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Cardero Completes $1,000,000 Investment in Wealth Minerals Ltd.

2009-10-26 15:31 ET - News Release

Also News Release (U-CDY) CARDERO RESOURCE CP

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 10/26/09

Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU)(NYSE Amex: CDY)(FRANKFURT: CR5) is pleased to announce that it has completed a $1,000,000 investment in Wealth Minerals Ltd. ("Wealth") of Vancouver, B.C.

Wealth is an early stage mineral exploration company with approximately 37.7 million shares issued and listings on the TSX Venture and Frankfurt Stock Exchanges. Wealth's focus is the acquisition and exploration of prospective uranium properties, primarily in Argentina and Peru. In addition to ongoing work programs on its existing properties, it continues to actively evaluate new potential uranium projects in these and other countries. Wealth recently completed a $1,406,980.26 financing, consisting of 3,349,953 units at a price of $0.42 per unit. Each unit consisted of one common share and one transferable common share purchase warrant, with each warrant being exercisable to acquire one additional common share until October 23, 2011 at an exercise price of $0.60. Cardero purchased 2,380,953 of the units at a cost of $1,000,000.

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