Cornerstone Capital Resources Inc. announced the results of the Pre-Feasibility Study ("PFS") for the Cascabel copper- gold porphyry joint venture project in northern Ecuador in which Cornerstone has a 15% interest financed through to completion of a feasibility study and repayable out of Cornerstone's share of project earnings, plus 6.85% of the shares of joint venture partner and Project operator SolGold Plc ("SolGold"), for a total direct and indirect interest in Cascabel of 20.8%. The PFS confirms the Cascabel project's potential to be a large, low-cost, and long-life mining operation that is based. South American copper & gold mine benefiting from a high-grade core, advantageous infrastructure and an increasingly investor friendly government.

The mine is expected to produce a clean copper-gold-silver concentrate expected to be sold to Asian and European smelters. The PFS investigated multiple scenarios to identify an initial base case to take forward, with additional resources and upside to be investigated, supporting the next phase optimizations, and confirming the application of block cave mining to the Alpala underground resource. Attractive initial cave project, potentially delivering: Initial 26-year operating life and 25Mtpa process plant throughput.

Total ore production of 558Mt, containing 3.3Mt Cu, 9.4Moz Au and 30Moz Ag, Process plant producing 2.8Mt Cu, 7.6Moz Au and 21.7Moz Ag over the initial 26 year life of the project, Average annual production in five years following initial cave ramp up of 190ktpa Cu, 680kozpa Au and 1.3Mozpa Ag, Average annual production7 for initial cave of 132ktpa Cu, 358kozpa Au and 1.0Mozpa Ag, AISC of USD 0.06/lb Cu over the initial 26 year mine project, Estimated initial capital expenditure of USD 2.7bn for the initial cave development, first process plant module and infrastructure, Payback of 4.7 years from start of operations, After-tax NPV and IRR of USD 2.9 billion and 19.3%, respectively. An initial Mineral Reserve estimate for the Cascabel project of 558Mt, with 0.58% Cu, 0.52 g/t Au and 1.65 g/t Ag for 3.3Mt Cu, 9.4Moz Au and 30Moz Ag. Exploration success and future potential with unexplored areas identified for future drilling and extension of additional reported resources.

The PFS underpins the Mineral Reserve estimate and further optimizations of the mine and process plant are expected to deliver additional value.