TSX.V: CCC OTCQB®: CCCCF Frankfurt: 1PY

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December 5, 2013 – Vancouver, British Columbia – Cornerstone Metals Inc. (TSX-V: CCC) (“Cornerstone” or the “Company”) held its Annual General and Special Meeting of Shareholders (the “AGM”) on December 2, 2013, at which the following directors were re-elected for the ensuing year – Paul Cowley, Jason Nickel, Courtney Shearer, and Fred Sveinson.

Following the AGM, the board of directors appointed Paul Cowley as President and Chief Executive Officer and re-appointed Rob McMorran as Chief Financial Officer of the Company for the ensuing year.

Subsequently, on December 4, 2013, Courtney Shearer tendered his resignation from the board of directors, due to other commitments.   The board would like to extend its appreciation to Mr. Shearer for his service to the Company.

About Cornerstone Metals Inc.

Cornerstone’s objective is to stage copper and precious metals properties to production in the Americas. The core competence of the Company’s Management and Board is in the exploration, permitting, development, construction and operation of mining projects. Cornerstone recently acquired four large scale copper projects in the prolific copper district in SW USA. Three projects have potential as large footprint, copper oxide deposits. The fourth has potential for a large-scale, copper-rich VMS deposit.

On Behalf of Cornerstone Metals Inc.

“Paul Cowley”

President and CEO

For further information, please contact:

Paul Cowley

Tel: 604-340-7711

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Website: www.cornerstonemetals.ca

Neither the 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.

November 4, 2013 - Vancouver, British Columbia - Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone”

or the “Company”) announces that it will hold an annual general and special meeting of its shareholders (the “AGM”) on December 2, 2013.

 

The Company also announces the approval by its board of directors of an Advance Notice Policy (the “Policy”), which Policy, among other things, includes a provision that requires advance notice to the Company in circumstances where nominations of persons for election to the board of directors are made by shareholders of the Company other than pursuant to (i) a “proposal” made in accordance with Division 7 of the Business Corporations Act (British Columbia)(the “Act”); or (ii) a requisition of the shareholders made in accordance with section 167 of the Act.

 

Among other things, the Policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.

 

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made by the Company, notice may be made no later than the close of business on the 10th day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made no later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

 

The Policy is effective and in full force and effect as of the date it was approved. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the AGM, and if the Policy is not confirmed at the meeting by ordinary resolution of shareholders, the Policy will terminate and be of no further force and effect following the termination of the AGM.

 

The date of the AGM is less than 50 days from the date hereof, therefore, any director nominations for the AGM must be received by the Company in compliance with the Policy no later than the close of business on Thursday, November 14, 2013.

 

“This added policy will allow the shareholders to be more involved in the direction and management of the Company moving forward,” stated Courtney Shearer, interim CEO.

 

The full text of the Policy will be available via SEDAR at www.sedar.com or upon request by contacting the Company at (406) 804-8636 or by email: This email address is being protected from spambots. You need JavaScript enabled to view it..

  

About Cornerstone Metals Inc.

 

Cornerstone’s objective is to stage copper and precious metals properties to production in the Americas. The Company’s Management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.

 Cornerstone recently acquired four large scale copper projects in the highly prolific copper district in SW USA. Three projects have potential as large footprint, copper oxide deposits. The fourth has potential for a large scale, copper-rich VMS deposit.

 

ON BEHALF OF CORNERSTONE METALS INC.

 

Courtney Shearer

Interim CEO & President

 

For further information, please contact:

Courtney Shearer

Tel: 403-804-8636

Fax: 888-255-9604

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

                                                                       

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.

 

October 3, 2013 - Vancouver, British Columbia - Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone” or the “Company”) is pleased to announce that it has entered into a securities exchange agreement with Global Resources Investment Ltd. (“GRIL”), an arm’s length party to the Company. On completion of this transaction, the Company will exchange units (“Units”) of the Company for ordinary shares of GRIT (defined below). Thereafter, Cornerstone will, at its election, sell the GRIT shares through the facilities of the London Stock Exchange to realize proceeds that will then be used to fund the Company’s exploration programs and for general working capital.

