Cardero Announces Voluntary Delisting from the TSX and Concurrent Listing on the TSX Venture

VANCOUVER, British Columbia, July 15, 2016 (GLOBE NEWSWIRE) — Cardero Resource Corp. (“Cardero” or the “Company”) (TSX:CDU) (Frankfurt:CR5) reports that further to previous news release on May 17, 2016, the Company has received approval to list the common shares of the Company on the TSX Venture Exchange (“Venture”). The Company will voluntarily de-list from the TSX post-market on Friday July 29, 2016 and will begin trading on the Venture on Tuesday August 2, 2016.  The Company has been under delisting review for failure to comply with certain criteria in Part VII of the TSX Company Manual and the Company has chosen to voluntarily delist.

ABOUT CARDERO RESOURCE CORP.

The common shares of the Company are currently listed on the TSX (symbol CDU) 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.

“Henk van Alphen” (signed)

Henk van Alphen, CEO and President

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed “forward looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the potential of Zonia general future plans and objectives for the Zonia project, the completion of the Plan and receipt of shareholder and regulatory approval therefore, the likelihood of receipt of value from the Retained Right, the availability of financing to the Company and the Company’s plan in relation to its listing review are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include 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, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

CONTACT: Contact Information:
Marla Ritchie
604 408 7488

General Contact:
Email:  info@cardero.com 
Toll Free: 1-888-770-7488 
Tel: 604 408-7488
Fax: 604 408-7499