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Cornerstone Metals Inc (2)
Symbol CCC
Shares Issued 32,352,415
Close 2018-06-20 C$ 1.53
Market Cap C$ 49,499,195
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Cornerstone's Carlin testing achieves V levels over 95%

2018-06-20 10:13 ET - News Release

Mr. Paul Cowley reports

LATEST METALLURGICAL TEST RESULTS EXCEED 95% VANADIUM EXTRACTION FROM CORNERSTONE METALS INC.'S CARLIN VANADIUM PROJECT

Cornerstone Metals Inc. has released additional preliminary results of metallurgical testwork being conducted on its Carlin vanadium project in Nevada. The third round of testing has achieved vanadium extraction levels of 95.5 per cent.

"Our testing has very quickly moved the needle from the low 80s, which were strong, to outstanding numbers, far exceeding even our metallurgists' expectations," said Cornerstone president and chief executive officer Paul Cowley. "These numbers show a clear sign of a major technical breakthrough for our project."

Testwork continues on a sample composite generated from an 18.9-metre drill core intercept from the company's recent diamond drilling verification program on the deposit. The latest results employed a roast/leach/pressure oxidation approach. Continuing testwork will continue to optimize various parameters with the aim of developing a conceptual flowsheet. Once a conceptual flowsheet has been defined, tests will be run across the deposit on a full range of samples. The tests to date have been conducted to demonstrate potential recoveries. At this stage, there is no suggestion that these tests demonstrate economic viability.

Metallurgical testwork continues at Sherritt Technologies in Fort Saskatchewan, Alta., the leader in the development and commercialization of pressure hydrometallurgical processes. Sherritt is a one-stop shop that has a proven record of developing projects from concept to operation with a skilled and experienced team, including process and equipment specialists.

The Carlin vanadium deposit is considered one of the largest, highest-grade primary vanadium deposits in North America.

Vanadium's growing importance for steel manufacturing and the energy sector

Vanadium is growing in importance for key industrial manufacturing sectors, most notably steel and renewable energy. Today, more than 85 per cent 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 per cent of vanadium production used in energy storage where its substantial cost and performance benefits make it an alternative choice to lithium ion in several areas. Vanadium pentoxide flake prices have risen over the last 2.5 years from under $3 (U.S.) per pound to $15.70 (U.S.)/lb today.

About Cornerstone Metals Inc.

Cornerstone Metals has an option to earn a 100-per-cent interest in the Carlin vanadium project, located in Elko county, 22 kilometres by road (14 miles) from the town of Carlin, Nev. The project is consisting of 72 contiguous unpatented mineral claims totalling 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 zero to 60 metres (zero to 200 feet) below surface.

Technical disclosure in this news release has been reviewed and approved by Mr. Cowley, PGeo, a qualified person as defined by National Instrument 43-101, and president and chief executive officer of the company.

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