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, and a joint venture with Ecuadorian state mining company ENAMI EP ...

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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% int......

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5 hours

8020 Admin 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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8020 Admin 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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8020 Admin

23 days

8020 Admin 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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8020 Admin

3 months

8020 Admin 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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8020 Admin

3 months

8020 Admin 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, and a joint venture with Ecuadorian state mining company ENAMI EP ...

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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% int......

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5 hours

8020 Admin 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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8020 Admin 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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8020 Admin

23 days

8020 Admin 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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8020 Admin

3 months

8020 Admin 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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8020 Admin

3 months

8020 Admin 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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