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News

#March 26, 2020
20-08 - Bramaderos Au Cu Project, Ecuador -- Exploration breakthrough leads to identification of numerous higher grade gold-copper porphyry targets

  Temporary suspension of activities at Bramaderos due to Coronavirus Precautions

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 joint venture 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/NR20-08Figures.pdf.

HIGHLIGHTS:

  • Detailed technical review leads to a breakthrough in understanding the multiple gold-copper porphyry deposits identified within the Bramaderos concession
  • The findings stem from a review of drilling results, more detailed magnetic data, and 3-D modeling
  • The evidence suggests that the porphyry systems exhibit pipe-like geometry similar to many other porphyry deposits, such as Northparkes in Australia, and others globally
  • Exploration to date had been based on the belief that the porphyries at Bramaderos have broad, widely disseminated geometries, which are common elsewhere such as in Chile

FURTHER INFORMATION:
An in-depth review of all exploration data from Bramaderos has resulted in a breakthrough, that has led to the identification of numerous, compelling drill targets.

The review found that the higher-grade gold-copper porphyries exhibit pipe-like geometry, not broad, disseminated geometry as previously believed.

Some leading porphyries globally display this geometry, while many other porphyries, such as those in Chile and Asia, exhibit broader disseminated geometries (on which the original exploration model for Bramaderos was based).

These geometries for pipe-like or 'pencil porphyry' style porphyry gold-copper systems are not unusual and better-known examples include the Northparkes mine in NSW, the Skouries deposit in Greece, and the Boyongan deposit in the Philippines. These deposits are typically smaller individually but cluster as multiple deposits and deliver higher grades.

Cornerstone VP Exploration, Yvan Crepeau, said:

"Project operator Sunstone's technical review of results to date from Bramaderos has delivered some compelling new interpretations of the gold-copper porphyry systems within the project. Some have been real 'eye openers' such as the detailed ground magnetics and associated 3-D modeling. In isolation this is a standard exploration evolution, but combined with our drilling results to date, and surface sampling we have every reason to be optimistic about discovery. The interpretation of the geometry of these porphyry systems has been improved, and the potential for building significant tonnes, and at higher grades is greatly improved."

Details of the Review
The review considered each of the 6 gold-copper mineralized systems within the Bramaderos project (Figure 1), and the 2 currently defined epithermal gold targets.

All of the gold-copper porphyry systems are mineralized (Figure 2) and the review focused on targeting the higher-grade domains within these systems.

The review has identified that a later higher-grade event can now be defined and is related to pipe like intrusive bodies that are mappable based on the 3-D modeling of the more detailed ground magnetics (Figure 3).

These pipe like bodies cluster within each system, so for example at Brama 5 targets exist and correlate with higher grade where drilled (Figure 4).

At Playas the pipe like magnetic bodies correlate with areas of highest grade gold and copper in surface samples giving us confidence that drilling will extend that mineralization to depth. Playas has never been drilled.

Melonal, Porotillo and Sandia all present similar relationships.

At Porotillo a historical drill hole (CURI-05) intersected 26m at 1.1g/t gold and 0.2% copper demonstrating that significantly higher grades can be delivered from these systems.

Limon Assay Results
Assay results from drill hole LMDD006 at Limon have been received. The drill hole intersected an upper high sulphidation gold interval of 131.3m (true width "tw" 91m) at 0.18g/t gold from surface, with individual samples of up to 1.6m thick grading 1.2g/t. Copper grades were locally anomalous with up to 0.16% copper and 0.4g/t gold over 0.9m widths. This high sulphidation interval is a correlative of that intersected in LMDD004 which returned 59m (tw 41m) at 0.16% copper from 57.8m down hole, including 13.3m (tw 9m) at 0.43% copper and 0.11g/t gold from 57.8m (see Cornerstone news release dated October 15, 2019).

Deeper intervals in LMDD006 intersected intensely phyllic altered intrusive rocks and breccias and only locally gold and copper anomalous intervals. Together with the results from holes LMDD002 and LMDD004 we are now seeing vectors that suggest a target zone to the south.

