Cardero has recently concluded the USD 100 million sale of its Pampa de Pongo iron ore deposit in southern Peru to the Nanjinzhao Group of China. With this successful milestone now complete the Company is evaluating investment opportunities, including the review and assessment of advanced mineral projects, to continue to build shareholder value. Cardero also remains focused on unlocking the value in its remaining iron assets located in southern Peru's Marcona District while continuing to advance its base and precious metals projects in Minnesota, Argentina and Mexico. Founded in 1999, the Company strives to maximize shareholder value by utilizing management's strong regional network, geological and operational expertise to implement the most economically sound and environmentally friendly approach to building its business.

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