Cornerstone Corporate Update
MOUNT PEARL, NEWFOUNDLAND AND LABRADOR--(Marketwired - Apr 20, 2015) - Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP)(FRANKFURT:GWN)(BERLIN:GWN)(OTCBB:CTNXF) announces a clarification to its news release of April 14, 2015, regarding the letter of intent with Ecuador's State Mining Company "ENAMI EP".
Although ENAMI EP is a state enterprise, the granting of mineral concessions in Ecuador is within the exclusive jurisdiction of the Ministry of Mines, which sets its own policies with regard to the timing of opening certain areas of the country to exploration and who mineral concessions will be granted to, as a result of which there is no guarantee that concessions requested by ENAMI EP for joint exploration with Cornerstone will be granted.
The arrangement described in our April 14 news release to jointly explore properties with ENAMI is not an exclusive arrangement with Cornerstone. ENAMI EP is free to enter into similar arrangements with other companies. Cornerstone is only the first company to enter into such an arrangement.
While an exploration project may be composed of several concessions, pursuant to the Mining Law and the General Mining Regulations the maximum surface extension of any single mineral concession in Ecuador is 5,000 hectares.
The Letter of Intent is subject to negotiation and execution of a definitive binding agreement.
Cornerstone is pleased to be working with ENAMI EP to develop prospective new properties together.
About Cornerstone:
Cornerstone Capital Resources Inc. is a well-funded mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in 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 partnerships. Commitments from partners constitute significant validation of the strength of Cornerstone's projects.
Further information is available on Cornerstone's website: www.cornerstoneresources.com.
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
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.
Contact
For investor, corporate or media inquiries:
Cornerstone Capital Resources Inc.
Investor Relations
North America toll-free: 1 (877) 277-8377
ir@cornerstoneresources.ca
www.cornerstoneresources.com
