TORONTO, ONTARIO--(Marketwired - Nov. 10, 2016) - Cordoba Minerals Corp. (TSX
VENTURE:CDB)(OTCQX:CDBMF) ("Cordoba" or the "Company") announced today that High Power Exploration Inc. ("HPX"), a
private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland's Ivanhoe Industries, LLC, has
completed Phase two of the Joint Venture Agreement ("JV Agreement") and has now earned a 51% interest in the San Matias
Copper-Gold Project ("San Matias", or "San Matias Project") in Colombia. HPX has earned its 51% interest in the project by
spending a cumulative total of C$19 million in exploration expenditures.
Phase Three of the Joint Venture Agreement has now commenced. HPX can increase its ownership in the San Matias
Project to 65% by completing a Feasibility Study on the project.
Mario Stifano, President and CEO of Cordoba, commented: "We are pleased that our partner HPX has committed to
moving the highly prospective San Matias Copper-Gold project to the feasibility stage as we continue with our aggressive
exploration program."
About San Matias Project
The San Matias Copper-Gold Project comprises a 20,000-hectare land package on the inferred northern extension of
the richly endowed Mid-Cauca Belt in Colombia. 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 secondary biotite 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 High Power Exploration
HPX is a privately owned, metals-focused exploration company deploying proprietary in-house geophysical
technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical
systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced
board and management team led by Co-Chairman and Chief Executive Officer Robert Friedland, President Eric Finlayson, a former
head of exploration at Rio Tinto, and co-chaired by Ian Cockerill, a former Chief Executive Officer of Gold Fields Ltd. For
further information, please visit www.hpxploration.com.
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 has a joint venture with High Power Exploration on the highly prospective,
district-scale San Matias Copper-Gold Project located at sea level with excellent infrastructure and near operating open-pit
mines in the Department of Cordoba. For further information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes certain "forward-looking information" within the
meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are
often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "forecast", "expect", "potential", "project", "target", "schedule",
budget" and "intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other
similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in
this release, including, without limitation, statements regarding the potential of the Company's properties are
forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors
that could cause actual results to differ materially from Company's expectations include actual exploration
results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or
inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the
filings made by the Company with securities regulators. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be
other factors that cause such actions, events or results to differ materially from those anticipated. There can be no
assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue
reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any
intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.