Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

April 23, 2007 16:00 ET

Cornerstone Commences New Gold Project on Burin Peninsula and Announces That Cornerstone Shareholders Approve Shareholder Rights Plan

MOUNT PEARL, NEWFOUNDLAND--(CCNMatthews - April 23, 2007) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) announced that its Shareholders approved the adoption of a Shareholder Rights Plan ("Rights Plan" or "Plan") at the company's Annual General and Special Meeting today. The Plan, which had been put into effect by the Board of Directors as of November 30, 2006, required ratification by the shareholders within six months. The Plan was adopted to ensure the fair treatment of shareholders in connection with any potential take-over offer for the company, and to provide the Board of Directors and shareholders with adequate time to fully consider any unsolicited take-over bid.

The Shareholders Rights Plan is not in response to any proposal to acquire control of the Company and is not intended to prevent take-over bids. The Rights issued under the plan become exercisable only if a person, or a group of persons acting in concert, acquires 15% of the outstanding common shares of the Company. The Rights are not triggered by a "permitted bid", which is one made to all common shareholders for any and all of their common shares by way of a takeover bid circular that remains open for not less than 60 days and pursuant to which more than 50% of the common shares held by independent shareholders are deposited and not withdrawn. Each Right, upon exercise, would permit the purchase of shares in the Company at a substantial discount to market price, as defined in the Plan.

A copy of the Rights Plan is available by contacting the Company by telephone at (709) 745-8377 or (877) 277-8377, by facsimile at (709) 747-1183, or by mail to Cornerstone Capital Resources Inc., 109 Clyde Avenue, Mount Pearl, NL, A1N 4R9. A copy is also available on SEDAR at

The Company today issued 2,150,000 stock options to insiders and consultants to purchase shares in Cornerstone. The pricing and expiry of the options are as per company policy and as permitted by the TSX Venture Exchange. The options are priced at today's closing price of the company's shares trading on the TSXV plus $0.01.

Burin Gold Project

In other news, the Company announces the acquisition of a new gold project on the Island of Newfoundland. The Burin Gold Project is located on the Burin Peninsula of south-eastern Newfoundland and is comprised of 865 mineral claims covering 216.25 km2. The property was acquired through an option agreement with a local prospector and by direct staking by Cornerstone.

The Burin Gold Property contains several gold prospects and showings. The primary target is epithermal-style gold mineralization similar to the now exhausted 1.6 million ounce Hope Brook Gold Deposit. Limited historical work on the Burin property identified three large gold bearing alteration zones, each of which covers an area greater than 10 km2, within a geological terrane similar to that which hosts the Hope Brook deposit. See

The option agreement gives Cornerstone the right to earn a 100% interest in the optioned claims, subject to a 2% NSR, half of which Cornerstone may purchase for CDN$1,000,000. The agreement requires Cornerstone to maintain the claims in good standing, to make cash payments totaling CDN$120,000 and issue 120,000 common shares over four years. First year payment commitments, upon signing the agreement, are CDN$15,000 in cash and 15,000 shares.

The Burin property is a significant addition to Cornerstone's portfolio of gold and base metal properties throughout Newfoundland and Labrador, New Brunswick and Ecuador.

This Qualified Person responsible for the Burin Gold Project information in this press release is Bruce Mitton, PGeo, Exploration Manager, Canada for Cornerstone and a Qualified Person as per National Instrument 43-101.

On Behalf of the Board,

Glen H. McKay, President & CEO

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

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