Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

July 21, 2011 08:00 ET

Cornerstone Capital Resources Inc.-Environmental License Granted for Cascabel Project in Ecuador

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - July 21, 2011) - Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) today announced that the Ministry of Environment (ME) of Ecuador has granted the environmental license for Cornerstone's Cascabel gold-copper project located in northern Ecuador (see news releases of February 17 and March 29, 2011). The license is valid for the 4-year initial exploration phase of the 5,000 hectare concession. A prospecting program has begun, where stream sediment geochemical anomalies are being followed up to locate and characterize the source of the anomalies and to define the geological environment. Results of this first-step reconnaissance work will be announced in the Fall.

Cascabel project

The Cascabel project is located in the Imbabura province in northern Ecuador, approximately 120 km north of Quito. The property comprises a single 50 km2 concession which is 100% owned by Cornerstone. The area is underlain by Cretaceous – Tertiary volcanic and sedimentary rocks which are intruded by a granodioritic stock. A well-defined multi-element (gold-copper-lead-zinc) anomaly measuring approximately 10 km2 has been identified with associated large areas of silica-sericite-pyrite-clay alteration. Several secondary stream sediment anomalies have also been identified within the property limits. Historic stream sediment samples have returned assay results ranging from trace up to 3.36 g/t Au and 456 ppm Cu. Rock grab samples of floats and outcrops collected by previous owners have returned assay results ranging from trace up to 1.03 g/t Au, 4.4 g/t Ag, 1.90% Cu and 0.71% Zn. Coarse free gold occurs in most streams throughout the property. Recent rock sampling (14 samples) by a previous owner returned anomalous gold (5 samples > 0.1 g/t Au, up to 1.8 g/t Au), silver (2 samples > 15 g/t Ag, up to 80.7 g/t Ag), copper (12 samples > 130 ppm Cu, up to 0.21% Cu) and zinc (8 samples > 130 ppm Zn, up to 1.0% Zn). Cornerstone considers the area to be prospective for both porphyry and skarn-style mineralization.

A map showing the location of the Cascabel project is provided here:

Qualified Person

Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador S.A. 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 Ecuador, Chile, and Atlantic Canada, 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. The company is well funded and commitments from JV partners constitute significant validation of the strength of Cornerstone's projects. Further information is available on Cornerstone's website:

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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,

Brooke Macdonald, President

Further information is available on the Cornerstone Web site at; via e-mail at; or toll free at 1-877-277-8377.

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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