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

Cardero Resource Corp.

March 06, 2012 08:00 ET

Cardero Withdraws From Trefi Deposit Purchase LOI

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2012) - Cardero Resource Corp. ("Cardero" or the "Company") (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) announces that it has withdrawn from the non-binding letter of intent ("LOI") with Anglo Pacific Group PLC ("Anglo Pacific") to acquire the Trefi Coal Property as previously announced on November 17, 2011 (News Release NR11-18).

The LOI, executed on November 15, 2011, related to Cardero's proposed acquisition of the Trefi metallurgical coal project, located in northeast British Columbia.

Following a period of due diligence, the Company has determined that the contemplated Trefi investment does not fit with its current northeast coalfield strategy.

Under the terms of the LOI, Cardero will pay Anglo Pacific a break fee of $75,000 plus certain ancillary expenses incurred by Anglo Pacific in connection with the LOI.

About Cardero Resource Corp.

The common shares of the Company are currently listed on the Toronto Stock Exchange (symbol CDU), the NYSE-Amex (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.

Michael Hunter, CEO and President

Contact Information

  • Cardero Resource Corp.
    Nancy Curry
    Corporate Communications
    604 638-3287

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