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

News

#August 28, 2019
19-29 - Sunstone earns 51% ownership in the Bramaderos gold-copper project in Ecuador

 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 49% owned Bramaderos gold and copper project in southern Ecuador, which it is exploring together with 51% joint venture funding partner Sunstone Metals Limited (ASX: STM) under a farm-in agreement (see "About Bramaderos", below).

HIGHLIGHTS:

  • Project expenditure to earn the initial 51% interest in Bramaderos has been met
  • Sunstone has a 90 day period to make an election to proceed to 70% ownership
  • Drilling continues at the Limon target
  • Mobilization of the second drill rig to the high-grade West Zone gold target is near completion and drilling is expected to commence next week

The required expenditure of US$3.4M on the Property has been exceeded and Sunstone has earned a 51% interest in the Bramaderos Concession through a 51% shareholding in La Plata Minerales S.A. (PLAMIN) the holder of the Bramaderos concession.

Sunstone has elected to exercise the option to become the project operator, and now has a 90 day period within which to make an election to move to 70% ownership by funding all expenditures on the Property up to and including the completion of a feasibility study (as defined in the CIM Standards for Mineral Resources & Mineral Reserves) within five years and making a payment to Cornerstone of the greater of US$250,000 or US$1/gold equivalent ounce in Measured and Indicated Resources in the feasibility study.

Cornerstone CEO Brooke Macdonald said:

"We are very pleased to have reached this milestone and look forward to continuing our exploration program at the exciting Bramaderos Project. We value our relationship with Sunstone and will look to advance the exploration activities and deliver significant value growth for our shareholders through discovery of gold and copper at Bramaderos. The results from our drilling activities to date are delivering significant grades and widths of mineralization and demonstrate the potential to deliver a sizeable gold-copper system."

Drilling at the Limon prospect is progressing well and drilling at the high-grade West Zone gold target utilizing a second rig is expected to commence next week.

About Bramaderos
Measuring 4,949 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.

The Bramaderos concession is owned by La Plata Minerales S.A. ("PLAMIN"), which in turn is owned 51% by Sunstone and 49% by Cornerstone, Sunstone having earned its initial 51% interest by spending US$3.4 million over 3 years to complete a phase 1 drill program. Sunstone has 90 days (i.e., until November 27, 2019) to elect to earn an additional 19% to go to 70% by funding a bankable feasibility study within 5 years, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see Cornerstone news releases dated April 10, 2017 and August 28, 2019).

Sunstone has elected to take over as operator now that it has earned its initial 51% interest.

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 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,
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 27, 2019
19-28 - Updated exploration model indicates discovery potential at Bramaderos

  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/NR19-28Figures.pdf.

HIGHLIGHTS:

  • Interpretation of regional datasets reinforces the high prospectivity of a broad suite of targets at Bramaderos
  • The recent drill results together with other datasets are delivering a robust and predictive model to guide exploration
  • Multiple targets identified for both porphyry gold-copper and epithermal gold
  • Recent drilling at Bramaderos Main increases Cornerstone's and Sunstone's confidence that they will deliver on their discovery goals at Bramaderos
  • Detailed soil sampling and ground magnetics surveys are in progress over several additional targets to prepare them for drilling
  • Drilling at Limon is ongoing and further drilling is planned for Bramaderos Main to follow-up the highly encouraging drill results received to date from this initial program (see Cornerstone news release dated August 26, 2019)
  • High grade gold being targeted at the West Zone epithermal target with the drill rig on site by the end of August. First hole to follow up on 6.9m at 12.7g/t gold within a broader interval of 30m at 3.6g/t gold in trench TR-LB06 (see Cornerstone news release dated November 8, 2017)
With the first few drill holes completed at Bramaderos Main and Limon, the concession-wide exploration data sets have undergone an iterative review and are presented to provide context for the bullish position that Cornerstone and Sunstone hold with regards to the greater Bramaderos Project. Bramaderos is highly prospective for the discovery of porphyry gold-copper and epithermal gold systems.

The series of images in the Figures show our exploration model based on geology, surface geochemistry and geophysics across the Bramaderos concession. We believe these demonstrate that the Bramaderos concession contains numerous highly prospective porphyry gold-copper and epithermal gold systems.

Cornerstone Vice President Exploration, Yvan Crepeau, said:

"While still in the early stage, the exploration program at Bramaderos has delivered some very good results. The grades and potential scale of the porphyry gold-copper systems are in line with our expectations at this very early stage of exploration.

"At Bramaderos Main, we are defining a large gold-copper porphyry system and within that are domains of compelling grades and widths. Exploration is a business of chasing these and understanding their geometry, which we are doing, and we remain confident that we will deliver on this early potential.