GRIL has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth. GRIL will re-register as a public company and be constituted as an investment trust with the name Global Resources Investment Trust Plc (“GRIT”) and seek admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.

Pursuant to the share exchange agreement, the Company will exchange 2,750,000 Units of the Company for 153,507 ordinary shares of GRIT. Each Unit will be issued at a deemed price of £0.0558/unit (approx. CAD$0.09/unit) and will be comprised of one common share of the Company and one share purchase warrant. Each warrant will be exercisable into one additional common share of the Company at a price of £0.0868/share (approx. CAD$0.14/share) for a period of two years. The GRIT shares will be issued at a deemed price of £1.00/share (approx. CAD$1.63/share).

Upon completion of this transaction, GRIT will become an insider of the Company in that it will acquire a 16.6% interest in the Company. The warrants will contain a provision that GRIT may only exercise such number of warrants that will not cause it to become a control person of the Company until such time as shareholder and TSX Venture Exchange approvals are obtained.

Closing of this securities exchange transaction is subject to a number of conditions precedent, including approval of the TSX Venture Exchange and GRIT successfully listing on the London Stock Exchange

About Cornerstone Metals Inc.

Cornerstone’s objective is to stage copper and precious metals properties to production in the Americas. The Company’s Management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.

Cornerstone recently acquired four large scale copper projects in the highly prolific copper district in SW USA. Three projects have potential as large footprint, copper oxide deposits. The fourth has potential for a large scale, copper-rich VMS deposit.

ON BEHALF OF CORNERSTONE METALS INC.
per:

“Courtney Shearer”
Interim CEO & President

For further information, please contact:

Courtney Shearer
Tel: 403-804-8636
Fax: 888-255-9604
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.

August 22, 2013 - Vancouver, British Columbia –Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone” or the “Company”) is pleased to announce that it has now completed the acquisition of all of the issued and outstanding shares of Copper One USA Inc. (“CO USA”) from Copper One Inc. (the “Vendor”), as described in previous news releases.

Through its acquisition of CO USA, the Company has acquired the Lone Mountain property, New Mexico, together with five other properties: West Jerome; Twin Peaks, West Safford and Teague Springs in Arizona and Mimbres in New Mexico.

Summary of the Agreement

On closing, the Company issued 2,250,000 shares to the Vendor. All shares are subject to a 4 month hold period as required under securities laws, expiring December 23, 2013. In addition, the Vendor agreed to a voluntary hold period on 750,000 shares, which hold period will expire on August 22, 2014.

Additional consideration is tied to specific properties and will be payable as follows:

  • Within 30 days of completing a feasibility study in respect of the Lone Mountain property, Cornerstone will (a) issue to the Vendor 2,000,000 Cornerstone common shares; (b) pay to the Vendor $1,000,000 in cash or shares at the Vendor’s option; and (c) grant to the Vendor a 0.5% net smelter return royalty capped at $5,000,000, which may be repurchased by Cornerstone for $1,000,000 in cash or shares at the Vendor’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of the Lone Mountain property.
  • Within 30 days of completing a feasibility study in respect of the West Jerome property, Cornerstone will: (a) issue to the Vendor 500,000 Cornerstone common shares; (b) pay to the Vendor $750,000 in cash or shares at the Vendor’s option; and (c) grant to the Vendor a 0.5% net smelter return royalty capped at $4,000,000, which may be repurchased by Cornerstone for $800,000 in cash or shares at the Vendor’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of the West Jerome property.
  • Within 30 days of completing a feasibility study in respect of any of the other properties, Cornerstone will: (a) issue to the Vendor 350,000 Cornerstone common shares; (b) pay to the Vendor $375,000 in cash or shares at the Vendor’s option; and (c) grant to the Vendor a 0.5% net smelter return royalty capped at $3,000,000, which may be repurchased by Cornerstone for $350,000 in cash or shares at the Vendor’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of such property.