Suspension of activities at Bramaderos and other Cornerstone Projects due to Coronavirus Precautions and Ecuador State of Emergency
Exploration activities at the Bramaderos Project and other Cornerstone Projects in Ecuador (including Cascabel, the Enami Strategic Exploration Alliance, and Caña Brava) have been suspended in line with the directives of the Ecuadorian government decree declaring a nationwide emergency to manage the risks associated with the corona (Convid-19) virus.

Desktop activities by project operator and JV partner Sunstone Metals are ongoing to interpret data to move target areas towards being drill ready when the suspensions are lifted.

About Bramaderos
Measuring 4,948 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 that crosses the property.

The Bramaderos concession is owned by La Plata Minerales S.A. ("PLAMIN"), which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone. Cornerstone's 12.5% interest is carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone's share of earnings or dividends from the Bramaderos project (see news release 20-01 dated January 7, 2020).

More information about the property can be found at www.cornerstoneresources.com.

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 the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 22.2% 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 at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 8.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadoran company owned by SolGold 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.

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 are estimated, but cannot be determined accurately at this time from the limited number of holes drilled.

 
#March 25, 2020
20-07 - Temporary suspension of activities at Cascabel and other Cornerstone Projects due to Coronavirus Precautions

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that exploration activities at the Cascabel Project and other Cornerstone Projects in Ecuador have been suspended in line with the directives of the Ecuadorian government decree declaring a nationwide emergency to manage the risks associated with the corona (Convid-19) virus.

With regard to Cascabel, joint venture partner and project operator SolGold has informed us that (1) the Alpala prefeasibility study is continuing externally, using the available information which has already been substantially gathered from site; and (2) ENSA (see "About Cornerstone", below) will continue to support its employees and contribute to the economy as far as possible for the immediate future, and will implement COVID-19 protocols and monitor the workforce in an effort to curtail the spread of the virus.

Exploration at the Miocene project in Chile has also been suspended by farm-in funding partner and operator Newcrest to safeguard the health and welfare of employees and contractors.

About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 22.2% 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 at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 8.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadoran company owned by SolGold 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.

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.

 
#March 11, 2020
20-06 - Cascabel (Alpala Deposit) Update

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide the following update on its Cascabel joint venture in Ecuador:

Alpala Pre-Feasibility and Proposed Feasibility Study Programs
Cascabel project operator and joint venture partner SolGold Plc has reported today it is pressing forward with work on the Pre-Feasibility Study (PFS) together with work streams to acquire further information for completion of the proposed Definitive Feasibility Study (DFS). Currently, subject to funding and land acquisition programs, these studies are scheduled for completion by Q3, 2020 for the PSF and by end Q1, 2021 for the DFS.

Work is currently focusing on eight main areas of investigation, being:

1. Completion and independent certification of mineral resource estimate (MRE #3) expected within 4 weeks;

2. Geotechnical studies (ongoing and progressing towards DFS Standards);

3. Surface logistic facilities including identifying and securing suitable tailings dam disposal sites for the life of mine for the Alpala Project;

4. Port access and infrastructure for future copper concentrate production streams;

5. Power supply and hydro co-generation options;

6. Revised metallurgy studies and gold and copper concentrate marketing studies with a focus on development funding advances;

7. Alpala financial model evaluation settings, including selection of future Ecuadorean sovereign royalty rates, and taxation rates to account for Ecuadorean policies including rebates for in-country capital reinvestment programs and selection of various mine development funding strategies; and 8. Social and Economic Impact Study finalization to provide a basis for Ecuadorean assessment of the project impact nationally.

About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.2% 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 at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 8.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean company owned by SolGold 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.

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.

 
#February 27, 2020
20-05 - High potential Porphyry Cu-Au-Mo Targets Discovered at Espejo and Rio Magdalena Projects within the ENAMI EP strategic exploration alliance in NW Ecuador

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce exploration results to date at its Espejo and Rio Magdalena projects located within the Cornerstone Ecuador S.A. ("CESA") - ENAMI EP strategic exploration alliance (the "ENAMI-CESA SEA") in Northern Ecuador.

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/NR20-05Figures.pdf.

