TORONTO, ONTARIO--(Marketwired - Oct 26, 2017) - Cordoba Minerals Corp. (TSX VENTURE:CDB)(OTCQX:CDBMF)
("Cordoba" or the "Company") is pleased to announce an update on its ongoing resource expansion
program at the high-grade, near-surface Alacran Deposit (located within the San Matias Copper-Gold Project in Colombia), as well
as other ongoing activities.
Drill Program - September/October, 2017
Cordoba is pleased to report that five out of the ten planned drill holes at Alacran have been successfully completed. The
Company continues to work diligently to complete the remainder of the planned drill campaign. Drilling is taking place in two
main fronts aimed at extending the resource in the immediate vicinity of an internally modeled pit shell.
- Down-dip extension to the west: the two step-out holes drilled so far in the northwestern portion of the
deposit (ACD070 and 71) were successful at proving down dip continuation of the copper-gold mantos with wide
intersections of abundant chalcopyrite mineralization. This is particularly impressive in hole ACD070 where the stratabound
copper-gold mineralization is overprinted by a discordant metre-wide fault zone filled with semi-massive sulfides. Predominance
of arsenopyrite (plus minor pyrite and sphalerite) coupled with the pervasive sericite-illite alteration and carbonate gangue
is diagnostic of a low sulfidation epithermal vein event. Assay results are pending.
- Southern extension of Alacran: three step-out holes (ACD067, 69 and 72) were completed, adding 100 metres
of strike length to the south of the shallow ore grade intercept that was reported in July for hole ACD066 (48 metres @
0.70% copper and 0.19g/t gold). Assay results are also pending for these holes.
Mario Stifano, President and CEO of Cordoba, said, "We are encouraged by our team's progress toward our immediate goal of
publishing an updated Resource Estimate at the Alacran Deposit. The exciting discovery of new epithermal veins increases the
likelihood for additional high-grade gold at Alacran and it remains unclear if they are related to previously reported high-grade
gold bearing Carbonate Base Metal (CBM) veins. The down dip continuation of mineralization at northern Alacran has the potential
to significantly increase the size and tonnage of the deposit. In addition, the potential relationship of the epithermal veins to
the large soil anomaly and intrusive immediately north of Alacran needs to be explored."
Updated Mineral Resource Estimate and Subsequent Preliminary Economic Assessment ("PEA")
The Company has engaged the services of AMEC Foster Wheeler to prepare an independent Mineral Resource estimate, which is
expected to be completed in early 2018. Cordoba then plans to release a Preliminary Economic Assessment during the first half of
2018.
Alacran Copper-Gold System
The Alacran copper-gold system is located within the San Matias Copper-Gold Project in the Department of Cordoba, Colombia,
200 km north of Medellin. San Matias comprises a 20,000-hectare land package.
The Alacran copper-gold deposit is located on a topographic high in gently rolling topography, optimal for potential open-pit
mining. Access and infrastructure are considered favourable.
The Inferred Mineral Resources at Alacran are currently 53.5 million tonnes of 0.70% copper and 0.37g/t gold.
Alacran is approximately two kilometres southwest of the Company's Montiel porphyry copper-gold discovery, where drilling
intersected 101 metres of 1.0% copper and 0.65g/t gold, and two kilometres northwest of the Costa Azul porphyry
copper-gold discovery, where drilling intersected 87 metres of 0.62% copper and 0.51g/t gold.
The copper-gold mineralization at Alacran is associated with stratabound replacement of a marine volcano-sedimentary sequence.
The deposit comprises moderately to steeply-dipping stratigraphy that is mineralized as a series of sub-parallel
replacement-style zones and associated disseminations. The mineralization is composed of multiple overprinting hydrothermal
events, and the main ore phase is comprised of chalcopyrite-pyrrhotite-pyrite that appears to overprint an early magnetite
metasomatic event.
Qualified Person
The technical information in this release has been reviewed, verified and compiled by Christian J. Grainger, Ph.D., a
Qualified Person for the purpose of NI 43-101. Dr. Grainger is not considered independent under NI 43-101 as he is a consultant
to Cordoba Minerals. Dr. Grainger is a geologist with over 18 years in the minerals mining, consulting, exploration, and research
industries. Dr. Grainger is a Member of the Australian Institute of Geoscientists (AIG).
The Alacran initial Inferred Mineral Resource estimate was completed by Mining Associates Limited and reported by the Company
on January 5, 2017, and is in accordance with National Instrument 43-101 and the 2014 Canadian Institute of Mining (CIM)
definition standards.
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 is currently focused on its 100%-owned San Matias Copper-Gold Project, which includes the
advanced-stage Alacran Deposit located in the Department of Cordoba. For further information, please visit www.cordobaminerals.com .
ON BEHALF OF THE COMPANY
Mario Stifano, President & CEO
Cordoba Minerals Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning
the specific factors disclosed here and elsewhere in both Cordoba's periodic filings with Canadian securities regulators. When
used in this news release, words such as "believe", "anticipate", "will", "could", "plan", "estimate", "expect", "intend", "may",
"potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is
necessarily summarized and may not contain all available material information.
Although Cordoba has attempted to identify important factors that could cause actual results, performance or achievements to
differ materially from those contained in the forward-looking statements, there can be other factors that cause results,
performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will
prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will
materialize.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this
news release are made as of the date of this news release, and Cordoba disclaims any intention or obligation to update or revise
such information, except as required by applicable law, and Cordoba does not assume any liability for disclosure relating to any
other company herein.