Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

October 17, 2007 16:37 ET

Cornerstone Private Placement Completed

MOUNT PEARL, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 17, 2007) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) today announced completion of the private placement announced September 17, 2007. The company is pleased to announce that the offering was fully subscribed for total proceeds of $3.025 million.

The financing consisted of a non-brokered private placement of 5,500,000 units. Each unit was priced at $0.55 per unit and consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.80 for two years following the closing.

A finder's fee of 6 1/2% was payable in units to dealers who assisted in the placement.

All shares issued pursuant to the placement will bear a legend restricting transfer until February 18, 2008.

Participants in the private placement include Global NR Holding SA, a Luxembourg-based holding company which is controlled by the Lundin family and Exploration Capital Partners, which is controlled by the Rule Family Trust. Other investors include Doug Casey personally and another senior industry letter writer. Cornerstone wishes to welcome the new shareholders and to express appreciation to all shareholders for their continued trust and confidence.

The proceeds of the issuance will be used to advance existing properties, to generate and acquire new exploration properties and to provide working capital to the Corporation.

Cornerstone Capital Resources Inc. is a mineral exploration company with 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. Cornerstone's current and past joint venture partners include Agnico Eagle, Celtic, Cash Minerals, Candente, Coastport, Cogitore, Falconbridge, Inmet, Kermode, Mountain Lake, Moydow, Noranda, Phelps Dodge, and Thundermin.

On Behalf of the Board,

Glen H. McKay, President & CEO

The common shares of the Company are currently listed on the TSXV in Canada (symbol CGP), the OTC in the USA (symbol CTNXF) and the Frankfurt Stock Exchange (symbol GWN)

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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