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November 16, 2016: NR16-06

Cardero Stakes 425 Hectares of Additional Claims Adjacent to Zonia Copper Project, Arizona, U.S.A.

Vancouver, British Columbia-Cardero Resource Corp. ("Cardero" or the "Company") (TSXV: CDU, Frankfurt: CR5, OTCBB: CDYCF) reports that it has completed staking a total of 57 claims, the Silver Queen block, covering 424.5 hectares along the southeast edge of the Zonia Copper Project, Arizona, USA ("Zonia" or the "Project"; see Figure 1).

Detailed examination of historical reports and data led to the delineation of a prospective area, covering favourable geology and geophysical anomalies that do not appear to have been drill tested. The same rock types that are host to disseminated oxide copper at Zonia are reported to also occur on the new Silver Queen block. Structural evidence suggests the rocks may repeat themselves in a fold limb dipping to the southeast (Figure 2). This interpretation is corroborated by a 400 by 2700 metre aeromagnetic low parallel to the Zonia deposit, suggestive of magnetite-destructive alteration and possibly mineralization at depth. There are numerous historical adits and shafts excavated which historically exploited high-grade copper bearing structures along the edges of the anomaly, similar to historical workings on the Zonia property.


Figure 1: Map of the Silver Queen claim block relative to the Zonia property.


Figure 2: Total Field Aeromagnetic anomaly (flown by Alliance Mining Corp. in 2011)
on the Silver Queen claim block, relative to the Zonia property.

Next Steps

Cardero is planning to cover the area of interest described above with ground geophysics (induced polarization and magnetics), mapping, and soil and rock sampling. This work will cover the area of the drill-defined Zonia mineralization as well as the Silver Queen claims in order to put any new anomalies in context with the known mineralization at Zonia. This work will commence as soon as funding is in place and is estimated will cost approximately $200,000.

Qualified Person

John Drobe P.Geo., Cardero's Chief Geologist and a qualified person as defined by National Instrument 43-101, has reviewed the scientific information that forms the basis for this news release, and has approved the disclosure herein. Mr. Drobe is not independent of the Company as he is a shareholder and holds stock options.

ABOUT CARDERO RESOURCE CORP.

The common shares of the Company are currently listed on the TSX Venture Exchange (symbol CDU), the Frankfurt Stock Exchange (symbol CR5) and OTCBB (symbol CDYCF). For further details on the Company readers are referred to the Company's web site (www.cardero.com), Canadian regulatory filings on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.

"Henk van Alphen" (signed)

Henk van Alphen, CEO and President

Contact Information:
Marla Ritchie
604 408 7488

General Contact:
Email: info@cardero.com
Toll Free: 1-888-770-7488
Tel: 604 408-7488
Fax: 604 408-7499

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This news release includes certain information that may be deemed "forward looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the potential of Zonia general future plans and objectives for the Zonia project, the completion of the Plan and receipt of shareholder and regulatory approval therefore, the likelihood of receipt of value from the Retained Right, the availability of financing to the Company and the Company's plan in relation to its listing review are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include 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, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.


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