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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (16203)	4/6/2016 7:35:42 AM
From: Goose94	Read Replies (2) \| Respond to of 202901

Cordoba Minerals (CDB-V) April 6, '16 is pleased to announce that High Power Exploration Inc., a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland, has entered Phase One of the Joint Venture Agreement whereby HPX can earn a 25% interest in the San Matias Project in Colombia by spending an additional C$6 million. Phase One of the Joint Venture has commenced as a result of HPX completing an initial C$2.5 million exploration program funded by HPX private placements into the Company (see details in Cordoba's February 29, 2016 news release). In Phase Two of the Agreement, HPX can earn a 51% interest in the San Matias Project by spending an additional C$10.5 million, for total exploration expenditures of C$19 million. HPX can earn up to a 65% interest in the project by carrying it to feasibility. HPX has also acquired a direct 50.1% interest in Sociedad Ordinaria de Minas Omni ("OMNI"), owners of the Alacran Copper-Gold Project (see October 21, 2015 news release), for approximately US$3.3 million. The Joint Venture has the option to acquire a 100% interest in the property, which is located within Cordoba's San Matias Project, and is currently completing a 3,000-metre drill program as part of the earn-in agreement. The share acquisition simplifies the OMNI shareholder structure, will contribute to the HPX earn-in under Phase One of the JV Agreement and will give HPX a 50.1% share of option payments and royalties attributable to OMNI under the Alacran earn-in agreement. "I am very pleased that HPX is proceeding to the next phase of our partnership and has committed additional funds to advance our exploration efforts at the San Matias Copper-Gold Project in Colombia including Alacran, where we believe the potential exists to make a world-class discovery. The purchase of the OMNI shares provides HPX with a controlling interest in the company for the benefit of both Cordoba and HPX," commented Mr. Stifano, President and CEO of Cordoba. The Company also announced that the Definitive Agreement for the acquisition of the Alacran Project from OMNI has been completed and the Company issued 100,000 warrants pursuant to the previously announced earn-in agreement. Each warrant is exercisable to acquire one common share of the Company at an exercise price of $0.21 until April 1, 2018. About San Matias Project The newly discovered San Matias Copper-Gold Project comprises a 20,000-hectare land package on the inferred northern extension of the richly endowed Mid Cauca Belt. The project contains several known areas of porphyry copper-gold mineralization, copper-gold skarn mineralization and vein hosted gold- copper mineralization. Porphyry mineralization at the San Matias Project incorporates high-grade zones of copper-gold mineralization hosted by diorite porphyries containing strong potassic alteration and various orientations of sheeted and stockwork quartz-magnetite veins with chalcopyrite and bornite. The copper-gold skarn mineralization at Alacran is associated with stratabound replacement of a marine volcano-sedimentary sequence. The nature of mineralization encountered at San Matias is similar to other large high-grade copper-gold deposits. About Cordoba Minerals Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba owns 100% of the highly prospective San Matias Project, located near operating open-pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobaminerals.com. Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Cordoba Minerals Corp. Mario Stifano President and CEO +1 416-862-5253 info@cordobamineralscorp.com www.cordobaminerals.com