CCC Cornerstone Metals (delisted)

Cornerstone Metals Inc. (TSX VENTURE:CCC) ("Cornerstone" or the "Company") is
pleased to announce that it has signed a letter of intent ("LOI") to acquire all
of the shares of Copper One USA Inc. ("CO USA"), a private company that holds 6
copper properties located in New Mexico and Arizona, with the principal property
being Lone Mountain, NM. The LOI is subject to due diligence, which the Company
will commence immediately, while it proceeds to finalize a definitive agreement
to be executed upon completion of successful due diligence. 


Pursuant to the terms of the LOI, the Company has agreed to issue to Copper One
Inc. (TSX VENTURE:CUO) (vendor) 1,500,000 shares on closing of the transaction.
Additional consideration is tied to specific properties as follows: 




i.  Lone Mountain, New Mexico: 
    Within 30 days of a Definitive Feasibility Study, the Company will:

a.  issue 2,000,000 shares; 
b.  pay $1,000,000 in cash or shares (at the vendor's discretion); and 
c.  grant to the vendor a 0.5% NSR capped at $5,000,000, which may be
    repurchased for $1,000,000, payable in cash or shares (at the vendor's
    discretion)

ii. West Jerome, Arizona: 
    Within 30 days of a Definitive Feasibility Study, the Company will:

a.  issue 500,000 shares; 
b.  pay $750,000 in cash or shares (at the vendor's discretion); and 
c.  grant to the vendor a 0.5% NSR capped at $4,000,000, which may be
    repurchased for $800,000, payable in cash or shares (at the vendor's
    discretion)

iii.Remaining 4 Arizona and New Mexico Properties: Within 30 days of a
    Definitive Feasibility Study, the Company will:

a.  issue 350,000 shares; 
b.  pay $375,000 in cash or shares (at the vendor's discretion); and 
c.  grant to the vendor a 0.5% NSR capped at $3,000,000, which may be
    repurchased for $350,000, payable in cash or shares (at the vendor's
    discretion)



The Company paid the vendor an exclusivity fee of $10,000 on execution of the
LOI. The Company also agreed to pay the costs of updating the current NI43-101
report on the Lone Mountain property and, assuming successful due diligence
results, on or before April 1, 2013, the Company will fund a property payment
owing on the Lone Mountain property of $55,000. 


This transaction will be subject to standard closing conditions for a
transaction of this nature, including but not limited to board and regulatory
approvals, as well as shareholder approvals, if required. 


The Lone Mountain property will become Cornerstone's principal copper project in
the United States. Located near Silver City, New Mexico, the Lone Mountain
property is situated in a well-known mining district, 11 km southwest of the
Santa Rita-Chino mine and 16 km northeast of the Tyrone mine; both of these
mines are large open-pit copper operations owned by Freeport-McMoRan and both
currently produce copper using the SX-EW technology.


Land holdings on the Lone Mountain property consist of two New Mexico State
mineral leases and 40 unpatented federal mining claims, comprising 619.17
hectares (1,530 acres). Cornerstone will have an undivided 100% interest in the
claims and leases. The Company will retain, through Copper One USA Inc, a State
issued Level 4 exploration level permit for up to 176 drill sites and 3 holes
per site. 


The Lone Mountain property covers a large tonnage porphyry copper system with
some 25,500 metres of historic drilling in 56 drill holes. It represents a
broadly-explored, (drill hole spacing was approximately 250 metres)
well-mineralized, porphyry-skarn system with multiple, stacked mineralized
targets. Three distinct targets are present; a near-surface zone of copper oxide
mineralization, underlain by a mixed copper oxide-chalcocite zone and finally a
lower copper-zinc skarn zone. Copper oxide mineralization begins approximately
60 metres below surface and continues to over 250 meters below surface. The
copper oxide and mixed oxide-chalcocite zones will be the primary focus for
Cornerstone, with the aim to in-fill and justify an NI43-101 resource as quickly
as possible.


The mineralization is open in three directions. Drilling in 2011 by Copper One
intersected 135 meters of 0.36% copper on a portion of the property that had
never been tested and extended the known western zone mineralization to the
south, tripling its length.


