Cornerstone Metals, Inc. (OTCQB:CCCCF) (TSX.V:CCC) Breaking News
June 20, 2018

Latest Metallurgical Test Results Exceed 95% Vanadium Extraction from Cornerstone Metals Inc.’s Carlin Vanadium Project

Vancouver, British Columbia --June 20, 2018 -- Cornerstone Metals, Inc. (OTCQB:CCCCF) (TSX.V:CCC) (“Cornerstone” or the “Company”) is pleased to announce additional preliminary results of metallurgical test work being conducted on its Carlin Vanadium Project in Nevada. The third round of testing has achieved vanadium extraction levels of 95.5%.

“Our testing has very quickly moved the needle from the low 80’s, which were strong, to outstanding numbers, far exceeding even our metallurgists’ expectations”, said Cornerstone President and Chief Executive Officer Paul Cowley. “These numbers show a clear sign of a major technical breakthrough for our project.”

Test work continues on a sample composite generated from an 18.9 metre drill core intercept from the Company’s recent diamond drilling verification program on the deposit. The latest results employed a roast/leach/pressure oxidation approach. Ongoing test work will continue to optimize various parameters with the aim of developing a conceptual flowsheet. Once a conceptual flowsheet has been defined, tests will be run across the deposit on a full range of samples. The tests to date have been conducted to demonstrate potential recoveries. At this stage, there is no suggestion that these tests demonstrate economic viability.

Metallurgical test work continues at Sherritt Technologies in Fort Saskatchewan, Alberta, the leader in the development and commercialization of pressure hydrometallurgical processes. Sherritt is a one-stop shop that has a proven track record of developing projects from concept-to-operation with a skilled and experienced team, including process and equipment specialists.

The Carlin Vanadium deposit is considered one of the largest, highest grade primary vanadium deposits in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States—Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

Vanadium’s Growing Importance for Steel Manufacturing and the Energy Sector
Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 85 percent of the world’s vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 10 percent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas. Vanadium pentoxide flake prices have risen over the last 2.5 years from under US$3/lb to US$15.70/lb today.

About Cornerstone Metals Inc.
Cornerstone Metals has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County 22km by road (14 miles) from the town of Carlin, Nevada. The project is comprised of 72 contiguous unpatented mineral claims totaling 461 hectares (1,140 acres). The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, commonly between 0-60m (0-200 ft) below surface.

ON BEHALF OF CORNERSTONE METALS INC.
per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@cornerstonemetals.ca
Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

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

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company’s ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to current and planned drill programs, the results of exploration programs, metallurgical test work, and changes in mineral resources. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

SOURCE Cornerstone Metals, Inc.

 

Preliminary Metallurgical Tests Result in over 80% Vanadium Extraction from Cornerstone Metals Inc.'s Carlin Vanadium Project

Vancouver, British Columbia --May 29, 2018 -- Cornerstone Metals, Inc. (OTCQB:CCCCF) (TSX.V:CCC) (“Cornerstone” or the “Company”) is pleased to announce preliminary results of metallurgical test work being conducted on its Carlin Vanadium Project in Nevada. The initial pressure leaching tests have achieved vanadium extraction levels of between 80.2% and 83.6%.

"The Company is thrilled with these preliminary results, which signal a major technical breakthrough for this project", said Cornerstone President and Chief Executive Officer Paul Cowley, "guided by expertise of Cornerstone's metallurgists and Sherritt Technologies, an industry recognized engineering and research group with their in-house lab. Regardless of these positive results, we are continuing test work to improve upon the overall vanadium extraction from the current 80.2% to 83.6% to higher values."

Test work is being conducted on a sample composite generated from an 18.9 metre drill core intercept from the Company's recent diamond drilling verification program. Metallurgical test work will continue with the aim of developing a conceptual flowsheet.

Metallurgical test work is being conducted by Sherritt Technologies in Fort Saskatchewan, Alberta, the leader in the development and commercialization of pressure hydrometallurgical processes. Sherritt is a one-stop shop that has a proven track record of developing projects from concept-to-operation with a skilled and experienced team, including process and equipment specialists.

The Carlin Vanadium deposit is considered one of the largest, highest grade primary vanadium deposits in North America (USGS Professional Paper 1802 Critical Mineral Resources of the United States-Economic and Environmental Geology and Prospects for Future Supply dated December 18, 2017).