The Lone Mountain Property

The Lone Mountain property will become Cornerstone’s principal copper project in the United States. Located near Silver City, New Mexico, the Lone Mountain property is situated in a well-known mining district, 11 km southwest of the Santa Rita-Chino mine and 16 km northeast of the Tyrone mine; both of these mines are large open-pit copper operations owned by Freeport-McMoRan and both currently produce copper using the SX-EW technology.

Land holdings on the Lone Mountain property consist of two New Mexico State mineral leases and 40 unpatented federal mining claims, comprising 619.17 hectares (1,530 acres). Cornerstone will have an undivided 100% interest in the claims and leases. The Company will retain, through Copper One USA Inc, a State issued Level 4 exploration level permit for up to 176 drill sites and 3 holes per site.

The Lone Mountain property covers a large tonnage porphyry copper system with some 25,500 metres of historic drilling in 56 drill holes. It represents a broadly-explored, (drill hole spacing was approximately 250 metres) well-mineralized, porphyry-skarn system with multiple, stacked mineralized targets. Three distinct targets are present; a near-surface zone of copper oxide mineralization, underlain by a mixed copper oxide-chalcocite zone and finally a lower copper-zinc skarn zone. Copper oxide mineralization begins approximately 60 metres below surface and continues to over 250 meters below surface. The copper oxide and mixed oxide-chalcocite zones will be the primary focus for Cornerstone, with the aim to in-fill and justify an NI43-101 resource as quickly as possible.

The mineralization is open in three directions. Drilling in 2011 by Copper One intersected 135 meters of 0.36% copper on a portion of the property that had never been tested and extended the known western zone mineralization to the south, tripling its length.

The Other Properties

The West Jerome property, near Jerome, Arizona, will be Cornerstone’s second priority, consisting of approximately five square kilometers of claims on the west side of Freeport McMoRan patented lands. The property, in a Volcanogenic Massive Sulfide camp, is a high-grade, massive sulfide target located 2.4 km south of the past-producing United Verde (32 million tons grading 4.4% copper, 1.5 oz/t silver and 0.04 oz/t gold). The West Jerome property has attractive untested TEM geophysical targets.

The Twin Peaks property near Wickenburg, Arizona is a partially drilled, copper oxide deposit that has excellent infrastructure and potential for a large open-pit copper oxide body with very low strip ratio. A surface area measuring 750 metres by 520 metres exhibits veins, veinlets, and stockworks of chrysocolla and secondary malachite, tenorite, and cuprite and chalcocite hosted by a pyrite-poor Laramide-age quartz monzonite.

According to the US Geological Survey, the Safford District is the biggest undeveloped copper district in the world with multiple world-class porphyry copper deposits. The district is dominated by Freeport McMoRan mining operations. The West Safford and Teague Springs properties are two well-positioned projects in the district.

The West Safford property is 11km west from the producing Dos Pobres mine. It consists of approximately 2,860 acres of claims, and a 640-acre Arizona State Mineral Exploration lease. The target at West Safford is a large tonnage "Resolution-type" porphyry copper target, buried beneath younger alluvium, in the Safford Mining District.

The Teague Springs property consists of 1,920 acres of claims located further west of Dos Pobres. The target area is a large tonnage, buried Laramide porphyry copper-molybdenum-silver-gold system associated with a large, untested IP anomaly and a Mo-Cu-Zn biogeochemical anomaly.

The Mimbres property consists of 45 unpatented lode claims and 2,040 acres of New Mexico State Mining Leases over a potential porphyry copper-molybdenum deposit and higher-grade copper-zinc-gold-silver-bearing skarns. It has a large airborne magnetic signature similar in size and magnitude to the neighboring Chino copper mine operated by Freeport McMoRan, 8 kilometres away.

Courtney Shearer, interim-CEO remarked, “We are very pleased to now have copper assets in safe jurisdictions amenable to exploration and mining activities. These properties are at various stages of exploration. Lone Mountain and West Jerome are both capable of becoming advanced-stage exploration projects very quickly with modest programs.

About Cornerstone Metals Inc.

Cornerstone’s objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company’s Management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.

