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Re: Press Releases - Thursday, May 22, 2008
08-20 - Cornerstone adds claims in the Bay St. George evaporite
basin
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc. (TSXV-CGP)
(F-GWN) (B-GWN) (OTC-CTNFN) today announced further expansion of its
Codroy property in the Bay St. George basin of southwestern
Newfoundland. An additional 129 map staked claims were acquired by
staking, bringing the total land position to 1085 claims (271.25 square
km).
The new claims cover favourable stratigraphy within the Codroy Group in
an area where several significant evaporite prospects are located in
the southern portion of Cornerstone's property. The Ryan's Brook
prospect, located within 1.0 km of tidewater, saw two drillholes bored
in the 1950's with an intersection of 59.7 m of gypsum reported. The
Broom's Brook prospect comprises several gypsum showings occurring as
2.5 to 4.5 m thick beds exposed along Broom's Brook.
The Codroy property, underlain by Carboniferous age sedimentary rocks
of the Bay St. George Basin, covers the basal evaporite sequence of the
Codroy Group which hosts gypsum, anhydrite and potash prospects
throughout the Bay St. George Basin. Moreover, it is also
stratigraphically equivalent to the Windsor Group of the Moncton
Sub-basin of New Brunswick, which hosts the world-class potash deposits
near Sussex. Cornerstone is also exploring for copper, uranium and
potash in the same geological environment in New Brunswick.
Colin McKenzie, Cornerstone's President and CEO, stated "Cornerstone
has considerable expertise in exploring the mineral potential of
sedimentary basins through its experience in the search for
sediment-hosted copper deposits whose geological environments are often
also prospective for uranium, salt and potash. The staking announced
today enhances our opportunity to use that expertise in the search for
potash within the Maritime Sedimentary Basin."
This press release was prepared by Mike Basha, PEng., PGeo, Executive
Vice President for Cornerstone and a Qualified Person as per National
Instrument 43-101.
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:
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 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.
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) 2008 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 Thu May 22, 2008 at 1:30:00 PM Pacific Time
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