Company Information for Cardero Resource Corp

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Company Statement

Statement by Henk Van Alphen, President and Director,

Cardero Resource Corp. is a leader in the exploration for world-class Iron Oxide Copper Gold (IOCG) properties in Latin America. Founded in 1999, Cardero has carved a niche in the minerals sector by being one of the few IOCG and iron explorers, but also holds other high-quality precious and base metal prospects. Cardero is uniquely positioned with an aggressive team of professionals, substantial land holdings, and an extensive network of strategic financial, mining and governmental relationships.

Cardero will continue to deliver shareholder value through a balanced multi-commodity focus (copper, iron and gold) for a variety of deposit-types in productive districts. The Company will focus on exploration for world-class, deposit types in both grass roots and brown-field settings to create shareholder value. Cardero's properties in Mexico and Peru are strategically adjacent to the pacific seaboard for ease of shipping to Asian markets.

Cardero is well financed and well positioned to continue to explore its projects in Mexico, Peru, and Argentina. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5).

Current Operations

Mexico

• Aggressively exploring over 200,000 hectares of highly prospective Iron Oxide Copper Gold (IOCG) ground within the Alisitos Arc in Baja California Norte
• In 2003, regional targeting highlighted numerous high priority target areas. Subsequent ground follow-up and 'screening' identified several large, zoned hydrothermal systems with associated iron oxide copper gold mineralization
• In 2006, Copper Mineralization intersected at Baja IOCG project. In summary, all drill holes contain intense (texture destructive) IOCG alteration with associated visible copper mineralization (chalcopyrite) that varies from trace amounts to significant accumulations (+20 m). The results indicate that this newly discovered district displays all of the key criteria necessary to form a large copper (Cu) bearing IOCG deposit
• March 29, 2006, at Picale Target, Borehole 05-PC-03 intersected 6.5m of massive to semi-massive magnetite - chalcopyrite mineralization that graded 4% Cu & 0.4 g/t Au, within which 4.2m returned 5.5% Cu and 0.56 g/t Au

 Peru

• At 100% owned Iron Sands project totaling 32,000 Ha south of Nazca, coastal region of Southern Peru, initial test results of two bulk samples sent to Midrex Technologies in North Carolina, USA has characterized property as "very encouraging", concluding that a "liquid metal button containing ~ 94% iron, ~ 5% carbon and <0.05% sulphur can be produced with excellent separation of metal to slag."
• Pampa de Pongo, a 100% owned project totaling 8,000 Ha in Marcona District, Rio Tinto concluded that, "Wide-spaced drilling suggests a potential resource of 1,000Mt comprising approximately 75% magnetite." Furthermore, preliminary metallurgical test work carried out by RT indicated that a simple low intensity magnetic separation could produce a saleable concentrate grading 66 to 69% iron
• The independent resource estimate concluded that the Pampa de Pongo deposit contains an Inferred Resource of approximately 953 million tonnes averaging 44.7% Fe, 0.12% Cu, 0.09 g/t Au based on the results of the 2004-2005 drill campaign, 3D magnetic modeling as well as prior drill results obtained by Rio Tinto plc.
• Seven properties 100% owned totaling 60,000 hectares around the productive Marcona IOCG district

The Marcona IOCG district is the most economically important in Southern Peru because it hosts the large iron oxide (+/- copper-gold) deposits of the Marcona mine (1,400 million tonnes iron ore) and Pampa de Pongo (1,000 million tonnes 75% magnetite) 

Argentina

• Nineteen gold and copper gold properties partially or 100% owned by Cardero totalling over 125,000 hectares.
• Finalizing the acquisition of twelve new gold properties located in the provinces of Jujuy and Catamarca in northwest Argentina. The properties cover an aggregate area of approximately 580 square kilometres and are a combination of 100% Cardero owned (staked) ground and land being acquired through option agreements with local third parties (presently being finalized). The discovery and acquisition of these properties is the result of an aggressive year long multidisciplinary regional exploration program targeting a Sedimentary Hosted Vein (SHV) model in the 61,000 square kilometre Ordovician Santa Victoria Basin.
• Geologically, the Huachi property is comprised of a high-level porphyry complex that displays all the characteristics of a high sulfidation, epithermal gold system. The property is also prospective for porphyry copper mineralization, the underlying intrusive phases are cross-cut by a well-developed quartz - sulphide stockwork and, locally, copper oxides (in addition to bornite - chalcopyrite - quartz - magnetite - 'shreddy' biotite and potassium feldspar) are present. During the initial property examination and due diligence Cardero geologists collected 47 rock samples within the "Main Stockwork Zone" at Huachi. Anomalous gold grades were returned from every area sampled, with an average of all samples returning 0.88 g/t gold. In addition, a 135 metre long continuous chip sample, collected in a distal portion of the system, averaged 0.38 g/t gold (within which a 10 metre chip sample returned 4.18 g/t gold).
• Copper-Gold Porphyry prospect Cerro Juncal which lies near the intersection of the regional north-south trending Cerro Galan - Tuzgle fault zone and northwest - southeast trending Cerro Ratones Lineament which contains several significant deposits and mineral occurrences such as Diablillos (inferred resource of 46Mt @ 69.5 g/t Ag and 1 g/t Au), Condor Yacu, Inca Viejo and Centenario.

Geographical Spread

Peru:
Pampa de Pongo
Iron Sands

Argentina:
Cerro Atajo

Mexico:
Main Alisitos Belt ­

Board of Directors and Key Management

Henk Van Alphen	President and Director
Len Harris	Director
Ken M. Carter	Director
Tony Frizelle	Director
Larry Talbot	Director
Dr. Murray W. Hitzman
G. Ross McDonald (CFO)
Mark Cruise	Vice President Exploration

Company Address Cardero Resources Suite 1901 West Hastings Street Vancouver, B.C., V6E 2K3 Email: info[at]cardero.com Website: http://www.cardero.com

Annual General Meeting TBA

Year End October 31st

Related News

20/02/08 - Cardero Resources Eyes Funds for Peruvian Iron Ore Plays
18/10/07 - Joint Venture With Newmont May Give Cardero Resources Some Stock Traction
17/04/07 - Cardero Resources Is Back On Track With Argentine and Peru Projects

Most Recent Statement

11/06/08 - Cardero Signs Formal Exploration Alliance Agreement with Newmont in NW Argentina
28/05/08 - Cardero Receives Drill Permit for Pampa de Pongo Project 43-101 Inferred Resource 953Mt @ 44.7% Iron
29/04/08 - Cardero Completes Phase I Testing of Magnetic Separation Pilot Plant at Pampa El Toro Iron Sands Project
17/04/08 - Cardero Announces Magnetic Survey Results & Exploration Potential for Pampa de Pongo Iron Deposit
15/04/08 - Cardero Defines Large Copper Target at San Jose Property, Baja IOCG District, Mexico
22/01/08 - Cardero Resources starts drilling at Incahuasi gold project