Re: News - Friday, October 16, 2009
09-22 - Government of Ecuador confirms date of approval of Mining
Regulations and authorization to resume exploration activities
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that at a
meeting held yesterday in Toronto, the Government of Ecuador confirmed
that the Regulations to the Mining Law will be approved by November 4,
2009 and exploration work will then be allowed to resume.
This announcement was made by the Ecuadorian Vice-Minister of Strategic
Sectors, Mr. Luis Roman and the Vice Minister of Non-Renewable Natural
Resources (ex Ministry of Mines and Petroleum), Mrs. Carolina Bernal.
Both Government representatives are part of an Ecuadorian delegation
that met with their Canadian peers in Ottawa the previous day.
Cornerstone expects to receive approval of its environmental studies
and updated environmental management plans shortly from the Ministry of
Environment. These environmental studies are related to the four
projects controlled and managed by its wholly-owned subsidiary,
Cornerstone Ecuador S.A.; Shyri, Macara, Bella Maria and Monterrey.
Colin McKenzie, Cornerstone's President & CEO, stated "this important
development paves the way for Cornerstone to resume work on its highly
prospective properties and more importantly, will be the means to
attract joint venture partners to assist us in advancing these
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 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.
Certain statements contained in this press release may be considered as
forward-looking. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially
from estimated or implied results. While Cornerstone anticipates that
subsequent events may cause its views to change, it expressly disclaims
any obligation to update the Forward-Looking Statements contained
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 firstname.lastname@example.org;
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) 2009 CORNERSTONE CAPITAL RESOURCES INC. (CGP) All rights
reserved. For more information visit our website at
http://www.cornerstoneresources.com/ or send
Message sent on Fri Oct 16, 2009 at 5:15:00 AM Pacific Time