ON BEHALF OF CORNERSTONE METALS INC.
per:

“Courtney Shearer”
Interim CEO & President

For further information, please contact:

Courtney Shearer
Tel: 403-804-8636
Fax: 888-255-9604
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Paul S. Cowley, P.Geo., director of the Company is the Qualified Person as defined in NI43-101, who has reviewed and approved the technical content of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone doe snot intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.

July 29, 2013 - Vancouver, British Columbia –Cornerstone Metals Inc. (TSXV – CCC) (“Cornerstone” or the “Company”) Further to its news releases of March 21st and May 14th 2013, it is pleased to announce that it has entered into the definitive agreement (“the Agreement”) with Copper One Inc. (TSXV: CUO) to acquire all of the shares of Copper One’s U.S. subsidiary, Copper One USA Inc. (“Copper One USA”), which holds 6 properties located in Southwest United States, with the principal property being Lone Mountain, New Mexico.   The other properties are West Jerome; Teague Springs; West Safford and Twin Peaks in Arizona and Mimbres in New Mexico.

Under the terms of the Agreement, Copper One will receive 2,250,000 Cornerstone common shares on the closing date of the sale, plus the following additional consideration tied to specific properties:

  • Within 30 days of completing a feasibility study in respect of the Lone Mountain property, Cornerstone will (a) issue to Copper One 2,000,000 Cornerstone common shares; (b) pay to Copper One $1,000,000 in cash or shares at Copper One’s option; and (c) grant to Copper One a 0.5% net smelter return royalty capped at $5,000,000, which may be repurchased by Cornerstone for $1,000,000 in cash or shares at Copper One’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of the Lone Mountain property. 
  • Within 30 days of completing a feasibility study in respect of the West Jerome property, Cornerstone will: (a) issue to Copper One 500,000 Cornerstone common shares; (b) pay to Copper One $750,000 in cash or shares at Copper One’s option; and (c) grant to Copper One a 0.5% net smelter return royalty capped at $4,000,000, which may be repurchased by Cornerstone for $800,000 in cash or shares at Copper One’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of the West Jerome property.
  • Within 30 days of completing a feasibility study in respect of any of the other properties, Cornerstone will: (a) issue to Copper One 350,000 Cornerstone common shares; (b) pay to Copper One $375,000 in cash or shares at Copper One’s option; and (c) grant to Copper One a 0.5% net smelter return royalty capped at $3,000,000, which may be repurchased by Cornerstone for $350,000 in cash or shares at Copper One’s option at any time up until the earlier of eight years following the date of the Agreement and the date on which commercial production is achieved in respect of such property.

750,000 of the 2,250,000 Cornerstone shares issued to Copper One on the closing date of the sale will be subject to a voluntary 12-month hold period.

The Agreement remains subject to certain customary closing conditions.

Courtney Shearer, interim-CEO remarked, “We will now have a predominantly copper-focused company.  The geographic and strategic clustering of the properties  will provide technical and logistical efficiencies to explore and develop these projects.” 

About Cornerstone Metals

Cornerstone’s objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company’s Management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.

On Behalf of Cornerstone Metals Inc.

Courtney Shearer, interim-CEO and President

For more information about Cornerstone Metals Inc., please visit:  www.cornerstonemetals.ca

FOR MORE INFORMATION, PLEASE CONTACT:

Courtney Shearer, interim-CEO and President

This email address is being protected from spambots. You need JavaScript enabled to view it. or (403)804-8636

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, statements with respect to the Company’s exploration and development prospects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Cornerstone Metals Inc. believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in the Company’s filings made with Canadian Securities Regulators. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Neither the 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.

May 24, 2013 - Vancouver, British Columbia – Cornerstone Metals Inc. (TSXV – CCC) (“Cornerstone” or the “Company”) announces that the temporary suspension of trading of the Company’s shares, as required by the TSX Venture Exchange (TSXV) pending receipt and review by the TSXV of acceptable documentation in connection with the Company’s proposed acquisition of Copper One USA Inc. (“CO USA”), has been lifted.  The Company has now completed a satisfactory due diligence investigation and is working on finalizing a Share Exchange Agreement with Copper One Inc. (TSXV: CUO) (the “Vendor”) to acquire all of the shares of CO USA, Copper One Inc.’s U.S., wholly-owned subsidiary.  CO USA holds the mineral rights to 6 copper properties located in New Mexico and Arizona, with the principal property being Lone Mountain, New Mexico.