The West Jerome property, near Jerome, Arizona, will be Cornerstone's second
priority, consisting of approximately five square kilometers of claims on the
west side of Freeport McMoRan patented lands. The property, in a Volcanogenic
Massive Sulfide camp, is a high-grade, massive sulfide target located 2.4 km
south of the past-producing United Verde (32 million tons grading 4.4% copper,
1.5 oz/t silver and 0.04 oz/t gold). The West Jerome property has attractive
untested TEM geophysical targets.


The Mimbres property consists of 45 unpatented lode claims and 2,040 acres of
New Mexico State Mining Leases over a potential porphyry copper-molybdenum
deposit and higher-grade copper-zinc-gold-silver-bearing skarns. It has a large
airborne magnetic signature similar in size and magnitude to the neighboring
Chino copper mine operated by Freeport McMoRan, 8 kilometres away.


The Twin Peaks property near Wickenburg, Arizona is a partially drilled, copper
oxide deposit that has excellent infrastructure and potential for a large
open-pit copper oxide body with very low strip ratio. A surface area measuring
750 metres by 520 metres exhibits veins, veinlets, and stockworks of chrysocolla
and secondary malachite, tenorite, and cuprite and chalcocite hosted by a
pyrite-poor Laramide-age quartz monzonite.


According to the US Geological Survey, the Safford District is the biggest
undeveloped copper district in the world with multiple world-class porphyry
copper deposits. The district is dominated by Freeport McMoRan mining
operations. The West Safford and Teague Springs properties are two
well-positioned projects in the district.


The West Safford property is 11km west from the producing Dos Pobres mine. It
consists of approximately 2,860 acres of claims, and a 640-acre Arizona State
Mineral Exploration lease. The target at West Safford is a large tonnage
"Resolution-type" porphyry copper target, buried beneath younger alluvium, in
the Safford Mining District.


The Teague Springs property consists of 1,920 acres of claims located further
west of Dos Pobres. The target area is a large tonnage, buried Laramide porphyry
copper-molybdenum-silver-gold system associated with a large, untested IP
anomaly and a Mo-Cu-Zn biogeochemical anomaly. 


Courtney Shearer, interim-CEO remarked, "We are very pleased to have the ability
to acquire a regional group of copper projects in this portfolio. We will now
have a predominantly copper-focused company and the clustering of these projects
geographically and strategically will provide technical and logistical
efficiencies to explore and develop these projects using our core competencies."


About Cornerstone Metals Inc.

Cornerstone owns 100% (subject to 1.5% NSR) of the 12,066 hectare Spences Bridge
Gold Project near Merritt, BC. The Spences Bridge project is an exploration
project focused on gold in the Spences Bridge Gold Belt. 


Cornerstone's objective is to advance exploration / development stage copper and
precious metals properties to production in the Americas. The Company's
Management and Board Core Competence is in exploration, permitting, development,
construction, and operation of mining projects.


ON BEHALF OF CORNERSTONE METALS INC. 

Courtney Shearer, Interim CEO & President

Paul S. Cowley, P.Geo., director of the Company is the Qualified Person as
defined in NI43-101, who has reviewed and approved the technical content of this
release.


Forward-looking information

All statements included in this press release that address activities, events or
developments that the Company expects, believes or anticipates will or may occur
in the future are forward-looking statements. These forward-looking statements
involve numerous assumptions made by the Company based on its experience,
perception of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the circumstances.
In addition, these statements involve substantial known and unknown risks and
uncertainties that contribute to the possibility that the predictions,
forecasts, projections and other forward-looking statements will prove
inaccurate, certain of which are beyond the Company's control. There can be no
assurance that any forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Except as required by law, Cornerstone doe snot
intend to revise or update these forward-looking statements after the date
hereof or to revise them to reflect the occurrence of future unanticipated
events.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cornerstone Metals Inc.
Courtney Shearer
Interim CEO & President
403-804-8636
888-255-9604 (FAX)
cshearer@cornerstonemetals.ca

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