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Re:   News - Wednesday, July 20, 2016
      16-18 - Cascabel Hole 17 upgraded assay results
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Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone"
or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces the
following project update for the Cascabel copper-gold porphyry joint
venture exploration project in northern Ecuador, in which the Company
has a 15% interest financed through to completion of a feasibility
study. SolGold Plc is funding 100% of the exploration at Cascabel and
is the operator of the project.

Further to the announcement of July 12, 2016, Cornerstone announces a
correction to the CSD-16-017 ("Hole 17") assay results that increases
the grade of the previously announced intersections, as well as the
length of the high grade zone.

HIGHLIGHTS:

- Upgrade due to correction of a reporting error on assay grades from
the independent laboratory.

- High grade intersection increased from 136m (true width 98m) @ 1.28%
copper and 2.20 g/t gold (3.24% copper equivalent -- "CuEq") to 150m
(true width 108m) @ 1.54% copper and 2.05 g/t gold (3.36% copper
equivalent).

- Overall hole intersection upgraded from 948m (true width 683m) @
0.54% copper and 0.53 g/t gold (1.01% CuEq) to 948m @ 0.60% copper and
0.53 g/t gold (1.07% CuEq).

FURTHER INFORMATION:

The corrected assays results presented in Table 1 below extend the high
grade zone below 982m to a depth of 996m, due to corrections to copper
grades within the interval from 950m to 1002m.
Cascabel Project - Drill Hole Intersections
Hole ID      Depth From   Depth To    Interval (m)    Cu %    Au g/t   Cu.Eq %    True width (m)
CSD-16-017       330        1278          948         0.60     0.53     1.07           683
incls            702        1264          562         0.79     0.75     1.46           405
incls            784        1032          248         1.16     1.36     2.37           179
incls            846         996          150         1.54     2.05     3.36            98
* Data Aggregation Method
- Intercepts reported with up to 10m internal dilution. (Excluding
bridging to a single sample)
- Intercepts selected using Cu equivalent cutoff grades of 0.10, 0.20,
0.30, 0.50, 0.70, 1.0 and 1.50
** Gold Conversion Factor of 0.89 calculated from copper price
US$2.20/lb and gold price US$1350/oz.
*** CuEq calculation assumes 100% recoveries of Cu and Au.
Table 1: Drilling results from Hole 17 (CSD-16-017) at Alpala.

Table 1: Corrected assay results from Hole 17 (CSD-16-017) at Alpala.

For comparison, the assay results originally reported for Hole 17 on
July 12, 2016 were as follows:

Cascabel Project - Drill Hole Intersections
Hole ID      Depth From   Depth To    Interval (m)    Cu %    Au g/t   Cu.Eq %    True width (m)
CSD-16-017       330        1278         948          0.54     0.53     1.01           683
incls            702        1264         562          0.70     0.75     1.36           405
incls            784        1032         248          0.94     1.36     2.16           179
incls            846         982         136          1.28     2.20     3.24            98
* Data Aggregation Method
- Intercepts reported with up to 10m internal dilution. (Excluding
bridging to a single sample)
- Intercepts selected using Cu equivalent cutoff grades of 0.10, 0.20,
0.30, 0.50, 0.70, 1.0 and 1.50
** Gold Conversion Factor of 0.89 calculated from copper price
US$2.20/lb and gold price US$1350/oz.
*** CuEq calculation assumes 100% recoveries of Cu and Au.
Table 1: Drilling results from Hole 17 (CSD-16-017) at Alpala.

The increase is as a result of the correction of a reporting error by
the laboratory and the re-assay of misreported multi-element results
corresponding to samples from 950m to 1002m depth.

The error was detected by SolGold geologists on site by comparison of
visual mineralization with reported assay grades, after the original
results were announced.

SolGold runs, as a matter of course, a process of duplicates, standards
and blanks in its sample assay protocol which will detect assay errors
but did not pick out reporting errors by the assay laboratory.

SolGold will adopt a further protocol of assay grade and visual
comparisons prior to all assay reporting to avoid this error occurring
again in the future.

About Cascabel:

SolGold Plc owns 85% of the equity of Exploraciones Novomining S.A.
("ENSA"), an Ecuadorean company that holds 100% of the Cascabel
concession in northern Ecuador. Cornerstone owns the remaining 15% of
ENSA, which also holds the rights to the La Encrucijada gold-silver
project. SolGold is funding 100% of the exploration at Cascabel and is
the operator of the project. Cornerstone's 15% interest is financed
through completion of a feasibility study.

