CANA BRAVA

CAÑA BRAVA

• • Target: Gold/Silver/Copper Porphyry and High Sulphidation Epithermal styles of mineralization
  • Located in south-central Ecuador
  • Drill ready targets identified
  • Right to own 100% ($80,000 a year option payment until we decide to exercise option by paying $350,000)
  • Farm in Agreement signed with Newcrest in April 2019. See news release 19-11 - Cornerstone and Newcrest sign definitive Option and Farm-in Agreement for the Caña Brava gold-copper Project in Ecuador
    • $100,000 on signing, $2M committed during 18 months from receipt of drilling permits
    • 51% by spending $10M ($2M + $8M over 4 years)
    • 65% by paying $650,000 & completing PEA over 2 years
    • 75% by spending $100 million or BFS (free carry, not repayable)
    • •o Post BFS we may convert 10% (2/5ths) to 2% NSR & retain 15% participating subject to dilution

Details

Cana Brava is located in south-central Ecuador in Loja Province. Results strongly suggest that a porphyry system(s) lie at shallow depth below the Soroche and Quebrada Caña Brava targets with peripheral higher level Intermediate sulphidation veins at Soroche Norte. So far, 4 mineralized zones have been identified and a phase 1 drilling program of 3,200m is proposed. Cornerstone is completing work on an environmental impact assessment (EIA) for Caña Brava, approval of which is a condition to obtaining the environmental license to drill the property