The West Safford property is 11 km west from the producing Dos Pobres mine. It consists of approximately 2,860 acres of claims, and a 640-acre Arizona State Mineral Exploration lease. The target at West Safford is a large tonnage "Resolution-type" porphyry copper target, buried beneath younger alluvium, in the Safford Mining District.
The Teague Springs property consists of 1,920 acres of claims located further west of Dos Pobres. The target area is a large tonnage, buried Laramide porphyry copper-molybdenum-silver-gold system associated with a large, untested IP anomaly and a Mo-Cu-Zn biogeochemical anomaly.
Courtney Shearer, interim-CEO remarked, "We are very pleased to have completed satisfactory due diligence and we look forward to finalizing and signing the Share Exchange Agreement with the Vendor and proceeding to close the transaction. CO USA now has the revised agreements with the surface landholders that provide long term access to explore the claims at Lone Mountain and the ability to buy the surface rights to the lands in the future. With the exploration permits from New Mexico regulators, CO USA has the ability to drill up to 528 holes, which will fully explore the potential of this project. Cornerstone will be evaluating and prioritizing our exploration strategy on all the projects as soon as we can and look to move forward on work at Lone Mountain, NM when the Share Exchange Agreement is finalized and the transaction closes."
About Cornerstone Metals Inc.
Cornerstone currently owns 100% (subject to 1.5% NSR) of the 12,066 hectare Spences Bridge Gold Project near Merritt, BC. The Spences Bridge project is an exploration project focused on gold in the Spences Bridge Gold Belt.
Cornerstone's objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company's management and board core competence is in exploration, permitting, development, construction, and operation of mining projects.
ON BEHALF OF CORNERSTONE METALS INC.
Courtney Shearer, Interim CEO & President
Paul S. Cowley, P.Geo., director of the Company is the Qualified Person as defined in NI43-101, who has reviewed and approved the technical content of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cornerstone Metals Inc.
Interim CEO & President
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