Cascabel is located in northwestern Ecuador in an under-explored
northern section of the Andean Copper Belt, 60 km northeast of the
undeveloped inferred resource of 982 million tons at 0.89% Cu Llurimaga
(formerly Junin) copper project (0.4% Cu cut-off grade; Micon
International Co. Ltd. Technical Report for Ascendant Exploration SA,
August 20, 2004, pages 28 & 29). Mineralization identified at the
Llurimaga copper project is not necessarily indicative of the
mineralization on the Cascabel Property.

Qualified Person:

Yvan Crepeau, MBA, P.Geo., Cornerstone's Vice President, Exploration
and a qualified person in accordance with National Instrument 43-101,
is responsible for supervising the exploration program at the Cascabel
project for Cornerstone and has reviewed and approved the information
contained in this news release.

Logging, sampling and assaying

Holes referred to in this release were or are being drilled using HTW,
NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 cm
diameter). Geotechnical measurements such as core recovery, fracturing,
rock quality designations (RQD's), specific density and photographic
logging are performed systematically prior to assaying. The core is
logged, magnetic susceptibility measured and key alteration minerals
identified using an on-site portable spectrometer. Core is then sawed
in half at the ENSA core logging facility, and half of the core is
delivered by ENSA employees for preparation at LAC y Asociados ISO
9001-2008 certified sample preparation facility in Cuenca. Core samples
are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g
and pulverizing to 85% passing 75 microns (200 mesh) (MSA code
PRP-910). Prepared samples are then shipped to MS Analytical Services
(MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada where samples
are assayed for a multi-element suite (MSA code IMS-230, 0.2g split,
4-acid digestion, ICP-AES/MS finish). Over limit results for Cu (>1%)
are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid
digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire
Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au
(>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g.,
gravimetric finish).

Drill hole intercepts from the Cascabel Property are calculated using a
data aggregation method, defined by copper equivalent cut-off grades
and reported with up to 10m internal dilution, excluding bridging to a
single sample. Copper equivalent grades are calculated using a gold
conversion factor of 0.89, determined using copper price of
US$2.20/pound and gold price of US$1350/ounce. Copper equivalent
calculation assumes 100% recoveries of copper and gold.

All reported drill core intervals from the Cascabel Property are core
lengths, unless otherwise indicated. At present the true thicknesses of
all of the holes has not been calculated by SolGold. Low-grade
intersections, where applicable, are expressed as average true widths
(utilizing the "B-vein > 0.5%" shell orientations). High-grade
intersections are better constrained for holes 1, 5, 8 and 9, and these
intersections are also expressed as average true widths (utilizing the
"B-veins > 20%" shell orientations).

Quality assurance / Quality control (QA/QC)

The MSA Analytical Laboratory is a qualified assayer that performs and
makes available internal assaying controls. Duplicates, certified
blanks and standards are systematically used (1 control sample every
15-20 samples) as part of Cornerstone's QA/QC program. Rejects, a 100 g
pulp for each core sample and the remaining half-core are stored for
future use and controls.

Plans:

SolGold has announced it is planning a resource statement at Alpala,
the most advanced target at Cascabel, during 2016, in addition to drill
testing the other key targets at Agui�aga, Trivino, Alpala NW, Hematite
Hill, Alpala SE, Cristal, Tandayama America, Moran, and Chinambicito
within the Cascabel concession. By the end of 2016 SolGold has reported
it is planning further metallurgical testing, and completion of early
stage mine and plant design and a scoping study (which may or may not
be the approximate equivalent of a preliminary economic assessment as
defined under National Instrument 43-101) for an economic development
at Cascabel. SolGold has reported it is investigating both high tonnage
/ low grade open cut and high grade / low tonnage underground
developments as a block caving operation.
About Cornerstone:

Cornerstone Capital Resources Inc. is a well funded mineral exploration
company with a diversified portfolio of projects in Ecuador and Chile,
and a proven 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
partnerships.

Further information is available on Cornerstone's website:
www.cornerstoneresources.com and on Twitter. For investor, corporate or
media inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca; Tel. (613) 421-6923

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 www.sedar.com. 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 and 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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