Pursuant to the terms of the LOI relating to this transaction, as amended (see news releases of March 21, 2013 and May 15, 2013), on closing the Company will acquire all of the issued and outstanding CO USA shares in consideration for the issuance to the Vendor of a total of 2,250,000 Cornerstone shares (750,000 shares of which are in recognition of the existing financial assurances that are in place totalling approximately US$250,000).

Additional consideration is tied to specific properties as follows (all future share issuances being subject to further TSXV approval at the time of issue): 

 

(i)             Lone Mountain– New Mexico:  

Within 30 days of a Definitive Feasibility Study, the Company will:
(a)   issue 2,000,000 shares;
(b)  pay $1,000,000 in cash or shares (at the Vendor’s discretion); and
(c)   grant to the vendor a 0.5% NSR capped at $5,000,000, which may be repurchased for $1,000,000, payable in cash or shares (at the Vendor’s discretion)

 

(ii)           Jerome – Arizona: 

Within 30 days of a Definitive Feasibility Study, the Company will:
(a)   issue 500,000 shares;
(b)  pay $750,000 in cash or shares (at the Vendor’s discretion); and
(c)   grant to the vendor a 0.5% NSR capped at $4,000,000, which may be repurchased for $800,000, payable in cash or shares (at the Vendor’s discretion)

 

(iii)          Additional Properties – Arizona and New Mexico: 

Within 30 days of a Definitive Feasibility Study, the Company will:
(a)   issue 350,000 shares;
(b)  pay $375,000 in cash or shares (at the Vendor’s discretion); and
(c)   grant to the vendor a 0.5% NSR capped at $3,000,000, which may be repurchased for $350,000, payable in cash or shares (at the Vendor’s discretion)


The Company paid the Vendor an exclusivity fee of $10,000 on execution of the LOI.  The Company also agreed to pay the costs of updating the current NI43-101 report on the Lone Mountain property and a property payment owing on the Lone Mountain property of US$55,000 (which payment was made May 3, 2013).

Cornerstone re-negotiated exploration license and purchase option agreements for CO USA with the two surface landholders at Lone Mountain that provide surface exploration access and the option to purchase the surface rights to the lands in the future.

This transaction will be subject to standard closing conditions for a transaction of this nature, including but not limited to board and regulatory approvals.

Lone Mountain will become Cornerstone’s principal project in the United States. Located near Silver City, New Mexico, the Lone Mountain property is situated in a well-known mining district, 11 km southwest of the Santa Rita-Chino mine and 16 km northeast of the Tyrone mine; both of these mines are large open-pit copper operations owned by Freeport-McMoRan and both currently produce copper using the SX-EW technology.

Land holdings on the Lone Mountain property consist of two New Mexico State mineral leases and 40 unpatented federal mining claims, comprising 619.17 hectares (1,530 acres). Cornerstone will have an undivided 100% interest in the claims and leases.  The Company will retain, through CO USA, State issued Part 4 exploration level permits for up to 176 drill sites and 3 holes per site for a total of 528 drill holes.

The Lone Mountain property covers a large tonnage porphyry copper system with some 25,500 metres of historic drilling in 56 drill holes.  It represents a broadly-explored, (drill hole spacing was approximately 250 metres) well-mineralized, porphyry-skarn system with multiple, stacked mineralized targets.  Three distinct targets are present; a near-surface zone of copper oxide mineralization, underlain by a mixed copper oxide-chalcocite zone and finally a lower copper-zinc skarn zone.  Copper oxide mineralization begins approximately 60 metres below surface and continues to over 250 meters below surface.  The combined copper oxide and mixed oxide-chalcocite zone grades from 0.2% to 0.37% copper over significant widths.  The copper oxide and mixed oxide-chalcocite zones will be the primary interest of Cornerstone, with the aim to in-fill and justify a NI43-101 resource as quickly as possible.