HIGHLIGHTS:

Espejo:

  • Prospecting work and initial geological mapping completed
  • Heliborne magnetic and radiometric survey (1560 lineKm) defines anomalies related to magnetic bodies, altered zones and structures
  • 3410 samples collected to date
  • Spectrometry work (Terraspec) defines alteration patterns typical of porphyry systems
  • Three sizeable (more than 1 km²), high priority porphyry Cu-Mo (Au) targets defined
  • Epithermal style Au-Ag mineralization locally associated to porphyries
  • Several lower priority targets to be followed up
  • Future work to focus on target areas: Detailed ground surveys and 3D magnetic modeling (underway), ground geophysics being planned, drilling targets to be defined
  • Minimal work commitment over the first 4 years attained in less than 3 years

Rio Magdalena:

  • Prospecting work and initial geological mapping completed
  • Heliborne magnetic and radiometric survey (915 lineKm) defines anomalies related to magnetic bodies, structures, altered and mineralized zones
  • 3801 samples collected to date
  • Spectrometry work (Terraspec) defines alteration patterns typical of porphyry systems
  • Two high priority, sizeable (more than 1 km²), porphyry Cu-Au (Mo) targets outlined
  • Other lower priority targets to be followed up
  • Future work to focus on target areas: Detailed surveys ongoing, ground geophysics being planned, drilling targets to be defined
  • Minimal work commitment over the first 4 years attained in less than 3 years

In commenting on the results, Cornerstone's CEO, Brooke Macdonald, said:

"We and our partner, Ecuador's state mining company ENAMI, are pleased to announce the initial results on two of the 3 project blocks within the ENAMI-CESA SEA. The size and intensity of the anomalies and the outcropping mineralization are similar to those we identified at Cascabel back in 2012-2013 when Cascabel was at a similar stage of development. Cascabel totals around 5,000 hectares; the 3 concession blocks in the ENAMI-CESA SEA (Espejo, Rio Magdalena and Playa Rica) total around 42,000 hectares, and none of the targets on the 9 concessions within the 3 blocks have ever been drilled.

The Espejo, Rio Magdalena, and Playa Rica blocks were identified and ranked by Cornerstone in 2015-2016 as highly prospective after an exhaustive analysis of public and private information available at the time, reserved by CESA after the opening of the cadastral map and then transferred to ENAMI for inclusion in the SEA. We believe we have secured some of the best areas in this largely unexplored region of north west Ecuador.

Exploration targets are of high quality, showing strong coincidence between highly anomalous copper-gold-moly geochem results, porphyry-type magnetic response and prospective geological environment. Subject to permitting and securing a suitable funding partner, drilling of these targets is planned during the second half of 2020.

We would like to thank ENAMI's management and technical staff for their assistance and support during these past 3 years, and look forward to making one or more major discoveries with them on these projects."

FURTHER INFORMATION:
Cornerstone Ecuador SA ("CESA"), a wholly owned subsidiary of Cornerstone Capital Resources Inc. (TSXV: CGP) has outlined several high priority porphyry Cu-Mo (Au) and Cu-Au (Mo) exploration target areas on its Espejo and Rio Magdalena projects located, respectively, in Carchi and Imbabura provinces, in northern Ecuador. See location map on Figure 1. These properties are part of the Ecuadorian State mining company, ENAMI EP -- CESA Strategic Exploration Alliance (the "ENAMI-CESA SEA"). The properties, totaling 9 concessions in three blocks, Espejo, Playa Rica and Rio Magdalena, were selected by CESA through a thorough compilation of public and private data and a regional prospecting program during the period 2015 and 2016. Concessions were applied for by and granted to ENAMI on behalf of the SEA partners.

Following various community & social responsibility outreach processes carried out by CESA and ENAMI with regional and local authorities and communities, systematic exploration surveys were implemented starting in Q3 of 2017, including prospecting work, stream sediment sampling (1063 samples), rock sampling (1459 rock samples), ridge and spurs and grid soil sampling (4691 samples).

Spectrometry work was carried out on all rock and soil samples. Alteration patterns typical of porphyry style mineralization were used as vectors to mineralization.

A detailed heliborne magnetic and radiometric survey was carried out at Espejo (1560 lineKm) and Rio Magdalena (965 lineKm). Geophysical data was processed and anomalies defined. 3D magnetic modelling is underway to refine the geological and metallogenic models.

