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Cardero Resource Corp (2)
Symbol CDU
Shares Issued 73,939,213
Close 2020-06-22 C$ 0.03
Recent Sedar Documents

Cardero appoints Hamazagic CFO to replace Bailey

2020-06-23 00:36 ET - News Release

Subject: Cardero Resource Corp. - News Release Word Document File: '\\doc\emailin\20200622 192227 Attachment CDU-NR20-03-CFO-jun22_20.docx' Cardero Resource Corp. 2 June 22, 2020 NR20-03 - Continued 2 CARDERO RESOURCE CORP. Suite 2300 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 Tel: (604) 408-7488 Toll Free: 1-888-770-7488 Fax: (604) 408-7499 Website: www.cardero.com TSX-V: CDU OTCBB: CDYCF NR20-03 June 22, 2020 Cardero Appoints New CFO Vancouver, British Columbia - Cardero Resource Corp. ("Cardero" or the "Company") (TSXV: CDU, Frankfurt: CR51) is announces the appointment of Sead Hamazagic as Chief Financial Officer of the Company replacing Blaine Bailey who has resigned due to other commitments, we wish to thank Mr. Bailey for his many years of service to the Company. Mr. Hamazagic is a Chartered Professional Accountant with 34 years of public practice experience and financial management experience. He has and continues to serve as CFO for several TSX-V and private companies and is well versed in reporting requirements for public companies. Stuart Ross, Chief Executive Officer, stated "We are pleased to have added Sead to our team, his knowledge of reporting requirements for public companies is excellent he will also assist the Company with internal reporting and liaison with our auditors. ABOUT CARDERO RESOURCE CORP. Cardero Resource Corp., headquartered in Vancouver, is a resource company focused on building a minerals exploration and development company. Cardero has exercised the exclusive option to acquire a 100% interest in the Zonia Copper Oxide Project, located in Arizona. Zonia is a near-surface copper-oxide resource and a brownfields site having already been mined in the late 1960s and '70s. The Project has been significantly de-risked with almost 700 drill holes completed to date and with substantial amounts of detailed engineering completed. The estimated resource (NI43-101 as amended and dated October, 2017) is located entirely on private land. Cardero completed a Preliminary Economic Assessment ("PEA") published in April 2018 which outlines a mine plan and a chosen development route that will allow permitting to be done on private land thereby reducing the time line for permitting. Engineering at Zonia is more advanced than a typical project at this stage of development and it is reasonable to assume that the Project could go straight to Feasibility from PEA. The deposit is amenable to truck and shovel open pit mining and copper recovery via leaching and SX-EW processing to copper cathode. Cardero's plan going forward is to complete a Feasibility Report and permitting of the Project within 3 to 4 year time line from start. Detailed information is available at the Company's web site at www.cardero.com . The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the Frankfurt Stock Exchange (symbol CR5) and OTCBB (symbol CDYCF). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com. On Behalf of the Board of Directors of CARDERO RESOURCE CORP. "Stuart R. Ross" (signed) Stuart R. Ross, CEO and President Contact Information: Stuart Ross or Marla Ritchie 604 408 7488 General Contact: Email: info@cardero.com Toll Free: 1-888-770-7488 Tel: 604 408-7488 Fax: 604 408-7499 Cautionary Note Regarding Forward-Looking Statements Forward Looking Information: This news release includes certain information that may be deemed "forward looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company and the Company's plans in relation to exploration programs and exercising its options regarding the Zonia project are forward- looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward- looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. PDF Document File: Attachment CDU-NR20-03-CFO-jun22_20.pdf CARDERO RESOURCE CORP. Suite 2300 1177 West Hastings Street, Vancouver, BC, Canada V6E 2K3 Tel: (604) 408-7488 Toll Free: 1-888-770-7488 Fax: (604) 408- 7499 Website: www.cardero.com TSX-V: CDU OTCBB: CDYCF NR20-03 June 22, 2020 Cardero Appoints New CFO Vancouver, British Columbia - Cardero Resource Corp. ("Cardero" or the "Company") (TSXV: CDU, Frankfurt: CR51) is announces the appointment of Sead Hamazagic as Chief Financial Officer of the Company replacing Blaine Bailey who has resigned due to other commitments, we wish to thank Mr. Bailey for his many years of service to the Company. Mr. Hamazagic is a Chartered Professional Accountant with 34 years of public practice experience and financial management experience. He has and continues to serve as CFO for several TSX-V and private companies and is well versed in reporting requirements for public companies. Stuart Ross, Chief Executive Officer, stated "We are pleased to have added Sead to our team, his knowledge of reporting requirements for public companies is excellent he will also assist the Company with internal reporting and liaison with our auditors. ABOUT CARDERO RESOURCE CORP. Cardero Resource Corp., headquartered in Vancouver, is a resource company focused on building a minerals exploration and development company. Cardero has exercised the exclusive option to acquire a 100% interest in the Zonia Copper Oxide Project, located in Arizona. Zonia is a near-surface copper-oxide resource and a brownfields site having already been mined in the late 1960s and `70s. The Project has been significantly de-risked with almost 700 drill holes completed to date and with substantial amounts of detailed engineering completed. The estimated resource (NI43-101 as amended and dated October, 2017) is located entirely on private land. Cardero completed a Preliminary Economic Assessment ("PEA") published in April 2018 which outlines a mine plan and a chosen development route that will allow permitting to be done on private land thereby reducing the time line for permitting. Engineering at Zonia is more advanced than a typical project at this stage of development and it is reasonable to assume that the Project could go straight to Feasibility from PEA. The deposit is amenable to truck and shovel open pit mining and copper recovery via leaching and SX-EW processing to copper cathode. Cardero's plan going forward is to complete a Feasibility Report and permitting of the Project within 3 to 4 year time line from start. Detailed information is available at the Company's web site at www.cardero.com . Cardero Resource Corp. 2 June 22, 2020 NR20-03 Continued The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the Frankfurt Stock Exchange (symbol CR5) and OTCBB (symbol CDYCF). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com On Behalf of the Board of Directors of CARDERO RESOURCE CORP. "Stuart R. Ross" (signed) Stuart R. Ross, CEO and President Contact Information: Stuart Ross or Marla Ritchie 604 408 7488 General Contact: Email: info@cardero.com Toll Free: 1-888-770-7488 Tel: 604 408-7488 Fax: 604 408-7499 Cautionary Note Regarding Forward-Looking Statements Forward Looking Information: This news release includes certain information that may be deemed "forward looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company and the Company's plans in relation to exploration programs and exercising its options regarding the Zonia project are forward- looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward- looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward- looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. 2

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