Cornerstone Capital Resources Inc

Published : November 28th, 2011

11-36 - Phase 2 Drilling and Exploration Program Started at Gama Prospect in Ecuador

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Re:   News - Monday, November 28, 2011
      11-36 - Phase 2 Drilling and Exploration Program Started at Gama
      Prospect in Ecuador
=======================================================================

Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) and Intrepid
Mines Limited ("Intrepid") (ASX-IAU) (TSX-IAU) today announced that a
Phase 2 Diamond drilling program and additional ground exploration
surveys have commenced at the Gama prospect in southern Ecuador. Two
600 metre long (minimum) Diamond drill holes will test copper-gold
porphyry targets at depth near previous intersections in Phase 1 holes
GAD 11-002 (101 metres at 0.41 g/t Au and 0.13% Cu, including 45 metres
grading 0.71 g/t Au and 0.18% Cu) and GAD 11-011 (26 metres grading
0.45 g/t Au). See Cornerstone news releases dated May 31 and August 11,
2011 for details. Additional soil sampling (2,500+ samples),
prospecting and a detailed ground magnetic survey (approximately 500
line km) will also be carried out to help define new drill targets.
Intrepid has approved a budget of US$1.8 million for these exploration
programs.

Phase 2 Drilling Program
Geological and geochemical data from Phase 1 drilling (holes GAD 11-001
to -011) have been reviewed and the mineralization model
re-interpreted. The drilling defined a large (minimum 3 km north-south)
high-sulphidation epithermal alteration system superimposed on deeper
porphyry style alteration and mineralization. The distribution of base
metal minerals and geochemical values, alteration patterns and
structures suggest that molybdenum, copper and some gold may have been
remobilized from a deeper mineralized tonalitic porphyry source. A map
showing the location of targets and drill holes with respect to
gold-in-soil anomalies and interpreted faults is provided here:
http://www.cornerstoneresources.com/i/pdf/NR11-36Figure1.pdf.

Hole GAD 11-012 is located approximately 500 metres northwest of hole
GAD 11-010 and 500 metres southwest of hole GAD 11-011, on the northern
edge of target B. Ground geophysical surveys at target B have outlined
a 2-km circular feature characterized by a magnetic low, interpreted to
represent magnetite destruction associated with hydrothermal
alteration, and a 2nd priority induced polarization (IP) chargeability
anomaly. Holes GAD 11-010 and -011 intersected remobilized molybdenite
along high-sulphidation epithermal feeder structures, as well as clasts
of stockwork-veined mineralized tonalite porphyry within brecciated
faults and structures. Sheeted porphyry "B" veins overprint the clasts
and matrix in the breccias with molybdenite in-situ in the "B" veins.
Hole GAD 11-012 is targeting the interpreted mineralized tonalitic
porphyry at depth.
 
Proposed hole GAD 11-013 will be located in the northern part of target
F, approximately 200 metres north of hole GAD 11-002 and close to the
intersection of a northwest striking and two east-west oriented
structures defined by ground magnetic data. Gold and copper
mineralization in hole -002 is associated with porphyry stockwork
transitional type "A-B" dominant veins. The high levels of remobilized
molybdenite and the presence of gold suggest a possible mineralized
tonalitic porphyry source at depth, which hole GAD 11-013 will be
targeting.

"We are pleased that Intrepid has approved a Phase 2 program at Gama",
said Brooke Macdonald, Cornerstone's President. "Information gathered
from Phase 1 drilling will allow us to test the new porphyry targets at
depth and to develop new drilling targets for both epithermal and
porphyry styles of mineralization at Gama. Environmental permits
required for drilling the Vetas Grandes and Ca�aribamba prospects on
the southern portion of the Shyri property are now expected to be
received near the end of the first half of 2012. We had expected to
receive these permits by the end of the first quarter, but community
consultations are taking longer than anticipated."

Gama Prospect
The Gama prospect is one of four recognized thus far on the Shyri
property, and comprises an extensive zone of high sulphidation (HS)
epithermal alteration measuring a minimum of 8.5 km by 3 km.  The
alteration is strongly zoned and centered over two high level,
porphyry-type intrusions at the 3,500 m to 3,800 m elevations. Gama is
located 15 km to the west of Iamgold's Quimsacocha HS epithermal gold
deposit.

Qualified Person
Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador SA and a
qualified person in accordance with National Instrument 43-101, is
responsible for supervising the Gama drilling program and has reviewed
and approved the technical information contained in this news release.

