Cornerstone Metals Clarifies Disclosure on its Carlin Vanadium Project
Cornerstone Metals Clarifies Disclosure on its Carlin Vanadium Project
March 1, 2018 - Vancouver, British Columbia – Cornerstone Metals Inc. (TSX‐V: CCC) (OTCQB: CCCCF)
(FSE: 1PY) (“Cornerstone” or the “ Company”) at the request of IIROC, wishes to clarify its disclosure
regarding the historic resource on the project. The historic In ferred mineral resource quoted in its news
release of February 28, 2018 of 28 million tons at 0.515% vanad ium pentoxide (V2O5), having a total
metal content of 289 million pounds V2O5, based on a 0.3% V2O5 cut-off grade (“CoG”), was calculated
by SRK in 2010, based on drilling completed by Union Carbide in the late 1960s.
In 2010 a resource estimation was made by Dr. Bart Stryhas for Energy Metal Corp (EMC). Dr. Stryhas
was independent of EMC. Dr. Bart Stryhas constructed the geolog ic and resource model supported by
information from the 152 rotary drillholes totaling 36,525 ft. The drillholes are generally oriented along
sections at azimuth 70° or 90°and are all oriented vertical. Th e drillhole depths range from 20 ft to 500 ft
with an average of 240 ft. The drillhole database was compiled by EMC and verified by SRK. The 2010
resource estimation was based on a generalized geologic model a nd confined within a V2O5 grade shell.
The geological model assumed that the mineralization was strati graphically controlled, following the strike
and dip of the host lithology, d efining a zone of mineralizatio n striking north-south over 6,100 ft of length
and dipping 5°to 30° west averaging 2,500 ft of downdip extent. E a c h m o d e l b l o c k w a s a s s i g n e d a n
average density of 2.34 (g/cm3) based on the lithologies present.
The 0.3% V2O5 CoG was chosen in 2010 for resource reporting bas ed on the reasonable potential for
economic extraction under a concep tual open pit mining and mill ing scenario. The CoG was calculated
using US$2.30/st mining cost, US$35/st milling cost, US$0.50/st admin cost, 65% recovery, 95% selling
pay-for, 1% freight charge, 0% royalty and a US$10.46/lb V2O5 v alue. The results reported in the historic
resource statement are rounded to reflect the approximation of grade and quantity, which can be achieved
at this level of resource estimation.
Drillhole samples were composited into 25 ft bench lengths with out breaks at geologic contacts. The raw
V2O5 assays were capped at 2.2% prior to compositing. The model blocks were 50 ft x 50 ft x 25 ft in the
x,y,z directions, respectively. V2O5 grades were estimated usin g an Inverse Weighting to the second
power. A minimum of three and maximum of 12 composites were required for the block grade estimations.
The results of the resource estimation provided a CIM classifie d Inferred Mineral Resource. The quality of
the historical data was good and the Mineral Resource was class ified as inferred mainly due to the fact that
the rotary drilling has not been verified by a modern program.
A current mineral resource has not been delineated on the prope rty. The Company is not treating this
historical estimate as a current mineral resource. The work nee ded to upgrade the historical estimate as
current mineral resources is to use current costs and metal pri ces and include the results from the
Company’s verification drilling.
As no current mineral resource has been delineated on the prope rty the Company wishes to retract the
statement: “there is excellent potential to expand the deposit.”
The source document to support the Company’s statement “The Car lin Vanadium deposit contains one of
North America's largest, richest known primary deposits of vana dium with unsurpassed accessibility” is
USGC Professional Paper 1802 Critical Mineral Resources of the United States—Economic and
Environmental Geology and Prospects for Future Supply dated December 18, 2017.
ON BEHALF OF CORNERSTONE METALS INC.
per: "Paul Cowley"
CEO & President
(604) 340-7711
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 re lease constitute "forward-looking" stat ements. These statements relate to
future events or the Company's fu ture 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 prog rams, and changes in mineral
resources. All such statements involve subst antial 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 invo lve 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. Althoug h 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 assu re investors that actual results will be consistent
with these forward-looking statements. The forward-look ing statements contained in this press release are
made as of the date hereof and the Company disclaims any intention or obligati on 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.