 

The mining target is open in three directions.  Drilling in 2012 by Copper One intersected 135 meters of 0.36% copper on a portion of the property that had never been tested and extended the known mineralization to the south.

The West Jerome property, near Jerome, Arizona, will be Cornerstone’s second priority, consisting of approximately five square kilometers of claims on the west side of Freeport McMoRan patented lands.  The property, in a Volcanogenic Massive Sulfide camp, is a high-grade, massive sulfide target located 2.4 km south of the past-producing United Verde (32 million tons grading 4.4% copper, 1.5 oz/t silver and 0.04 oz/t gold).  The West Jerome property has attractive untested TEM geophysical targets.

The Mimbres Property consists of 45 unpatented lode claims and 2,040 acres of New Mexico State Mining Leases over a porphyry copper-molybdenum deposit and higher-grade copper-zinc-gold-silver-bearing skarns.  It has a large airborne magnetic signature similar in size and magnitude to the neighboring Chino copper mine operated by Freeport McMoRan, 8 km away.

The Twin Peaks property near Wickenburg, Arizona is a partially drilled, copper oxide deposit that has excellent infrastructure and potential for a large open-pit copper oxide body with very low strip ratio.  A surface area measuring 750 metres by 520 metres exhibits veins, veinlets, and stockworks of chrysocolla and secondary malachite, tenorite, and cuprite and chalcocite hosted by a pyrite-poor Laramide-age quartz monzonite.

According to the US Geological Survey, the Safford District is the biggest undeveloped copper district in the world with multiple world-class porphyry copper deposits.  The district is dominated by Freeport McMoRan mining operations.  The West Safford and Teague Springs properties are two well-positioned projects in the district.

The West Safford property is 11 km west from the producing Dos Pobres mine.  It consists of approximately 2,860 acres of claims, and a 640-acre Arizona State Mineral Exploration lease.  The target at West Safford is a large tonnage "Resolution-type" porphyry copper target, buried beneath younger alluvium, in the Safford Mining District.

The Teague Springs property consists of 1,920 acres of claims located further west of Dos Pobres.  The target area is a large tonnage, buried Laramide porphyry copper-molybdenum-silver-gold system associated with a large, untested IP anomaly and a Mo-Cu-Zn biogeochemical anomaly.

Courtney Shearer, interim-CEO remarked, “We are very pleased to have completed satisfactory due diligence and we look forward to finalizing and signing the Share Exchange Agreement with the Vendor and proceeding to close the transaction.  CO USA now has the revised agreements with the surface landholders that provide long term access to explore the claims at Lone Mountain and the ability to buy the surface rights to the lands in the future.  With the exploration permits from New Mexico regulators, CO USA has the ability to drill up to 528 holes, which will fully explore the potential of this project.  Cornerstone will be evaluating and prioritizing our exploration strategy on all the projects as soon as we can and look to move forward on work at Lone Mountain, NM when the Share Exchange Agreement is finalized and the transaction closes.”

About Cornerstone Metals Inc.

Cornerstone currently owns 100% (subject to 1.5% NSR) of the 12,066 hectare Spences Bridge Gold Project near Merritt, BC.  The Spences Bridge project is an exploration project focused on gold in the Spences Bridge Gold Belt.

Cornerstone’s objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company’s management and board core competence is in exploration, permitting, development, construction, and operation of mining projects.

ON BEHALF OF CORNERSTONE METALS INC.
per:

Courtney Shearer
Interim CEO & President

For further information, please contact:

Courtney Shearer
Tel:  403-804-8636
Fax:  888-255-9604
Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

                                                                       

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Paul S. Cowley, P.Geo., director of the Company is the Qualified Person as defined in NI43-101, who has reviewed and approved the technical content of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.  These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.  In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control.  There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements.  Except as required by law, Cornerstone does not intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.

