Cardero Resource Corp.
TSX : CDU
NYSE MKT : CDY
FRANKFURT : CR5

Cardero Resource Corp.

August 08, 2013 08:00 ET

Cardero Acknowledges Luxor Capital Group News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 8, 2013) - Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(NYSE MKT:CDY)(FRANKFURT:CR5) announces that it has become aware of a news release issued by Luxor Capital Group of New York on August 6, 2013 with respect to certain matters involving the Company and the planned USD 5,700,000 private placement of senior secured notes announced by the Company on August 6, 2013. The Luxor news release states that a letter was sent to the Company as set out in the news release, but no such letter was received.

The Board of Directors of the Company is acutely aware of its fiduciary duties to act in the best interests of the Company and all of its stakeholders and is reviewing the matters set out in the Luxor news release. The Board will consider the available alternatives presented to it by Luxor, by Mr. Kopple and by others and make a determination as to the best course of action for the Company and all of its stakeholders in a timely manner.

The Company will provide further information as available.

ABOUT CARDERO RESOURCE CORP.

The common shares of the Company are currently listed on the TSX (symbol CDU), the NYSE MKT (symbol CDY) and the Frankfurt Stock Exchange (symbol CR5). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com and United States regulatory filings on EDGAR at www.sec.gov.

On Behalf of the Board of Directors of CARDERO RESOURCE CORP.

Hendrik Van Alphen, President & Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements regarding potential financing transactions with Luxor, Mr. Kopple or others, business and financing plans and business trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the Company's inability to obtain any necessary regulatory acceptances or approvals to any proposed transactions, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's 2013 Annual Information Form filed with certain securities commissions in Canada and the Company's 2013 annual report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC"), and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov, and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

NR13-17

Contact Information

  • Cardero Resource Corp.
    Hendrik Van Alphen
    President & Chief Executive Officer
    604 638-3882

    Cardero Resource Corp.
    604 408-7488
    Toll Free: 1-888-770-7488
    604 408-7499 (FAX)
    info@cardero.com
    www.cardero.com