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To: 4figureau who wrote (4173)	4/22/2003 9:47:57 AM
From: 4figureau	Respond to of 5423

CDU: Cardero Acquires Libertad Property-Commencement of Drilling at the Olaroz Project Thursday April 17, 3:19 pm ET VANCOUVER, BRITISH COLUMBIA--Cardero Resource Corp. (the "Company") is pleased to announce that it has entered into an agreement to acquire the approximately 2 square kilometer Mina Libertad concession situated within the (now) 35,000 hectare Olaroz Project, located in the Province of Jujuy, northwestern Argentina. The Libertad concession is situated immediately to the north east of the La Providencia silver mine. The terms of the agreement provide, subject to regulatory approval, payment of a total of US$100,000 to acquire 100% interest in the property, scheduled as follows: - Due on signing: US$10,000 - Due within 6 months an additional: US$20,000 - Due within 12 months an additional: US$20,000 - Due within 18 months an additional: US$20,000 - Due within 24 months an additional: US$30,000 This acquisition provides the Company with 100% control, prior to the commencement of diamond drilling, of all the lands in the Olaroz Project region considered to have significant potential to host silver mineralization. At the Chingolo silver prospect an initial 1,100 metre diamond drill program is anticipated to commence on or about the 22nd of April, 2003. The close spaced follow-up backhoe pitting, bedrock sampling and geological mapping program has been completed. This detailed work located first-priority drill targets, over a 600 metre strike length, defined by anomalous silver-copper-lead-arsenic-antimony values. The program will test the potentially silver-copper mineralized Tertiary conglomerate formation to approximately 200 meters depth. Upon completion of the initial Chingolo drill program the drilling equipment will be mobilized to commence diamond drill evaluation of the Providencia silver deposit. Subject to favorable results from the initial drill program at the Chingolo silver prospect, a second diamond drill rig will be mobilized. Cardero Resource Corp. is a mineral exploration and development company listed on the TSX Venture Exchange. The Company is actively evaluating silver, gold and copper projects that have the potential to contain world class, company building mineral deposits. biz.yahoo.com