Cordoba Minerals Intersects 108 metres of 1.26% Copper and 0.87 g/t Gold at the Alacran Deposit Drilling Results Demonstrate the Potential to Significantly Expand the Initial Inferred Mineral Resource at Alacran

Cordoba Minerals Intersects 108 metres of 1.26% Copper

and 0.87 g/t Gold

at the Alacran Deposit

Drilling Results Demonstrate the Potential to Significantly

Expand the Initial Inferred Mineral Resource at Alacran

TORONTO, ONTARIO, January 11, 2017: Cordoba Minerals Corp. (TSX-V:

CDB) (“Cordoba” or the “Company”) and its joint-venture partner, High

Power Exploration Inc. ("HPX"), a private mineral exploration company

indirectly controlled by mining entr epreneur Robert Fr iedland’s Ivanhoe

Industries, LLC, are pleased to announ ce that drilling at the San Matias

Copper-Gold Project in Colombia has si gnificantly expanded the volume of

near-surface copper-gold mineralizatio n at the Alacran Deposit. Copper

mineralization at Alacran ha s now been intersected over a strike length of 1.3

kilometres, to widths of up to 400m, and extends from surface to depths of

more than 260 metres below surface.

Recent Alacran drilling highlights (ref er to Table 1 for complete drilling

results):

 ACD028:

 24 metres (m) @ 1.64% Copper (Cu) + 0.62g/t Gold (Au) (from

42 m), including:

 6 m @ 1.97% Cu + 0.91g/t Au (from 50 m), and

 4 m @ 3.69% Cu + 1.06g/t Au (from 62 m)

 ACD032:

 66 m @ 1.20% Cu + 0.23g/t Au (from 46 m), including:

 14 m @ 3.31% Cu + 0.26g/t Au (from 60 m), and

 6 m @ 1.95% Cu + 0.72g/t Au (from 98 m)

 ACD033:

 108 m @ 1.26% Cu + 0.87g/t Au (from 0 m), including:

 26 m @ 1.48% Cu + 1.37g/t Au (from 20 m), and

 26 m @ 3.18% Cu + 1.62g/t Au (from 62 m)

 ACD035:

 34 m @ 0.75% Cu + 0.47g/t Au (from 6 m), including:

 18 m @ 1.20% Cu + 0.74g/t Au (from 22 m)

 60 m @ 0.40% Cu + 0.21g/t Au (from 122 m)

Hole ACD033 (108 m @ 1.26 % Cu + 0.87g/t Au) has returned one of the

best intersections to date on the proj ect with mineralization outside the

current Inferred Mineral Resource shell. The recent drilling results

demonstrate the potential to signifi cantly increase the current inferred

mineral resource at Alacran of 53. 5 million tonnes of 0.70% copper and

0.37 g/t gold announced in a press rel ease January 5, 2017 (see Figure

7). The area around hole ACD033 is a pr iority target to follow-up with

additional drilling to the east, where the mineralization remains open.

Prior to the current drilling program , the mineralization at Alacran was

believed to be striking in a north-s outh direction, with a sub-vertical

westerly dip. This drillin g campaign has shown th at the mineralization

dips more moderately to the west, c onformable to the host stratigraphy,

adding additional shallow mineralization up-dip to the east. Moving from

north to south, the host stratigrap hy appears to steepen while the

mineralization changes fr om pyrrhotite-pyrite-chalcopyrite to magnetite-

chalcopyrite. Based on magnetic a nd induced polarization surveys,

attractive exploration targets remain down-plunge and along strike.

Mario Stifano, President and CEO of Cordoba, commented: “These drill

results highlight the potential for Al acran to host a large high-grade,

open-pittable, copper–gol d deposit. Current dril ling at Alacran will

continue to test the eastern extensi ons of the deposit as well as priority

exploration to identify and target the potential source for the

mineralization at Alacran.”

Alacran Copper-Gold System

The Alacran copper-gold system is located within the San Matias Copper-Gold Project in the

Department of Cordoba, Colombia. The San Matias Copper-Gold Project comprises a

20,000-hectare land package on the inferred nort hern 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.

The Alacran system is located on a topographic high in gently rolling topography, optimal for

potential open-pit mining. Access and infrastruc ture are considered favourable. Alacran is

approximately two kilometres southwest of the Company’s Montiel porphyry copper-gold

discovery, where drilling interested 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

interested 87 metres of 0.62% copper and 0.51 g/t gold (Figure 1). 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 zones and associat ed disseminations (Figure 2). The copper-gold

mineralization is composed of multiple overprinting hydrothermal events with the main ore

phase comprised of chalcopyrite-pyrrhotite-pyrite that appears to overprint an early

magnetite metasomatic event. 

