascabel project and Cornerstone’s strategic alliance with State Mining Company ENAMI EP are located.


Under Ecuadorean law individuals may put forward petitions to the Constitutional Court for the inclusion of specific questions in a future vote. If that question is viewed as valid and constitutionally legal by the Constitutional Court the next phase is for the petitioning party to gain 10% of the signatures of the voting population of the provinces involved.


On May 27th, certain individuals from small communities up around the Cascabel project and other projects in NW Ecuador petitioned the Ecuadorian Constitutional Court in Quito to rule on whether they may legally hold a referendum to ask the question: “Are you in favour of mining in your communities?”


There is a hearing on the petition June 5th at the Court in Quito, and a decision will be issued within 20 days from the filing of the petition, i.e., by June 24th. Lawyers for the companies potentially affected together with lawyers from state mining company ENAMI (which has concessions in the area), the Ministry of Energy & Non-Renewable Natural Resources (MERNNR), and the Solicitor General’s Office are coordinating their intervention in the proceeding and are also enlisting the support of the local communities that would be affected.


The lawyers agree that the Court should deny the petition because these kinds of referendums are unconstitutional to decide matters that are the purview of the National Government, such as mining.


In the unlikely event the Constitutional Court were to approve the referendum, the question would then have to be approved by the Electoral Council in order to be included on future ballot papers for the provinces specified.


With strong support from the government and local communities, Cornerstone does not expect approval to be forthcoming from the Court.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


Primary Logo


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8020Admin

2 months

8020Admin posted a press release Bramaderos Exploration Update - Drilling intersects extensive mineralized porphyry system at Limon Target in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, May 30, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos (plates) related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-14Figures.pdf.


HIGHLIGHTS:



  • The second hole (LMDD002) drilled at the Limon prospect within the Bramaderos project in Ecuador intersects more than 200m of visible and persistent disseminated chalcopyrite and molybdenite with some bornite in a strongly altered porphyry system
     

  • LMDD002 has been terminated at 900m (vertical depth of 630m); Previous sampling and trenching has established that the mineralization at Limon also occurs locally at surface
     

  • Gold mineralization in the drill core cannot be detected by visual inspection and will only be revealed by assay
     

  • Assay results for hole LMDD002 are expected before the end of June
     

  • The first hole at Limon (LMDD001) drilled below an interpreted plunging mineralized porphyry intrusion
     

  • Understanding of the geometry of the Limon porphyry system is evolving and drilling will return to Limon once all assays for hole LMDD002 are received
     

  • The next drill hole will be undertaken at the Bramaderos Main target (2.5km south-west of Limon) to follow-up on historical hole CURI-03 which intersected 248.1m at 0.56g/t gold and 0.14% copper from 9.1m


The second hole drilled at Limon (LMDD002) has intersected a very encouraging interval of porphyry-related mineralization with visible and persistent chalcopyrite (copper sulphide) and molybdenite (molybdenum sulphide), minor bornite (copper sulphide), anhydrite veining and widespread pyrite in quartz stockwork B-veining1 in the lower parts of the drill hole indicating the intersection has likely drilled adjacent to the core of the system where we are most likely to see enhanced accumulations of copper and gold (see Plate 1).


Hole LMDD002 was drilled from “outside” the interpreted porphyry system towards the interpreted centre and has exhibited very strong zoning supporting that interpretation (see Figures 1 and 2). The alteration suggests that the “hottest” and typically higher-grade portion of the porphyry system has not yet been intersected. This potential higher-grade portion is currently interpreted to lie northeast to east of hole LMDD002, where it may extend to shallower levels if LMDD002 drilled down through the southwest fringe of the main system.


Assay results for hole LMDD002 are expected before the end of June.


Cornerstone Vice President, Exploration, Yvan Crepeau, said:


“We are very encouraged by these early results at Limon. We have drilled two diamond holes into parts of a new mineralized porphyry system and its associated large-scale alteration zone but are yet to test the core of the system, which is our primary target.


