Cordoba Minerals Announces Additional High Grade Copper-Gold Mineralization at the Alacran Deposit in Colombia New Visible Gold Intersected with Assays Pending

Cordoba Minerals Announces Additional High Grade

Copper-Gold Mineralization at the Alacran Deposit in

Colombia

New Visible Gold Intersected with Assays Pending

TORONTO, ONTARIO, May 17, 2017: Cordoba Minerals Corp. (TSX-V:

CDB; OTCQX: CDBMF) (“Cordoba” or the “Company”) and its joint

venture partner, High Powe r Exploration Inc. ("HP X"), a private mineral

exploration company indi rectly controlled by mi ning entrepreneur Robert

Friedland’s Ivanhoe Industries, LLC, are pleased to announce that

ongoing drilling at the Alacran Project in Colo mbia, has continued to

encounter high grade copper-gold mineralization.

Recent drill holes have recorded mine ralized intercepts of up to 184

metres, many with gold a nd copper mineralization that are significantly

higher than the grades used in the preliminar y Inferred Mineral Resource

statement with the potential to expand the resource envelope.

Drilling also has re sulted in an enhanced underst anding of the structural

controls to the mineralizat ion, providing good targets for future drilling. In

addition, drilling has conf irmed additional intersections of the carbonate

base metals (CBM) veins, whic h host the bonanza-grade gold

mineralization previously intersect ed in hole ACD036 (see January 23,

2017 news release).

Highlights

(refer to Table 1 for complete drilling results)

 ACD037:

o 34 metres @ 0.94% copper a nd 0.28 g/t gold (1.15%

CuEq; from 68 metres), including:

 8 metres @ 2.35% copper, 0.55 g/t gold (2.77% CuEq;

from 76 metres) 

 ACD040:

o 122 metres @ 0.55% copper and 0.22 g/t gold (0.72%

CuEq; from 40 metres), including:

 12 metres @ 2.01% cop per, 0.81 g/t gold (2.63%

CuEq; from 82 metres)

 ACD041:

o 184 metres @ 0.46% copper and 0.28 g/t gold (0.67%

CuEq; from 6 metres), including:

 12 metres @ 1.04% copper , 2.44 g/t gold (2.90%

CuEq; from 16 metres) an d 2 m @ 9.82 g/t gold,

1.57% copper from 18 metres  

 ACD047:

o 128 metres @ 0.80% copper and 0.24 g/t gold (0.98%

CuEq; from 0 metres), including:

 34 metres @ 1.43% copper , 0.38 g/t gold (1.72%

CuEq; from 74 metres) 

 ACD050:

o 42 metres @ 0.55% copper a nd 1.25 g/t gold (1.51%

CuEq; from 76 m), including:

 18 metres @ 0.98% cop per, 1.50 g/t gold (2.12%

CuEq; from 20 metres)

 2 metres @ 11.15 g/t gold, 1.32% copper from 78

metres and 2 metres @ 7.36 g/t gold, 1.56% copper 

 ACD057:

o 114 metres @ 0.59% copper and 0.16 g/t gold (0.71%

CuEq; from 0 metres), including:

 8 metres @ 2.66% copper, 0.51 g/t gold (3.05% CuEq;

from 106 metres)

 ACD058:

o 28 metres @ 1.55% copper a nd 0.58 g/t gold (1.89%

CuEq; from 214 metres), including:

 6 metres @ 4.67% copper, 1.67 g/t gold (5.45% CuEq;

from 214 metres)

 2 metres @ 3.4 g/t gold, 8.89% copper (from 216

metres)

Mario Stifano, President and CEO of Cordoba, commented: “Drilling at

Alacran continues to identify near surface high grade copper-gold

mineralization with additional CBM ve ins intersected in multiple holes

over a 400 metre structural trend, indicating potential to identify additional

bonanza grade zones and veins. Ou r geological unders tanding of the

multiple mineralizing events and struct ural interpretation at Alacran is

improving with visible go ld recently intersected in drill hole ACD063, with

assays pending. With strong communi ty support, the Company is now

positioned to drill deep holes around the artisanal mine workings to

identify the source of the higher-grade gold and copper mineralization and

target additional CBM veins at Alacran”.