Vanadium 's Growing Importance for Steel Manufacturing and the Energy Sector

Vanadium is growing in importance for key industrial manufacturing sectors most notably steel and renewable energy. Today, more than 85 percent of the world's vanadium is used in steel manufacturing applications. Its importance to the energy sector is also growing rapidly with more than 10 percent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas. Vanadium pentoxide flake prices have risen over the last 2.5 years from under US$3/lb to US$13.90/lb today.

About Cornerstone Metals Inc.

Cornerstone Metals has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko County 22km by road (14 miles) from the town of Carlin, Nevada. The project is comprised of 72 contiguous unpatented mineral claims totaling 461 hectares (1,140 acres). The Carlin Vanadium Project hosts the Carlin Vanadium Deposit which is flat to shallow dipping and at shallow depths, commonly between 0-60m (0-200 ft) below surface.

ON BEHALF OF CORNERSTONE METALS INC.

per: "Paul Cowley"
CEO & President
(604) 340-7711
pcowley@cornerstonemetals.ca

Technical disclosure in this news release has been reviewed and approved by Paul Cowley, P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of the Company.

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

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include the Company's ability to meet the conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to current and planned drill programs, the results of exploration programs, metallurgical test work, and changes in mineral resources. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

SOURCE Cornerstone Metals, Inc.

 

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About Cornerstone Metals, Inc.:

Cornerstone’s Carlin Vanadium Project Contains One of North America’s Largest Richest Primary Vanadium Deposits, located in Nevada (Source: USGC Professional Paper 1802)

Its West Jerome Project Targets a Large Scale High Grade Copper and Zinc Deposit in Arizona​

Advancing its intermediate-stage Vanadium Project During a Steady Vanadium Metal Price Boom​​

The Company’s Deep Board, Management and Technical Team’s Core Competence is in Exploration, Permitting, Development, Construction, and Operation of Mining Projects in the USA, Canada and Overseas​

Why Vanadium

A Highly Sought, Strategic Mineral Critical to Industries Ranging from Steel to Utility Scale Battery Storage Technology

The Mineral of Choice for Next Generation Battery Storage Technology and Renewable Energy Applications

Vanadium's Advantages:

Used in Steel Manufacturing to Add Strength and Corrosion Resistance
One Third the Cost of Lithium Energy Storage and Batteries
Can Rapidly Release Large Amounts of Electricity
Great for Industrial Applications, Highly Scalable for Manufacturing
Vanadium Electrolyte is Reusable, Recyclable, and has a Battery Lifespan of 25+ Years
Non Flammable and Extremely Safe
Used in Power Grids to Substantially Improve Power Management

Carlin Vanadium Property Description and Ownership

The Carlin Vanadium Property consists of 72 unpatented mining claims covering 1,140 acres located in North-Central Nevada in Elko County, seven air miles south of Carlin. The property has exceptional infrastructural advantages. The property is road accessible from Carlin and Elko. Carlin is a major rail hub to both coasts. Power is <3 miles from the property. The property was explored and drilled by Union Carbide Corporation (UCC) in the late 1960’s resulting in a defined vanadium resource.

The claims are owned by Golden Predator US Holding Corp. (GPUS). America’s Gold Exploration Inc. (AGEI), holds an option to acquire 100% of the Carlin Vanadium Project from GPUS which has now been assigned to Cornerstone through a definitive Assignment Agreement with AGEI. The terms for Cornerstone to earn 100% are present in its News Release of November 9, 2017.

Geology and Mineralization

The Carlin Vanadium Property is located on the western flank of the Piñon Range, a block faulted horst of the basin and range tectonic province. The local lithologies are predominantly Paleozoic age, western assemblage, siliceous rocks transported above the Roberts Mountain Thrust. The vanadium mineralized zone is a stratigraphic sub-unit within the Woodruff Formation shale hosting elevated concentrations of vanadium in the form of vanadium pentoxide (V2O5). Drilling indicates a vanadium zone or deposit approximately 55m (180 feet) thick striking north-south over 1,860m (6,100ft) in length and dipping 5°-30° west averaging 760m (2,500ft) of down dip extent from surface. The mineralized unit is locally exposed on surface where it cuts topography but mostly is found at shallow depths, commonly between 15-60m (50-200 ft) below surface.