“The drill core (see photos in Plates 2-7) show good development of ‘B veins’ containing some chalcopyrite and molybdenite and local minor bornite. Results from drilling and from surface datasets confirm we are in a porphyry system. Porphyry systems are typically zoned in relation to geochemistry, alteration style and vein mineralogy, and interpretation of geology and geochemistry can define vectors towards better mineralized domains. We are seeing such zoning in a number of datasets and are very encouraged by that.


“We have seen gold to copper ratios established from surface trenching and we will review the pending assay results from LMDD002 in this context.”


Next Steps


Following completion of LMDD002, the drill rig will move to the Bramaderos Main target (Figure 3) while Cornerstone awaits full assays at Limon and plans follow-up drilling.


The first hole at the Bramaderos Main porphyry target will drill below the historical intersection of 248m at 0.56g/t gold and 0.14% copper in hole CURI 3, drilled in November-December 1999 by Paragon del Ecuador for Ecuanor, and below recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (refer to news release dated May 9, 2018).


The overall Phase 1 drilling program across the three targets of Limon, Bramaderos Main and West Zone is anticipated to be approximately 5,000m. Drilling at the West Zone target is expected to follow later in the program, where surface trenching has delivered 15.6m at 6.1g/t gold (refer to news release dated November 8, 2017).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter agreement with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111).  Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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8020Admin

2 months

8020Admin posted a press release Cornerstone Announces Extremely Positive PEA Results for Cascabel Project in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, May 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) for its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador (Figure 1). The Company has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-12Figures.pdf.


A “preliminary economic assessment” or PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources. The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. A technical report for the PEA will be filed at www.sedar.com within 45 days of this news release, as required by National Instrument 43-101.


Key aspects and findings from this concept level study are summarized below.


HIGHLIGHTS:



  • Net Present Value (“NPV”) estimates range from US$4.1B to US$4.5B (Real, post-tax, @ 8% discount rate, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario (see below)

  • Internal Rate of Return (“IRR”) estimates range from 24.8% to 26.5% (Real, post-tax, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario

  • Pre-production Capex estimated at approx. US$2.4B to US$2.8B depending on production rate scenario

  • Payback Period on initial start-up capital – Range from 3.5 to 3.8 years after commencement of production depending on production rate scenario

  • Preferred Mining Method – Underground low-cost mass mining using Block Cave methods applied over several caves designed on two vertically extensive Lifts

  • Four alternative mine production cases have been pre-selected and assessed as part of the PEA – The Production Rate Scenario (see Mine Production Cases table below) proposed as the base case is Case 2b: 50Mtpa – Fast ramp-up:


 


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8393392885674573 

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8020Admin

3 months

8020Admin posted a press release Cornerstone and Newcrest sign definitive Option and Farm-in Agreement for the Caña Brava gold-copper Project in Ecuador in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, April 22, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that  Cornerstone and its subsidiary Cañabrava Mining S.A. have signed a binding option and farm-in Agreement with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Caña Brava and Tioloma properties in Ecuador (Figure 1) (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits in south central Ecuador. This Agreement implements and replaces the Heads of Agreement announced February 19, 2019: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=845496


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this Agreement with them. Newcrest is also partnering with us on the Miocene project in Chile (see news release dated December 10, 2018). We look forward to working with the Newcrest team on these properties.


Cornerstone applauds the Ecuadorian Ministry of Environment (ME)’s issuance in March of Ministerial Accord 020 (amending Ministerial Accord 009 of January 24, 2019), being the regulations for “scout (exploratory) drilling” using up to 30 drill platforms during the initial exploration phase of an exploration project, and the issuance in the last week of the Application Form to obtain an environmental registration the obtainment of which is a condition to benefit from the scout drilling program. Cornerstone is studying the Application Format and expects to make an application for scout drilling in the coming months.


In the meantime, Cornerstone continues to advance its almost completed environmental impact assessment (EIA) for Caña Brava that would provide for drilling during the initial and advanced stages of exploration and beyond during the economic evaluation phase and expects to be submitting the EIA to ME for comments within 4 to 6 weeks’ time.


Teams from both companies are already meeting to define work programs and activities to be implemented in the following weeks and months.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-11Figures.pdf.