May 14, 2013 - Vancouver, British Columbia –Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone” or the “Company”) announces that further to its news release of March 21, 2013, it has signed amendments to its letter of intent (“LOI”) to acquire all of the shares of Copper One USA, Inc., pursuant to which:

- the Company agreed to issue to the vendor an additional 750,000 shares on closing in recognition of the existing financial assurances that are in place (totalling approximately US$250,000); and

- the date for paying the US$55,000 Lone Mountain property payment was extended from April 1, 2013 to May 15, 2013. The Company has made this payment.

The SW US copper projects are comprised of six separate properties in New Mexico and Arizona with the principal property being the Lone Mountain project in New Mexico.

Cornerstone’s objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company’s management and Board core competence is in exploration, permitting, development, construction, and operation of mining projects.

ON BEHALF OF CORNERSTONE METALS INC.

“Courtney Shearer”
Interim CEO & President

For further information, please contact:

Courtney Shearer
Tel: 403-804-8636
Fax: 888-255-9604
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone doe snot intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.

March 21, 2013 - Vancouver, British Columbia –Cornerstone Metals Inc. (TSX-V – CCC) (“Cornerstone” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOI”) to acquire all of the shares of Copper One USA Inc. (“CO USA”), a private company that holds 6 copper properties located in New Mexico and Arizona, with the principal property being Lone Mountain, NM. The LOI is subject to due diligence, which the Company will commence immediately, while it proceeds to finalize a definitive agreement to be executed upon completion of successful due diligence.

Pursuant to the terms of the LOI, the Company has agreed to issue to Copper One Inc. (TSX-V –CUO) (vendor) 1,500,000 shares on closing of the transaction. Additional consideration is tied to specific properties as follows:

(i) Lone Mountain, New Mexico: Within 30 days of a Definitive Feasibility Study, the Company will:

(a) issue 2,000,000 shares;
(b) pay $1,000,000 in cash or shares (at the vendor’s discretion); and
(c) grant to the vendor a 0.5% NSR capped at $5,000,000, which may be repurchased for $1,000,000, payable in cash or shares (at the vendor’s discretion)

(ii) West Jerome, Arizona: Within 30 days of a Definitive Feasibility Study, the Company will:

(a) issue 500,000 shares;
(b) pay $750,000 in cash or shares (at the vendor’s discretion); and
(c) grant to the vendor a 0.5% NSR capped at $4,000,000, which may be repurchased for $800,000, payable in cash or shares (at the vendor’s discretion)

(iii) Remaining 4 Arizona and New Mexico Properties: Within 30 days of a Definitive Feasibility Study, the Company will:

(a) issue 350,000 shares;
(b) pay $375,000 in cash or shares (at the vendor’s discretion); and
(c) grant to the vendor a 0.5% NSR capped at $3,000,000, which may be repurchased for $350,000, payable in cash or shares (at the vendor’s discretion)

The Company paid the vendor an exclusivity fee of $10,000 on execution of the LOI. The Company also agreed to pay the costs of updating the current NI43-101 report on the Lone Mountain property and, assuming successful due diligence results, on or before April 1, 2013, the Company will fund a property payment owing on the Lone Mountain property of $55,000.

The Twin Peaks property near Wickenburg, Arizona is a partially drilled, copper oxide deposit that has excellent infrastructure and potential for a large open-pit copper oxide body with very low strip ratio. A surface area measuring 750 metres by 520 metres exhibits veins, veinlets, and stockworks of chrysocolla and secondary malachite, tenorite, and cuprite and chalcocite hosted by a pyrite-poor Laramide-age quartz monzonite.

According to the US Geological Survey, the Safford District is the biggest undeveloped copper district in the world with multiple world-class porphyry copper deposits. The district is dominated by Freeport McMoRan mining operations. The West Safford and Teague Springs properties are two well-positioned projects in the district.

The West Safford property is 11km west from the producing Dos Pobres mine. It consists of approximately 2,860 acres of claims, and a 640-acre Arizona State Mineral Exploration lease. The target at West Safford is a large tonnage "Resolution-type" porphyry copper target, buried beneath younger alluvium, in the Safford Mining District.