The vanadium-rich unit has grades commonly between 0.3% and 0.8% V2O5 but can reach as high as 3.1% V2O5. Limited sampling of the Vanadium-rich unit has also shown elevations in silver and zinc.

Exploration

All of the exploration and development on the project has been completed by previous owners. UCC began exploration in September of 1966 and continuing into the next two years. The work included; surface mapping, trenching and sampling was conducted accompanied by auger and rotary drilling. At least, 152 rotary drillholes were completed by the end of 1967 in the area, 125 holes on Cornerstone's property. This figure shows the location and density of the vertical drilling by UCC. Drill hole centers are approximately 60m apart defining the vanadium deposit.

2010 Historic Resource Estimation

In 2010 an NI 43-101 compliant resource estimation was made on the Carlin Vanadium deposit by Dr. Bart Stryhas of SRK for Energy Metal Corp. (EMC). The technical steps and components of the study can be found in Cornerstone’s Technical Report, History Section.

The results of the 2010 resource estimation provided a CIM classified Inferred Mineral Resource as shown in Table 1-1 below at a Cut-off grade CoG of 0.3% V2O5. The quality of the historical data was good and the Mineral Resource was classified as inferred mainly due to the fact that the rotary drilling has not been verified by a modern program. This figure shows the Plan View of the 2010 Historic Resource Estimate Block Model.

West Jerome, Arizona

The West Jerome property consists of approximately five square kilometers of claims on the west side of Freeport McMoran patented lands. The property - a Volcanogenic Sulfide camp - is a high-grade, massive sulfide target located 2.4 km south of the past-producing United Verde Mine (33 million tons of 4.36% Cu, 1.53 opt Ag and 0.042 opt Au; 2.9 Billion lbs of copper). The Company may not obtain similar results from its West Jerome property.

The West Jerome Property has excellent geological and geophysical support for a large Volcanogenic massive sulfide target. The property has two favourable stratigraphic horizons traced from the United Verde mine onto West Jerome. Both surface exposures and limited drilling have identified strong chloritic alteration typical on a VMS feeder pipe on West Jerome. Furthermore, geophysical surveys (electromagnetic) on West Jerome have identified 2 strong anomalies (red on the figure below) coincident with the favourable stratigraphic horizons and chlorite alteration (feeder pipe). The pink dots and legs on the figure below are the planned drilling to test these coincident anomalies.

Lowell Copper conducted 2 gravity surveys by Zonge International Inc. (“Zonge”) over the Project, which generated two anomalies, one being open-ended. Zonge recommended further work to better define the open-ended anomaly, however due to market conditions and other priorities, Lowell Copper has preferred not to proceed further with the Project. As a result, Cornerstone retains a 100% interest in the Project, now supported by gravity anomalies.

Management

Paul Cowley, P. Geo.
President & CEO, Director
paulFor over thirty-seven years, Mr. Cowley, P.Geo. has held technical and managerial positions exploring for gold, base metals, diamonds, industrial minerals and coal worldwide. He has extensive experience in a major company setting based in Canada and South America (18 years with BHP Minerals). Projects include the Escondida world-class copper mine in Chile, Country Manager for Bolivia, and the Ekati diamond mine and the Slave gold project in the Canadian arctic. As manager of the Slave Gold Project, his team discovered and advanced 4 significant gold deposits amounting to over 6 million ounces of gold; the high grade Doris mine of TMAC Resources is now in production in the Hope Bay greenstone belt. Mr. Cowley also has extensive involvement in junior mining companies at President/CEO, VP Exploration, consultant and directorship levels. Mr. Cowley was instrumental in putting the Lexington-Grenoble gold-copper mine in BC into production, in doubling the resource at the polymetallic and precious metal J&L deposit in BC and adding resources at the Wolverine VMS deposit in the Yukon. Mr. Cowley has experience in permitting projects from exploration to production as well as consulting and successfully negotiating an Impacts and Benefits Agreement with Canadian First Nation. He has spent an aggregate of 4 years in Latin America in Chile, Peru, Bolivia, Mexico and Columbia (living 3 years in Chile and Bolivia). Mr. Cowley is a Professional Geologist, P.Geo. through APEGBC. He is currently also serving as President, CEO and director of Indigo Exploration Inc. Mr. Cowley is the Qualified Person for Cornerstone Metals Inc.

Rebecca Moriarty, B.Sc., CA
CFO
rebeccaMMs. Moriarty earned her B.Sc. (Geology) from Queens University. She achieved her Chartered Accountant designation in 2002. During an eleven year period with PwC, she worked exclusively with resource companies. Since 2011, she has worked as a Senior Consultant with Malaspina Consultants Inc., continuing to work with resource companies, including Cornerstone.

Thomas R. Kilbey, B.Sc., M.S.
Vice President Exploration
thomasKMr. Kilbey has over 27 years of grassroots exploration, property evaluation, and mine/project development experience all over the United States and parts of Mexico. He has worked for majors (Amax, Cyprus, Newcrest, AngloGold) and juniors (Copper One, Romarco). Much of his major company experience includes developing and prospecting sediment hosted, skarn, porphyry gold and copper deposits along with epithermal gold vein systems and bulk mineable gold-silver resources. Tom is a Qualified Person and a C.P.G. with the American Institute of Professional Geologists.

Fred Sveinson, P.Eng.
Director
fredMr. Sveinson is a professional mining engineer with more than 45 years’ experience in Canada and internationally in the exploration, development, construction, operation and financing of mineral projects. His experience includes the development and operation of underground mines from 100tpd to 2000tpd in Zambia, USA, Venezuela and Canada including the Arctic. He has been involved in projects with major logistics challenges including construction and operation in remote areas requiring fly-in, fly-out camps with access via long winter roads and by air. Mr. Sveinson has been involved with negotiating Impacts and Benefits agreements with First Nations and training of aboriginals. He has held senior positions with major consulting firms and contractors such as SNC Lavalin Inc. and Dynatec Corp. Fred has been an entrepreneur and founder of several junior companies which have re-started Brownfield’s sites or developed new mining operations. Mr. Sveinson is currently working as a Senior Mining Advisor / Consultant via his wholly owned company, International Mine Builders Inc. where he is currently leading the resurrection of the historic Bralorne underground gold mine owned by Avino Silver and Gold Mines in British Columbia. He is also on the board of junior exploration companies, Tirex Resources Ltd. and Cornerstone Metals Inc. Mr. Sveinson is a graduate of the University of Saskatchewan in 1970 with a Bachelor of Science in Mining Engineering. He is also a graduate of the University of Waterloo with a Bachelor of Arts in General Economics in 1985.

John Anderson, B.A.
Director
John Anderson photo finalMr. Anderson holds a B.A. from the University of Western Ontario and is the co-founder of Aquastone Capital Advisors LP, a U.S.-based gold investment fund. With over 15 years’ experience in the capital markets, Mr. Anderson’s specialty is identifying undervalued opportunities in the resource industry and investing capital into these situations. He has been involved in a number of small-cap companies, providing financing, investor relations, and corporate development services. Throughout his career, he has raised in excess of $500 million in equity for a number of public and private companies in the United States, Canada and Europe.

Dr. Radomir Vukcevic, PhD
Director
Rad photo finalDr. Vukcevic received his PhD in Metallurgy from the University of Clausthal, West Germany and taught for more than 20 years as Associate Professor in Metallurgy at RMIT, Melbourne and Witwatersrand University, Johannesburg and a Professor of Metallurgy at University of Western Australia, Perth, published several books on metallurgy and holds several industrial patents for mining-related technologies. Following his teaching career, Dr. Vukcevic spent over 35 years in real-world engineering experiences by providing technological, technical and equipment solutions to mining companies globally. He was in Senior Management of Alcoa AWA in Melbourne, Perth, and Pittsburgh for 14 years and Anaconda (Anglo American/ Glencore) for 3 years. He was CEO/Principal, Mineral Processing and Marketing, Australia Ltd. providing technological solutions for mining and metallurgical companies such as BHP Billiton, Jinchuan Group (China), Heron Resources (Kalgoorlie, Western Australia), Moneo Metals (New Caledonia) and Acclaim Resources (Western Australia). His experience with vanadium is significant.

SOURCE: http://www.cornerstonemetals.ca/

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