About Caña Brava and Tioloma


Caña Brava - Gold/Copper - (Cornerstone has the right to earn 100%)


On February 26, 2015, the Company announced results from prospecting and geological mapping surveys carried out during 2014 on the Caña Brava property located in south-central Ecuador. http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=697817


The surveys identified (1) two significant porphyry Cu-Au targets well defined by coincident geological, geochemical and ground magnetic anomalies, (2) an intermediate sulphidation, higher grade, epithermal Au-Ag-Cu veins-breccia system mapped on the northern margin of the porphyry targets, and (3) a high sulphidation epithermal Au-Ag system recognized in the northeast corner of the property. Subsequently, a trenching program was completed (20 trenches, 599 metres, 301 channel samples), spectrometry (Terraspec) work carried out on soil samples (552), rock chips and channel samples (706) and a Phase 1 drill program has been prepared.


An EIA was begun in July 2018, including an environmental base line study and consultation process. Base line study field work has been completed. The EIA will be submitted to the Ministry of Environment (ME) for comment in approximately 4 to 6 weeks’ time.


The Company, through an Ecuadorian subsidiary, has the right to earn a 100% interest in the Caña Brava project from the original owner in return for cash option payments of $40,000 every 6 months until the Company decides to exercise the option by making a final payment of $350,000. The $350,000 payment may be made early, the option exercised at any time, and the underlying NSR to the optionor may be purchased for $150,000 at any time.


Tioloma – Gold/Copper (100% Cornerstone)


Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property, thereby enlarging, and effectively creating a protective area of interest around, the Caña Brava property and on strike with a well-defined regional mineralized trend.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable with interest out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel and adjacent acquired properties of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Dave Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


1 Subject to JV partner SolGold satisfying certain conditions.

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8020Admin

3 months

8020Admin posted a press release Bramaderos Exploration Update - Drilling at Limon target underway in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, April 18, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and photos related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-10Figures.pdf.


Drilling commenced April 13, 2019 at the Limon target, where surface trenching assayed 97.6m at 0.71g/t gold and 0.23% copper over a poorly outcropping porphyry system (see news release 18-18 dated May 29, 2018), and we have currently drilled ~200 metres following completion of the day shift on April 17th.


The drilling contractor is performing well, operating on both day and night shifts and averaging around 20-25 metres per shift with zero safety or environmental incidents (see Photo 1).


As previously advised, first assay results are expected in late May to early June based on an anticipated time frame of 2-3 weeks to complete the first drill hole to a depth of approximately 500m, followed by 1-2 weeks to complete logging and sampling of the drill hole, and anticipating a turn-around time of approximately 4 weeks for sample preparation and assay results.


Construction of the drilling platform for the next planned drill hole has been completed.


The initial drill program is anticipated to be approximately 5,000m and will also include holes at Bramaderos Main to follow up on historical drilling that intersected 248m at 0.56g/t gold and 0.14% copper and recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (see news release 18-17 dated May 9, 2018), and at West Zone where surface trenching has delivered 15.6m at 6.1g/t gold (see news release 17-40 dated November 8, 2017) (see Figure 1).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter agreement with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111).  Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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Media Relations posted an update Cornerstone Capital; presenting in Ste-Therese QC this evening in CORNERSTONE CAPITAL RESOURCES INC.

This evening in Ste-Thérèse for the first time, Mario Drolet, President of MI3 Communications, investor relations for the Cornerstone Capital Corporation (CGP. TSXV), introducing the audience to Cornerstone’s, cuprferous discovery in Ecuador


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8020Admin

3 months

8020Admin posted a press release Cascabel Exploration Update - Alpala 2019 Drilling Campaign and Update on Investment in ENSA in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, April 10, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the following update on the exploration program at its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=4880600980528572 

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Mi3 Technical Note - Cornerstone Capital Resources (CGP - TSX.V)


insert_drive_fileTechnical-Note-March-22-2019.pdf
Thumb technical note march 22 2019

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8020Admin

4 months

8020Admin posted a press release Cornerstone announces approval of Bramaderos EIA - Drill Rig to be mobilized to site immediately in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, March 14, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces the Environmental Impact Assessment (EIA) required for the issuance of an Environmental Licence for diamond drilling at its Bramaderos gold and copper project in Ecuador has been approved by the Ecuadorian Ministry of Environment.


Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-07Figures.pdf.


It is expected that the Environmental Licence will be issued in the next week once an environmental bond has been posted.


Cornerstone, and its joint venture funding partner ASX listed Sunstone Metals Inc., will now mobilize a drill rig to the Bramaderos site and drilling is expected to commence within the next 2-3 weeks. First assay results are expected in late May or early June.


Drilling will commence at the Limon target where surface trenching has delivered 97.6m at 0.71g/t gold and 0.23% copper over a poorly outcropping porphyry system (see news release 18-18 dated May 29, 2018).


The initial drill program is anticipated to be approximately 5,000m and will also include holes at Bramaderos Main to follow up on historical drilling that intersected 248m at 0.56g/t gold and 0.14% copper and recent surface trenching that delivered 615m at 0.52g/t gold and 0.11% copper (see news release 18-17 dated May 9, 2018), and at West Zone where surface trenching has delivered 15.6m at 6.1g/t gold (see news release 17-40 dated November 8, 2017).


About Bramaderos


The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


Sampling and assaying


Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.


Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).


Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).


Quality assurance / Quality control (QA/QC)


The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at: http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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8020Admin

4 months

8020Admin posted a press release UPDATE - Cornerstone Board Rejects Hostile Bid Proposal by SolGold in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, March 08, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) today announced that its Board of Directors, upon the unanimous recommendation of an independent committee of the Board and following a detailed review conducted in consultation with its financial and legal advisors, has unanimously determined to reject SolGold plc’s (“SolGold”) unsolicited proposal to acquire Cornerstone (the “Hostile Bid”) on the basis that it is not in the best interests of Cornerstone’s shareholders.


The Board has rejected the proposed Hostile Bid without having received the formal bid given SolGold’s consistent track record of delays:



  • late to publish drill results and updates to the market on Cascabel with the last press released update on exploration in November 2018;

  • late on releasing the Cascabel maiden resource statement;

  • late on releasing the preliminary economic assessment for Cascabel which was originally expected in January 2019, then Q1 2019 and now the most recent SolGold presentation is suggesting Q2 2019; and

  • now nearly 40 days since announcing its intention to make a takeover bid for Cornerstone.


Read more here: https://quotemedia.com/portal/quote?qm_symbol=CGP%3ACA&qmodStoryID=5657625515517455 

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8020Admin

5 months

8020Admin posted a press release Cornerstone and Newcrest sign Option and Farm-in Heads of Agreement for the Caña Brava gold-copper Project in Ecuador in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that  Cornerstone and its subsidiary Cañabrava Mining S.A. have signed an option and farm-in  Heads of Agreement with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Caña Brava and Tioloma properties in Ecuador (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits in south central Ecuador.


HIGHLIGHTS (all $ are US$):    



  • Subject to due diligence and negotiation of definitive documentation, Newcrest has the option to earn up to a 75% interest in the Project in stages, as follows:
     

    • Initial Option Period (runs from date of the definitive agreement until 18 months after receipt of Drilling Permit): making an up-front payment to Cornerstone of $100,000, and spending a minimum of $2 million (committed);
       

    • Stage 1 (4 years): paying $500,000 to Cornerstone and spending a further $8 million (with a minimum of $500,000 in each year to maintain the option) to earn a 51% interest in the Project;
       

    • Stage 2 (2 years): paying $650,000 to Cornerstone and completing a positive Preliminary Economic Assessment in accordance with National Instrument 43-101 on any target area in the Project, to increase its interest in the Project to 65% (Newcrest may extend Stage 2 an additional year by paying Cornerstone $250,000); and
       

    • Stage 3 (2 years): incurring expenditures of $100 million or completing a bankable feasibility study (BFS), whichever occurs first, to increase its interest in the Project to 75% (Newcrest may extend Stage 3 by up to an additional 2 years by paying $500,000 to Cornerstone for each 1 year extension).           





