Cornerstone Capital Resources Inc.

Cornerstone Capital Resources Inc.

July 13, 2010 08:00 ET

Cornerstone and Thundermin Extend Option on the Little Deer Copper Deposit, Newfoundland

MOUNT PEARL, NEWFOUNDLAND--(Marketwire - July 13, 2010) - Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) and 50% joint venture partner Thundermin Resources Inc. ("Thundermin") (THR:TSX) announce that they have extended the option with Weyburn Investments Limited ("Weyburn") to earn a 100% interest in the Little Deer copper deposit (the "Deposit") located approximately 10 km north of Springdale in north-central Newfoundland.

Under the terms of the agreement with Weyburn, in order to extend the option beyond the third anniversary of the agreement, Cornerstone and Thundermin agreed to pay Weyburn a total of $200,000 in cash and/or shares by July 12, 2010. Thundermin elected to issue 840,336 shares, at a price of $0.119 per share, and Cornerstone elected to issue 684,932 shares at a price of $0.146 per share. These payments will maintain the option on the Deposit in good standing until July 12, 2011. Further details on the terms of the agreement with Weyburn can be found in a news release dated May 1, 2007 and on Cornerstone's and Thundermin's respective websites and on SEDAR.

Diamond drilling programs undertaken since July 2007 have greatly expanded the known copper mineralization within the Deposit. On July 7, 2009, Cornerstone and Thundermin reported a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the Deposit comprising Indicated Resources of 1,087,000 tonnes at an average grade of 2.9% Cu and Inferred Resources of 1,950,000 tonnes at an average grade of 2.3% Cu. The mineral resource estimate was prepared by Mr. Reno Pressacco, M.Sc.(A), P.Geo., for Micon International Limited ("Micon") of Toronto, Ontario, an independent Qualified Person ("QP") in accordance with NI 43-101. An updated NI 43-101 mineral resource estimate based on drill hole results subsequent to the July, 2009 estimate is anticipated later this summer once final results from the current 11,000 m drill program are in hand.

Thundermin and Cornerstone would like to acknowledge the financial support received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in carrying out a portion of their work on the Little Deer property.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland & 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.

Cautionary Notice:

Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. 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.

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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