Ottawa - Cornerstone Capital Resources Inc. ('Cornerstone' or the 'Company') (TSXV: CGP) (Frankfurt: GWN) (Berlin: GWN) (OTC: CTNXF) is pleased to announce the filing on SEDAR of an amended and restated independent NI 43-101 Technical Report entitled: 'Cascabel Property NI 43-101 Technical Report, Alpala Porphyry Copper-Gold-Silver Deposit - Mineral Resource Estimation, January 2021' with an Effective date: 18 March 2020 and Amended Date: 15 January 2021.
A Mineral Resource Estimate ('MRE') and subsequent technical report for the Alpala Porphyry Copper-Gold-Silver Deposit in the Cascabel Property in Northern Ecuador was completed on May 22, 2020 (the 'Original Report'). This Amended Technical Report has been filed by the Company as a result of a review by staff of the Ontario Securities Commission (the 'OSC') and the Alberta Securities Commission in respect of the Company. On December 2, 2020, Cornerstone announced that the OSC had issued an order designating the Company as a reporting issuer for the purposes of Ontario securities law. The OSC is the principal regulator of the Company. As of result of the filing of the Amended Technical Report, the OSC's review is now complete.
SolGold plc ('SolGold'), as project operator, updated the Original Report with further disclosure to ensure full compliance with NI 43-101 of the Canadian Securities Administrators ('NI 43-101'). SolGold filed the updated report dated September 29, 2020 on SEDAR on October 19, 2020 (the 'September 29 Report'). The September 29 Report has been relodged as the Amended Technical Report to recognize SolGold and the Company as common issuers of the current Technical Report on the Cascabel Property, Alpala Porphyry Copper-Gold Silver Deposit - Mineral Resource Estimation. The Amended Technical Report does not change the mineral resources, or any other technical content outlined in the Original Report or the September 29 Report, other than re-addressing and re-dating the report.
About Cornerstone and the Cascabel Project
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 21.4% 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 7.5% of the shares of joint venture partner and project operator SolGold plc ('SolGold'). 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 will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.
Contact:
Mario Drolet
Tel: (514) 904-1333
Email: Mario@mi3.ca
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', 'will', '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.' In particular, this news release contains forward-looking statements including, without limitation, with respect to the Company's expectation that a PFS and DFS in respect of the Alpala deposit will be completed and the expected timing for such completion. 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.
CORNERSTONE CAPITAL RESOURCES INC. 
