Mr. Mario Stifano reports

CORDOBA MINERALS ANNOUNCES CLOSING OF STRATEGIC INVESTMENT FROM HIGH POWER EXPLORATION

Cordoba Minerals Corp. has closed its private placement with High Power Exploration Inc., a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland, after receiving all required regulatory and shareholder approvals. With the strategic investment in Cordoba, HPX will have the option to enter into a joint venture with the company to earn up to a 65-per-cent interest in Cordoba's highly prospective San Matias copper-gold project in Colombia by financing the project and completing a feasibility study.

Under the terms of the partnership previously announced (see May 8, 2015, news release), HPX agreed to purchase 7.3 million units of Cordoba at the 20-day volume-weighted average price of 14 cents per unit, resulting in total proceeds to Cordoba of $1,022,000. Each unit consists of one common share of Cordoba and one fully vested, three-year Cordoba common share purchase warrant with an exercise price of 20 cents per share. If fully exercised, the warrant subscription proceeds will total an additional $1.46-million to Cordoba.

"We have received tremendous shareholder support for our partnership with HPX, and with the closing of the strategic investment, we can focus on exploring our highly prospective San Matias project, where we believe potential exists to find a world-class asset," commented Mario Stifano, president and chief executive officer of Cordoba.

The company is also pleased to announce that Eric Finlayson, HPX's senior adviser -- business development, will be joining the company's board of directors. Mr. Finlayson is a geologist with over 30 years of global exploration experience and was the global head of exploration for Rio Tinto from 2007 to 2011.

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