"We also have multiple other targets such as Limon that are undergoing drill testing as well. And we are also excited to be commencing drilling at the high-grade West Zone epithermal gold target where our first hole will drill underneath 6.9m at 12.7g/t gold within a broader interval of 30m at 3.6g/t gold in trench TR-LB06 (see Cornerstone news release 17-40 dated November 8, 2017).

"We have a lot to do, we are well funded by our farm-in partner Sunstone to progress this work, and we are fortunate to have multiple targets within our concession."

Limon, Bramaderos Main and West Zone are in the initial drill test phase. Cornerstone and Sunstone are a little over half way through our Phase 1 drilling program of 5,000m. Further drilling will be undertaken at all three prospects as part of this initial Phase 1 program. Additional targets are being refined at Porotillo, Gangue, Playas and El Espiritu.

Exploration Model (see Figure 1):
Integration of exploration datasets is delivering a robust and predictive model to guide exploration.

The Bramaderos concession lies within a geological setting that is typical of porphyry gold-copper and epithermal mineralization environments. Interpretation of detailed topography and regional geology demonstrates a likely eroded granitic and volcanic domain forming a circular subvolcanic ring structure, which is dissected to the east by the Playas river (interpreted here as the Rio Playas Fault Zone) (Figure 1).

The relationship of this ring structure, with the mapped Tangula Batholith, structural mapping from magnetics and geochemical anomalies, and the location of known areas of mineralization forms the basis for a predictive exploration model, with coincident features that support the definition of highly rated exploration targets.

At Bramaderos we have outcropping porphyry and epithermal mineralization, and we have all of the ingredients to support an optimistic view of the discovery potential.

Many targets have been defined. Three of these have been only partly tested with historical drilling and much of that testing is shown to be ineffective based on our recent exploration. Cornerstone and Sunstone have tested 2 targets with only 2 drill holes each, and so are in the very early stages of this exploration program.

Geochemistry (see Figures 2-5):
Porphyry gold-copper targets
Images of the distribution of copper and gold in soil samples across the entire concession show domains of elevated metal values that are prospective for gold-copper porphyry systems.

Figures 2, 3, 4 and 5 clearly display multiple targets defined in several datasets.

  • Gold anomalism defines a 4.4km x 2.5km anomaly encompassing Bramaderos Main, Melonal, Porotillo and Gangue porphyry gold-copper targets
  • Copper anomalism shows a very similar pattern to gold, and covers an area of 3.7km x 1.3km
  • An additional strong copper anomaly is defined at the Playas target
  • The weaker geochemical response at Limon is due to the target sitting below altered rock that comprises a 'lithocap'
  • Other elements such as molybdenum, bismuth, selenium, tellurium, sulphur and manganese also define porphyry gold-copper targets through direct association with copper and gold, or through peripheral anomaly positions

The figures also show that within the Bramaderos concession there is an extensive domain that includes all porphyry gold copper targets -- clearly defined in the Copper/Zinc image in Figure 4. This domain contains at least 6 porphyry targets. The copper-on-zinc ratio is commonly used to vector towards mineralized systems because copper is more common within those systems and zinc more common peripheral to those systems.

Epithermal Gold targets (see Figure 5):
West Zone is a high-grade epithermal gold target currently defined by surface mapping and trenching. Epithermal gold targets are typically geometrically smaller than porphyry targets, but of significantly higher grade. This is the same pattern we are seeing at West Zone and the first drill hole is due to commence in the next week and will follow up on 6.9m at 12.7g/t gold within a broader interval of 30m at 3.6g/t gold in trench TR-LB06 (see Cornerstone news release dated November 8, 2017).

Detailed interrogation of soil data has defined several other similar targets to West Zone that are currently being followed up. These additional targets are defined in multiple datasets. Figure 5 shows the NE-SW trending Epithermal Target Trend, defined in this case by elevated mercury and showing multiple targets along a corridor at least 4km long.

Detailed soil sampling is in progress over these targets which are collectively referred to as the El Espiritu trend.

Geophysics (Figures 6-8):
It has been established at Bramaderos Main that magnetic bodies correlate strongly with areas of porphyry gold-copper mineralization, and that within those bodies higher grade domains exist that represent potential porphyry gold-copper deposits (Figures 6, 7 and 8).

Porotillo, Gangue and Playas are highly rated on this basis and will be drill tested.

About Bramaderos
Measuring 4,949 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.

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 Cornerstone news release 17-08 dated April 10, 2017).

Cornerstone is currently the operator of the project, with Sunstone having the right to take over as operator once it has earned its initial 51% interest.

