Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

April 21, 2008 07:00 ET

Cornerstone Evaluates Impact of Mining Mandate in Ecuador

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - April 21, 2008) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) is reviewing the mining mandate adopted Friday by the Constitutional Assembly in Ecuador to determine the mandate's impacts on the company's projects in the country. Cornerstone operates in Ecuador through two wholly owned subsidiaries: La Plata Minerales, S.A., which holds mineral rights covering the La Plata volcanogenic massive sulphide prospect, and Cornerstone Ecuador, S.A. ("CESA"), which holds Cornerstone's other concessions in the country.

Cornerstone understands that the mining mandate orders the expiration of concessions that meet certain criteria, limits the number of concessions that may be held by individual persons and companies, and orders the suspension of all exploration and mineral development work until a new legal framework for mining is approved. The mandate orders further that the new legal framework is to be put in place within 180 days from the mandate's publication. The precise effects of these measures on Cornerstone's projects have yet to be determined.

The suspension of activities means that Cornerstone will, unfortunately, have to downsize its staff and undertake other measures to minimize expenditures in Ecuador until such time as the status of its concessions is clarified and the proposed new mining law is enacted and put into effect. In the meantime, Cornerstone will be working with its joint venture partners to ensure, as far as possible, that key properties are preserved and that the integrity of projects is maintained.

We at Cornerstone, with other exploration and mining companies in Ecuador, are registering our concerns with the Government of Ecuador about the potential effects 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.

In Canada, Cornerstone is in discussion with potential joint venture partners on several projects. From its base in Ecuador, the company is evaluating exploration opportunities in other Latin American countries.

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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