Cordoba and JCHX Mark 50% Earn-In Completion, Paving the Way for 100% Ownership Transition at Alacrán
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TSX.V: CDB | OTCQB: CDBMF
FOR IMMEDIATE RELEASE July 3, 2025
Cordoba and JCHX Mark 50% Earn-In Completion, Paving the Way for
100% Ownership Transition at Alacrán
- Bridge Loans Repaid -
Vancouver, BC – July 3, 2025 – Cordoba Minerals Corp. (TSXV: CDB; OTCQB: CDBMF) ("Cordoba" or
the "Company") is pleased to announce that CMH Colombia S.A.S. (“CMH”), the entity which holds
the Alacrán Project in Colombia, has received the final US$20 million installment from JCHX Mining
Management Co., Ltd. ("JCHX") in accordance with the terms of the framework agreement signed on
December 8, 2022 (the “Initial Framework Agreement”). Under this agreement, JCHX has now made
all payments required to maintain its 50% interest in CMH.
Under the Initial Framework Agreement, JCHX committed to acquire and maintain a 50% interest in
CMH for total consideration of US$100 million, paid in three installments. The first two installments
of US$40 million each were paid on May 8, 2023, and January 4, 2024, respectively, and earned JCHX
its 50% interest in CMH . JCHX has now completed the final installment payment of US$20 million,
thereby fulfilling its entire US$100 million investment obligation under the Initial Framework
Agreement and maintaining a 50% interest in CMH.
Cordoba used approximately US$10 million of this final installment payment to repay bridge loans
arranged with JCHX affiliates in December 2024 to support the Alacrán Project while awaiting
Environmental Impact Assessment approval.
On May 8, 2025, the Company announced that it had entered into a new definitive agreement to sell
its remaining 50% interest in the Alacrán Project, along with other assets (the “Transaction”), through
the sale of its wholly owned Colombian subsidiaries, Minerales Cordoba S.A.S. and Exploradora
Cordoba S.A.S. These subsidiaries collectively hold 50% of the shares of CMH, which owns the
Alacrán Project. Upon completion of the Transaction, Veritas Resources AG (“Veritas”) will own 100%
of the Alacrán Project. Veritas is currently an indirect wholly owned subsidiary of JCHX.
The Transaction remains subject to the approval of the TSX Venture Exchange and other customary
closing conditions. For additional details, please refer to the Company’s news release dated May 8,
2025.
“The completion of this final installment by JCHX is a major milestone for both companies and a
strong vote of confidence in the Alacrán Project, ” said Sarah Armstrong-Montoya, President and CEO
of Cordoba. “JCHX has been a dedicated partner, and their continued investment underscores the
long-term potential of Alacrán. With the final installment complete, and bridge loans and interest
repaid, we are well -positioned to advance the full divestment of Alacrán and our remaining
Colombian assets as announced in M a y.”
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For more information, please refer to the Company’s previously issued news releases dated
December 8, 2022, May 8, 2023, January 4, 2024, December 27, 2024 and, May 8, 2025.
On behalf of the Board of Directors:
Sarah Armstrong-Montoya
President and Chief Executive Officer
For further information, please contact:
Investor Relations
www.cordobaminerals.com
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development
and acquisition of copper and gold projects. Pending the completion of the Transaction, Cordoba is
jointly developing the Alacr án project with JCHX. Cordoba also holds a 51% interest in the
Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint Venture and Earn-
In Agreement. For further information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
+1 (604) 689-8765
Forward-Looking Statements
This news release includes “forward -looking statements” and “forward -looking information” within the
meaning of Canadian securities legislation. All statements included in this news release, other than statements
of historical fact, are forward -looking sta tements including, without limitation, statements relating to the
Alacrán project and the advancement thereof, statements with respect to the Transaction , including the
completion of the Transaction, the expected approvals required for the Transaction, including the approval of
the TSX Venture Exchange, and the anticipated ownership structure of Veritas, the use of proceeds from the
final installment, and the expected benefits from the Transaction. Forward -looking statements include
predictions, projections and forecasts and are often, but not always, identified by the use of words such as
“anticipate” , “believe” , “plan” , “estimate” , “expect” , “potential” , “target” , “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.
Forward-looking statements are based on a number of assumptions and estimates that, while considered
reasonable by management based on the business and markets in which Cordoba operates, are inherently
subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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. Important factors that could c ause actual results
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to differ materially from the Company’s expectations include title to mineral property risks; reliability of Mineral
Resource and Mineral Reserve estimates; going concern risks; the availability of capital and financing generally
for the development of the Alacran Project; a deterioration of security on site in Colombia or actions by the local
community that inhibits access and/or ability to productively work on site; community relations and
construction activities; fluctuations in the price of metals and the anticipated future prices of such metals;
stock market volatility; unanticipated changes in general business and economic conditions or conditions in
the financial markets; certain shareholders exercising significant control over the Company; foreign entity risks;
loss of key personnel; ne gative operating cash flow; changes in interest or currency exchange rates; risks
related to foreign operation including changes to taxation, social unrest, and changes in national and local
government legislation; regu latory risks; uninsured risks; environmental risks; competition; risks related to
participation in joint ventures; legal disputes or unanticipated outcomes of legal proceedings; changing global
financial conditions; force majeure ; conflicts of interest; cyber security incidents ; and the potential effects of
international conflicts on the Company’s business ; human error, and other exploration or other risks detailed
herein and from time to time in the filings made by the Company with securities regulators, i ncluding those
described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A. The
Company does not undertake to update or revise any forward -looking statements, except in accordance with
applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
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.