U.S. House of Representatives Passes Amendment #122 to NDAA to Streamline Permitting for Critical and Strategic Minerals Projects Which Would Include Vanadium
U.S. House of Representatives Passes Amendment #122 to NDAA to Streamline Permitting for Critical
and Strategic Minerals Projects Which Would Include Vanadium
June 13, 2018 ‐ Vancouver, British Columbia – Cornerstone Metals Inc. (TSX‐V: CCC) (OTCQB: CCCCF)
(FSE: 1PY) (“Cornerstone” or the “ Company”) is pleased to announce a recent vote by the U.S. House of
Representatives that could help fast track the advancement of Cornerstone’s Carlin Vanadium Project
near Carlin, Nevada.
In a move to facilitate streamlined permitting for critical and strategic minerals projects in the United
States, the U.S. House of a Representatives passed Amendment #1 22 to the National Defense
Authorization Act (NDAA) on a bipartisan vote of 229‐183 on May 23, 2018. With the passing of the
amendment, the House streamlined the permitting process to adva nce the Trump Administration’s
mission for mineral development in the United States by central izing permitting review projects under a
lead agency, streamlining permitting time‐frames specifically for critical and strategic minerals projects
and preserving environmental protections. The Amendment will need the U.S. Senate and Presidential
approval to become law.
Further, based on the U.S. Geological Survey December 2018 paper “Critical Mineral Resources of the
United States”, vanadium was defined as one of 23 critical or strategic minerals to the United States.
Vanadium production is largely controlled by China, Russia and South Africa and because the United
S t a t e s c u r r e n t l y h a s n o p r o d u c t i o n o f v a n a d i u m , i t i s d e p e n d e n t on imports to meet its needs, which
makes the supply vulnerable to potential influence and disruptio n b y s u c h f a c t o r s a s p o l i t i c a l c h a n g e s ,
market manipulation, environmental issues, civil unrest and natural disasters.
As vanadium is used in the steel industry and in a broad range of existing and emerging technologies, in
high‐tech industrial, energy, renewable energy, and defense sec tors, Congressman Tom Emmer stated on
May 23, 2018 regarding critical minerals, “These materials are instrumental to America’s national defense
and economic competitiveness, as is ensuring we can mine them h ere at home.”
“These new policy changes, once made into law, will have a direct positive impact on our project, as
vanadium is a critical mineral to the United States”, said Cornerstone President and Chief Executive
Officer Paul Cowley. “Streamlined permitting accelerates good p rojects, unlocking value to its
shareholders faster, and at the same time, securing the domesti c source for the United States faster. The
timing of these policies changes is ideal for us, forming a fav ourable regulatory setting during our
advancement of the Carlin Vanadiu m Project. The benefits would likely be seen across the short,
intermediate and long term”.
The Carlin Vanadium deposit is considered one of the largest, h ighest grade primary vanadium deposits in
North America (USGS Professional Paper 1802 Critical Mineral Re sources of the United States—Economic
and Environmental Geology and Prospects for Future Supply dated December 18, 2017).
The Company also announces the grant of 175,000 incentive stock options to a director of the Company,
subject to the terms and provisions of the Company’s stock opti on plan, at an exercise price of $0.98 per
share, for a five year term.
The Company announces that it has terminated its Investor Relations contract with H4C Group.
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. T h e p r o j e c t i s c o m p r i s e d o f 7 2
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
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 future performance and include the Company’s ability to meet the
conditions required to exercise in full its option to acquire t he Carlin Vanadium project and with respect to
current and planned drill programs, the results of exploration programs, metallurgical testwork, changes
in mineral resources, and permitting of the project. 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. Forwar d‐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 re lease, the Company cannot assure
investors that actual results will be consistent with these for ward‐looking statements. The forward‐looking
statements contained in this press release are made as of the d ate 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.