The Teague Springs property consists of 1,920 acres of claims located further west of Dos Pobres. The target area is a large tonnage, buried Laramide porphyry copper-molybdenum-silver-gold system associated with a large, untested IP anomaly and a Mo-Cu-Zn biogeochemical anomaly.

Courtney Shearer, interim-CEO remarked, “We are very pleased to have the ability to acquire a regional group of copper projects in this portfolio. We will now have a predominantly copper-focused company and the clustering of these projects geographically and strategically will provide technical and logistical efficiencies to explore and develop these projects using our core competencies.”

About Cornerstone Metals Inc.

Cornerstone owns 100% (subject to 1.5% NSR) of the 12,066 hectare Spences Bridge Gold Project near Merritt, BC. The Spences Bridge project is an exploration project focused on gold in the Spences Bridge Gold Belt.

Cornerstone’s objective is to advance exploration / development stage copper and precious metals properties to production in the Americas. The Company’s Management and Board Core Competence is in exploration, permitting, development, construction, and operation of mining projects.

This transaction will be subject to standard closing conditions for a transaction of this nature, including but not limited to board and regulatory approvals, as well as shareholder approvals, if required.

The Lone Mountain property will become Cornerstone’s principal copper project in the United States. Located near Silver City, New Mexico, the Lone Mountain property is situated in a well-known mining district, 11 km southwest of the Santa Rita-Chino mine and 16 km northeast of the Tyrone mine; both of these mines are large open-pit copper operations owned by Freeport-McMoRan and both currently produce copper using the SX-EW technology.

Land holdings on the Lone Mountain property consist of two New Mexico State mineral leases and 40 unpatented federal mining claims, comprising 619.17 hectares (1,530 acres). Cornerstone will have an undivided 100% interest in the claims and leases. The Company will retain, through Copper One USA Inc, a State issued Level 4 exploration level permit for up to 176 drill sites and 3 holes per site.

The Lone Mountain property covers a large tonnage porphyry copper system with some 25,500 metres of historic drilling in 56 drill holes. It represents a broadly-explored, (drill hole spacing was approximately 250 metres) well-mineralized, porphyry-skarn system with multiple, stacked mineralized targets. Three distinct targets are present; a near-surface zone of copper oxide mineralization, underlain by a mixed copper oxide-chalcocite zone and finally a lower copper-zinc skarn zone. Copper oxide mineralization begins approximately 60 metres below surface and continues to over 250 meters below surface. The copper oxide and mixed oxide-chalcocite zones will be the primary focus for Cornerstone, with the aim to in-fill and justify an NI43-101 resource as quickly as possible.

The mineralization is open in three directions. Drilling in 2011 by Copper One intersected 135 meters of 0.36% copper on a portion of the property that had never been tested and extended the known western zone mineralization to the south, tripling its length.

The West Jerome property, near Jerome, Arizona, will be Cornerstone’s second priority, consisting of approximately five square kilometers of claims on the west side of Freeport McMoRan patented lands. The property, in a Volcanogenic Massive Sulfide camp, is a high-grade, massive sulfide target located 2.4 km south of the past-producing United Verde (32 million tons grading 4.4% copper, 1.5 oz/t silver and 0.04 oz/t gold). The West Jerome property has attractive untested TEM geophysical targets.

The Mimbres property consists of 45 unpatented lode claims and 2,040 acres of New Mexico State Mining Leases over a potential porphyry copper-molybdenum deposit and higher-grade copper-zinc-gold-silver-bearing skarns. It has a large airborne magnetic signature similar in size and magnitude to the neighboring Chino copper mine operated by Freeport McMoRan, 8 kilometres away.

ON BEHALF OF CORNERSTONE METALS INC.

per:

“Courtney Shearer”
Interim CEO & President

For further information, please contact:

Courtney Shearer
Tel: 403-804-8636
Fax: 888-255-9604
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Paul S. Cowley, P.Geo., director of the Company is the Qualified Person as defined in NI43-101, who has reviewed and approved the technical content of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, Cornerstone doe snot intend to revise or update these forward-looking statements after the date hereof or to revise them to reflect the occurrence of future unanticipated events.