Cornerstone Capital Resources Inc

Published : February 23rd, 2012

12-05 - Cornerstone and Thundermin Intersect High Grade Copper Mineralization at the Past-Producing

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Keywords :   Canada | Chile | Climatic | Copper | Diamond | Ecuador | Rare Earth |


=======================================================================
Re:   News - Thursday, February 23, 2012
      12-05 - Cornerstone and Thundermin Intersect High Grade Copper
      Mineralization at the Past-Producing Whalesback Copper Mine
=======================================================================

Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) and 50% joint
venture partner Thundermin Resources Inc. ("Thundermin") (THR:TSX)
announce that they have intersected 2.8% Cu over a core length of 18.2
m, including 5.2% Cu over 4.2 m and 3.4% Cu over 3.5 m, in an on-going
initial Diamond drilling program on their 100% owned, past-producing
Whalesback Copper Mine ("Mine"). The Mine, which was in production from
1965 - 1972, is located approximately 10 km north of Springdale in
north-central Newfoundland and approximately 800 m north of the 100%
owned Little Deer Copper Deposit ("Deposit") (see Figure 1 -
http://www.cornerstoneresources.com/i/pdf/properties_LD_12-05Section.pdf and Table 1).

Table 1: Whalesback Drill Results (2011-2012)


Hole No.     NAD 83 UTM Zone 21    Dip (o)  Az (o)  From (m)  To (m)  Interval (m)*  Cu (%)
            East (m)   North (m)
WB-11-100   571,528    5,493,983    -43.9   329.9     51.4     51.8     0.4          0.9

WB-11-101   571,560    5,493,911    -43.0   336.1    122.8    124.5     1.7          3.4

WB-11-102   571,560    5,493,911    -62.5   334.9    163.8    164.0     0.2         12.6
and                                                  169.0    170.0     1.0          1.5

WB-11-103   571,534    5,493,873    -48.8   332.6    172.7    173.6     0.9          1.4

WB-12-104   571,725    5,493,778    -62.8   324.6    376.9    395.1    18.2          2.8
including                                            376.9    381.1     4.2          5.2
including                                            390.1    393.6     3.5          3.4
and                                                  403.0    405.0     2.0          2.6

WB-12-105   571,725    5,493,778    -65.9   332.9    402.8    403.2     0.4          7.5
and                                                  468.0    475.0     7.0          1.6
including                                            472.0    475.0     3.0          2.2
and                                                  483.7    484.4     0.7          1.3

Notes:
1) * The reported copper intersections are core lengths. The true
thicknesses of the various copper intersections are highly variable due
to the stringer nature of the mineralization.

The purpose of the current drill program, comprising approximately
4,000 metres of drilling in 13-15 holes, is to discover additional
copper resources at relatively shallow depths adjacent to the Mine
below and to the west of the old mine workings and to confirm
historical drill intercepts in undeveloped areas of the Mine for the
purposes of National Instrument 43-101 ("NI 43-101"). A digital
compilation of historical Diamond drill hole assay data recovered from
the archives of the Newfoundland and Labrador Department of Natural
Resources in St. John's suggests that there is excellent potential for
the discovery of additional copper resources at the Mine (see news
release dated October 20, 2011). The discovery of any new copper
resources at the Mine could, because of their proximity to the Deposit,
expand the total mineral resources available for mining and enhance the
overall economics of establishing a new mining operation at Little
Deer. At this time, the potential discovery of additional mineral
resources at the Mine is conceptual in nature and it is uncertain
whether further Diamond drilling will result in the discovery of
additional mineral resources.

All holes completed to date have intersected copper mineralization with
the most significant copper intervals being in holes 104, 105 and 101
(see Table 1 and Figure 1). Hole WB-12-104 intersected 2.8% Cu over a
core length of 18.2 m, including 5.2% Cu over 4.2 m and 3.4% Cu over
3.5 m. This hole was drilled to confirm the copper mineralization
intersected in historical hole 9-43 which assayed 4.0% Cu over 3.4 m
and 4.5% Cu over 6.1 m and for which no assay data was available in the
historical drill log. Hole WB-12-105 intersected 7.5% Cu over 0.4 m and
1.6% Cu over 7.0 m, including 2.2% Cu over 3.0 m. This intersection,
which is the easternmost hole drilled to date at this depth on the
Mine, occurs 90 m below hole 104 and 50 m east of historical hole 11-12
which intersected 1.6% Cu over 5.8 m. Hole WB-11-101 intersected 3.4%
Cu over 1.7 m at a depth of approximately 75 m below surface, west of
the area mined previously. The drill results to date confirm historical
copper intercepts and suggest that the Whalesback deposit remains open
to the east, west and at depth.

