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February 26, 2002:

Mr. David Shaw and Mr. Joe Bourque Join Management Team

Cardero Resource Corp. (the "Company"), is pleased to announce two new appointments to its management. Mr. David Shaw has joined the Company as manager of exploration and Mr. Joe Bourque has joined the Company as manger of corporate development.

David Shaw has a Ph.D. in structural geology from Carlton University and an Honours degree in geology from the University of Sheffield, England. His career in mineral exploration since 1978 has included senior corporate finance analyst for Yorkton Securities, manager of resource development for Charlton Securities and in-house structural geologist for Chevron Resources.

Joe Bourque has been involved in investment advisory industry for 37 years. His last two appointments were senior vice president for Midland Walwyn and HSBC in Victoria, B.C.

"It is both a pleasure and an honour to welcome Joe and David to Cardero's management. The Company is taking great strides to increase its holdings in Argentina and Mexico. These new appointments will notably enhance the exposure and capacity of the Company", said Henk Van Alphen, President of Cardero.

The Company, subject to regulatory acceptance, has granted incentive stock options to directors and employees to purchase up to an aggregate of 550,000 shares at 35cents for a period of 2 years.

On Behalf of the Board of Directors of

CARDERO RESOURCE CORP.

Henk Van Alphen, President

Contact Information:

Phone 604.408.7488
Fax 604.408.7499
Email hvanalphen@cardero.com

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release which has been prepared by management.