Gold-rich zones at the Alacran project are associated with CBM

(carbonate base-metal) style veining that has a zinc-gold association and

is interpreted to be a later event overprinting the copper-gold

mineralization. Recent drillin g analysis has shown that a north-south

striking, steeply west-dipping, diorite dyke has been noted in a number of

holes. This dyke appears to have a very strong correlation with high

grade Cu-Au replacement mineraliz ation and also appears to have a

close affinity with high grade gold , such as the bonanza gold grade

reported previously in ACD036 (0.90 meters @ 4,440 g/t gold, 10.25%

copper, 24.70% zinc and 347 g/t silver) . A direct magmatic-related

association between high-grade copper-gold, and potentially the gold-zinc

CBM veining, adds additional potential high-grade drill targets over a

considerable strike length of the Alacran known mineralization.

The relationship of this dyke to mi neralization is outlin ed in Figure 2,

where additional high-grade gold has been intersected in ACD041 (2

metres @ 9.82 g/t gold, 1.57% c opper), in ACD050 (2 metres @ 11.15

g/t gold, 1.3% copper and 2 metres @ 7.36 g/t gold, 1.56% copper )

and ACD58 ( 2 metres @ 3.4 g/t gold, 8.89% copper) . There is

potential to follow this body down dip to the west for additional

replacement-style mineralization. Another primary control on late high-

grade gold mineralization at Alacran is a NNE stri king fault corridor which

appears to control a seri es of en-echelon CBM st yle veins (as seen in

ACD036). The gold in these veins is coarse and highly “nuggety”, but

values typically return in excess of 5 g/t gold.

Diamond drilling, aided through detaile d structural interpretation of

previously intersected CBM style mineralization, will target these zones in

the ongoing drill program at the Alacran project.

Discussion

Twenty-two drillholes have been completed at the Alacran project that focused on

lateral extensions and continuity of copper-gold mineralization related to higher-grade

zones between drill sections that to date, are drilled on approximately 100 metre

spaced drill fences. Drilling was concentrated on the northern parts of the known

copper-gold mineralization, some of the key results are discussed below.

On Section 855825mN one drillhole was collared to test obliquely to the south the

continuity of copper-gold mineralization between sections.

 ACD047 intersected 128 metres @ 0.80% copper and 0.24 g/t gold (0.98%

CuEq) from surface and demonstrated higher than average grades for both

copper and gold from surface over a significant interval.

On Section 855680mN,

 ACD058 was drilled obliquely to the south to test the continuity of copper-gold

between sections and successfully inte rsected a number of copper-gold rich

zones that are significantly higher than the preliminary resource grades for both

copper and gold. These are outlined in Table 1 and include:

o 80 metres @ 0.43% copper and 0.22 g/t gold (0.60% CuEq) from 114

metres

 including 4 metres @ 1.38% copper and 0.50 g/t gold (1.76%

CuEq) from 168 metres,

o 28 metres @ 1.55% copper and 0.58 g/t gold (1.89% CuEq) from 214

metres

 including 6 metres @ 4.67% copper and 1.67 g/t gold (5.45%

CuEq) from 214 metres.

Section 855570mN, six drillholes were collared; some to test the up-dip extensions to

the orebody on section and some drilled oblique to section, both north and south, to

better determine the short distance variation in both copper and gold grades. The

copper-gold mineralization remains open down-dip on section.

 ACD050 was an oblique drillhole drilled to the south east to test the continuity

of higher-grade copper-gold mineralization between section that successfully

intersected multiple, large intervals of copper-gold mineralization as noted in

Table 1, and include

o 42 metres @ 0.55% copper and 1.25 g/t gold (1.51% CuEq) from 76

metres.

 ACD041 was drilled to the west to better define structural controls of

stratigraphy on copper-gold mineralization down-dip and successfully

intersected a large interval of coppe r-gold mineralization that incorporated 184

metres @ 0.46% copper and 0.28 g/t gold (0.67% CuEq) from 6 metres and

included a number of higher-grade intervals as outlines in Table 1 including:

o 12 metres @ 1.04% copper and 2.44 g/t gold (2.90% CuEq) from 16

metres, and

o 12 metres @ 1.09% copper and 0.20 g/t gold (1.24% CuEq) from

106 metres.

 Drillholes ACD052, ACD055 and ACD056 was a fan of drillholes testing the

short distance variation of copper-gold grades and also was targeting

interpreted CBM vein targets. Results are outlined in Table 1 and include:

o 42 metres @ 0.77% copper and 0.45 g/t gold (1.11% CuEq) from 78

metres (ACD052)

On Section 855440mN, three drillholes were collared to test the up-dip extensions of

copper-gold mineralization to the east, coppe r-gold mineralization between drillholes

ACD034 and ASA001 and an oblique drillhole to the north to test for continuity of

copper-gold mineralization between sections.

