SolGold and Cornerstone file Technical Report for Cascabel Pre-Feasibility Study
June 01 2022 - 1:22PM
Cornerstone Capital Resources Inc. (“Cornerstone” or “the
Company”) (TSXV:CGP) (OTC:CTNXF)
(FWB:GWN1) is pleased to announce
it has filed on SEDAR a technical report for the Pre-Feasibility
Study (PFS) announced April 20, 2022 for the Alpala deposit,
Cascabel project, Ecuador. The technical report is available under
the Company’s profile on SEDAR at www.sedar.com and on the
Company’s web site (www.cornerstoneresources.com). The April 20,
2022 news release summarizing the PFS results can be viewed at
https://cornerstoneresources.com/news-releases/22-09-pre-feasibility-study-supports-long-life-high-value-cascabel-project/
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:
Investor Relations: Mario Drolet; Email: Mario@mi3.ca; Tel.
(514) 904-1333
Due to anti-spam laws, many shareholders and
others who were previously signed up to receive email updates and
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at http://www.cornerstoneresources.com/s/InformationRequest.asp
Cautionary Notice:
News releases, presentations and public
commentary made by Cornerstone and its Officers may contain certain
statements and expressions of belief, expectation or opinion that
are forward looking statements, and that relate, among other
things, to interpretations of exploration results to date and the
proposed strategy, plans and objectives or to the expectations or
intentions of the Company’s Directors, including the plan for
developing the Cascabel Project currently being studied as well as
the expectations of the Company as to the future price of copper,
gold and silver, and as to the reasonableness of assumptions in the
PFS about royalty rates payable to the Government of Ecuador which
are subject to negotiation in a final binding development
agreement. Such forward-looking and interpretative statements
involve known and unknown risks, uncertainties, and other important
factors beyond the control of the Company that could cause the
actual performance or achievements of the Company to be materially
different from such interpretations and forward-looking
statements.
Accordingly, the reader should not rely on any
interpretations or forward-looking statements; and save as required
by the exchange rules of the TSXV or by applicable laws, the
Company does not accept any obligation to disseminate any updates
or revisions to such interpretations or forward-looking statements.
The Company may reinterpret results to date as the status of its
assets and projects changes with time expenditure, metals prices
and other affecting circumstances.
This release may contain “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements regarding the Company’s plans for developing
its properties. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”.
Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: transaction risks; general business, economic,
competitive, political and social uncertainties; future prices of
mineral prices; accidents, labour disputes and shortages, including
those of anti-mining sentiment in certain regions of Ecuador, and
other risks of the mining industry. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Factors that could cause actual
results to differ materially from such forward-looking information
include, but are not limited to, risks relating to the ability of
exploration activities (including assay results) to accurately
predict mineralization; errors in management’s geological modelling
and/or mine development plan; capital and operating costs varying
significantly from estimates; the preliminary nature of visual
assessments; delays in obtaining or failures to obtain required
governmental, environmental or other required approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; the
global economic climate; fluctuations in commodity prices; the
ability of the Company to complete further exploration activities,
including drilling; delays in the development of projects;
environmental risks; community and non-governmental actions; other
risks involved in the mineral exploration and development industry;
the ability of the Company to retain its key management employees
and skilled and experienced personnel; and those risks set out in
the Company’s public documents filed on SEDAR at www.sedar.com.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
On Behalf of the Board, Brooke MacdonaldPresident 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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