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Re: News - Wednesday, November 14, 2012
12-24 - Cornerstone Recovers Rights to Ca�a Brava Gold-Silver
Property, Ecuador
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) today announced
that it has received formal notification from the Ecuadorian Ministry
of Non-Renewable Natural Resources (MNRNR) that its mineral rights to
the Ca�a Brava concession have been restored, following the successful
appeal by Cornerstone of a November 25, 2008 administrative ruling that
sought to terminate Cornerstone's rights to the concession. In November
2008, Ca�a Brava was revoked as a result of having been mistakenly
placed on a list of concessions whose owners allegedly had not filed
their preliminary environmental impact statements (EIS) at the time the
2008 Mining Mandate (moratorium) was declared. Cornerstone appealed the
revocation, and during the appeal process its preliminary EIS was
approved by the Ministry of Environment in 2009. As a result of the
current MNRNR ruling, Cornerstone will now be able to begin the process
of obtaining and registering a new 25 year mining title under the 2009
Mining Law, securing the required terms of reference for an
environmental license, and recommencing exploration activities at Ca�a
Brava.
Ca�a Brava Property
The Ca�a Brava property was optioned from a local prospector in 2007.
It is located in south-central Ecuador in Loja province and covers an
area of 11.5 km2. Ca�a Brava hosts two large epithermal high
sulphidation (HS) gold-silver systems (2.5 by 2.0 km and 1.75 by 1.0
km) sitting above a possible gold-copper porphyry system at depth.
Prospecting work carried out by Cornerstone prior to the 2008 Mining
Mandate confirmed the potential of the property to host significant
epithermal HS style of mineralization. An update of the exploration
programs and results to date on the Ca�a Brava and Cornerstone's
100%-owned adjacent Monterrey property will be released shortly.
Maps showing the location of the Ca�a Brava Property can be viewed at
http://cornerstoneresources.com/i/pdf/NR12-24LocMap.pdf.
Qualified Person
Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador S.A. and a
qualified person in accordance with National Instrument 43-101, is
responsible for supervising the exploration program and has reviewed
and approved the technical information contained in this news release.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company
based in Mount Pearl, Newfoundland and Labrador, Canada, with a
diversified portfolio of projects in Canada, Ecuador and Chile, 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. Commitments from
JV partners constitute significant validation of the strength of
Cornerstone's projects.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com or for investor, corporate or media
inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca
North America toll-free: 1 (877) 277-8377
The link to a recent Corporate presentation is:
http://www.cornerstoneresources.com/i/pdf/Presentations_0912_CRICorporate.pdf
Investors can also access Cornerstone on Twitter
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
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.
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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Copyright (c) 2012 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 Wed Nov 14, 2012 at 5:15:00 AM Pacific Time
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cornerstone est une société d’exploration minière basée au Canada. Cornerstone est en développement de projets d'uranium au Canada, et détient divers projets d'exploration au Canada, au Chili et en Equateur. Son principal projet en développement est AILLIK au Canada et ses principaux projets en exploration sont 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 et INDIAN ARM au Canada, MACARA, BELLA MARIA, MONTERREY et SIERRAMIN en Equateur et LA FORTUNA CHILE au Chili. Cornerstone est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 185,0 millions (147,9 millions US$, 139,4 millions €). La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 , et son plus haut niveau récent le 18 septembre 2020 à 6,53 . Cornerstone possède 47 442 200 actions en circulation. |