Cornerstone Announces GRIT Securities Exchange Transaction

Cornerstone Metals Inc. (TSX VENTURE: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 GBP 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 GBP 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 GBP 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. 

Courtney Shearer, Interim CEO & President

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cornerstone Metals Inc.
Courtney Shearer
403-804-8636
888-255-9604 (FAX)
[e-mail]