Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

August 12, 2009 12:03 ET

Cornerstone Completes Sale of La Plata Interest

MOUNT PEARL, NEWFOUNDLAND AND LABRADOR--(Marketwire - Aug. 12, 2009) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) announces that the company has closed the sale of its interests in the La Plata property to Sultana Del Condor Minera, SA (Sultana), a privately held Ecuadorian mining company, for $US 500,000. On April 28, 2009, the Company announced it had signed a non-binding letter of intent to sell the property for $US 675,000 payable in three installments over 18 months, however, during subsequent negotiations both parties agreed to the new purchase price, to be paid on closing, which also included amounts owed to Sultana for expenditures and fees incurred to maintain the La Plata property.

Cornerstone's subsidiary, La Plata Minerales, acquired an option to earn a 70% working interest in the La Plata property from Sultana in 2005 pursuant to a schedule of exploration expenditures and advance royalty payments. While La Plata Minerales maintained its rights with respect to the property up to December, 2007, further exploration work on the project has been under suspension following the issuance of the Mining Mandate in April, 2008.

Cornerstone divested of the non-core La Plata property in order to focus efforts in Ecuador on its wholly-owned gold properties, including Shyri, Bella Maria and Monterrey.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland & Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador 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.

Cautionary Notice:

Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. 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.

On Behalf of the Board,

Colin B. McKenzie, President & 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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