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Re: Press Releases - Monday, June 09, 2008
08-21 - Cornerstone and Thundermin intersect
copper
mineralization over 74 metres in a new sulphide
zone on the
Little Deer Joint Venture, Newfoundland
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNFN) and 50% joint venture partner
Thundermin Resources Inc. (TSX--THR) announce that they have
intersected a new copper zone in hole LD-98-07D on the Little Deer
property. This zone comprises 74 m of disseminated, stringer,
semi-massive and massive sulphide mineralization containing various
amounts of chalcopyrite, pyrrhotite and pyrite within moderately to
intensely altered mafic volcanic rocks. The center of this new
copper-bearing zone occurs at a vertical depth of approximately 633 m
and it is located approximately 50 m north of the high-grade copper
horizon that has been the focus of Cornerstone's and Thundermin's
drilling program on the property to date. The lateral and vertical
extent of this zone, as well as its true thickness, are unknown at this
time as previous drilling does not appear to have tested this zone.
Core samples hole LD-98-07D have been sent for analysis to Eastern
Analytical Limited, an independent and qualified assayer located in
Springdale. The results will be released when they are received which
is expected to be within the next two weeks. Drill hole LD-98-07E,
designed to test approximately 50 m above the intersection in hole
LD-98-07D, is currently in progress as part of the on-going, $1.0
million exploration program on the property which is located
approximately 10 km north of Springdale in north-central Newfoundland.
Thundermin, the operator, and Cornerstone have the option, on a 50/50
basis to earn a 100% interest in the Little Deer copper deposit and
adjacent property from Weyburn Investments Ltd. Thundermin, under its
joint venture agreement with Cornerstone, has the right to increase its
interest in the Little Deer property to 75% by funding a feasibility
study and arranging 100% of the necessary project financing required to
place the property into commercial production. Details on the Little
Deer copper deposit and the terms of the agreement with Weyburn can be
found in news releases dated May 1, June 21, July 9, October 30,
December 11, 2007 and January 24, April 9 and May 15, 2008 and on
Thundermin's and Cornerstone's respective websites and on SEDAR.
Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager,
Cornerstone Resources Inc., is the qualified person that is responsible
for supervising the drilling program on the property for the purposes
of National Instrument 43-101. Mr. Hussey has reviewed and approved the
contents of this release. All 2007 and 2008 drill holes are NQ in size.
Specific gravity, rock quality determinations 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 and remaining half of the core is kept for future
reference. Blanks, duplicates and standards are routinely used as part
of the assay procedures.
Cornerstone and Thundermin would like to acknowledge the financial
support received from the Junior Exploration Assistance (JEA) Program
of the Province of Newfoundland and Labrador in carrying out the above
referenced diamond drilling program.
About Cornerstone
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.
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 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 communications@crigold.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.
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Copyright (c) 2008 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 Jun 9, 2008 at 5:00:00 AM Pacific Time
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