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 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,
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 26, 2019
19-27 - Drilling at Bramaderos Main returns strong results of 55.8m at 0.74g/t gold and 0.15% copper in outcropping porphyry gold-copper system

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

http://www.cornerstoneresources.com/i/pdf/NR19-27Figures.pdf.

HIGHLIGHTS:

  • Assays received for the 200-400m interval of the second hole drilled at Bramaderos Main (BMDD002) contain significant higher-grade gold-copper zones, including a down hole width1 of 55.8m at 0.74g/t gold and 0.15% copper from 250m (including 18m at 1.04g/t gold and 0.19% copper from 266.0m)
Assay results from the interval 200m to 400m in the second hole drilled at the Bramaderos Main target confirm zones of higher-grade gold and copper and suggest strong discovery potential.

Cornerstone Vice President Exploration, Yvan Crepeau, said:
"These are very good results and support our optimistic view of the Bramaderos Main target. We have only drilled 2 holes and yet we are delivering significant grades and widths that have the potential to deliver a sizeable gold-copper system extending from surface outcrop to at least 400m below surface, and with opportunity to have a lateral extent well beyond 500m x 250m. We believe we are on the path to delivering an outcropping porphyry gold-copper system of attractive grade and scale. With results from BMDD001 and 002, we can now move forward with confidence at Bramaderos Main, and we have other targets such as Limon, West Zone, and Porotillo to advance as well."

Significant results include:

  • 241.6m at 0.42g/t gold and 0.14% copper from 68.7m, including;
    • 72.8m at 0.68g/t gold and 0.16% copper from 234.3m, including;
      • 55.8m at 0.74g/t gold and 0.15% copper from 250.0m, including;
        • 18.1m at 1.04g/t gold and 0.19% copper from 266.0m, and
        • 6.1m at 0.81g/t gold and 0.14% copper from 291.6m

Cornerstone believes Bramaderos Main demonstrates strong potential because:

  • Higher-grade zones exist and have now been defined on two cross sections spaced approximately 130 apart containing holes BMDD001 and BMDD002, and in several domains at surface from trenching
  • Multiple targets for higher-grade zones can now be defined with confidence and will be drill tested over the coming months
  • Improved modeling of magnetics suggests a more sub-vertical system and with considerable vertical extent. The higher-grade domains occur within a much larger lower grade gold-copper porphyry system which correlates strongly with the geometry of a large magnetic body and so can be targeted up and down plunge
  • The area to the north-west and below the main Bramaderos Hill, measuring 500m in diameter, is also now emerging as a significant target supported by several datasets
The higher-grade zones intersected in BMDD002 are within a broad, well mineralized lower-grade porphyry system and appear to be steeply dipping (Figure 1). This is comparable and similar to the higher-grade intervals intersected in BMDD001 located approximately 130m to the northeast (Figure 2). At surface, the higher-grade gold domains are evident in outcrop and trenches and lie within an extensive gold-in-soil anomaly (Figure 3), suggesting significant target scale exists at Bramaderos Main (Figure 4).

The table below shows mineralized intersections received to date for BMDD002. (Assays for the top 199.35m were first reported in Cornerstone news release dated August 20, 2019):

Hole ID From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Copper (%)
BMDD002 8.4 68.7 60.3 0.18 0.82 0.10
  68.7 310.3 241.6 0.42 1.82 0.14
incl. 234.3 307.1 72.8 0.68 2.17 0.16
incl. 250.0 305.8 55.8 0.74 2.24 0.15
incl. 266.0 284.1 18.1 1.04 2.91 0.19
incl. 291.6 297.7 6.1 0.81 1.43 0.14
and 320.5 328.8 8.3 0.34 1.29 0.07
*BMDD002 end of hole depth is 834.8m. It has been sampled in its entirety, but assay results have been returned only to a depth of 400m to date. See Plates 1 & 2 in the Figures link to see photos of quartz veining in some of the sample intervals.

Next Steps

  • Assays for the remaining intervals of BMDD002 (400m to end of hole at 834.8m) are expected in September
  • Drilling is underway at the Limon prospect with an announcement on drill core visual results expected in mid to late September
  • At the completion of the current hole at Limon, the rig will likely return to Bramaderos Main to pursue the high-grade zones defined by BMDD001 and BMDD002
  • A second rig has been mobilized to site and will drill the high-grade West Zone breccia target
About Bramaderos
Measuring 4,949 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.

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 Cornerstone 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 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,
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 True widths cannot be determined at this time from the limited number of holes drilled.

 
#August 20, 2019
19-26 - Bramaderos Main drilling results define areas of higher-grade gold and copper within large porphyry system - Further drilling will aim to extend these higher-grade zones

  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/NR19-26Figures.pdf.

