- Cornerstone announces diamond drilling results on the Red
      Cliff copper property in Newfoundland

Mount Pearl, NL, Canada:   Cornerstone Capital Resources Inc.
("Cornerstone") (CGP: TSX-V, GWN: F, GWN: B, CTNXF: OTC) today
announced the results of a diamond drilling program carried out in late
2010 on its Red Cliff copper property by Vale Exploration Canada Inc.
("VEC"), a wholly-owned subsidiary of Vale S.A. (NYSE: VALE and VALE.P;
BM&F BOVESPA: Vale3 and Vale5; Euronext Paris: Vale3 and Vale5)
("Vale"). As previously announced (see news release dated May 04,
2010), VEC has the option to acquire a 60% interest in Cornerstone's
Red Cliff and Deer Harbour properties which are located on the
Bonavista Peninsula in eastern Newfoundland. VEC is the operator of the
exploration programs during the option period in consultation with
Cornerstone. The properties are targeting sediment-hosted stratiform
copper (SSC) deposits similar to those of the prolific Central African
Copperbelt, also of Late Neoproterozoic age.

The drilling program consisted of 6 holes (RC-10-01 thru RC-10-06)
totaling 870 m. A 7th hole (RC-10-07) was started but abandoned at only
8 m due to a lack of available water. Drilling was carried out in three
separate areas of the Red Cliff property: i) East of Swibbs Cove Pond
(3 holes); ii) East of Duntara (1 hole); and iii) North of Duntara (3
holes). Drill hole locations are shown in Figure 1 (see:
http://cornerstoneresources.com/i/pdf/Properties_NFLDRC_11-14Fig1.pdf)
and a summary of results is provided below in Table 1.

Table 1. Summary of Diamond Drilling Results, Red Cliff property (VEC -
Q4 2010)

Hole ID   Location (UTM NAD 27, Zone 22)   Elevation   Dip   Azimuth  Length   Results / Remarks
              Easting      Northing           (m)      (�)     (�)     (m)

RC-10-01       320947       5384140           122      -70     225     251.0   No significant Cu
RC-10-02       320341       5386161            83      -60     270      71.0   No significant Cu
RC-10-03       320540       5385647           120      -60     270      68.0   No significant Cu
RC-10-04       324564       5385860            88      -70     135      77.0   No significant Cu
RC-10-05       326617       5384880            88      -70     235     239.0   No significant Cu
RC-10-06       325752       5386926            96      -70     170     164.0   Low-grade copper encountered
                                                                               120.0 - 149.9 m: 0.12% Cu over 29.9 m
                                                                               including 0.27% Cu over 10.9 m
                                                                               (137.0 - 147.9 m). Best assay of
                                                                               1.38% Cu and 8.4 g/t Ag over 1.0 m
                                                                               from 137.0-138.0 m
RC-10-07       325093       5386196            99      -70     170       8.0   Hole abandoned in red beds at only 8.0 m
Total                                                                  878.0

All holes were targeting and successfully intersected the favourable
reduced grey bed horizons. However, with the exception of hole RC-10-06
located north of the Blue Point prospect, none of the holes encountered
significant copper mineralization. Hole RC-10-06 intersected low grade
copper grading 0.27% Cu over 10.9 m (137.0 - 147.9 m) within a broader
zone grading 0.12% Cu over 29.9 m (120.0 -- 149.9 m). A single 1.0 m
sample from 137.0 -- 138.0 m returned a maximum assay of 1.38% Cu and
8.4 g/t Ag.

During the next several weeks, consulting geologist Dr. Jon Thorson and
expert on SSC deposits will be reviewing the Red Cliff drill core with
VEC and Cornerstone geologists in order to help guide future
exploration work.

This press release was prepared by Terry Brace, P.Geo., Cornerstone's
VP Exploration and a Qualified Person (QP) in accordance with National
Instrument (NI) 43-101. Exploration work on the Red Cliff project was
carried out under the supervision of Cameron Bowie, P.Geo., VEC's
Principal Geologist for North American Exploration and a QP in
accordance with NI 43-101.

All drill holes are NQ in size. The core is logged and photographed and
the mineralized sections, where appropriate, are sawn in half at a core
logging facility in Port Rexton, NL.  Half of the core is submitted to
Eastern Analytical Limited in Springdale, NL for sample preparation,
and the pulps are sent to the ALS Chemex laboratory in Sudbury, ON. All
samples are analyzed using four acid digestion and 33-element
geochemical ICP-AES technique. Any samples exceeding the geochemical
ICP-AES upper detection limit are re-analyzed using four acid digestion
and ICP-AES technique designed for low grade mineralized materials. The
remaining half of the core is kept for future reference. Blanks,
duplicates and standards are used as part of the assay procedure
according to Vale's QA/QC protocols.

Other News
In other news, Cornerstone announces that it has signed a definitive
agreement to acquire 100% of the shares of Santa Barbara Copper and
Gold S.A. ("SBCG"), a wholly owned Ecuadorian subsidiary of Santa
Barbara Resources Limited (TSX-V: SBL). The key assets of SBCG are the
La Encrucijada and Cascabel gold and silver projects. The terms of the
agreement and a description of the two projects are contained in
Cornerstone's February 17, 2011 news release:
http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=443025.

Also in other news, during the first quarter of 2011, 14,481,276
warrants have been exercised by warrant-holders, providing cash
proceeds to the Company of $2.6 million.

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. 

About VEC
Vale is the second largest metals and mining company in the world, one
of the 30 largest publicly traded companies in the world and the
largest private sector company in Latin America. Vale has a market
capitalization of around US$ 165 billion, with approximately 500,000
shareholders from all continents. Vale is committed to the pursuit of
sustainable growth by operating with respect for the natural
environment and being an ethically and socially responsible company.

Cautionary Notice:
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
herein.

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

Investors can access and join the following Cornerstone social media
channels:
Facebook (http://www.facebook.com/cornerstoneresourcesinc)
Twitter (http://twitter.com/Cornerstone_cgp)
YouTube channel (http://www.youtube.com/user/CornerstoneResource)
Flickr (http://www.flickr.com/photos/cornerstoneresources)

The link to a recent CEO video interview is:
http://www.cornerstoneresources.com/i/media/SHCornerstone.asx

The link to recent CEO audio interviews is:
http://www.cornerstoneresources.com/s/Interviews.asp

The link to a recent Corporate presentation with narration is:
http://rblcommunications.com/webcasts/Cornerstone/CGPmarch2011/CGPmarch2011.html

On Behalf of the Board,
H. Brooke Macdonald
President

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.