Cornerstone Capital Resources Inc

Published : April 30th, 2012

12-07 - Cornerstone announces further exploration programs on the Shyri property, Ecuador

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=======================================================================
Re:   News - Monday, April 30, 2012
      12-07 - Cornerstone announces further exploration programs on the
      Shyri property, Ecuador
=======================================================================

Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) today announced
that a US$1.7 million exploration program has been approved by its
joint venture partner, Intrepid Mines Limited ("Intrepid"),  for the
second quarter ("Q2") 2012 on the Shyri property located in Azuay
province in southern Ecuador. Intrepid is funding 100% of the program,
after completion of which it will have earned its initial 60% interest
in the property (see "Shyri Option Agreement" below).

Highlights:

.. The Q2 program includes airborne and ground geophysical surveys, soil
geochemistry surveys, prospecting, detailed geological and structural
mapping, and a Phase 3 drilling program totaling approximately 2,500
metres on high priority porphyry targets on the western portion of the
Gama prospect.

.. The Q2 program is part of a larger exploration program totaling
US$4.13 million proposed by Cornerstone for the remainder of 2012. The
remainder of the program (Q3 & Q4) is subject to approval by Intrepid
on a quarterly basis.

.. The overall program proposed for 2012 contemplates 4 drilling
programs totaling 8,500 metres to drill test targets on Gama, Vetas
Grandes and Ca�aribamba.

"We are extremely pleased that Intrepid has approved the proposed
second quarter 2012 exploration program at Shyri, which includes
significant airborne and ground surveys, as well as additional drilling
focused on porphyry targets at the Gama prospect" said Brooke
Macdonald, Cornerstone's President and CEO. "We're confident that this
year's planned work programs will result in the identification of new
epithermal and porphyry drill targets, which will be prioritized along
with those already identified."

2012 Shyri property exploration program

Since acquiring the Shyri property in 2005, Cornerstone and its
partners have successfully identified highly prospective areas through
systematic and detailed exploration programs. So far four prospects
have been identified - Gama, Vetas Grandes, Ca�aribamba and Yanasacha.
Most of the exploration work prior to the April 2008 Mining Moratorium
(MM) focused on the specific prospect areas and as a result, very
little exploration work has been carried out on the balance of the
concessions.

The 2012 exploration program is designed to further test the individual
prospects by drilling and to explore parts of the concessions where
only limited work was carried out. An overall work program proposal
totaling US$4.13 million is currently under review by Intrepid. This
proposal includes Phase 3 drilling at Gama and Phase 1 drilling
programs at the Vetas Grandes and Ca�aribamba prospects, as well as a
systematic appraisal of the potential of the ground surrounding the
prospects.

A detailed helicopter borne magnetic and radiometric survey totaling
approximately 2,500 line kilometres (km) is planned to cover the
southern part of the Shyri property (4 concessions including the Vetas
Grandes and Ca�aribamba prospects) and the Yanasacha prospect located
in the northeastern part of property (1 concession). A detailed
geological and structural analysis will be carried out on all prospects
including field mapping, drill core review where available and
reinterpretation of airborne and ground geophysical survey data.
Another round of drilling totaling 2,500 metres (m) is proposed during
the fourth quarter (Q4) on prospects showing the best potential to host
economic mineralization and to test new targets developed from the
ongoing programs. Individual work programs on each prospect area are
described below.

Gama prospect

The Gama prospect 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 High Sulphidation
(HS) epithermal gold deposit, 15 km to the south of International
Minerals' Rio Blanco Low Sulphidation (LS) gold-silver deposit and 10
km to the southeast of the Chaucha porphyry copper-molybdenum deposit.

Two drilling programs totaling 4,279 m were completed during 2011.
Drilling results and interpretation were provided in Cornerstone News
Releases 11-17, 11-26 and 12-03, the latter of which also summarized
the Q1 2012 exploration program.

A 75 line km Induced Polarization (IP) geophysical survey is planned to
cover prospective ground defined by geology and geochemical surveys. A
detailed ground magnetic survey (731 line km) that was initiated in
late January will be extended to cover newly defined geochemical
anomalies. Some infill soil sampling is also planned to better define
geochemically anomalous areas.

All new data will be integrated with the current database and developed
into a 3D model. A Phase 3 drilling program (2,500 m) that will test
priority targets is expected to commence in June.

Vetas Grandes prospect

Cornerstone discovered the Vetas Grandes mineralization in 2005, 20 km
south of Gama. The prospect comprises multiple, ENE trending LS to
Intermediate Sulphidation (IS) epithermal quartz veins within a zone at
least 2 km long and 1.5 km wide. The geology is similar to the nearby
Rio Blanco gold-silver deposit. Veins are exposed over a vertical
relief of 300 m and show a range of gold values and geochemical
signatures. Bonanza grade material, with channel samples returning 53.4
g/t Au and 641 g/t Ag over 3.4 m, appears to be localized at vein
intersections and where veins outcrop around the 3,220 m elevation.  At
this level there is evidence of boiling accompanied by the highest gold
values in surface samples. The prospect and exploration results are
described in Cornerstone News Releases 06-06, 06-19, 06-25 and 07-04.

