Cordoba Minerals Intersects 4,440 g/t Gold, 10.25% Copper, 24.7% Zinc and 347 g/t Silver over 0.9 Meters in New Discovery

Cordoba Minerals Intersects 4,440 g/t Gold, 10.25%

Copper, 24.7% Zinc and 347 g/t Silver over 0.9 Meters

in New Discovery

TORONTO, ONTARIO, January 23, 2017 : Cordoba Minerals Corp. (TSX-V:

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

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

company indirectly controlled by mining entrepreneur Robert Friedland’s

Ivanhoe Industries, LLC, are pleased to announce that drilling at the San Matias

Copper-Gold Project in Colombia has intersected bonanza gold veins at

Alacran. The discovery of this new style of high grade gold mineralization

represents a separate and significant exploration opportunity at Alacran.

Alacran drilling highlights:

 ACD036:

 0.90 meters (m) @ 4, 440 g/t gold (Au) + 10. 25% copper (Cu) +

24.70% zinc (Zn) + 347 g/t silver (Ag)

 Part of

 5.00 m @ 800.90 g/t Au + 3.70% Cu + 8.60% Zn + 88.63 g/t Ag

 136.00 m @ 1.00% Cu + 0.56 g/t Au (cut*)

The 0.90 meter bonanza grade gold inters ection in ACD036 is hosted in a

late stage, chalcopyrite-sphalerit e-carbonate-coarse gold vein that

overprints earlier chal copyrite-pyrrhotite coppe r-gold mineralization

(Figure 1). The high-grade gold vein is similar to Carbonate Base Metal

(CBM) vein systems found globally, including Barrick Gold’s Porgera gold

mine and also Continental Gold’s Bu ritica deposit, located south of

Cordoba’s licenses along the Mid Cauca belt in Colombia.

The discovery of these st ructurally controlled high-grade gold rich veins

represents an important new target to add extremely high value material

within the existing inferred copper -gold mineral resource shell and

resource expansion. The CBM Vein in ACD036 was intersected at a depth

of approximately 90 meters below surf ace. Copper-gold mineralization at

Alacran has now been intersected over a strike length of 1.3 kilometres, to

widths of up to 400 meters, and extends from surface to depths of more

than 260 meters below surface.

Mario Stifano, President and CEO of Cordoba, co mmented: “We are

excited by the discovery of bonanza gr ade gold in CBM veins as this new

style of mineralization adds anothe r significant exploration front to

potentially increase the size and scope of mineraliza tion at Alacran. We

are still in the very early stages of our aggressi ve exploration program at

our district scale San Ma tias copper-gold project, but our best in class

exploration team and HPX’s proprietary Typhoon technology, reminds us

that anywhere, anytime, there is pote ntial for a significa nt discovery at

San Matias”.

Drilling at Alacran will now focus on testing the up-dip eastern extensions

of the deposit, the ext ent of the newly discover ed CBM veins including

structural controls and the potenti al 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 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.

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

potential open-pit mining. Access and infrastructure are considered favourable. Initial inferred

resources at Alacran are 53.5 million tonnes of 0.70% copper and 0.37 g/t gold . Alacran is

approximately two kilometers 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

kilometers northwest of the Costa Azul por phyry copper-gold discovery, where drilling

interested 87 metres of 0.62% copper and 0.51 g/t gold (Figure 2). 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 associated dissem inations. 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, exploration and research industries. Dr. Grainger is a

Member of the Australian Institute of Geoscientists (AIG).

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

US$2.50 per pound copper price.

Cordoba utilizes a comprehensive industry-st andard 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. Al l 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.

Selected samples of elevated gold grades are submitted to ALS Lima for metallic screen

analysis to accurately represent grades given the presence of coarse gold.

The exact location of ACD036 drill hole collar has not been disclosed for strategic business

purposes.

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 bur ied geophysical targets. The HPX technology

cluster comprises geological and geophysical sy stems for targeting, modelling, survey

optimization, acquisition, processing 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 expl oration 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 mi neral 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.

Table 1: Diamond drillhole results at the Alacran Project*

HoleID From To Interval %eCu

capped*

%Cu

capped*

Au (g/t)

capped*

Au (g/t)

uncapped Ag (g/t) %Zn Cutoff

ACD036 2 16 14 0.34 0.22 0.16 0.16 0.89 0.01 0.3% eCu

ACD036 46 182 136 1.38 1.00 0.56 10.93 0.50 0.3% eCu

ACD036 including 78 124 46 2.68 1.94 1.17 24.74 1.25 1.0% eCu

ACD036 including 86 108 22 3.28 2.58 0.93 0.93 26.55 0.43 2.0% eCu

ACD036 including 112 117 5 4.94 3.65 3.50 800.90 88.63 8.60 2.0% eCu

ACD036 224 242 18 0.51 0.28 0.30 0.30 1.09 0.01 0.3% eCu

*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: Image of strong coarse visible gold in sphalerite-carbonate vein cutting chalcopyrite

in ACD036

Figure 2: Project Location and licenses on magnetics.

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 Inve stment 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-lookin g 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 st atements 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 th ose 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 fact ors 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 plac e 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.