Technical Report filed for Alpala Mineral Resource Estimate # 3
May 22 2020 - 12:52PM
Cornerstone Capital Resources Inc. (“Cornerstone” or “the
Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN)
(OTC:CTNXF) is pleased to announce that it has filed on
SEDAR an independent technical report for the updated Mineral
Resource Estimate # 3 for the Alpala deposit announced on April 7,
2020. The technical report, entitled "Cascabel Property NI 43-101
Technical Report, Alpala Mineral Resource Estimation, May 2020,
Effective date: 11 November 2019", Signature date 22 May 2020” is
available under Cornerstone’s profile on SEDAR at www.sedar.com and
on Cornerstone’s web site (www.cornerstoneresources.com).
About Cornerstone and the Cascabel Joint
Venture:
Cornerstone Capital Resources Inc. is a mineral
exploration company with a diversified portfolio of projects in
Ecuador and Chile, including the Cascabel gold-enriched copper
porphyry joint venture in north west Ecuador. Cornerstone has a 22%
direct and indirect interest in Cascabel comprised of (i) a direct
15% interest in the project financed through to completion of a
feasibility study and repayable at Libor plus 2% out of 90% of its
share of the earnings or dividends from an operation at Cascabel,
plus (ii) an indirect interest comprised of 8.2% of the shares of
joint venture partner and project operator SolGold Plc.
Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned
by SolGold and Cornerstone, holds 100% of the Cascabel concession.
Subject to the satisfaction of certain conditions, including
SolGold’s fully funding the project through to feasibility, SolGold
Plc will own 85% of the equity of ENSA and Cornerstone will own the
remaining 15% of ENSA.
Further information is available on
Cornerstone’s website: www.cornerstoneresources.com and on
Twitter. For investor, corporate or media inquiries, please
contact:
Investor Relations: Mario Drolet; Email: Mario@mi3.ca; Tel.
(514) 904-1333
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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 after 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.
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