The Vetas Grandes prospect has been thoroughly explored and is now at
the drill-ready stage. A structural study will be carried out and all
data integrated into a 3D model. Defined drill targets will be tested
by a Diamond drill program (2,500 m) during the third quarter (Q3) 2012
once all permits (Environmental License and Water Permit) are granted
by the authorities. A systematic prospecting program is also planned on
parts of the concessions that were not systematically explored in the
past, using data generated during the early days of the project and the
new airborne geophysical data.

Ca�aribamba prospect

The Ca�aribamba prospect represents an IS, disseminated and vein-type
gold-silver epithermal system hosted in a diatreme complex.
Geologically it appears to be analogous to large, diatreme-hosted gold
deposits in Rosia Montana, Romania and Kelian, Indonesia. The area has
a history of artisanal mining of high-grade veins over at least 300 m
of elevation and in the 1970's four short drill holes were completed on
one of the four recognized vein systems. Work by Cornerstone expanded
known mineralization another 500 m north with the discovery of the
Guabisay structure where a 4.5 m channel sample within a
fault-controlled breccia zone returned 32.2 g/t  Au.  Cornerstone also
completed extensive geological, geochemical and geophysical (IP and
magnetic) surveys in the area and outlined several high priority
targets unrelated to the known mineralized zones.

This prospect is located only 5 km southeast of Vetas Grandes and is at
the same drill-ready and permitting stages. As with the other
prospects, all previous and new exploration data will be integrated,
targets defined and drill tested (1,000 m) during Q3 2012. Prospecting
work will be carried out on the Shyri Oeste concession located to the
west and where prospective LS vein systems were identified in the past
but never followed up.

Yanasacha prospect

The Yanasacha prospect occurs in the northeast portion of the Shyri
property, approximately 9 km northeast of the Quimsacocha HS deposit,
and is the least explored of the four main prospects. It comprises two
distinct shallowly dipping, lithologically controlled silicic
alteration zones (or lithocaps) at 3,300 m and 3,500 m elevation. These
are associated with near-vertical silicic ribs that define feeders to
the lithocaps. Limited rock sampling has returned maximum values of 1.1
g/t Au and 14 g/t Ag from the silicic alteration. A soil survey over an
area of 1.6 km by 2.2 km has identified a 1.4 km by 1.5 km circular
zone defined by > 10 parts per billion (ppb) Au and contains 4
anomalies > 26 ppb Au (95th percentile) including 15 samples with > 50
ppb Au. Individual soil values returned up to 328 ppb Au.

Permitting is currently underway, and geological mapping and rock and
soil sampling are scheduled during Q4 2012.

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 Shyri exploration 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 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: communications@crigold.com
North America toll-free: 1 (877) 277-8377
Martti Kangas - Direct Line: 1 (416) 367-5124
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_0412_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.

=======================================================================
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 Mon Apr 30, 2012 at 8:50:00 AM Pacific Time
=======================================================================
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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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1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
11/14/201212-24 - Cornerstone Recovers Rights to Ca=F1a Brava Gold-Sil...
11/14/2012Recovers Rights to Caña Brava Gold-Silver Property, Ecuador
11/8/2012Announces Completion of Airborne Geophysical Survey and Prov...
10/15/2012Provides Exploration Update
10/15/2012Provides Exploration Update
10/3/2012Announces Prospecting Results on La Encrucijada Project, Ecu...
9/27/2012Announces Phase 3 Drilling Program at the Gama Prospect, Ecu...
9/20/2012(Cape Ray)12-19 - Cornerstone and Benton Resources sign letter of inte...
7/26/201212-16 - Cornerstone and Thundermin announce significant copp...
7/18/2012(Cape Ray)12-14 - Cornerstone Announces Initial NI 43-101 Compliant Mi...
6/29/20122012 AGM Presentation and Remarks
6/28/201212-13 - Cornerstone and Thundermin Retain P&E Mining Consult...
5/10/2012(Little Deer)12-10 - Cornerstone and Thundermin Extend Copper Mineralizat...
1/18/201212-02 - Wall Street Reporter Senior Analyst Interviews Corne...
1/13/201212-01 - Cornerstone Grants Incentive Stock Options
1/12/2012$5m Cornerstone Investment Agreement
12/30/201111-39 - Cornerstone Announces Management Changes
12/20/2011(Little Deer)11-38 - Cornerstone and Thundermin File NI 43-101 Technical ...
12/2/2011d Cornerstone Fact Sheet
9/26/2011Interview With the President, Brooke Macdonald
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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