Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

April 30, 2008 08:00 ET

Cornerstone and Coastport Announce Force Majeure in Ecuador

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - April 30, 2008) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN), in consultation with Coastport Capital Inc. has provided notice of force majeure on the Shyri Project. The Shyri property comprises 15 legally granted concessions in south-central Ecuador encompassing high potential gold prospects and environments. The event of force majeure results from the issuance of the mining mandate by the Constituent Assembly on April 18, 2008, which placed a moratorium on exploration and mineral development activities for up to 180 days.

The declaration of force majeure is a legal requirement under the terms of the Cornerstone - Coastport agreement in order to suspend exploration work and expenditures during the moratorium. The parties will continue to work together to understand the impact of the mining mandate on their plans for the Shyri Project. Cornerstone will continue to represent the interests of the parties in Ecuador and work with the government to develop a new framework for responsible mining.

In a related event, Cornerstone, through its subsidiary Cornerstone Ecuador, S.A. has served notice of force majeure on Sierramin Minera SA, the original owner of two of the Shyri concessions. The terms of that agreement provided for payment of advance royalties to Sierramin on a certain schedule following the completion of the property acquisition. Payments and other obligations will be suspended according to the duration of the event of force majeure.

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A notice of force majeure has also been issued to Sultana del Condor Minera SA by La Plata Minerales SA, a wholly-owned subsidiary of Cornerstone, for the La Plata joint venture in central Ecuador. Sultana is a privately owned Ecuadorian company and vendor of the property. A company related to Sultana was responsible for project management activities at La Plata which have also been suspended by the force majeure notice pending resolution of the provisions of the mining mandate.

About Cornerstone

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. The company operates exploration programs in Atlantic Canada and Ecuador.

On Behalf of the Board,

Colin B. McKenzie, 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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