HIGHLIGHTS:

  • Assay results from Bramaderos Main hole BMDD001 and the top 200m of hole BMDD002 have identified zones of higher-grade gold and copper within a large lower-grade porphyry gold-copper system
  • Higher-grade zones include down hole widths of up to 97m at 0.61g/t gold and 0.18% copper from 39.3m down hole in BMDD001
  • Definition of the higher-grade zones in drill holes is in the early stages, but they do outcrop in at least 3 domains defined in trench and soil sampling
  • Further drilling will test the potential for significant scale to this system, with lateral and vertical continuity of the higher-grade zones along a NW trend, and on the NE side of the Bramaderos Main prospect
Bramaderos Main: Assay results from the complete hole BMDD001, and from the top 200m of BMDD002 have been received.

The results confirm zones of higher-grade gold and copper within a large low-grade gold-copper porphyry system. The geometry of the large gold-copper porphyry system at and near surface correlates strongly with the geometry of the upper-most part of a large plunging and vertically extensive magnetic body.

Early results from trenching and drilling indicate that the higher-grade zones can be mapped at surface and in drill holes as well-defined sub-vertical zones (Figures 1 - 4). At least three of these zones can be seen at surface in the early exploration datasets and trend NW (Figures 1 and 2).

Cornerstone Vice President, Exploration Yvan Crepeau said:

"The drilling results from Bramaderos Main are already outlining higher-grade zones within this large porphyry system. Target areas are becoming clearer as we complete more drilling. We've only drilled 2 holes, but we can already see clear opportunity for a sizeable gold-copper system extending from surface outcrop to at least 300m below surface, and with opportunity to extend laterally by in excess of 500m."

Cornerstone believes Bramaderos Main demonstrates strong potential because:

  • Higher grade zones exist and have only been partially drill tested on one cross section to date with BMDD001
  • Multiple targets for high grade zones can be defined and will be drill tested. BMDD002 cross section shows the target zone has been drilled and assays are still to come for the bottom 600m of the drill hole
  • Highly rated targets are identified on the NE side of the Bramaderos Main prospect and probably trend NW (Figures 1 and 2)
  • The higher-grade domains occur within a much larger lower grade gold-copper porphyry system which correlates strongly with the geometry of a large magnetic body
  • Improved modelling of magnetics suggests a more sub-vertical system and with considerable vertical extent
  • The area below the main Bramaderos Hill, measuring 500m in diameter, is also now emerging as a significant target supported by several datasets
Figures 1 and 2 show the distribution of targets at Bramaderos Main that require drill testing. The higher-grade domains are shown in cross-section in Figures 3 and 4 below.

Key intersections from BMDD001 and the top 200m only of BMDD002 are shown below, together with a summary table of trench results that go some way to defining the multiple targets at surface of higher-grade gold and copper areas. Planning is underway for additional trenching in the NW part of Bramaderos Main, and for additional drilling.

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%)
BMDD001 3.45 669.5 666.0 0.26 1.06 0.10
incl. 3.45 175.4 171.95 0.52 1.79 0.16
incl. 78.8 175.4 96.6 0.61 2.08 0.18
and 301.05 425.75 124.7 0.41 1.70 0.16
incl. 301.05 364.2 63.15 0.50 2.09 0.19
and 458.7 535.0 76.3 0.19 0.78 0.11
and 547.4 608.7 61.3 0.14 0.85 0.10
BMDD002 8.44 68.65 60.21 0.18 0.82 0.10
  68.65 199.35* 130.7* 0.31 1.71 0.13
incl. 175.65 199.35* 23.7 0.35 1.85 0.17

*BMDD002 END OF HOLE depth is 835m. It has been sampled in its entirety, but assay results have only been returned to a depth of 199.35m to date. Complete assays are expected in September.

Trench ID Interval (m) Au (g/t) Cu (%)
BM01 105.7 0.32 0.09
incl. 59.6 0.43 0.11
BM02 140.6 0.57 0.15
incl. 68.2 0.8 0.18
BM07 215.7 0.5 0.09
incl. 121.8 0.61 0.09
BM08 105.6 0.47 0.14
BM14 615.14 0.52 0.11
incl. 122.6 0.55 0.17
and 17.2 0.71 0.23
and 97.0 0.61 0.16
and 134.9 0.5 0.07
and 179.7 0.6 0.09

Limon drilling: LMDD003 was abandoned at 127.33m due to poor ground conditions. Another drill hole will be drilled adjacent to the position of LMDD003. The top of the target zone is between 400m and 500m down hole (Figure 5).

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 5).

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
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 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,
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
19-25 - 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.

 

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