| ||Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc. ("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) today announced that the Ministry of Environment (ME) of Ecuador has granted the environmental license for Cornerstone's Cascabel gold-copper project located in northern Ecuador (see news releases of February 17 and March 29, 2011). The license is valid for the 4-year initial exploration phase of the 5,000 hectare concession. A prospecting program has begun, where stream sediment geochemical anomalies are being followed up to locate and characterize the source of the anomalies and to define the geological environment. Results of this first-step reconnaissance work will be announced in the Fall.|
The Cascabel project is located in the Imbabura province in northern Ecuador, approximately 120 km north of Quito. The property comprises a single 50 km2 concession which is 100% owned by Cornerstone. The area is underlain by Cretaceous - Tertiary volcanic and sedimentary rocks which are intruded by a granodioritic stock. A well-defined multi-element (gold-copper-lead-zinc) anomaly measuring approximately 10 km2 has been identified with associated large areas of silica-sericite-pyrite-clay alteration. Several secondary stream sediment anomalies have also been identified within the property limits. Historic stream sediment samples have returned assay results ranging from trace up to 3.36 g/t Au and 456 ppm Cu. Rock grab samples of floats and outcrops collected by previous owners have returned assay results ranging from trace up to 1.03 g/t Au, 4.4 g/t Ag, 1.90% Cu and 0.71% Zn. Coarse free gold occurs in most streams throughout the property. Recent rock sampling (14 samples) by a previous owner returned anomalous gold (5 samples > 0.1 g/t Au, up to 1.8 g/t Au), silver (2 samples > 15 g/t Ag, up to 80.7 g/t Ag), copper (12 samples > 130 ppm Cu, up to 0.21% Cu) and zinc (8 samples > 130 ppm Zn, up to 1.0% Zn). Cornerstone considers the area to be prospective for both porphyry and skarn-style mineralization.
A map showing the location of the Cascabel project is provided here: www.cornerstoneresources.com.
Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador S.A. and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project and has reviewed and approved the information contained in this news release.
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Ecuador, Chile, and Atlantic Canada, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. The company is well funded and commitments from JV partners constitute significant validation of the strength of Cornerstone's projects. Further information is available on Cornerstone's website: www.cornerstoneresources.com.
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On Behalf of the Board,
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