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Re: News - Tuesday, March 03, 2009
09-04 - Cornerstone updates mining law in Ecuador
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that the government of
Ecuador presented at a public meeting yesterday in Toronto, Canada the
conditions for immediate resumption of work on exploration and mining
projects in Ecuador. The government announcement by Dr. Jose Serrano
Delgado, sub-secretary of mines, also declared the provisions of the
Mining Mandate, the interim legislation which suspended exploration and
mining activities in April, 2008, were "completed" and henceforth
mineral concessions would be administered by the new mining law. Dr.
Serrano noted that concession holders will receive letters from the
Ministry formally allowing the resumption of work.
Cornerstone welcomes the prompt action by the government of Ecuador to
institute the new mining law and restore confidence in the country's
mining sector. The government is showing a willingness to co-operate
with the industry to ensure pre-Mining Mandate environmental and
community work will not be invalidated by the application of the new
mining law. They have also promised a stream-line process for
approvals under the new regulatory framework.
Cornerstone will continue to provide news as it becomes available.
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
Further information is available on the Cornerstone Web site at
www.cornerstoneresources.com; via e-mail at communications@crigold.com;
or toll free at 1-877-277-8377.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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Copyright (c) 2009 CORNERSTONE CAPITAL RESOURCES INC. (CGP) All rights
reserved. For more information visit our website at
http://www.cornerstoneresources.com/ or send
mailto:info@cornerstoneresources.com
Message sent on Tue Mar 3, 2009 at 12:45:00 PM Pacific Time
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : CGP.V |
ISIN : CA21922J2083 |
CUSIP : 21922J208 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cornerstone is a exploration company based in Canada. Cornerstone develops uranium in Canada, and holds various exploration projects in Canada, in Chile and in Ecuador. Its main asset in development is AILLIK in Canada and its main exploration properties are CHALEUR, ANAKTALIK, AUCOIN, LABRADOR TROUGH, VOISEY'S BAY PROPERTY, DEER LAKE PROJECT, DORCHESTER, GOSHEN, EL STRATO, LONG LAKE, NOTAKWANON LAKE, TRUE GRIT, CAPE RAY, COLCHESTER, CODROY PROJECT, LONG HARBOUR, OKAK, GARLAND, KAUK, KONRAD, NOEL PAUL'S BROOK, BOBBY'S POND, LITTLE DEER, CONEY ARM and INDIAN ARM in Canada, MACARA, BELLA MARIA, MONTERREY and SIERRAMIN in Ecuador and LA FORTUNA CHILE in Chile. Cornerstone is listed in Canada, in Germany and in United States of America. Its market capitalisation is 185.0 millions as of today (US$ 147.9 millions, € 139.4 millions). Its stock quote reached its lowest recent point on March 04, 2016 at 0.02, and its highest recent level on September 18, 2020 at 6.53. Cornerstone has 47 442 200 shares outstanding. |