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Re: News - Tuesday, September 30, 2008

08-27 - Ecuador approves new constitution, clears way for new

mining law

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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.

(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNFN) expects official confirmation of the approval of President Correa's constitution project within one to two weeks. Exit polls following the September 28 referendum showed overwhelming support in favour of the new constitution. Adoption of the new constitution will clear the path for enactment of Ecuador's new mining law by a congressional body which is expected to be sworn in by mid October. Various drafts of the new law have been circulating in the country for some weeks, but the official version, which requires approval by President Correa, has yet to be made public. Similarly, a new code of regulations to administer the act has yet to have public review.

Cornerstone anticipates the government will act quickly to establish the new rules for exploration and mining. President Correa has been a consistent advocate for responsible mining as an integral part of

Ecuador's economic development. The new legislative body, the

"congressillo" should be in place by mid October, and it appears that the government wants to deal with the new mining law on a priority basis. There is then a 60 day period in which to complete the new regulations, a schedule which may permit resumption of field activities early in 2009. Cornerstone will provide further updates as new information becomes available.

Cornerstone has maintained key staff in Ecuador during the mining moratorium and is well-positioned to re-activate exploration programs on its high potential Shyri project with partner Coastport Capital and the Macara project with its strategic partner, Newmont. Cornerstone also has excellent precious metal prospects on its 100%-owned Monterrey and Bella Maria properties.

About Cornerstone

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland & Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.