Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc. ("Cornerstone") (CGP: TSX-V, GWN: F, GWN: B, CTNXF: OTC) today announced the results of a diamond drilling program carried out in late 2010 on its Red Cliff copper property by Vale Exploration Canada Inc. ("VEC"), a wholly-owned subsidiary of Vale S.A. (NYSE: VALE and VALE.P; BM&F BOVESPA: Vale3 and Vale5; Euronext Paris: Vale3 and Vale5) ("Vale"). As previously announced (see news release dated May 04, 2010), VEC has the option to acquire a 60% interest in Cornerstone's Red Cliff and Deer Harbour properties which are located on the Bonavista Peninsula in eastern Newfoundland. VEC is the operator of the exploration programs during the option period in consultation with Cornerstone. The properties are targeting sediment-hosted stratiform copper (SSC) deposits similar to those of the prolific Central African Copperbelt, also of Late Neoproterozoic age.

The drilling program consisted of 6 holes (RC-10-01 thru RC-10-06) totaling 870 m. A 7th hole (RC-10-07) was started but abandoned at only 8 m due to a lack of available water. Drilling was carried out in three separate areas of the Red Cliff property: i) East of Swibbs Cove Pond (3 holes); ii) East of Duntara (1 hole); and iii) North of Duntara (3 holes). Drill hole locations are shown in Figure 1 and a summary of results is provided below in Table 1.

Table 1. Summary of Diamond Drilling Results, Red Cliff property (VEC - Q4 2010)

Hole No.	Location (UTM NAD 27, Zone 22)		Elevation (m)	Dip (o)	Azimuth (o)	Length (m)	Results/Remarks
	Easting	Northing
RC-10-01	320947	5384140	122	-70	225	251.0	No Significant Cu
RC-10-02	320341	5386161	83	-60	270	71.0	No Significant Cu
RC-10-03	320540	5385647	120	-60	270	68.0	No Significant Cu
RC-10-04	324564	5385860	88	-70	135	77.0	No Significant Cu
RC-10-05	326617	5384880	88	-70	235	239.0	No Significant Cu
RC-10-06	325752	5386926	96	-70	170	164.0	Low-grade copper encountered 120.0 - 149.9 m: 0.12% Cu over 29.9 m including 0.27% Cu over 10.9 m (137.0 - 147.9 m). Best assay of 1.38% Cu and 8.4 g/t Ag over 1.0 m from 137.0 - 138.0 m
RC-10-07	325093	5386196	99	-70	170	8.0	Hole abandoned in red beds at only 8.0 m
Total						878.0

All holes were targeting and successfully intersected the favourable reduced grey bed horizons. However, with the exception of hole RC-10-06 located north of the Blue Point prospect, none of the holes encountered significant copper mineralization. Hole RC-10-06 intersected low grade copper grading 0.27% Cu over 10.9 m (137.0 - 147.9 m) within a broader zone grading 0.12% Cu over 29.9 m (120.0 -- 149.9 m). A single 1.0 m sample from 137.0 -- 138.0 m returned a maximum assay of 1.38% Cu and 8.4 g/t Ag.

During the next several weeks, consulting geologist Dr. Jon Thorson and expert on SSC deposits will be reviewing the Red Cliff drill core with VEC and Cornerstone geologists in order to help guide future exploration work.

This press release was prepared by Terry Brace, P.Geo., Cornerstone's VP Exploration and a Qualified Person (QP) in accordance with National Instrument (NI) 43-101. Exploration work on the Red Cliff project was carried out under the supervision of Cameron Bowie, P.Geo., VEC's Principal Geologist for North American Exploration and a QP in accordance with NI 43-101.

All drill holes are NQ in size. The core is logged and photographed and the mineralized sections, where appropriate, are sawn in half at a core logging facility in Port Rexton, NL. Half of the core is submitted to Eastern Analytical Limited in Springdale, NL for sample preparation, and the pulps are sent to the ALS Chemex laboratory in Sudbury, ON. All samples are analyzed using four acid digestion and 33-element geochemical ICP-AES technique. Any samples exceeding the geochemical ICP-AES upper detection limit are re-analyzed using four acid digestion and ICP-AES technique designed for low grade mineralized materials. The remaining half of the core is kept for future reference. Blanks, duplicates and standards are used as part of the assay procedure according to Vale's QA/QC protocols.

Other News
In other news, Cornerstone announces that it has signed a definitive agreement to acquire 100% of the shares of Santa Barbara Copper and Gold S.A. ("SBCG"), a wholly owned Ecuadorian subsidiary of Santa Barbara Resources Limited (TSX-V: SBL). The key assets of SBCG are the La Encrucijada and Cascabel gold and silver projects. The terms of the agreement and a description of the two projects are contained in Cornerstone's February 17, 2011 news release.

Also in other news, during the first quarter of 2011, 14,481,276 warrants have been exercised by warrant-holders, providing cash proceeds to the Company of $2.6 million.

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