Ms. Sarah Armstrong-Montoya reports

CORDOBA MINERALS ANNOUNCES THE RECEIPT OF US$4 MILLION BRIDGE FINANCING FROM IVANHOE ELECTRIC

Cordoba Minerals Corp. has received the previously announced bridge financing of $4-million (U.S.) in the form of a short-term convertible debenture from Cordoba's majority shareholder, Ivanhoe Electric Inc.

The proceeds from the debenture have been advanced to CMH Colombia SAS, the joint venture vehicle that owns 100 per cent of the Alacran project, in Colombia, for the joint development with JCHX Mining Management Co. Ltd. (refer to Cordoba's news release dated Oct. 4, 2023).

The purpose of the debenture is to ensure the company can continue the advancement of the feasibility study and the environmental impact assessment work programs at the Alacran project and for general corporate purposes.

"With the ongoing backing of our majority shareholder, Ivanhoe Electric Inc., the FS technical work program can continue to focus on the optimization of the Alacran project, which is expected to improve project economics and further enhance project value," commented Sarah Armstrong-Montoya, president and chief executive officer of Cordoba. "The EIA is also under way. We expect to have both items ready for the next step by the end of this year."

About Cordoba Minerals Corp.

Cordoba is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran project with JCHX, located in the department of Cordoba, Colombia. Cordoba also holds a 51-per-cent interest in the Perseverance copper project in Arizona, United States, which it is exploring through a joint venture and earn-in agreement.

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