Re: Press Releases - Tuesday, April 29, 2008
08-14 - Cornerstone acquires property with potash potential
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNFN) today announced further
expansion of its Codroy project in southwestern Newfoundland. An
additional 480 map staked claims were acquired by staking bringing the
total land position to 956 claims (238 square km). The new claims
cover favourable geology with demonstrated potential for salt and
potash (Codroy Location -
The Codroy project, underlain by Carboniferous age sedimentary rocks of
the Bay St. George Basin, was initially acquired to explore for
sediment hosted, stratiform copper deposits and uranium deposits.
However, the area is also highly prospective for salt and potash and
Cornerstone is now focusing attention on evaluation of that potential.
The new claims cover geological units of the Codroy Group which host
numerous gypsum, anhydrite and potassium salt prospects throughout the
Bay St. George Basin, and which are also stratigraphically equivalent
to the Windsor Group of the Maritime Provinces which host the
world-class potash deposits near Sussex New Brunswick. 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 we are
announcing today gives us the opportunity to use that expertise in the
search for potash in three locations that are all within the broader
Maritimes Sedimentary Basin."
This press release was prepared by Mike Basha, PEng., PGeo, Executive
Vice President for Cornerstone and a Qualified Person as per National
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. The company operates
exploration programs in Atlantic Canada and Ecuador.
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 email@example.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.
Copyright (c) 2008 CORNERSTONE CAPITAL RESOURCES INC. (CGP) All rights
reserved. For more information visit our website at
http://www.cornerstoneresources.com/ or send
Message sent on Tue Apr 29, 2008 at 10:00:00 AM Pacific Time