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Re: News - Thursday, November 05, 2009
09-24 - Ecuador Mining Regulations signed into law
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) confirms that President Correa
signed the Mining Regulations into law yesterday in a ceremony in
Zaruma, El Oro province. This is the final regulatory hurdle to the
re-initiation of exploration and mining development in the country.
The Ministry of Non-Renewable Natural Resources (formerly Ministry of
Mines and Petroleum) is expected to prioritize final approvals for the
major development projects such as Fruta del Norte, Mirador and
Quimsacocha, following which projects such as Cornerstone's should
receive final approvals.
The company received formal notification on October 19th from the
Ministry of Environment that its Preliminary Environmental Impact
Assessments were approved for 13 of its 16 concessions. The remaining 3
are still under review. Acceptance of the related Environmental
Management Plans, which is the final environmental approval issued by
the Ministry of Environment, is expected shortly. Cornerstone is also
in the process of acquiring a water usage permit from SENAGUA, the new
water regulatory agency, which is required before drilling can proceed
on the Shyri property. Cornerstone's water permit application is
approximately half way through a process which typically takes 60 days.
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 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
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) 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 Thu Nov 5, 2009 at 5:15:00 AM Pacific Time
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Cornerstone Capital Resources Inc
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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 CA$ 1.2 billions as of today (US$ 934.1 millions, € 818.3 millions). Its stock quote reached its lowest recent point on March 04, 2016 at CA$ 0.02, and its highest recent level on September 18, 2020 at CA$ 6.53. Cornerstone has 299 560 000 shares outstanding. |