Technical Information

The technical information has been reviewed and verified by Christian J. Grainger, PhD, a

Qualified Person for the purpose of NI 43-101. Dr. Grainger is a geologist with over 15 years

in the minerals mining, consulting, exploratio n and research industries. Dr. Grainger is a

Member of the Australian Institute of Geoscientists (AIG).

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

US$2.50 per pound copper price.

Cordoba utilizes a comprehensive industry- standard QAQC program. HQ and NQ diamond

drill core is sawn in two halves, and one half is sampled and shipped to a sample preparation

laboratory. The other half of the core is stored in a secure facility for future assay verification.

All samples are prepared at ALS Minerals Laboratory in Medellin, Colombia, and assayed at

ALS Minerals Laboratory in Lima, Peru. ALS Minerals operates in accordance with ISO/IEC

17025.

Gold is determined by 50 g fire assay with an AAS finish. An initial multi-element suite

comprising copper, molybdenum, silver and addi tional elements is analyzed by four-acid

digest with an ICP-ES or ICP-MS finish. All samples with copper values over 2000 ppm are

re-assayed by a method for higher grades, which also uses a four-acid digest with an ICP-ES

finish.

Cordoba also performs check assays on a regu lar basis at an independent laboratory. The

company regularly conducts independent onsite reviews and laboratory audits to ensure

procedural compliance for maintaining industry-standard best practices. Selected samples of

elevated gold grades have been submitted to ALS Lima for metallic screen analysis for the

possible presence of coarse gold, assays are pending.

Joint Venture Agreement

The San Matias Project is a joint venture between Cordoba and HPX. HPX has earned a

51% interest in the San Matias Project by spending a cumulative total of C$19 million on

exploration expenditures on the project. Cordoba and HPX have entered Phase Three of

their Joint Venture Agreement, whereby HPX can earn a 65% interest in the project by

completing a Feasibility Study.

About High Power Exploration (HPX)

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

house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX

technology cluster comprises geological and geophysical systems for targeting, modelling,

survey optimization, acquisition, proces sing and interpretation. HPX has a highly

experienced board and management team led by Co-Chairman and Chief 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 hi ghly 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.

Table 1: Diamond drillhole results at the Alacran Project*

HoleID From

(m)

To

(m)

Interval

(m)

