Cornerstone Provides Update on Cascabel Copper-Gold Porphyry Exploration Project in Northern Ecuador

Cornerstone Capital Resources Inc. announces the following project update for the Cascabel copper-gold porphyry exploration project in northern Ecuador in which the Company has a 15% interest financed through to completion of a feasibility study.

The Company advises that Hole 11 at Central Alpala was terminated at 1668m. The drilling rig has been relocated to the Hole 12 pad site at Alpala Central on the south-eastern side of the Hole 5 drill pad. Hole 12 is scheduled to drill at -87 degrees to 210 degrees azimuth and a planned depth of 1600m. The hole is designed to test south east extensions of the high grade intersections in hole CSD-14-005, where copper bearing B-veins extend at surface.

The Company will report the balance of assays for Hole 11 when available, and the Company is preparing a further update in respect of the cluster of additional Cascabel project targets at Alpala north-west, and Alpala south-east, and Chinambicito, Aguinaga and Tandayama-America.

The additional drilling rig that will be mobilized is currently under modification at the contractor's workshop, to suit planned drill hole depths and conditions at Cascabel and it is expected as previously advised to be on site in July.