Ms. Sarah Armstrong-Montoya reports

CORDOBA AND JCHX MARK 50% EARN-IN COMPLETION, PAVING THE WAY FOR 100% OWNERSHIP TRANSITION AT ALACRAN

CMH Colombia SAS, the entity which holds the Alacran project in Colombia, has received the final $20-million (U.S.) instalment from JCHX Mining Management Co. Ltd. in accordance with the terms of the framework agreement signed on Dec. 8, 2022. Under this agreement, JCHX has now made all payments required to maintain its 50-per-cent interest in CMH.

Under the initial framework agreement, JCHX committed to acquire and maintain a 50-per-cent interest in CMH for total consideration of $100-million (U.S.), paid in three instalments. The first two instalments of $40-million (U.S.) each were paid on May 8, 2023, and Jan. 4, 2024, respectively, and earned JCHX its 50-per-cent interest in CMH. JCHX has now completed the final instalment payment of $20-million (U.S.), thereby fulfilling its entire $100-million (U.S.) investment obligation under the initial framework agreement and maintaining a 50-per-cent interest in CMH.

Cordoba used approximately $10-million (U.S.) of this final instalment payment to repay bridge loans arranged with JCHX affiliates in December, 2024, to support the Alacran project while awaiting environmental impact assessment approval.

On May 8, 2025, the company announced that it had entered into a new definitive agreement to sell its remaining 50-per-cent interest in the Alacran project, along with other assets, through the sale of its wholly owned Colombian subsidiaries, Minerales Cordoba SAS and Exploradora Cordoba SAS. These subsidiaries collectively hold 50 per cent of the shares of CMH, which owns the Alacran project. Upon completion of the transaction, Veritas Resources AG will own 100 per cent of the Alacran project. Veritas is currently an indirect wholly owned subsidiary of JCHX.

The transaction remains subject to the approval of the TSX Venture Exchange and other customary closing conditions. For additional details, please refer to the company's news release dated May 8, 2025.

"The completion of this final installment by JCHX is a major milestone for both companies and a strong vote of confidence in the Alacran project," said Sarah Armstrong-Montoya, president and chief executive officer of Cordoba. "JCHX has been a dedicated partner, and their continued investment underscores the long-term potential of Alacran. With the final instalment complete, and bridge loans and interest repaid, we are well positioned to advance the full divestment of Alacran and our remaining Colombian assets as announced in May."

For more information, please refer to the company's previously issued news releases dated Dec. 8, 2022, May 8, 2023, Jan. 4, 2024, Dec. 27, 2024, and, May 8, 2025.

About Cordoba Minerals Corp.

Cordoba Minerals is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Pending the completion of the transaction, Cordoba is jointly developing the Alacran project with JCHX. 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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