 ACD037 was an infill drillhole and intersected multiple zones of copper-gold

mineralization with grades above the preliminary resource grades for both

copper and gold as outlined in Table 1 including:

o 34 metres @ 0.94% copper and 0.28 g/t gold (1.15% CuEq) from 68

metres

 including 8 metres @ 2.35% copper and 0.55 g/t gold (2.77%

CuEq) from 76 metres and

 6 metres @ 1.06% copper and 0.47 g/t gold (1.42% CuEq)

from 92 metres)

 ACD040 was an oblique drillhole oriented to the NE to test the continuity of

copper-gold mineralization between sections where it intersected a large

interval of copper-gold mineralization t hat included numerous internal intervals

that are higher than the preliminary resource grades for both copper and gold

as outlined in Table 1 and include:

o 122 metres @ 0.55% copper and 0.22 g/t gold (0.72% CuEq) from

40m

 including 8 metres @ 1.05% copper and 0.51 g/t gold (1.43%

CuEq)

 and 12 metres @ 1.05% copper and 0.51 g/t gold (1.43%

CuEq).

Section 855350mN was the southern-most section tested and where the most

significant results were located, adding prospectivity for further advances to the south

within the Alacran orebody. Three drillholes were collared to test for up-dip extensions

of the copper-gold mineralization to the east, infill drilling between drillholes ASA002

and ACD023 and an oblique hole directed to the north-east to test for continuity of

copper-gold mineralization between sections.

 ACD053 was an infill drillhole with multiple intersections as outlined in Table 1,

including:

o 62 metres @ 0.89% copper and 0.31 g/t gold (1.13% CuEq) from 55

m

 including 12 metres @ 1.12% copper and 0.65 g/t gold (1.62%

CuEq) from 55 m)

 and 14 metres @ 2.03% copper and 0.30 g/t gold (2.26%

CuEq) from 95 metres.

 ACD057 was collared obliquely to the north-east to test for continuity of copper-

gold mineralization between sections where it intersected a significant large

zone of copper-gold mineralization containing intervals at significantly higher

copper and gold grades as reported in t he preliminary resource estimate,

intersections can be found in Table 1 , they include

o 114 metres @ 0.59% copper and 0.16 g/t gold (0.71% CuEq) from 0

metres

 including 8 metres @ 1.71% copper and 0.13 g/t gold (1.81%

CuEq)

 and 8 metres @ 2.66% copper and 0.51 g/t gold (3.05%

CuEq).

Alacran Copper-Gold Project

The Alacran Copper-Gold project is located within the Company’s San Matias Copper-

Gold Project in the Department of Cordoba, Colombia. The Alacran project is located

on a topographic high in gently rolling topography, optimal for potential open-pit mining.

Access and infrastructure are considered favourable. The Alacran initial, pit-

constrained, Inferred Mineral Resource is 53.52 million tonnes at 0.70% copper and

0.37 g/t gold, or 0.95% copper equivalent (CuEq), including 7.37 million tonnes at

2.14% copper and 0.41 g/t gold above 1% copper (Cu) cut off (see news release dated

January 5, 2017.

Alacran is approximately two kilometres s outhwest of the Company’s Montiel porphyry

copper-gold discovery, where drilling intersected 101 metres of 1.0% copper and 0.65

g/t gold , and two kilometres northwest of the Costa Azul porphyry copper-gold

discovery, where drilling intersected 87 metres of 0.62% copper and 0.51 g/t gold .

The copper-gold mineralization at Alacran is associated with stratabound replacement

of a marine volcano-sedimentary sequence in the core of a faulted antiformal fold

structure. The deposit comprises moderately to steeply-dipping stratigraphy that is

mineralized as a series of sub-parallel replacement-style or skarn zones and

associated disseminations. The copper-gold mineralization is composed of multiple

overprinting hydrothermal events with the ma in ore phase comprised of chalcopyrite-

pyrrhotite-pyrite that appears to overprint a large-scale early magnetite metasomatic

event.

About San Matias Project

The San Matias Copper-Gold Project comprises a 20,000-hectare land package on the

inferred northern extension of the richly endowed Mid-Cauca Belt in Colombia. The

project contains several known areas of porphyry copper-gold mineralization, copper-

gold skarn mineralization and vein-hosted, gold-copper mineralization. Porphyry

mineralization at the San Matias Project in corporates high-grade zones of copper-gold

mineralization hosted by diorite porphyries containing secondary biotite alteration and

various orientations of sheeted and stockwork quartz-magnetite veins with chalcopyrite

and bornite. The copper-gold skarn minerali zation at Alacran is associated with

stratabound replacement of a marine volcano-sedimentary sequence. The nature of

mineralization encountered at San Matias is similar to other large high-grade copper-

gold deposits.

Technical Information

The technical information 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 a

geologist with over 15 years in the minerals mining, consulting, exploration and

research industries. Dr. Grainger is a Member of the Australian Institute of

Geoscientists (AIG) and Australian Institute of Mining and Metallurgy (AusIMM).

Copper-equivalent values have been calculated using a US$1,300 per ounce gold price

and US$2.50 per pound copper price. All samples have been prepared and assayed at

ALS laboratory in Medellin, Colombia with gold assays being carried out as 50-gram

Fire-Assays with AAS finish and all trace elements and base metals being assayed

using four Acid Digest with ICP-MS finish. Copper-equivalent values have been

calculated using a US$1,350 per ounce gold price and US$2.20 per pound copper

price. The company utilizes an industry-standard QA/QC program. HQ and NQ

diamond drill-core is sawn in half with one-half shipped to a sample preparation lab.

The remainder of the core is stored in a secured storage facility for future assay

verification. Blanks, duplicates and certified reference standards are inserted into the

sample stream to monitor laboratory per formance and a portion of the samples are

periodically checked for assayed result quality.

The Alacran preliminary 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. Inferred Mineral Resources are considered to be too

speculative geologically to have the economic considerations applied to them to be

categorized as Mineral Reserves. Mineral Resources that are not Mineral Reserves do

not have demonstrated economic viability.

Joint Venture Agreement

The San Matias Project is a joint venture between Cordoba and HPX, a private mineral

exploration company founded by mining entrepreneur Robert Friedland. HPX has

entered Phase Three of the Joint Ventur e Agreement, whereby HPX can earn a 65%

interest in the San Matias Project by completing a feasibility study.

About High Power Exploration

HPX is a privately owned, metals-focused exploration company deploying proprietary

in-house geophysical technologies to rapidl y evaluate mineral prospects. The HPX

technology cluster comprises systems for targeting, modelling, survey optimization,

acquisition, processing and interpretation. HPX has a highly experienced board and

management team led by Co-Chairman and Ch ief Executive Officer Robert Friedland,

President Eric Finlayson, a former head of exploration at Rio Tinto, and co-chaired by

Ian Cockerill, a former Chief Executive Officer of Gold Fields Ltd. For further

information, please visit www.hpxploration.com.

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 has a

joint venture with High Power Exploration on the highly prospective, district-scale San

Matias Copper-Gold Project located at sea level with excellent infrastructure and near

operating open-pit mines in the Department of Cordoba. For further information, please

visit www.cordobaminerals.com.

ON BEHALF OF THE COMPANY

Mario Stifano, President and CEO

Cordoba Minerals Corp.

Email: [email protected]

Website: www.cordobaminerals.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory

Organization of Canada accepts responsibility for the adequacy or accuracy of this

release.

Forward-Looking Statements

This news release includes certain “forward-looking information” within the meaning of

Canadian securities legislation. Forward-looking statements include predictions, projections

and forecasts and are often, but not always, identified by the use of words such as “seek”,

“anticipate”, “believe”, “plan”, “estimate”, "forecast", “expect”, "potential", "project", "target",

"schedule", 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. All statements other than statements of historical fact

included in this release, including, without limitation, statements regarding the potential of

the Company’s properties are forward-looking statements that involve various risks and

uncertainties. 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. Forward-looking statements are based on a number of material factors and

assumptions. Important factors that could cause actual results to differ materially from

Company’s expectations include actual exploration results, 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, uninsured risks,

regulatory changes, delays or inability to receive required approvals, and other exploration

or other risks detailed herein and from time to time in the filings made by the Company with

securities regulators. Although the Company has attempted to identify important factors

that could cause actual actions , events or results to differ from those described in forward-

looking statements, there may be other factors that cause such actions, events or results to

differ materially from those anticipated. There can be no assurance that forward-looking

statements will prove to be accurate and accordingly readers are cautioned not to place

undue reliance on forward-looking statements which speak only as of the date of this news

release. The Company disclaims any intention or obligation, except to the extent required

by law, to update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise.