MOUNT PEARL, NL - Cornerstone Capital Resources Inc. and Intrepid

Mines Limited reported that they have completed and received all assay results for the Phase 1 diamond drilling program on the Gama prospect, located in the northwestern part of the Shyri property in southern Ecuador. Eleven holes totaling 3,153 metres were drilled between March 6th and July 17th. Drill

progress proved relatively slow owing to the rugged topography and wet conditions encountered during the annual rainy season. Assay results show a gold-enriched porphyry intersection grading 0.71 g/t Au over 45 metres in hole GAD-11-002.

The Gama prospect is one of three recognized thus far on the Shyri

property, and comprises an extensive zone of high sulphidation (HS) epithermal alteration measuring a minimum of 8.5 km by 3 km.  The alteration is strongly zoned and centered over two high level, porphyry-type intrusions at the 3500 m to 3800 m elevations. Gama is strategically located between the Quimsacocha 3.4 Moz HS epithermal gold deposit 15 km to the east and the Chaucha porphyry copper deposit (216 Mt at 0.4% Cu) 10 km to the west. Cornerstone and Intrepid approved an 11 hole, 2,900 metre diamond drilling program designed to test various targets defined on the basis of surface geochemistry (rock and soil samples), detailed geology, magnetics and 3-D interpretation of Induced Polarization (IP) geophysical data. The program is targeting both HS epithermal gold-silver and porphyry copper-molybdenum-gold mineralization over an area measuring approximately 3 km north-south by 2 km east-west.