News Column

Cornerstone Capital Resources Inc.: Cascabel Project Update

Page 2 of 1

LogoTracker

MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 07/08/13 -- Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE: CGP) (FRANKFURT: GWN) (BERLIN: GWN) (OTCBB: CTNXF) today announces a further update on recent developments at the Cascabel Project in northern Ecuador. SolGold Plc holds a 30% interest and can earn up to 85% of Exploraciones Novomining S.A. ("ENSA"), the local subsidiary of Cornerstone which holds the Cascabel concession. Please see http://www.cornerstoneresources.com/i/pdf/NR13-12Figures.pdf.

Highlights:

-- Receipt of final surface channel sample assay results at Alpala Prospect.-- Ministry of Environment progressing through the final stages of the Environmental Permit or "EIA" (Estudio de Impacto Ambiental).-- Mobilization of drilling equipment and associated supplies to support the Phase 1 drill program well advanced.-- 3D modelling of 4 other targets at Cascabel in preparation.



Receipt of Final Surface Channel Sample Assay Results at Alpala Prospect

Additional assay results have been received from 67 individual channel samples that were collected from three local areas at higher elevation to the northeast, east and south-southeast of the mineralized outcrops at Alpala (Figure 1). This final batch of assay results from the recent phase of surface sampling at Alpala were from higher in the silica-clay lithocap where copper and gold grades were expected to be lower.

This most recent set of assay results further confirms the SolGold/Cornerstone model, that copper and gold grades increase with depth in the system. The previously sampled channels that lie at lower elevation and closer to the dissected Alpala drainage are significantly higher grade and are overlain by the lithocap. Planned drill holes 1 through to 4 will all be collared in the region of higher copper and gold grades that occur closer to the Alpala drainage.

Status of Progress to Environmental Report

The Ministry of Environment is progressing through the final stages of the Environmental Permit or "EIA" (Estudio de Impacto Ambiental). As previously reported, the Final Report for the EIA was submitted to the Ministry of Environment on May 31, 2013. Ministry of Environment personnel have informed the Company that there are some minor issues still to be addressed by the report. Cornerstone and SolGold have engaged their environmental consultants, Cardno Latino America, to assist with addressing these last remaining issues.

Mobilization and Preparation for the Phase 1 Drill Program at Cascabel

Mobilization is progressing for the Phase 1 drilling program, and it is expected that mobilization of the drilling and other associated equipment will be completed in mid-July.

3D Modeling on other Targets at Cascabel

As announced on May 1, 2013, 3D inversion modeling of helimagnetic data from the Alpala region identified a magnetic protuberance (or apophysis) that the Company believes may be associated with underlying porphyry copper-gold mineralization (Figure 2). The next step currently being undertaken by SolGold and Cornerstone is the visualization of 3D magnetic inversion data over two additional porphyry copper targets (Aguinaga and America-Tandayama) that lie in the central and northern parts of the concession, and which are also associated with coincident copper, gold and molybdenum anomalism in soil samples.

The relationship of the Cascabel System to the regional Toachi Fault (Figure 3) is considered very favorable for copper gold mineralized porphyry system emplacement, as this fault controls the location of the Junin copper porphyry deposit approximately 70 km south, southwest.

Assaying, Quality Assurance/Quality Control (QAQC)

Samples were delivered in sealed bags by Cornerstone employees to the ACME preparation laboratory in Cuenca, Ecuador. Rock samples are prepared (ACME code R200-250) and assayed by the ACME-Vancouver laboratory (www.acmelab.com) for gold (ACME code G601, F.A., 30 g) and multi-elements (ACME code 1E, 4 Acid digestion ICP-ES finish). All over limits results for precious and base metals were systematically re-assayed (ACME codes G6Gr and 7TD). Stream sediment samples are prepared (ACME code SS80) and assayed for gold (ACME code G601, F.A., 30 g) and multi-elements (ACME code 1EX, 4 acid digestion, ICP-MS finish).

ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically inserted every 25 samples as part of Cornerstone's QA/QC program.

Qualified Person:

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

About Cornerstone:

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada, Ecuador and Chile, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships. Commitments from JV partners constitute significant validation of the strength of Cornerstone's projects.

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

Investor Relations:

Email: ir@cornerstoneresources.ca

North America toll-free: 1 (877) 277-8377

The link to a recent Corporate presentation is: http://www.cornerstoneresources.com/i/pdf/Presentations_0912_CRICorporate.pdf

Investors can also access Cornerstone on Twitter

Cautionary Notice:

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



Contacts:
Cornerstone Capital Resources Inc.
Toll Free: 1-877-277-8377
communications@crigold.com
www.cornerstoneresources.com



Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters