Cornerstone and Solomon Gold Sign Letter of Intent for the Cascabel Gold-Copper-Silver Property, Ecuador

Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP)
(FRANKFURT:GWN) (BERLIN:GWN) (OTCBB:CTNXF) and Solomon Gold Plc ("Solomon Gold")
(AIM code: SOLG) announce that they have signed a binding letter of intent (LOI)
outlining the terms of an option/joint venture arrangement for Cornerstone's
100% owned 5,000 hectare Cascabel gold-copper-silver property in northern
Ecuador. Cascabel is one of two new high potential projects acquired by
Cornerstone in Ecuador during 2011. 


Under the terms of the LOI, Solomon Gold has the ability to earn an initial 65%
interest in the Cascabel property by: 




1.  making an initial CAD$200,000 private placement in Cornerstone common
    shares based on the TSXV 30 day volume weighted average price ("VWAP")
    within 30 days of the execution of a definitive option agreement
    embodying the terms of the LOI; 
2.  spending US$7.8 million over 4 years (including US$800,000 in the first
    year if drilling commences); 
3.  within 60 days of the commencement of drilling on Cascabel, making a
    private placement in Cornerstone shares of CAD$150,000 and issuing
    Solomon Gold ordinary (i.e., common) shares to Cornerstone with a value
    equal to CAD$150,000 (both based on 30 day VWAP); and 
4.  making a final private placement in shares of Cornerstone of CAD$500,000
    priced at 30 day VWAP plus 20% on or before the 4th anniversary of the
    execution of the definitive option agreement.



All private placements shall be subject to Exchange approval, and proceeds of
all private placements will be used for general corporate purposes. 


Prior to Solomon Gold earning its initial 65% interest, Cornerstone will be the
operator of the property on a cost plus 10% basis, and Solomon Gold will direct
the technical program.


Following Solomon Gold's earning of its initial 65% interest, Cornerstone and
Solomon Gold will enter into a joint venture and will fund their respective
proportionate shares of ongoing expenditures and be subject to dilution
according to a standard formula. After the entering into of the joint venture,
Solomon Gold will have the option for one year to elect to earn an additional
20% interest in Cascabel by funding exploration towards the completion of a
National Instrument 43-101 ("NI 43-101") bankable feasibility study ("BFS")
within 18 months of making such election. The cost to Solomon Gold of the BFS is
capped at US$20 million, after which the parties will contribute on a pro-rata
basis. If Solomon Gold timeously exercises its right to earn the additional 20%
interest, then any amounts spent by Cornerstone prior to that exercise and post
Solomon Gold earning its initial 65% interest will be reimbursed to Cornerstone
by Solomon Gold at 200% of expenditures incurred. Within 90 days of completion
of the BFS, subject to Exchange approval, Solomon Gold shall issue to
Cornerstone, at no cost to Cornerstone, ordinary (common) shares of Solomon Gold
equal to 2% of the ordinary (common) shares of Solomon Gold then issued and
outstanding. If Cornerstone fails to fund its proportionate share of ongoing
expenditures and its interest is diluted below 10%, such interest will be
converted to a 1% assignable Net Smelter Return ("NSR") on the property. Solomon
Gold may purchase the NSR from Cornerstone on the following terms: Half of the
NSR for US$1.5 million within 90 days following completion of the BFS; and the
remaining half of the NSR for US$2.0 million within 90 days following a
production decision. 


"We are very pleased to have Solomon Gold as our partner on the Cascabel
project, their technical team brings solid expertise gained in similar
geological environments, and both companies have complementary skills that will
benefit the project," said Brooke Macdonald, Cornerstone's President & CEO.
"This partnership highlights Cornerstone's project generator business model -
finding and acquiring high potential properties, and then securing a cost and
risk sharing partnership with a value-added partner such as Solomon, and in the
case of Cascabel doing so within one year of property acquisition."


Malcolm Norris, CEO of Solomon, said, "This is an exciting time for Solomon
Gold. The Cascabel property demonstrates all the features that we would like to
see in an early stage gold-copper porphyry project, and to partner with a highly
respected company such as Cornerstone enhances the probability of success. We
will commence field work in May and move the project towards the drilling stage
as soon as possible."


About Cascabel

The Cascabel property is located approximately 120 km north of Quito and 20 km
south of the Colombian border. Access is very good via a paved road from the
provincial capital city of Ibarra to San Lorenzo city, on the Pacific coast, and
secondary gravel roads to the central part of the 50 km2 property. An
environmental license for the initial exploration phase was granted by the
Ministry of Environment on July 12, 2011. Exploration work including geology,
geochemistry, geophysics and hand-dug trenching and pitting, is allowed for a
4-year period under this environmental license. Cornerstone has complied with
all regulations on this project and no further authorization is necessary to
initiate field work. 


Maps showing the geology and exploration results to date may be viewed at
www.cornerstoneresources.com. Highlights of assay results for the 179 rock
samples (grabs and representative rock chips) announced on September 13, 2011
show that precious and base metals are anomalous over most of the property area:




============================================================================
                         greater than greater than                Average of
Gold                          0.1 g/t      0.5 g/t   Max. value   all values
                        ----------------------------------------------------
                           93 samples   26 samples                          
                                (52%)        (14%)     5.93 g/t     0.32 g/t
============================================================================
                         greater than greater than                Average of
Silver                        5.0 g/t     30.0 g/t   Max. value   all values
                        ----------------------------------------------------
                           43 samples   10 samples                          
                                (24%)         (5%)    150.0 g/t     7.25 g/t
============================================================================
                         greater than greater than                Average of
Copper                          0.01%         0.1%   Max. value   all values
                        ----------------------------------------------------
                          144 samples   36 samples                          
                                (80%)        (20%)        3.23%        0.13%
============================================================================



Free gold has been identified by panning in most of the streams of the area (49
pan concentrates out of 64 show the presence of gold) with higher amounts of
gold grains (10-30) concentrated in the headwaters of the Rio Parambas, Rio
Cachaco and Rio Cristal. Some of the streams have not yet been surveyed and/or
followed up.


Regional geology and mineralization 

The Cascabel area is underlain by Upper Cretaceous sedimentary rocks which are
overlain by Oligocene to Miocene andesitic flows and breccias. These units are
intruded by Miocene age batholiths and stocks of granodiorite and diorite. Major
regional tectonic structures in the area strike northeast. One such structure,
the Apuela regional fault, transects the southeast part of the Cascabel
property. Several mineral prospects which are hosted in the same geological
belt, have been identified in the Cascabel district including the Chical (Au-Ag)
and Rio Amarillo (Au-Ag-Cu) epithermal prospects located 12 km to the northwest
and 12 km to the south of the property respectively. Cascabel is located
upstream from an extensive alluvial gold district, Playa de Oro, located 50 km
to the west. The Junin porphyry copper-molybdenum deposit (undeveloped NI 43-101
compliant inferred resource of 982 Mt @ 0.89% Cu, 0.04% Mo and 1.9 g/t Ag) lies
65 km to the southwest.


Qualified Person

Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador SA and a qualified
person in accordance with National Instrument 43-101, is responsible for the
Cascabel exploration program and has reviewed and approved the technical
information contained in this news release.


About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company based in
Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of
projects in Canada, Ecuador and Chile, and a strong technical team that has
proven its ability to identify, acquire and advance properties of merit. The
company's business model is based on generating exploration projects whose
subsequent development is funded primarily through joint venture partnerships.
Commitments from JV partners constitute significant validation of the strength
of Cornerstone's projects. 


The link to a recent Corporate presentation is:

http://www.cornerstoneresources.com/i/pdf/Presentations_0412_CRICorporate.pdf 

Investors can also access Cornerstone on Twitter

About Solomon Gold

Solomon Gold's exploration projects are located in Queensland, Australia and the
Solomon Islands. In Australia, they comprise the Rannes, Mt Perry, Cracow West
and Normanby Projects. In the Solomon Islands they comprise the Fauro Project
(located on Fauro Island), and the Guadalcanal Joint Venture with Newmont Mining
Corporation.


At the Rannes project Solomon Gold has announced Inferred resources of 25.5
million tonnes at 1.0 g/t gold equivalent (gold + silver) for 812,000 ounces of
gold equivalent (486,935 ounces of gold and 13,014,294 ounces of silver; see
announcement dated 30 November 2011 for details of the resource statement and
gold equivalent ratios). The 2012 exploration program, including drilling to
define new ore positions and grow the resource, has commenced. 


Exploration continues at Mt. Perry, Normanby and Cracow West with drilling
expected to commence in Q2 2012. 


In the Solomon Islands, final data from the 2011 exploration program on the
Fauro project has been reviewed and plans for 2012 are being prepared. The 2012
Guadalcanal Joint Venture exploration program with NVL Solomon Islands Limited
(a subsidiary of NYSE-listed Newmont Mining Corporation) has commenced with
drilling on highly prospective gold-copper porphyry targets expected to resume
in April 2012.


Solomon Gold's strategy is to be an integrated gold and copper explorer,
developer and miner.


Solomon Gold's Board includes accomplished professionals with strong track
records in the areas of exploration, mine development in Australasia and
Melanesia, investment, finance and law. Board and Management have significantly
vested interests in the Company holding approximately 16.3% of its issued share
capital.


Solomon Gold is based in Brisbane, Queensland, Australia. The Company listed on
London's Alternative Investment Market in 2006, under the AIM Code 'SOLG' and
currently has 313,381,934 shares on issue and 11,264,000 options exercisable at
50p on issue. Further details concerning the Company's key projects and
personnel can be found at www.solomongold.com.


Cautionary Notice:

This news release may contain 'Forward-Looking Statements' that involve risks
and uncertainties, such as statements of Cornerstone's plans, objectives,
strategies, intentions and expectations. The words "potential," "anticipate,"
"forecast," "believe," "estimate," "expect," "may," "project," "plan," 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 subsequent to 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