DGAP-News

RETRANSMISSION: Cardero Closes Option to Acquire The Zonia Copper Project

DGAP-News: Cardero Resource Corp. / Key word(s): Miscellaneous
RETRANSMISSION: Cardero Closes Option to Acquire The Zonia Copper
Project

28.10.2015 / 14:00

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Vancouver, British Columbia--(Newsfile Corp. - October 28, 2015) - Cardero
Resource Corp. (TSX: CDU) ('Cardero' or the 'Company') is pleased to
announce that it has completed the first scheduled payment to Redstone
Resources ('Redstone') with respect to acquisition of the Company's
flagship Zonia Copper-Oxide Deposit ('Zonia' or the 'Project'). Having
received shareholder approval for the acquisition in late August 2015, the
first scheduled option payment of US$150,000 and issuance of 1,000,000
Cardero shares has now been completed.

'Zonia is a near-surface copper-oxide resource and a brownfield site having
already been pre-stripped. It is amenable to truck and shovel open pit
mining and copper recovery via leaching and SX-EW processing to copper
cathode. The entire historical resource, as currently defined, is located
on private land and Cardero's plan going forward is to complete detailed
engineering in anticipation of permitting the project within 2 to 3 years.'
stated Henk van Alphen, Cardero's President & CEO, 'Having completed the
debt settlement and share consolidation in mid-October and having closed
the first tranche of the $1.5 million private placement last week, it is a
pleasure to be moving forward with the Zonia copper project, which will be
Cardero's flagship asset.'

'Since acquiring the Zonia Mine from Copper Mesa in 2009, Redstone has been
actively moving the project forward completing almost 16,000 meters of
drilling and moving critical engineering and environmental design aspects
towards permitting.' stated Dana Jurika, Redstone's CEO, 'We are delighted
to be working with Cardero's technical team as they continue to move the
project forward through this three-year option period.'

[image: https://orders.newsfilecorp.com/files/743/17796_cardero1.jpg]
To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/743/17796_cardero1enhanced.jpg
Existing Leach pads and Mine Infrastructure at the Zonia Mine site.

Zonia Project Details

The Zonia copper oxide deposit is located in Arizona, USA. The project has
comprehensive exploration, metallurgical studies and mine development
planning. Drilling on the property totals more than 60,000 meters in almost
700 drill holes, reducing technical risk considerably. Less than 30% of the
complete land position has been explored and there is potential for