Full data integration, including geology, alteration, geochem results and geophysical data was then performed and anomalous areas defined for follow-up work.

Exploration follow-up results confirmed the presence of several, highly prospective, porphyry Cu-Mo (Au) style mineralization at Espejo and porphyry Cu-Au (Mo) style mineralization at Rio Magdalena. Mineralization is usually hosted by (but not restricted to) high density quartz veinlets stockworks within altered intrusive and sedimentary and/or volcanic host rocks. No drilling has ever been carried out on the two projects. Several lower priority targets still need to be followed up.

Espejo Project (19,462 Has property -- 4 concessions):
Anomaly ESP #1 is 1.9km by 1.3km in size, showing strong and coincident Cu-Mo-Au results and high Cu/Zn ratio with both rock and soil samples (Figure 2, Figure 3 and Plate 1). The anomaly is wide open to the NW. Geological mapping and soil sampling indicates that mineralization is preferentially associated to high density B, M and D-type quartz veinlets stockworks within dacitic porphyries and surrounding mylonite, andesitic volcanic and sedimentary host rocks. Higher density veinlets (>50 vn/m) are located in the core of the anomaly. This anomalous zone is located at the contact zone of NE oriented, high and low magnetic bodies.

Anomaly ESP #2 as explored to date has a minimal size of 2.0km by 1.0km (Figure 4, Figure 5 and Plate 2). It hosts partially coincident Cu-Mo-Au rock. Grid soil sampling has begun. Mineralization is associated to B and A quartz veinlets stockworks within porphyry intrusive and sedimentary country rocks. The anomaly is mostly located within a moderate magnetic surrounded to the N, W and S by magnetic bodies.

Anomaly ESP #3 as explored to date has a minimal size of 1.8km by 0.9km (Figure 6, Figure 7 and Plate 3), showing partially coincident Au-Cu-Mo results and moderate to high Cu/Zn ratio with both rock and soil samples. Mineralization found so far is associated to weakly developed quartz stockwork close to NNW structures, within andesitic porphyry. The anomaly is located within a moderate magnetic background surrounded by NE oriented magnetic bodies.

Rio Magdalena project (9.909 Has property -- 3 concessions):
Two high priority porphyry Cu-Au (Mo) targets are defined.

Anomaly RM #1 is 1.5 km by 0.8 Km in size and shows coincident Cu-Au (Mo) rock and soil anomaly and high Cu/Zn rock within a low frequency magnetic low (Figure 8, Figure 9 and Plate 4). The anomaly is still open to the north. Mineralization is associated to high density quartz-magnetite veinlets stockwork within diorite porphyries hosted (and partially covered) by altered/mineralized sedimentary rocks. A, B and M-type veinlets density is higher than 100 vn/m in the core of the anomaly.

Anomaly RM #2 has a 1.5km by 1.5km size and shows similarities with anomaly #1 but associated to a high amplitude magnetic high this time: coincident Cu-Au-Mo rock and soil anomaly and high Cu/Zn ratio (Figure 10, Figure 11 and Plate 5). The soil anomaly is still open in several directions. Mineralization is associated to magnetite veinlets stockworks within diorite porphyries hosted (and partially covered) by altered sedimentary country rocks.

About the ENAMI EP - Cornerstone Strategic Exploration Alliance (SEA)
On June 14, 2016, Cornerstone announced that its Ecuadorean subsidiary, Cornerstone Ecuador S.A. ("CESA"), had signed a Spanish language Agreement, or Acuerdo de Colaboración e Inversión para el Desarrollo Conjunto de Proyectos de Exploración Minera (the "Agreement") with Ecuador's State Mining Company, Empresa Nacional Minera Empresa Pública ("ENAMI EP"), replacing a letter of intent announced April 14, 2015, and creating a structure to jointly prospect and explore for mineral deposits in Ecuador (the "ENAMI-CESA Strategic Exploration Alliance" or "ENAMI-CESA SEA").