%

eCu Summary %eCu

Cutoff

ACD023 

   46  55  9  0.41 9m @ 0.22% Cu + 0.25g/t Au 

(from 46m)  0.30% 

   83  91  8  1.08 8m @ 0.77% Cu + 0.41g/t Au 

(from 83m)  0.30% 

including  83  90  7  1.19 7m @ 0.87% Cu + 0.42g/t Au 

(from 83m)  1.00% 

and  83  85  2  2.19 2m @ 1.72% Cu + 0.62g/t Au 

(from 83m)  2.00% 

   101  133  32  0.33 32m @ 0.3% Cu + 0.04g/t Au 

(from 101m)  0.30% 

   147  165  18  0.35 18m @ 0.27% Cu + 0.11g/t Au 

(from 147m)  0.30% 

ACD024 

   0  11  11  0.52 11m @ 0.22% Cu + 0.39g/t Au 

(from 0m)  0.30% 

   19  29  10  0.37 10m @ 0.31% Cu + 0.08g/t Au 

(from 19m)  0.30% 

   93  117  24  0.69 24m @ 0.45% Cu + 0.32g/t Au 

(from 93m)  0.30% 

including  93  103  10  1.08 10m @ 0.65% Cu + 0.57g/t Au 

(from 93m)  1.00% 

   141  173  32  0.50 32m @ 0.42% Cu + 0.1g/t Au 

(from 141m)  0.30% 

including  169  173  4  1.25 4m @ 1.03% Cu + 0.28g/t Au 

(from 169m)  1.00% 

ACD025 

   0  6  6  0.54 6m @ 0.3% Cu + 0.31g/t Au 

(from 0m)  0.30% 

   86  112  26  0.72 26m @ 0.32% Cu + 0.52g/t Au 

(from 86m)  0.30% 

including  92  96  4  1.43 4m @ 0% Cu + 1.88g/t Au 

(from 92m)  1.00% 

and  108  110  2  2.23 2m @ 1.6% Cu + 0.83g/t Au 

(from 108m)  2.00% 

   122  134  12  0.59 12m @ 0.33% Cu + 0.34g/t Au 

(from 122m)  0.30% 

   254  260  6  1.46 6m @ 1.23% Cu + 0.3g/t Au 

(from 254m)  0.30% 

including  254  258  4  1.78 4m @ 1.53% Cu + 0.32g/t Au 

(from 254m)  1.00% 

and  256  258  2  2.51 2m @ 2.14% Cu + 0.49g/t Au 

(from 256m)  2.00% 

ACD026     30  40  10  0.52 10m @ 0.49% Cu + 0.04g/t Au 

(from 30m)  0.30% 

HoleID From

(m)

To

(m)

Interval

(m)

%

eCu Summary %eCu

Cutoff

   48  84  36  0.79 36m @ 0.56% Cu + 0.31g/t Au 

(from 48m)  0.30% 

including  64  80  16  1.38 16m @ 0.95% Cu + 0.58g/t Au 

(from 64m)  1.00% 

   98  132  34  0.75 34m @ 0.41% Cu + 0.45g/t Au 

(from 98m)  0.30% 

including  126  132  6  1.50 6m @ 0.38% Cu + 1.47g/t Au 

(from 126m)  1.00% 

ACD027 

   18  54  36  1.16 36m @ 0.85% Cu + 0.4g/t Au 

(from 18m)  0.30% 

including  22  42  20  1.64 20m @ 1.28% Cu + 0.47g/t Au 

(from 22m)  1.00% 

and  22  24  2  3.09 2m @ 2.32% Cu + 1.01g/t Au 

(from 22m)  2.00% 

and  38  40  2  2.93 2m @ 2.49% Cu + 0.58g/t Au 

(from 38m)  2.00% 

   118  140  22  0.58 22m @ 0.46% Cu + 0.16g/t Au 

(from 118m)  0.30% 

   164  174  10  0.33 10m @ 0.3% Cu + 0.04g/t Au 

(from 164m)  0.30% 

ACD028 

   0  30  30  0.40 30m @ 0.29% Cu + 0.14g/t Au 

(from 0m)  0.30% 

   42  66  24  2.11 24m @ 1.64% Cu + 0.62g/t Au 

(from 42m)  1.00% 

including  50  56  6  2.67 6m @ 1.97% Cu + 0.91g/t Au 

(from 50m)  2.00% 

and  62  66  4  4.49 4m @ 3.69% Cu + 1.06g/t Au 

(from 62m)  2.00% 

ACD029 

   178  190  12  0.91 12m @ 0.53% Cu + 0.51g/t Au 

(from 178m)  0.30% 

including  184  190  6  1.16 6m @ 0.76% Cu + 0.53g/t Au 

(from 184m)  1.00% 

ACD030 

   192  260  68  0.66 68m @ 0.43% Cu + 0.31g/t Au 

(from 192m)  0.30% 

including  210  212  2  3.41 2m @ 1.49% Cu + 2.53g/t Au 

(from 210m)  2.00% 

and  218  222  4  1.72 4m @ 0.91% Cu + 1.06g/t Au 

(from 218m)  1.00% 

ACD031 

   0  10  10  0.36 10m @ 0.24% Cu + 0.15g/t Au 

(from 0m)  0.30% 

   20  34  14  0.64 14m @ 0.59% Cu + 0.06g/t Au 

(from 20m)  0.30% 

   44  54  10  0.76 10m @ 0.62% Cu + 0.19g/t Au 

(from 44m)  0.30% 

   84  90  6  0.86 6m @ 0.36% Cu + 0.66g/t Au 

(from 84m)  0.30% 

   98  112  14  1.49 14m @ 1.29% Cu + 0.26g/t Au 

(from 98m)  0.30% 

HoleID From

(m)

To

(m)

Interval

(m)

