Cornerstone Capital Resources Inc (2) (C:CGP)
Shares Issued 83,648,129
Last Close 5/14/2010 $0.155
Monday May 17 2010 - News Release
Mr. Colin McKenzie reports
CORNERSTONE REPORTS SIGNIFICANT PROGRESS ON ECUADOR PERMITS
Cornerstone Capital Resources Inc. has been issued a number of key permits needed to restart exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
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