OTTAWA, April 28, 2022 (GLOBE NEWSWIRE) —
Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF)
announces that Newcrest Mining Limited (ASX, TSX: NCM) (“Newcrest”), the parent company of Newcrest International Pty Limited which has a farm-in agreement with Cornerstone for the Miocene gold-copper project in Chile, reported the following in its quarterly exploration report out today:
“Drilling was conducted across Newcrest’s Chilean exploration project portfolio with 2,216m drilling completed during the quarter at Mioceno (Option and Farm-in Agreement with Cornerstone Capital Resources Inc.) and Esparta (Option Agreement with private individuals). Complete assays were received, with no significant results and interpretation of the data is ongoing.”
The drill program was announced by Cornerstone on November 17, 2021:
https://cornerstoneresources.com/news-releases/21-19-newcrest-to-begin-drilling-at-cornerstones-miocene-gold-copper-project-in-chile-in-january/
Cornerstone has not yet received the report containing Newcrest’s analysis of the data nor its intentions with respect to the Miocene farm-in agreement going forward but will inform the market in due course once that has been received.
Qualified Person
:
Yvan Crepeau, MBA, P. Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Miocene project for Cornerstone (Newcrest is operator) and has reviewed and approved the information contained in this news release.
About Newcrest:
Newcrest is one of the largest gold mining companies in the world, operating mines in Australia, Papua New Guinea, and Canada.
About Cornerstone
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 northwest Ecuador. Cornerstone has a 20.8% 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 6.85% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadoran 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
[email protected]
, or:
Investor Relations:
Mario Drolet; Email:
[email protected]
; Tel. (514) 904-1333
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http://www.cornerstoneresources.com
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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 beliefs, plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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.
