Cornerstone Metals Provides Update on its Carlin Vanadium Project
Cornerstone Metals Provides Update on its Carlin Vanadium Project
July 10, 2018 ‐ Vancouver, British Columbia – Cornerstone Metals Inc. (TSX‐V: CCC) (OTCQB: CCCCF) (FSE:
1PY) (“Cornerstone” or the “ Company”) is pleased to provide a project update on drilling plans, prel iminary
engineering, metallurgy and environmental studies on its Carlin Vanadium Project, south of Carlin, Nevada.
The Company has secured a drill contractor to conduct an infill and deposit expansion reverse circulation
(RC) drill program under its current BLM permit. The program wi ll commence in the first week of August and
consist of approximately 40‐50 shallow vertical and angled RC drill holes. Of those, three holes will twin
historic holes to provide additi onal comparisons for grades. Fi fteen holes will be conducted to infill parts of
the deposit to tight 40 metre centres. In addition, 22‐32 holes will be drilled selectively on edges of the
deposit with the objective of expanding the size of the deposit. Upon completion of the drill program, a
resource estimate will be prepared, based on all historic and Cornerstone drilling on the property.
Company CEO, Paul Cowley, P.Geo. conducted a site visit in the first week of July with the Company
construction advisor and the Company’s senior mining advisor and d i r e c t o r t o i d e n t i f y a n d r a n k m u l t i p l e
options for the plant, waste rock and tailings facilities sites on the property and to review infrastructure,
including road, rail and power access. The site location, and s urrounding and onsite infrastructure are strong
aspects of the project.
The property has access from both the south and north; each rou te within three and five miles from paved
highway. The town of Carlin, where rail is located, is 6 and 13 miles away via these two routes. Rail allows
access for concentrates to market s in the US, Canada and intern ationally via ocean transport. There are two
high voltage power lines within a 5 to 15 mile radius of the site.
Two of the potential plant site locations inspected have bedrock near to surface which will minimize the
concrete required for foundations. There are locations on site for potential tailings and waste rock including
the designed open pits which would be located in a line that po tentially could be backfilled with waste rock
or tailings progressively should mining occur.
The deposit host rock was examined and appears to be low to mod erate in hardness and heavily fractured
which will require less energy to drill, blast, crush and grind. Rock crushing and grinding characteristics will be
tested in an independent laboratory this month.
Metallurgical test work continues at Sherritt Technologies to optimize various parameters of temperature,
pressure and grind size with the aim of developing a conceptual flowsheet. The third round of testing,
previously reported (news release dated June 20, 2018), achieved vanadium extraction levels of 95.5%.
EM Strategies, Inc. of Reno, Nevada commenced baseline studies on the project in May 2018 and will
continue through the summer and fall. This baseline work includes botany, wildlife and cultural studies,
which will form the components to an application for the next level and stage of permitting.
Vanadium prices for 98% flake V2O5 have steadily risen from und er US$3.00/lb less than 3 years ago. This
week prices reached $17.50/lb.
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 importanc e for key industrial manufactur ing 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 substantia l cost and performance benefits make it an
alternative choice to lithium ion in several areas.
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 (13 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 shallo w depths, 0‐60m (0‐200 ft) below surface.
ON BEHALF OF CORNERSTONE METALS INC.
per: "Paul Cowley"
CEO & President
(604) 340‐7711
www.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‐loo king" statements. These statements relate to
future events or the Company's f uture performance and include t he Company’s ability to meet the conditions
required to exercise in full its option to acquire the Carlin V anadium project and with respect to current and
planned drill programs, the results of exploration programs, me tallurgical test work, and changes in mineral
resources. All such statements involve substantial known and un known 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 n ot necessarily be accurate indications of
whether or not such results will be achieved. Actual results co uld 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 reasonab le 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 pr ess 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.