Ms. Sarah Armstrong-Montoya reports

CORDOBA MINERALS ANNOUNCES THE RECEIPT OF US$4 MILLION JOINT VENTURE FUNDING FROM JCHX

Cordoba Minerals Corp. joint venture CMH Colombia SAS, which owns 100 per cent of the Alacran project in Colombia, has received the previously announced joint venture financing of $4-million (U.S.) in the form of a short-term loan from a subsidiary of JCHX Mining Management Co., Ltd. (refer to Cordoba's news release dated Oct. 4, 2023).

The loan bears simple interest at 12 per cent per annum and payable on its maturity date, which is the earlier of (i) 12 months after the date of the loan agreement, and (ii) the date the second installment of $40-million (U.S.) becomes payable by JCHX under the $100-million (U.S.) strategic arrangement (refer to Cordoba's news release dated Dec. 8, 2022). If the maturity date occurs as the date of the second instalment, the outstanding amount under the loan may be deducted from the second instalment.

The proceeds from the loan will be used to ensure continued advancement of the Alacran project, and for general corporate purposes.

"With the support from our joint venture partner, JCHX, the Alacran project is well under way towards the completion of its feasibility study and environmental impact assessment," commented Sarah Armstrong-Montoya, president and chief executive officer of Cordoba.

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 Mining Management Co., Ltd., located in the department of Cordoba, Colombia. Cordoba also holds a 51-per-cent interest in the Perseverance copper project in Arizona, which it is exploring through a joint venture and earn-in agreement.

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