CORNERSTONE CAPITAL RESOURCES INC : http://www.cornerstoneresources.com/ : QwikReport

News

#February 08, 2019
19-04 - Cornerstone Responds to Second SolGold Announcement

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) notes the press release of SolGold plc ("SolGold") issued on February 8, 2019 announcing for the second time their intention to commence an offer to acquire all of the issued and outstanding common shares of Cornerstone.

As previously announced by Cornerstone, shareholders of the Company that collectively own over 50% of the Company's outstanding shares have notified Cornerstone that they will not support the terms announced by SolGold. As a result, if SolGold proceeds to make a formal offer on these terms, the Company believes that SolGold's offer would be incapable of being successfully completed.

The Board of Directors of Cornerstone has assessed the SolGold proposal with its financial advisor and continues to believe that the proposal significantly undervalues Cornerstone. Cornerstone owns 15% of Exploraciones Novomining S.A., the Ecuadorean company owned by SolGold and Cornerstone which holds 100% of the Cascabel concession. In addition, Cornerstone owns approximately 9.2% of the outstanding shares of SolGold. In effect, Cornerstone has a combined direct and indirect 23% interest in the Cascabel concession. SolGold's proposal would result in Cornerstone shareholders owning approximately 18% of SolGold, effectively a 22% reduction in their interest in Cascabel, which is why the offer was so swiftly opposed by so many Cornerstone shareholders.

Cornerstone is disappointed by SolGold's latest press release. It contains numerous inaccurate and misleading statements and baseless innuendo. For example, SolGold states that their "significant premium" of 20% is equal to the highest price Cornerstone has enjoyed in 2 years. This is false. On July 17, 2017 Cornerstone traded as high as C$0.55 per share whereas the implied value of SolGold's proposal is C$0.35.

Cornerstone remains open to constructively discussing with SolGold and other potential bidders any value enhancing transaction that would garner the support of Cornerstone's shareholders.

In the event SolGold does make a formal offer, Cornerstone will promptly prepare and issue a directors' circular that will clearly and accurately address any such offer.

Cornerstone shareholders are advised to take no action at this time and wait for further updates from the Company.

Commenting on today's release, Cornerstone President & Chief Executive Officer, Brooke Macdonald, said: "Cornerstone, as the operator of the Cascabel project up until the major discovery was made with drill hole #5, is disappointed that SolGold has not put out the PEA that initially was supposed to be released in January 2019, that would highlight the significance of the discovery made by the Cornerstone team and assist Cornerstone shareholders in properly assessing the value of the Cascabel concession."

About the Cascabel Joint Venture with SolGold:
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 is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold is entitled to 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.

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:
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.

 
#January 31, 2019
19-03 - Cornerstone Responds to SolGold Announcement

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) notes the press release of SolGold plc ("SolGold") issued on January 31, 2019 that announces their intention to commence an offer to acquire all of the issued and outstanding common shares of Cornerstone.

Despite SolGold not intending to make a formal offer before the end of February, Cornerstone has been advised by shareholders that collectively own over 50% of the outstanding shares of the Company that they will not support the terms of the proposed offer announced by SolGold. Given that the Canadian takeover rules require the majority of the outstanding shares (excluding shares held by SolGold) be tendered to a formal offer before any shares can be taken up, SolGold's proposed offer, if formalized, is incapable of being completed.

Cornerstone will evaluate if any parties are acting in concert with SolGold and consider what actions, if any, to take if that is the case.

SolGold makes other statements in their press release which Cornerstone disagrees with. Given that a majority of Cornerstone's shareholders do not support the offer, the Company does not intend to respond to SolGold's other statements at this time. Cornerstone's shareholders are advised to take no action at this time and wait for further updates from the Company.

Commenting on today's release, Cornerstone President & Chief Executive Officer, Brooke Macdonald, said: "We respect the views of our shareholders and given the underwhelming proposal made by SolGold we are not surprised in the least, that it has been rejected so swiftly by a majority of our shareholders even before a formal offer is made.

Cornerstone is open to discussing with SolGold and any other potential bidders any value enhancing transaction that would garner the support of our shareholders.

We recognize that the proposed SolGold offer does not release the BHP Group from their unusual standstill on Cornerstone, that was agreed between the BHP Group and SolGold, so unfortunately the BHP Group may well be left on the sidelines as Cornerstone pursues other value enhancing alternatives that fairly value Cornerstone for its strategic, direct and indirect position in Cascabel, the ENAMI joint venture and other assets.

Cornerstone shareholders should also be aware that the Blanca, Nieves and Rio Mira concessions that SolGold incorrectly states are 100% owned by SolGold are in fact within the 5 km area of interest of the Cascabel concession and Cornerstone's 15% carried interest (described below) applies to these concessions too. In fact, SolGold's 85% interest is conditional on it fulfilling its obligations with respect to Cornerstone's carried interest. To date, SolGold has not agreed to terms that reasonably reflect the contractual arrangements regarding this interest or other identified compliance issues."

About the Cascabel Joint Venture with SolGold:
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 is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold is entitled to 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.

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,
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.

 
#January 11, 2019
19-02 - Cornerstone Adopts Shareholder Rights Plan

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that its board of directors (the "Board") has approved the adoption of a Shareholder Rights Plan (the "Rights Plan") pursuant to a shareholder rights plan agreement entered into with Computershare Trust Company of Canada, as Rights Agent, dated January 11, 2019. The Rights Plan is subject to the approval of the TSX Venture Exchange. While the Rights Plan is effective as of January 11, 2019, it is subject to shareholder ratification within six months of its adoption. The Rights Plan will be submitted for ratification by the Company's shareholders at the upcoming 2019 annual and special meeting of the Company's shareholders (the "Meeting"), which will be held within six months of January 11, 2019. If the Rights Plan is not ratified by the Company's shareholders, it will automatically terminate. If ratified by shareholders, the Rights Plan will remain in effect until the close of the third annual meeting of shareholders following the Meeting.

The Rights Plan has been adopted to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any unsolicited take-over bid or other acquisition of control of the Company and that the Board is provided with adequate time to evaluate unsolicited take-over bids or other acquisitions and to identify, solicit, develop and negotiate value-enhancing alternatives, if appropriate, to such take-over bid or acquisition. The Rights Plan is not being adopted in response to any specific proposal to acquire control of the Company, and the Board is not aware of any pending or threatened take-over bid for the Company.

The Rights Plan is similar to shareholder rights plans adopted by other public companies. Pursuant and subject to the terms of the Rights Plan, one right will be issued by the Company for each outstanding common share of the Company as at January 11, 2019 and for each common share of the Company issued thereafter. Subject to the terms of the Rights Plan, the rights issued under the Rights Plan become exercisable only if a person (the "Acquiring Person"), together with certain related persons, acquires or announces its intention to acquire 20% or more of the Common Shares without complying with the "Permitted Bid" provisions of the Rights Plan. Upon the acquisition by an Acquiring Person of 20% or more of the Common Shares, each right would, upon exercise, entitle a rights holder, other than the Acquiring Person and certain related persons, to purchase common shares of the Company at a 50% discount to the market price at the time. At any time prior to the rights becoming exercisable, the Board may waive the operation of the Rights Plan with respect to certain events before they occur.

Under the Rights Plan, a "Permitted Bid" is a take-over bid made in compliance with the Canadian take-over bid regime. Specifically, a Permitted Bid is a take-over bid that is made to all shareholders, that is open for 105 days (or such shorter period as is permitted under the bid regime) and that contains certain conditions, including that no shares will be taken up and paid for unless 50% of the shares that are held by independent shareholders are tendered to the take-over bid.

The full text of the Rights Plan will be available under the Company's profile on SEDAR at www.sedar.com and a copy of the Rights Plan will be included in the management information circular that will be sent to shareholders in connection with the Meeting.

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: Dave Loveys, CFO (Ottawa); 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

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) access responsibility for the adequacy or accuracy of this release.

 
#January 03, 2019
19-01 - Cornerstone files Technical Report for Updated Alpala Mineral Resource Estimate

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces that it has filed on SEDAR a technical report for the updated Mineral Resource Estimate announced November 20, 2018 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).

Cascabel is a copper-gold porphyry joint venture exploration project in northern 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%.

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/NR19-01Figures.pdf.

HIGHLIGHTS:

  • Alpala deposit updated Mineral Resource Estimate (MRE)2 reports 2.05 Bt @ 0.60% copper equivalent ("CuEq") (8.4 Mt Cu, 19.4 Moz Au) Indicated (at a 0.2% CuEq cut-off grade), plus 900 Mt @ 0.35% CuEq (2.5 Mt Cu, 3.8 Moz Au) Inferred (at 0.2% CuEq cut-off), including:
    • High grade core of 400 Mt @1.49% CuEq (3.6 Mt Cu, 11.9 Moz Au) Indicated plus 20 Mt @ 1.05% CuEq (0.2 Mt Cu, 0.4 Moz Au) Inferred (both at 0.9% CuEq cut-off)
  • MRE reported using a cut-off grade of 0.2% CuEq, reflecting the reasonable potential for economic extraction by high production rate mass mining methods such as block caving.
  • Potential for further growth with the 2019 drilling campaign to continue to expand the deposit at Alpala SE, Alpala NW, Trivinio and Alpala Western Limb.

The reader is cautioned that it is uncertain that further exploration will result in the conversion of unclassified mineralization to Inferred Mineral Resources, the upgrading of Inferred Mineral Resources to Indicated Mineral Resources, or the additional targets on Cascabel being delineated as a mineral resource.

FURTHER INFORMATION:
Cascabel is located in northwestern Ecuador in an under-explored northern section of the Andean Copper Belt, 60 km northeast of the undeveloped inferred resource of 982 million tons at 0.89% Cu Llurimaga (formerly Junin) copper project3 (Figure 1).

Alpala Mineral Resource Estimate Update
SRK Consulting (UK) Limited was retained by SolGold to prepare an updated Mineral Resource estimate and an independent National Instrument 43-101 report on the Alpala Deposit. The resource estimate technical report was prepared by SRK Project Manager, Mr Martin Pittuck using all available information.

The Alpala MRE update was estimated from 68,173 assays, with 66,739 assays representing diamond drill core samples, and 1434 assays representing rock-saw channel samples cut from surface rock exposures. Drill core samples were obtained from total of 133,576m of drilling comprising 128 diamond drill holes, including 75 drill holes (Holes 1-75), 34 daughter holes, 8 redrills, and 11 over-runs, and represents full assay data from holes 1-67 and partial assay data received from holes 68 to 75. Rock-saw samples were obtained from 2743m of rock-saw cuts from 262 surface rock exposure trenches.


Table 1: Overall Mineral Resource Statement for the Alpala Copper-Gold Deposit, effective November 7, 2018

The MRE update is reported using a cut-off grade of 0.2% copper-equivalent (CuEq) which joint venture partner and project operator SolGold and SRK Consulting consider to be reasonable, reflecting the potential for economic extraction by high production rate mass mining methods such as block caving. The central portions of the deposit present an opportunity for early extraction of higher grade material.

The updated MRE is presented on a 100% basis and has an effective date of November 7, 2018. It represents an overall increase of 259% (by metal content) of indicated resources from 3.4Mt CuEq in Dec 2017 Maiden MRE (at a cut-off of 0.3% CuEq) to the current 12.2 Mt CuEq (at a cut-off of 0.2% CuEq) associated to an overall decrease of 20% (by metal content) in the inferred category from 4.0 Mt CuEq in Dec 2017 Maiden MRE to the current 3.4 Mt CuEq.

The MRE update for the high grade core zone also represents an increase of 392% (by metal content) of indicated resources from 1.2Mt CuEq in the December 2017 Maiden MRE (at a cut-off of 1.1% CuEq) to the current 5.9 Mt CuEq (at a cut-off of 0.9% CuEq), associated to a decrease of 75% (by metal content) in the inferred category from 0.8 Mt CuEq in the December 2017 Maiden MRE to the current 0.2 Mt CuEq.


Table 2: Mineral Resource Statement for the Alpala Copper-Gold Deposit expressed by a range in copper-equivalent cut-off grades, effective November 7, 2018. Refer to the explanation for Table 1 for description and qualifications that pertain to the resource statement.

There remains strong potential for further growth with the 2019 drilling campaign to continue to expand the deposit at Alpala SE, Alpala NW, Trivinio and Alpala Western Limb (Figure 2). These target areas all fall within large magnetic inversion anomalies that are continuous with the magnetic anomaly encompassing the Alpala deposit, where the magnetic response is attributed to the strong correlation of magnetite with the chalcopyrite mineralization.

About the Cascabel Joint Venture with SolGold:
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 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.

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).

Quality assurance / Quality control (QA/QC)
The ALS 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 15-20 samples). Rejects, a 100 g pulp for each core sample and the remaining half-core are stored for future use and controls.

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.

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 (Ottawa); 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 SolGold satisfying certain conditions. See "About the Cascabel Joint Venture with SolGold" below.
2 See heading below titled "Alpala Mineral Resource Estimate Update".
3 0.4% Cu cut-off grade; Micon International Co. Ltd. Technical Report for Ascendant Exploration SA, August 20, 2004, pages 28 & 29. Mineralization identified at the Llurimaga copper project is not necessarily indicative of the mineralization on the Cascabel Property.

 
#December 31, 2018
18-34 - Cornerstone announces new CFO

 Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that effective January 1, 2019 director and former CFO David Loveys will again become CFO and Corporate Secretary of the Company and current CFO Sabino Di Paola will step into the role of Controller.

Brooke Macdonald, Cornerstone's CEO, said: "This change is occurring at Sabino's request, who expressed an interest in reducing his responsibilities to be able to devote more time to developing his accounting consulting business. We are very pleased that David Loveys, who is a former CFO of the Company and a long-time director, has agreed to step back into the CFO role, and we are equally pleased that Sabino will continue to provide us with his expertise as we enter what we expect will be an exciting 2019 for shareholders."

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% interest 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%.

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 (Ottawa); 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.
 

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