Shyri Option Agreement
Intrepid Mines Limited ("Intrepid") is earning a 60% interest in the
Shyri gold-silver-copper property under an option agreement signed with
Cornerstone in January 2011. Under the terms of the Agreement, Intrepid
has the ability to earn an initial 60% interest in the property by
spending $US 6.0 million dollars over 5 years. Intrepid may earn an
additional 20% in specific project areas up to 5,000 hectares each.
Upon designation of a Project Area, Intrepid will make a $US 750,000
private placement in Cornerstone. To earn the additional interest,
Intrepid will complete a bankable feasibility study or incur
expenditures of $US 20 million, whichever comes first, and make a cash
payment to Cornerstone of up to $US 5.0 million based on the gold
equivalent ounces in the mineral reserve. There is no limit to the
number of Project Areas Intrepid may designate within the property and
each 'stand-alone' Project Area requires the same earn-in requirements
(see news release dated Oct 29, 2009). Cornerstone is the project
operator, and manages the exploration programs in close consultation
and planning with Intrepid.

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 Ecuador, Chile, and Atlantic
Canada, 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. The company is well funded and 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.

For investor, corporate or media inquiries, please contact:

Investor Relations:
Email: communications@crigold.com
North America toll-free: 1 (877) 277-8377
Martti Kangas - Direct Line: 1 (647) 521-9261
Paul Benwell / Pat Kairns - Direct Line: 1 (514) 904-1333

Investors can access and join the following Cornerstone social media
channels:
Facebook (http://www.facebook.com/cornerstoneresourcesinc)
Twitter (http://twitter.com/Cornerstone_cgp)
YouTube channel (http://www.youtube.com/user/CornerstoneResource)
Flickr (http://www.flickr.com/photos/cornerstoneresources)

The link to a recent Corporate presentation is:
http://www.cornerstoneresources.com/i/pdf/Presentations_1111_CRICorporate.pdf

The link to a virtual tour of drilling at the Gama prospect, Shyri
concession in Ecuador is:
http://www.youtube.com/watch?v=Ne8XSfgLwIM

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

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.

=======================================================================
Copyright (c) 2011 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 Mon Nov 28, 2011 at 5:15:00AM Pacific Time
=======================================================================
.
Data and Statistics for these countries : Canada | Chile | Ecuador | All
Gold and Silver Prices for these countries : Canada | Chile | Ecuador | All

Cornerstone Capital Resources Inc

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CODE : CGP.V
ISIN : CA21922J2083
CUSIP : 21922J208
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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$ 1.3 billions as of today (US$ 1.0 billions, € 885.4 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.

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1/13/2009 New Mining Law Approved in Ecuador
11/21/2008Cornerstone Update
9/30/2008approves new constitution, clears way for new mining law
9/25/2008Cornerstone Update
8/11/2008Monthly Update - Monday, August 11, 2008
7/14/2008personnel change
6/19/2008Update on Little Deer
6/11/2008and Altius form alliance to explore for copper in the Labrad...
5/22/2008adds claims in the Bay St. George evaporite basin
5/20/2008Report on the drilling on the Little Deer Copper project
5/7/2008acquires new uranium property
4/29/2008acquires property with potash potential
4/25/2008Participates in Industry- Canadian Government Meeting With E...
4/23/2008 Evaluates Impact of Mining Mandate in Ecuador
4/23/2008 Update
2/12/2008 and Newmont Sign Definitive Agreement on Ecuador Strategic ...
2/4/2008John C. Crosbie resigns from Cornerstone's Board. Mr. Crosb...
1/10/2008Monthly review
12/6/2007 Monthly Review
11/8/2007 Monthly Review
10/22/2007and Newmont to Explore Southern Ecuador
10/17/2007La Plata Update
10/16/2007provides update on the La Plata VMS project, Ecuador
10/11/2007September Update
9/10/2007August Update
8/29/2007partners with Phelps Dodge Corporation of Canada, Limited to...
8/3/2007July Update
7/26/2007announces 4.7% Zinc intercept in drilling by Mountain Lake R...
7/10/2007 and Thundermin Commence Drill Program on the Little Deer Co...
6/11/2007 May update - the Drills start turning
6/7/2007(Shyri)Provides update on geophysics at GAMA, Shyri project, southe...
5/15/2007Signs JV Agreement and Commences Drill Program on Cornerston...
5/7/2007plans to drill 26,000 metres on five projects in Canada and ...
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