Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

April 29, 2010 08:00 ET

Cornerstone and Thundermin Intersect 4.6% Cu Over 5.9 Metres, Including 14.5% Copper Over 1.5 Metres, Within 19.6 Metres of 2.1% Copper in Deep Hole at Little Deer

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - April 29, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) and 50% joint venture partner Thundermin Resources Inc. ("Thundermin") (TSX:THR) announce that they have intersected 2.1% Cu over a core length of 19.6 m, including intervals of 4.6% Cu over 5.9 m, and 1.8% Cu over 6.7 m, approximately 942 m below surface on the Little Deer Copper Deposit ("Deposit") located approximately 10 km north of Springdale in north central Newfoundland (see Table 1 and Figure 1, link at the end of this release). The location and width of this intersection, which is the deepest significant copper mineralization intersected to date in the Deposit, suggest that there is ample potential to add additional tonnes at depth at Little Deer. This potential increase in tonnes, however, is conceptual in nature and additional drilling will be required in this area of the Deposit to determine the true tonnage potential.

Table 1: Little Deer Drill Results

Hole No. East North Dip Az From To Interval Cu
(m) (m) (Degrees) (Degrees) (m) (m) (m)(1) %
LD-10-32A 13,140 4,633 -75.3 326.3 740.0 741.8 1.8 8.8
and 1,002.9 1,022.5 19.6 2.1
incl 1,002.9 1,008.8 5.9 4.6
incl 1,006.3 1,007.8 1.5 14.5
incl 1,015.8 1,022.5 6.7 1.8

LD-10-32 13,140 4,633 -75.3 326.3 776.2 784.6 8.4 0.8
and 795.1 796.2 1.1 1.2
And 1073.3 1075.3 2.0 1.0

LD-10-33 13,620 4,548 -71.6 334.6 496.1 497.2 1.1+ 4.5
and 545.0 550.6 5.6 1.4


(1) Reported intervals are core lengths. The true thicknesses of the
various copper intersections are highly variable due to the stringer
nature of the mineralization. Management, however, believes that the
true thicknesses of the drill intercepts average approximately
70% - 75% of core lengths.
32A - Wedge cut from original hole 32.
+ - Interval also contains 2.7% zinc.

3-D modeling by Crone Geophysics & Exploration Ltd. of borehole Pulse EM geophysical surveys that were conducted in numerous drill holes in the Deposit suggested the presence of substantial conductive plates lying east of hole LD-08-16A, below holes LD-09-23 and LD-09-21, and also below holes LD-09-25A and LD-09-20 farther to the east (see Figure 1).

Hole LD-10-32 was planned to intersect the western conductive plate midway between holes LD-08-16A and LD-08-09B (on section 13,150 E) approximately 900 m below surface. This hole intersected an upper, copper bearing chlorite alteration zone as well as an extensive, locally copper bearing, chlorite alteration zone that extends from approximately 992 m to 1,142 m below surface. Unfortunately, the hole steepened significantly and was abandoned due to drilling difficulties. The best copper intervals in this hole were 0.8% Cu over a core length of 8.4 m, 1.2% Cu over 1.1 m and 1.0% Cu over 2.0 m. The presence of the extensive chlorite alteration zone containing copper mineralization suggests that the main zone copper mineralization persists to greater depths in this area of the Deposit but was not completely tested by the drill hole.

Hole LD-10-32A, a wedge cut from hole LD-10-32, intersected high grade copper mineralization within strongly chloritized basalts at approximately 682 m and 942 m below surface (see Table 1). The upper interval assays 8.8% Cu over a core length of 1.8 m and appears to correlate with the 0.8% Cu over 8.4 m intersected in hole LD-10-32. The main copper bearing interval, which appears to correlate with the main zone mineralization in nearby holes, assays 2.1% Cu over 19.6 m, including 4.6% Cu over 5.9 m and 1.8% Cu over 6.7 m. This interval also contains two narrow barren dykes similar to those seen elsewhere at Little Deer within the main copper zone mineralization. Mineralized samples from this hole, along with samples from holes LD-10-31, LD-10-32, LD-10-33, LD-07-03A and LD-08-16B, are being sent to SGS Lakefield Research Limited ("SGS") for metallurgical testing.

Hole LD-10-33 intersected 1.4% Cu over a core length of 5.6 m within the main zone mineralization and 4.5% Cu and 2.7% Zn over 1.1 m higher in the hole. Similar zinc rich zones have been intersected elsewhere within the Deposit but their overall significance is not clearly understood at the present time.

The current drilling is part of an on-going $1,500,000 diamond drilling program comprising approximately 11,000 m of drilling employing two drills that commenced in early February 2010 (see Cornerstone and Thundermin news releases dated April 13, 2010 for assay results for the first six holes of this program). Approximately 5,280 m of drilling have been completed to date by deepening three holes, wedging of three holes and drilling three new holes from surface. The primary purpose of the current drill program is to increase the NI43-101 compliant mineral resource outlined to date in the Deposit (see news release dated July 7, 2009) to five to six million tonnes and to obtain fresh core samples for metallurgical testing at SGS. The locations of the holes that have been, or are planned to be, drilled during the current program are shown on Figure 1: ( The potential increase of the current mineral resource is conceptual in nature and it is uncertain whether further exploration will result in an expansion of this mineral resource.

Little Deer Joint Venture

Thundermin, the operator, and Cornerstone have the option, on a 50/50 basis to earn a 100% interest in the Little Deer copper deposit and adjacent property from Weyburn Investments Ltd. Thundermin, under its joint venture agreement with Cornerstone, has the right to increase its interest in the Little Deer property to 75% by completing a feasibility study and by arranging 100% of the necessary bank financing required to place the property into commercial production. Details on the Deposit and the terms of the agreement with Weyburn can be found in numerous news releases and on Thundermin's and Cornerstone's respective websites and on SEDAR.

Qualified Person

Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the Q.P. responsible for supervising the drilling program on the property for the purposes of NI 43-101. Mr. Hussey has also reviewed the contents of this news release for accuracy. All holes drilled by Thundermin and Cornerstone are NQ in size. Specific gravity measurements, rock quality designations and photographic logging of significant mineralized intersections are performed systematically prior to assaying. The core is logged and the mineralized sections, where appropriate, are sawn in half at a core logging facility in Springdale. Half of the core is submitted for analyses to Eastern Analytical Limited, an independent and qualified assayer located in Springdale, and the remaining half of the core is kept for future reference. Blanks, duplicates and standards are routinely used as part of the assay procedures.

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 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.

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

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 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,

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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