  • If Newcrest earns a 75% interest, Cornerstone will have the option for 90 days to convert up to 10% (2/5th) of its 25% project equity into a net smelter returns (NSR) royalty at the rate of 5% equity per 1% NSR (with minimum conversion of 5% equity interest). Newcrest will have the right to buy down the royalty to 1.5% NSR at fair market value after delivery of the BFS.
     

  • Cornerstone’s carried interest ends at the end of Stage 3 or sooner if Newcrest fails to complete any Stage after completing Stage 1 or if Newcrest elects not to proceed with Stage 2 or 3, following which Cornerstone will be required to contribute or suffer dilution of its participating interest according to a formula. If Newcrest completes Stage 1 and elects not to proceed to Stage 2, it will revert to a 49% non-controlling interest.
     

  • Cornerstone’s carried interest is not repayable out of project cash flows or otherwise.
     

  • Newcrest will be the operator at its own cost during the Initial Option Period, for a 5% fee during Stages 1, 2 and 3, and at 3% fee thereafter.


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this Heads of Agreement with them. Newcrest is also partnering with us on the Miocene project in Chile (see news release dated December 10, 2018). Cornerstone looks forward to seeing the Ecuadorian government providing regulatory certainty in the near term on the pathway for drilling.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-05Figures.pdf.


About Caña Brava and Tioloma


Caña Brava - Gold/Copper - (Cornerstone has the right to earn 100%)


On February 26, 2015, the Company announced results from prospecting and geological mapping surveys carried out during 2014 on the Caña Brava property located in south-central Ecuador. The surveys identified (1) two significant porphyry Cu-Au targets well defined by coincident geological, geochemical and ground magnetic anomalies, (2) an intermediate sulphidation, higher grade, epithermal Au-Ag-Cu veins-breccia system mapped on the northern margin of the porphyry targets, and (3) a high sulphidation epithermal Au-Ag system recognized in the northeast corner of the property. Subsequently, a trenching program was completed (20 trenches, 599 metres, 301 channel samples), spectrometry (Terraspec) work carried out on soil samples (552), rock chips and channel samples (706) and a Phase 1 drill program has been prepared.


An EIA was begun in July 2018, including an environmental base line study and consultation process. Base line study field work has been completed. The EIA will be submitted to the Ministry of Environment in the coming weeks.


The Company has the right to earn a 100% interest in the Caña Brava project from the original owner in return for cash option payments of $40,000 each 6 months until the Company decides to exercise the option by making a final payment of $350,000. The $350,000 payment may be made early, and the option exercised at any time.


Tioloma – Gold (100% Cornerstone)


Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property, thereby enlarging, and effectively creating a protective area of interest around, the Caña Brava property and on strike with a well-defined regional mineralized trend.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Dave Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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


 


1 Subject to JV partner SolGold satisfying certain conditions.

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8020Admin

7 months

8020Admin posted a press release Cornerstone to Settle Outstanding Indebtedness in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has agreed to settle C$350,000 of debt owing to legal advisors to the Company by issuing 1,129,032 common shares in the capital of the Company at a deemed price of C$0.31 per common share. The debt settlement transaction is subject to the approval of the TSX Venture Exchange and all common shares issued pursuant to the debt settlement transaction will be subject to a four-month statutory hold period.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations: 
Mario Drolet (Montreal); Email: Mario@mi3.ca
Tel. (514) 346-3813


Corporate Matters: Sabino Di Paola, CFO (Ottawa); Email: sdipaola@cornerstoneresources.ca;  
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


On Behalf of the Board, 
Brooke Macdonald
President and CEO


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

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8020Admin

7 months

8020Admin posted a press release Cornerstone and Newcrest sign Option and Farm-in Agreement for the Miocene gold-copper Project in Chile in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Ontario, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that Cornerstone and its subsidiary Minera Cornerstone Chile Ltda. have signed an option and farm-in agreement (the “Agreement”) with Newcrest International Pty Limited (“Newcrest”), a subsidiary of Newcrest Mining Limited (ASX: NCM) for Cornerstone’s Miocene properties in Chile (the “Project”), targeting epithermal gold-silver and porphyry gold-copper deposits along the interpreted northern extension of the Maricunga magmatic belt which hosts several world-class gold deposits.


HIGHLIGHTS (all $ are US$):


• Newcrest has the option to earn up to a 75% interest in the Project in stages, as follows:



  • 18-month initial option period: making an up-front payment to Cornerstone of $100,000, and spending a minimum of $1.1 million (committed);
     

  • Stage 1 (4 years): paying $500,000 to Cornerstone and spending a further $8 million (with a minimum of $500,000 in each year to maintain the option) to earn a 51% interest in the Project (such interest to be held through shares in a newly incorporated Chilean company);
     

  • Stage 2 (2 years): paying $650,000 to Cornerstone and completing a positive Preliminary Economic Assessment in accordance with National Instrument 43-101 on any target area in the Project, to increase its interest in the Project to 65% (Newcrest may extend Stage 2 to 3 years by paying Cornerstone $250,000); and
     

  • Stage 3 (2 years): incurring expenditures of $100 million or completing a bankable feasibility study (BFS), whichever occurs first, to increase its interest in the Project to 75% (Newcrest may extend Stage 3 by up to an additional 2 years by paying $500,000 to Cornerstone for each 1 year extension).


• If Newcrest earns a 75% interest, Cornerstone will have the option for 90 days to convert 5% (1/5th) of its 25% project equity into a 1% net smelter returns (NSR) royalty. Newcrest will have the right to buy down the royalty to 0.5% NSR at fair market value after delivery of the BFS.


• Cornerstone’s carried interest ends at the end of Stage 3 or sooner if Newcrest fails to complete any Stage after completing Stage 1 or if Newcrest elects not to proceed with Stage 2 or 3, following which Cornerstone will be required to contribute or suffer dilution of its participating interest according to a formula. If Newcrest completes Stage 1 and elects not to proceed to Stage 2, it will revert to a 49% non-controlling interest. 


• Cornerstone’s carried interest is not repayable out of project cash flows or otherwise.


• Newcrest will receive a 10% management fee (out of its own funding under the Agreement) during the 18-month initial option period and a 5% fee during Stages 1, 2 and 3.


President and CEO Brooke Macdonald said: "Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Indonesia, and we are pleased to have entered into this agreement with them. Newcrest is also actively exploring in Ecuador, where Cornerstone has a first mover advantage as a prospect generator in Ecuador since 2005, and several drill-ready properties available for option.”


Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR18-31Figures.pdf


About Miocene


The Miocene project is located in the Regions of Atacama and Antofagasta of northern Chile (see Figure 1), and is targeting epithermal gold-silver and porphyry gold-copper deposits along the interpreted northern extension of the Maricunga magmatic belt which hosts several world-class gold deposits. The Miocene claims were selected using a proprietary data base licensed exclusively to Cornerstone, and offer excellent potential for discovery. Significant epithermal mineralization has been discovered on neighboring properties along strike to the west of the Miocene property.


Exploration work to date has consisted largely of geochemistry work (both soil and rock sample work), ground geophysics, prospecting and geological mapping to prepare the property for its first drill program. Chile consistently ranks among the world's top mining jurisdictions.


Five prospective areas defined by geology (alteration minerals), geochemistry (gold and pathfinder elements) and ground magnetics have been identified by previous exploration work within the property limits.


Geology works shows two sub-parallel NW-SE oriented alteration / anomalous regional trends affecting the volcanic units. Alteration minerals (native sulphur, alunite, vuggy and massive silica and some silica-clay in the peripheral parts) and 3D distribution patterns along this trend are typical of high sulphidation epithermal systems. Altered and geochemically anomalous areas up to 9km by 3km in size have never been trenched nor drill tested.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project earnings or dividends, plus 9.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of approximately 23%.


Qualified Person:


Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone and has reviewed and approved the information contained in this news release.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: Sabino Di Paola, CFO (Ottawa); Email: sdipaola@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’  Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com.  For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature.  These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements.  Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release.   While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.


On Behalf of the Board,
Brooke Macdonald
President and CEO


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

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