Preliminary Economic Assessment ("PEA") - Little Deer Copper Deposit

On November 1, 2011, Cornerstone and Thundermin announced the results
of a positive PEA for the Deposit. The PEA indicated that there is
potential to develop the Deposit on an attractive economic basis at
current metal prices (see news release dated November 1, 2011 and
Technical Report filed on SEDAR on December 15, 2011).

Mineral Resource Estimate - Little Deer Copper Deposit

On June 22, 2011, Cornerstone and Thundermin reported a NI 43-101
compliant mineral resource estimate for the Deposit comprising
Indicated Resources of 1,911,000 tonnes at an average grade of 2.37% Cu
(99.8 million pounds of copper) and Inferred Resources of 3,748,000
tonnes at an average grade of 2.13% Cu (175.9 million pounds of
copper). The mineral resource estimate was prepared under the
supervision of Mr. Eugene J. Puritch, P. Eng., President of P&E Mining
Consultants Inc. of Brampton, Ontario. Mr. Puritch is an independent
Qualified Person ("Q.P.") in accordance with NI 43-101.

Qualified Person

Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager,
Cornerstone Resources Inc., is the Q.P. responsible for supervising the
drilling program for the purposes of NI 43-101. All holes drilled by
Cornerstone and Thundermin are NQ in size. Bulk density measurements,
rock quality designations and photographic logging of significant
mineralized intersections are performed systematically prior to
assaying. The core is logged and the mineralized sections, where
appropriate, are sawn in half at a core logging facility in Springdale.
Half of the core is submitted for analyses to Eastern Analytical
Limited, an independent and qualified assayer located in Springdale,
Newfoundland and the remaining half of the core is kept for future
reference. Blanks, duplicates and standards are routinely used as part
of the assay procedures.

Little Deer Joint Venture

Under the terms of its joint venture agreement with Cornerstone,
Thundermin has the right to increase its interest in the Little Deer
property to 75% by completing a feasibility study and by arranging 100%
of the necessary bank financing required to place the property into
commercial production. Details on the Deposit and the terms of the
agreement with Cornerstone can be found in numerous news releases
between May 1, 2007 and November 1, 2011 and on Cornerstone's and
Thundermin's respective websites and on SEDAR.

Other News

Cornerstone announces the termination of option agreements on the
following Canadian properties:

1) Redcliff -- Deer Harbour (Copper) properties - Optioned to Vale
Exploration Canada Inc. (see news release dated May 04, 2010); and

2) Letitia Lake (REE) Property - Optioned to Rare Earth Metals Inc.
(see news release dated February 16, 2010)

These 100% owned properties have been returned to Cornerstone, and over
the next several months, all exploration results will be reviewed in
order to determine what additional work may be warranted.

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. 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  or 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

The link to a recent Corporate presentation is:
http://www.cornerstoneresources.com/i/pdf/Presentations_0112_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

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

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) 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 Thu Feb 23, 2012 at 5:15:00 AM 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$ 1.1 billions, € 944.2 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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9/21/2011Corporate Update- September 21, 2011
9/13/201111-30 - Significant Porphyry Copper-Gold mineralization disc...
8/30/201111-28 - Cornerstone Reports 1.34% Copper and 58.0 g/t Silver...
5/25/2011Exploration Update
4/26/2011(Little Deer)11-15 - Cornerstone and Thundermin continue to intersect hig...
4/26/2011(Little Deer)and Thundermin Continue to Intersect High Grade Copper Over ...
4/15/2011Exploration Update
2/18/2011- No Material Change
1/25/2011CEO Letter to Shareholders
5/19/2010Options New Brunswick REE property
5/18/2010Corporate Update
5/17/201010-09 - Cornerstone reports significant progress on Ecuador ...
5/3/2010Intersect 4.6% Cu over 5.9 metres, including 14.5% copper ov...
4/16/2010Corporate Update
3/30/201010-05 - Cornerstone announces Phase II of Macar=E1 Strategic...
2/16/201010-03 - Cornerstone options Labrador rare metals and REE pro...
11/17/200909-26 - Cornerstone engages Investor Relations consultant
11/5/200909-24 - Ecuador Mining Regulations signed into law
10/16/2009Government of Ecuador confirms date of approval of Mining Re...
10/14/200909-21 - Cornerstone acquires new Lithium and Rare Metals pro...
9/29/200909-20 - Cornerstone acquires new Rare Metals and REE propert...
6/9/2009Corporate Update
6/4/200909-12 - Cornerstone to resume work on Macar=E1 project=2CEcu...
5/26/200909-11 - Cornerstone update on recommencement of work in Ecua...
3/3/200909-04 - Cornerstone updates mining law in Ecuador
2/27/2009Corporate Update
1/15/2009Cornerstone Update
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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