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CCC Cornerstone Metals (delisted)

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Share Name Share Symbol Market Type
Cornerstone Metals (delisted) TSXV:CCC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Cornerstone Metals Inc. Clarifies Technical Disclosure

20/01/2014 4:42pm

Marketwired Canada


Cornerstone Metals Inc. (TSX VENTURE:CCC) ("Cornerstone" or the "Company")
reports that, as a result of a review by the British Columbia Securities
Commission (the "BCSC"), the Company is issuing the following news release to
clarify certain technical disclosure.


Certain of the Company's disclosure contained in its Corporate Presentation and
as posted on the Company's website included certain disclosures non-compliant
with National Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101"). The Company has now taken the following actions to clarify these
non-compliant disclosures:




--  The Company has shut down its website and is in the process of amending
    the website relating to the Company's disclosure 
--  The Company's website previously contained non-compliant disclosure
    which has been retracted and deleted, the specifics of which are set out
    below. The non-compliant disclosure should not be relied upon. 
--  In those instances where the Company has clarified or revised previous
    disclosure, the Company advises readers not to rely on such previous
    statements as they may continue to be found in the public domain. 



Non-Compliant Exploration Targets

Lone Mountain Project, New Mexico

On the Company's website project disclosure for its Lone Mountain project and on
slides 9 and 21 of its Corporate Presentation dated December 9, 2013, the
Company has disclosed an exploration target for the Lone Mountain property,
which is restricted by NI 43-101 section 2.3(1)(a) because it does not include
the information and cautionary language required by section 2.3(2) of NI 43-101.



Accordingly, investors are cautioned that the exploration target at the
Company's Lone Mountain project in New Mexico is conceptual in nature. The
Potential Estimate for the leachable copper zone at Lone Mountain has a range
between 110 and 160 million tonnes at between 0.20% and 0.29% copper. The
estimate was based on all drill data (43 holes, 100-250m spacing), modeled in 3D
for the near surface leachable copper zone and applied simple weighted averages
of assays within modeled solids. The quoted figures are reported as an
exploration target. The potential quantities and grades are conceptual in
nature. There has been insufficient exploration to define a mineral resource and
it is uncertain if further exploration will result in the target being
delineated as a mineral resource. The Company has updated its website material
and its Corporate Presentation to include this information and cautionary
language required by NI 43-101.


Twin Peaks Project, Arizona

On slide 9 of the Company's December 9, 2013 Corporate Presentation, the Company
has disclosed an "exploration target" for the Twin Peaks property, which is
restricted by NI 43-101 section 2.3(1)(a) because it does not include the
information and cautionary language required by section 2.3 (2) of NI 43-101.
The Company was in error and has deleted references to the exploration potential
for the Twin Peaks property from its Corporate Presentation. The Company does
not have an "exploration target" on Twin Peaks as defined by NI 43-101. Readers
should not rely on the retracted statement because there is inadequate drilling
and drill density at this time.


Selective Disclosure of Highest Values

On slides 9 and 16 of its December 9, 2013 Corporate Presentation, the Company
disclosed previous exploration results for its Mimbres Project in New Mexico, by
reporting only the highest or best values and used an "up to" basis for
reporting values. This type of disclosure is not balanced or complete and may be
misleading if high values are from selected samples or outliers. The Company has
updated its Corporate Presentation to disclose a range of all available
exploration results "from 15.2m @ 0.4% Cu to 43m @1% Cu" for the Mimbres
Project. 


Qualified Person

On the Company's Website, December 9, 2013 Corporation Presentation, and
Corporate Overview, the Company did not identify and disclose the relationship
to the Company of the qualified person who prepared or supervised the
preparation of, or approved of the technical information disclosed, as required
by NI 43-101 Section 3.1.


All technical disclosure information included in such disclosures was prepared
under the supervision of Paul Cowley, P.Geo., President and CEO of the Company,
a qualified person consistent with NI 43-101. The Company has updated its
Website and Corporation Presentation. The downloadable Corporate Overview has
been removed in its entirety from the Company's website. 


On Behalf of Cornerstone Metals Inc.

Paul Cowley, President and CEO

Paul Cowley, P. Geo., President & CEO of the Company, is the Qualified Person
under NI 43-101 who has reviewed and approved the technical content of this news
release.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cornerstone Metals Inc.
Paul Cowley
604-340-7711
pcowley@cornerstonemetals.ca
www.cornerstonemetals.ca

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