On March 6, 2017, Cornerstone announced that ENAMI EP had been granted a number of mineral concessions in Imbabura and Carchi provinces in the same area as the Cascabel (SolGold/Cornerstone) and Llurimagua (Codelco/Enami) concessions, for exploration by the ENAMI-CESA SEA. Nine concession titles totaling around 42,000 hectares were granted in 2017 by the Ministry of Mining (now the Ministry of Energy and Non-Renewable Natural Resources).

For more information about the ENAMI-CESA SEA, please see Cornerstone news release 16-12 dated June 14, 2016 http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=752183

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 Espejo and Rio Magdalena projects for Cornerstone and has reviewed and approved the information contained in this news release.

Sampling and assaying
CESA 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 ~1/25 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.

CESA'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 CESA's personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by CESA 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 a 22.2% interest in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador, composed of a 15% direct equity interest in Exploraciones Novomining S.A. ("ENSA), the Ecuadorian company that holds title to the Cascabel concession, financed by joint venture partner and project operator SolGold Plc through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of Cornerstone's 15% share of earnings or dividends from an operation at Cascabel, plus 8.5% of the shares of SolGold.

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.

 
#February 25, 2020
20-04 - Bramaderos Au Cu Project, Ecuador - Latest assays combined with new 3D magnetics point to clusters of 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 joint venture 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/NR20-04Figures.pdf.

HIGHLIGHTS

  • Diamond drilling results from the wider Bramaderos Hill area (which includes the Bramaderos Main prospect), extend gold and copper mineralization to over 1km in length (Figure 1)
  • This larger area has been re-named the 'Brama target' (Figure 2)
    • 181.7m (true width1 "tw" 127m) at 0.43g/t gold and 0.1% copper from 55.7m, including
      • 51.8m (tw 36m) at 0.47g/t gold and 0.11% copper from 55.7m, and33.4m (tw 23m) at 0.47g/t gold and 0.11% copper from 125.3m, and
      • 40.6m (tw 28m) at 0.49g/t gold and 0.11% copper from 170.6m,
  • Mineralization remains open to the north-west and south-east
  • These latest results, combined with an in-depth review of 3D magnetic data, indicate a cluster of higher-grade targets within a very large lower-grade gold-copper domain at Brama

Cornerstone VP Exploration, Yvan Crepeau, said:

"We have indicated a potential for a large gold-copper mineralized body at the Brama target. Within this body that is estimated to be 1,000m x 500m are several higher-grade zones. This is consistent with the new 3-D magnetic model and provides the basis for planning additional drilling to target >0.5g/t gold and >0.1% copper domains.

The development of this model at Brama will also apply at our 5 other large porphyry targets within the Bramaderos Project. We are seeing similar patterns at Limon, Playas, Melonal, Porotillo, and Sandia targets. We are confident that clusters of higher-grade zones are to be discovered at potentially all of these targets.

We have early indications of this at Porotillo through historic drill holes, that delivered 26m at 1.1g/t gold and 0.16% copper from 6m downhole in CURI-05."

FURTHER INFORMATION:
Assays from hole BMDD007 identify mineralized intervals that correlate with relatively more magnetic bodies. Detailed analysis of the 3-D magnetic model identifies clusters of these more magnetic bodies at Brama, and at the other 5 porphyry targets within the Bramaderos project (Figure 3).

Significant assays from BMDD007 include:

Hole ID

From

To

Interval

True Width

Au (g/t)

Cu (%)

Ag (g/t)

BMDD007

8

515.8

507.8

355.4

0.22

0.06

0.69

incl.

8

240

232

162.4

0.39

0.09

1.01

and

55.7

237.4

181.7

127.2

0.43

0.1

1.03

incl.

55.7

107.5

51.8

36.3

0.47

0.11

1.36

and

125.3

158.65

33.35

23.4

0.47

0.11

1.01

and

170.65

211.2

40.55

28.4

0.49

0.11

1.00

At the Limon target, drill hole LMDD006 has been completed at 1212.62m. Assay results are expected to be available during March.

About Bramaderos
Measuring 4,948 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 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone. Cornerstone's 12.5% interest is carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone's share of earnings or dividends from the Bramaderos project (see news release 20-01 dated January 7, 2020).

More information about the property can be found at www.cornerstoneresources.com.

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. 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 are estimated, but cannot be determined accurately at this time from the limited number of holes drilled.

 

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