Cornerstone Capital Resources Inc. announced the project update for the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project. Drill Hole CSD-16-019 (Hole 19) intersects 835m of copper mineralization (estimated true width(1) of 560m) from 325.6m to current depth 1161.50m, including a more intensely mineralized section from 545.9m. Bornite (a copper rich sulphide mineral containing 63% copper) and molybdenite are present in the mineralized section of Hole 19. Bornite mineralization mapped at surface, and in Hole 19 to date, support the existence of Hematite Hill, Alpala Southeast, and Cristal as high priority targets over 750m of strike extension southeast of Alpala Central. Preparations for drill rigs 4 and 5 continue ahead of drill testing the zone southeast of Alpala. Hole 18 encountered intense veining and mineralization over 665m from 903.9m to 1568.9m, and continues at 2144.8m depth, testing the lower levels and southwestern side of the Alpala system. Hole 20R entered brecciated (fragmented) porphyry style copper mineralization at 905.4m, approximately 200m higher than predicted, supporting the existence of widening and shallowing of the mineralized zone on the east and northeast sides of Alpala Central. Mineralization continues to current depth of 1050.0m. The Cascabel Project is located within the gold-rich northern section of the prolific Andean Copper belt renowned as the production base for nearly half of the world's copper. The project area hosts mineralization of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte, in northwestern Ecuador just west of the City of Ibarra, approximately 3 hours drive north of Quito and close to water, power supply and Pacific Ports. SolGold holds an 85% interest in ENSA (Exploraciones Novomining S.A.) which holds the Cascabel concession. Fourteen different targets have been defined at Cascabel and only one of these, the Alpala Deposit has been drilled to date. The deposit at Alpala continues to grow with each new drill hole. Drilling has focussed on defining the geometry of the Alpala deposit, which is open in all directions. Over 27,000m of drilling has been completed to date. Planned drilling for the coming quarter focuses on expansion of the Alpala deposit as well as testing of the south easterly extensions of the greater Alpala system, at Hematite Hill and Alpala Southeast. Examples of selected mineralization in drill core intersected recently in Holes 18, 19 and 20R show copper mineralization being encountered. Planned Drill Rig Deploymen Solgold is continuing to deploy multiple drilling rigs at Cascabel. Currently there are three operational rigs at the project and upgraded infrastructure and services will enable the deployment of two additional rigs in the next two months. Rig 1 (current) will continue testing the upward extensions of the Alpala Central deposit. Rig 2 (current) will relocate southeast of Alpala Central to the Hematite Hill area. Rig 3 (current) will continue testing the deepest portion of the Alpala Central deposit, below known mineralization. Rig 4 (proposed) is scheduled to commence in February 2017 an extensive multi-hole directional drilling program on the Alpala Deposit in February 2017. Rig 5 (proposed) is scheduled to commence in March 2017 testing of the Alpala South area, approximately 1km southeast of the current drilling area at Alpala.