Cornerstone Metals Announces Closing of First Tranche of Private Placement

Cornerstone Metals Inc. the "Corporation") (TSX VENTURE:CCC) is pleased to
announce that further to its press releases dated October 15, 2012 and October
25, 2012, it has completed the first tranche of its non-brokered private
placement (the "Private Placement"). 


Pursuant to the first tranche of the Private Placement, the Corporation issued
897,000 units ("Units") of the Corporation at a purchase price of $0.125 per
Unit for gross proceeds of $112,125. Each Unit consists of one (1) common share
in the capital of the Corporation ("Common Share") and one (1) Common Share
purchase warrant of the Corporation ("Warrant"). Each Warrant entitles the
holder to purchase one (1) Common Share at a purchase price of $0.20 per Common
Share exercisable on or before May 19, 2014. The Common Shares and any
securities issued upon the exercise of the Warrants are subject to a hold period
which expires on March 20, 2013. 


The second tranche will be up to 1,103,000 Units for a total offering of up to
2,000,000 Units. The second tranche is anticipated to close on or around
November 26, 2012. Finder's Fees may be paid in connection with the second
tranche. The second tranche of the Private Placement is subject to final
approval by the TSX Venture Exchange (the "Exchange"). 


The Corporation intends to use the net proceeds of the entire Private Placement
for general working capital. 


About Cornerstone Metals 

The Corporation is a mining exploration company headquartered in Canada. It owns
the Dora Gold Project near Merritt, British Columbia and is seeking
advanced-stage exploration projects, early stage development/ production
projects or old mines to rehabilitate and put back in to production. It is
pursuing precious metals or polymetallic deposits or mines in the Americas.
Management/board experience includes exploration, permitting, development and
production of open pit and underground hard rock mines. 


On Behalf of the Corporation 

Courtney Shearer - interim - CEO and President 

Forward-Looking Statements

This press release contains forward-looking statements. All statements, other
than statements of historical fact, constitute "forward-looking statements" and
include any information that addresses activities, events or developments that
the Corporation believes, expects or anticipates will or may occur in the future
including the Corporation's strategy, planned drill program or future financial
or operating performance and other statements that express management's
expectations or estimates of future performance. 


Forward-looking statements are generally identifiable by the use of the words
"may", "will", "should", "continue", "expect", "anticipate", "estimate",
"believe", "intend", "plan" or "project" or the negative of these words or other
variations on these words or comparable terminology. All such forward-looking
information and statements are based on certain assumptions and analyses made by
the Corporation's management in light of their experience and perception of
historical trends, current conditions and expected future developments, as well
as other factors management believes are appropriate in the circumstances. These
statements, however, are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, performance
or achievements of the Corporation to be materially different from those
expressed, implied by or projected in the forward-looking information or
statements. Important factors that could cause actual results to differ from
these forward-looking statements include but are not limited to: risks related
to the exploration and potential development of the Corporation's projects,
risks related to international operations, the actual results of exploration
activities, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of gold, as well as those factors
discussed in the sections relating to risk factors of the Corporation set out in
the Corporation's MD&A filed on SEDAR.

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, the reader should not place any
undue reliance on forward-looking information or statements. Except as required
by law, the Corporation does not intend to revise or update these
forward-looking statements after the date of this document or to revise them to
reflect the occurrence of future unanticipated events.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cornerstone Metals Inc.
Courtney Shearer
Interim - CEO and President
[phone]
[phone] (FAX)
[e-mail]
www.cornerstonemetals.ca