%

eCu Summary %eCu

Cutoff

including  98  102  4  3.92 4m @ 3.66% Cu + 0.35g/t Au 

(from 98m)  1.00% 

and  100  102  2  6.29 2m @ 5.8% Cu + 0.64g/t Au 

(from 100m)  2.00% 

ACD032 

   4  16  12  0.37 12m @ 0.33% Cu + 0.06g/t Au 

(from 4m)  0.30% 

   46  112  66  1.37 66m @ 1.2% Cu + 0.23g/t Au 

(from 46m)  0.30% 

including  48  54  6  1.53 6m @ 1.18% Cu + 0.45g/t Au 

(from 48m)  1.00% 

and  48  50  2  2.10 2m @ 1.59% Cu + 0.67g/t Au 

(from 48m)  2.00% 

and  60  74  14  3.51 14m @ 3.31% Cu + 0.26g/t Au 

(from 60m)  1.00% 

and  62  74  12  3.79 12m @ 3.58% Cu + 0.27g/t Au 

(from 62m)  2.00% 

and  98  104  6  2.50 6m @ 1.95% Cu + 0.72g/t Au 

(from 98m)  1.00% 

and  98  102  4  3.12 4m @ 2.51% Cu + 0.8g/t Au 

(from 98m)  2.00% 

   120  138  18  0.60 18m @ 0.44% Cu + 0.22g/t Au 

(from 120m)  0.30% 

ACD033 

   0  108  108  1.89 108m @ 1.26% Cu + 0.87g/t 

Au (from 0m)  0.30% 

including  20  46  26  2.52 26m @ 1.48% Cu + 1.37g/t Au 

(from 20m)  1.00% 

and  24  40  16  3.18 16m @ 1.89% Cu + 1.7g/t Au 

(from 24m)  2.00% 

and  62  88  26  4.26 26m @ 3.18% Cu + 1.62g/t Au 

(from 62m)  1.00% 

and  64  84  20  5.24 20m @ 3.91% Cu + 1.99g/t Au 

(from 64m)  2.00% 

and  104  108  4  1.28 4m @ 1.03% Cu + 0.32g/t Au 

(from 104m)  1.00% 

ACD034 

   0  48  48  0.61 48m @ 0.46% Cu + 0.2g/t Au 

(from 0m)  0.30% 

including  42  48  6  1.29 6m @ 1.14% Cu + 0.2g/t Au 

(from 42m)  1.00% 

   156  180  24  0.81 24m @ 0.59% Cu + 0.29g/t Au 

(from 156m)  0.30% 

including  164  170  6  1.16 6m @ 0.84% Cu + 0.42g/t Au 

(from 164m)  1.00% 

ACD035 

   6  40  34  1.10 34m @ 0.75% Cu + 0.47g/t Au 

(from 6m)  0.30% 

including  22  40  18  1.77 18m @ 1.2% Cu + 0.74g/t Au 

(from 22m)  1.00% 

and  22  24  2  2.92 2m @ 1.29% Cu + 2.14g/t Au 

(from 22m)  2.00% 

HoleID From

(m)

To

(m)

Interval

(m)

%

eCu Summary %eCu

Cutoff

and  30  34  4  2.16 4m @ 1.18% Cu + 1.29g/t Au 

(from 30m)  2.00% 

and  38  40  2  2.14 2m @ 2.03% Cu + 0.15g/t Au 

(from 38m)  2.00% 

   98  108  10  0.76 10m @ 0.53% Cu + 0.3g/t Au 

(from 98m)  0.30% 

including  100  104  4  1.33 4m @ 0.87% Cu + 0.61g/t Au 

(from 100m)  1.00% 

   122  182  60  0.56 60m @ 0.4% Cu + 0.21g/t Au 

(from 122m)  0.30% 

including  170  174  4  3.05 4m @ 2.27% Cu + 1.03g/t Au 

(from 170m)  1.00% 

and  170  172  2  4.59 2m @ 3.59% Cu + 1.31g/t Au 

(from 170m)  2.00% 

*Intercepts calculated using a:

0.3% eCu cutoff with 6m maximum internal dilution and a 6m minimum width.

1.0% eCu cutoff uses 4m maximum internal dilution and 4m minimum width.

2.0% eCu cutoff uses 2m maximum internal dilution and 2m minimum width.

The “includes” & “and” intercepts are found within the preceding intercept, and represent

higher grade portions therein

True width intervals of the mineralization are interpreted as being between 90-100% true

widths from oriented diamond drill core and sectional interpretation

Copper equivalent (eCu) calculations assume a US$2.50/lb copper price and a US$1300/Oz

gold price

For intercept calculations: sample assays of copper, gold and copper equivalent are all

capped to 10% Cu, 10 g/t Au, and 10 % eCu.

Figure 1: Project Location and licenses on magnetics