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

News

#August 06, 2019
19-25 - Cornerstone Grants Stock Options

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that the Board of Directors of the Company has approved the granting of stock options totaling 500,000 options to directors, officers, consultants and employees of the Company effective August 6, 2019. These options have been priced at $4.00 and have an expiry date of August 5, 2024. As per the Company's Stock Option Plan, these options vest in three equal tranches over an eighteen-month period from the date of issue. Following this stock option grant (and the expiry of 122,500 options on August 19, 2019) the Company will have a total of 2,480,299 stock options outstanding, which represents approximately 7.7% of the Company's 32,007,070 issued and outstanding common shares.

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 Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone's distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed. In addition, Cornerstone has an indirect interest in the project comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc, for a total 22.8% direct and indirect interest in Cascabel.

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

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

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

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

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

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

 
#August 06, 2019
19-24 - Bramaderos Exploration Update -- Farm-in Partner Sunstone to ramp up exploration with 2 rigs drilling at West Zone gold prospect and Limon gold-copper porphyry prospect

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see "About Bramaderos", below).

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

http://www.cornerstoneresources.com/i/pdf/NR19-24Figures.pdf.

HIGHLIGHTS:

  • Second drill rig is mobilizing to the Bramaderos Project, and will commence drilling at the West Zone epithermal gold target during August
  • Existing drill rig moving from Bramaderos Main to Limon to drill hole LMDD003 targeting the Limon porphyry system
  • Assay results for Bramaderos Main hole BMDD001, and the upper portion of hole BMDD002 expected in mid-August

Second drill rig at Bramaderos: A second drilling rig has been engaged for the Bramaderos project and will be mobilized to commence drilling at the West Zone epithermal gold target during August (Figure 1).

The drilling program will comprise at least 5 drill holes for a minimum 1,000m and target interpreted hydrothermal breccia-hosted epithermal gold mineralization that in surface trenching has delivered (see Cornerstone news release dated November 8, 2017):

  • 28m at 3.9g/t gold in trench 8
    • Including 15.6m at 6.1g/t gold
  • 30m at 0.9g/t gold in trench 10
    • Including 9.8m at 1.7g/t gold

Existing drill rig moving to Limon: The drill rig which completed holes BMDD001 and 002 at Bramaderos Main has now been moved to Limon and is expected to commence drilling LMDD003 this week.

The priority of the Limon drilling ahead of Bramaderos Main was established after review of historical results from exploration at Limon and analysis of the results from holes LMDD001 and LMDD002.

LMDD002 drilled a 267m length of porphyry-related mineralization consisting of stockwork veining and intensely altered and weakly mineralized rock (see Cornerstone news releases dated May 30 and July 2, 2019). Re-interpretation of existing datasets, and review of results from LMDD002 have identified a target zone to the east of this hole and related to minor surface outcrops of breccia bodies that contain clasts of porphyry stockwork veined material.

It is expected that LMDD003 will take 4-5 weeks to drill.

Anticipated assay results from Bramaderos Main during August: It is expected that complete assay results from Bramaderos Main hole BMDD001, and the top 200m from hole BMDD002 will be received by the middle of August.

Assays from the remainder of hole BMDD002 will be received by mid-September.

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

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

Sampling and assaying
PLAMIN uses a fire assay gold technique for Au assays (FAS-111) and a four acid multi element technique (IMS-230) for a suite of 48 elements. FAS-111 involves Au by Fire Assay on a 30-gram aliquot, fusion and atomic absorption spectroscopy (AAS) at trace levels. IMS-20 is considered a near total 4 acid technique using a 20g aliquot followed by multi-element analysis by ICP-AES/MS at ultra-trace levels. This analysis technique is considered suitable for this style of mineralization.

Standards, blanks and duplicates are inserted ~1/28 samples. The values of the standards range from low to high grade and are considered appropriate to monitor performance of values near cut-off and near the mean grade of the deposit. The check sampling results are monitored and performance issues are communicated to the laboratory if necessary.

Sample security was managed through sealed individual samples and sealed bags of multiple samples for secure delivery to the laboratory by permanent staff of the joint-venture. MS Analytical is an internationally accredited laboratory that has all its internal procedures heavily scrutinized in order to maintain their accreditation. MS Analytical is accredited to ISO/IEC 17025 2005 Accredited Methods.

PLAMIN's sampling techniques and data have been audited multiple times by independent mining consultants during various project assessments. These audits have concluded that the sampling techniques and data management are to industry standards. All historical data has been validated to the best degree possible and migrated into a database.

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. Cornerstone's carried interest through to completion of the feasibility study is repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel.

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

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

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

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

On Behalf of the Board,
Brooke Macdonald
President and CEO

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

 
#July 19, 2019
19-23 - Cascabel Exploration Update - Pre-Feasibility Work Program & Alpala Drilling Campaign

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

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

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

HIGHLIGHTS:

  • An additional 68,354m of drilling has now been completed since the release of the updated Mineral Resource on November 20, 2018 (MRE #2)1. Over 201,930m of resource drilling has now been assayed ahead of the upcoming third Mineral Resource update (MRE#3) later this year.
  • Resource extension drilling at the Alpala Deposit continues targeting extensions to high-grade outliers peripheral to it at Alpala Northwest, Trivinio, Alpala North, and Alpala Southeast, and with drilling also targeting mineralization at the newly identified Alpala Southwest area.
  • Cascabel drilling fleet expanding - 15 drill rigs are expected to be active on the project by September 2019 as the Company bolsters its fleet, expediting the planned Alpala Deposit Pre-Feasibility Study (PFS).
  • Drilling is focused on continued resource extension and infill drilling along the Alpala trend as well as geotechnical, hydrological, hydrogeological, metallurgical and petrophysical work.

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

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

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

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

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

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

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

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

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

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

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

The Alpala South mineralization is still not closed off by drilling and is open to the south and towards surface, as revealed by the Hole 89 intersection: 420m @ 0.61% CuEq (0.43% Cu; 0.30 g/t Au, from 334m depth, true width 168m). For these reported results, sample preparation was performed by ALS Quito, and analysis performed by ALS Lima. Both laboratories are independent of SolGold and are accredited for the analysis methods used.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 
#July 18, 2019
19-22 - Bramaderos Exploration Update -- Strong assays received for upper portion of drill hole BMDD001 from the Bramaderos Main gold-copper prospect

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see "About Bramaderos", below).

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

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

HIGHLIGHTS:

  • Initial assay results from the upper portion of the first hole (BMDD001) drilled at the Bramaderos Main prospect indicate a well mineralized porphyry system and include:
    • 164m1 at 0.77g/t gold equivalent (from 11.45m downhole) comprising 0.52g/t gold, 0.16% copper including,
      • 96.6m at 0.90 g/t gold equivalent (from 78.8m downhole) comprising 0.61g/t gold, 0.18% copper
    • 54m at 0.80 g/t gold equivalent (from 301m downhole) comprising 0.50g/t gold, 0.19% copper
    • Gold equivalents are based on gold and copper assays only and using metal price assumptions as shown in the note to Table 1 below
  • The assay results support and extend the historical results from drill hole CURI-03 which was mineralized from 9m to 257m (end of hole) and returned 248m at 0.56g/t gold and 0.14% copper and is located approximately 50m from BMDD001
  • Assays for the remaining intervals from BMDD001 are expected in August
The first hole at the outcropping Bramaderos Main porphyry target, BMDD001, was completed at 669.49m depth (Figures 1 & 2). Assays received to date are for the upper portion of the drill hole only and are provided in Table 1. Assay results for the complete hole are expected to be released in August.

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

Cornerstone Vice President, Exploration, Yvan Crepeau said:

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

Table 1: Significant intersections BMDD001
Hole ID From To Interval Au (g/t) Cu (%) Au_Equiv Ag
BMDD001 11.45 175.4 164.0 0.52 0.16 0.77 1.84
Incl. 78.8 175.4 96.6 0.61 0.18 0.90 2.08
BMDD001 301.05 355.05 54.0 0.50 0.19 0.80 2.17
Incl. 301.05 337.05 36.0 0.58 0.19 0.88 1.97

Note: The gold equivalent grade was calculated using the following formula: Au Equiv g/t = Au g/t + (1.55 * Cu %). Gold equivalent has been calculated using a copper price of $US 2.96/lb, a gold price of $US 1305/oz, and assuming 100% recovery for both gold and copper.

Hole BMDD002 is in progress at approximately 640m and is located ~150m to the south of BMDD001 to test the interpreted down-plunge geometry of the porphyry system. The expected end of hole depth for BMDD002 is ~800m.

The overall Bramaderos Project Phase 1 drilling program across the three targets of Limon, Bramaderos Main and West Zone is anticipated to be ~5,000m (See Figure 3 for target/prospect locations). Drilling at the West Zone target, where surface trenching has delivered 15.6m at 6.1g/t gold, is expected to follow later in the program (see Cornerstone news release dated November 8, 2017).

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

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

Sampling and assaying
PLAMIN uses a fire assay gold technique for Au assays (FAS-111) and a four acid multi element technique (IMS-230) for a suite of 48 elements. FAS-111 involves Au by Fire Assay on a 30-gram aliquot, fusion and atomic absorption spectroscopy (AAS) at trace levels. IMS-20 is considered a near total 4 acid technique using a 20g aliquot followed by multi-element analysis by ICP-AES/MS at ultra-trace levels. This analysis technique is considered suitable for this style of mineralization.

Standards, blanks and duplicates are inserted ~1/28 samples. The values of the standards range from low to high grade and are considered appropriate to monitor performance of values near cut-off and near the mean grade of the deposit. The check sampling results are monitored and performance issues are communicated to the laboratory if necessary.

Sample security was managed through sealed individual samples and sealed bags of multiple samples for secure delivery to the laboratory by permanent staff of the joint-venture. MS Analytical is an internationally accredited laboratory that has all its internal procedures heavily scrutinized in order to maintain their accreditation. MS Analytical is accredited to ISO/IEC 17025 2005 Accredited Methods.

PLAMIN's sampling techniques and data have been audited multiple times by independent mining consultants during various project assessments. These audits have concluded that the sampling techniques and data management are to industry standards. All historical data has been validated to the best degree possible and migrated into a database.

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. Cornerstone's carried interest through to completion of the feasibility study is repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel.

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

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

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

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

On Behalf of the Board,
Brooke Macdonald
President and CEO

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

 
#July 11, 2019
19-21 - CORNERSTONE ANNOUNCES EFFECTIVE DATE FOR SHARE CONSOLIDATION

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

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

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

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

No fractional Common Shares will be issued upon the Share Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the Share Consolidation, the number of Common Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Common Share is less than one half (1/2) of a Common Share, and will be rounded up to the next whole number of Common Shares if that fractional Common Share is equal to or greater than one half (1/2) of a Common Share.

There are 640,141,422 Common Shares currently issued and outstanding. Following completion of the Share Consolidation, the Company will have approximately 32,007,071 Common Shares issued and outstanding (on a non-diluted basis and subject to rounding to account for fractional shares).

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

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

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

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

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

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

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

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

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

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

 

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