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The Nico property consist of a single claim, 245 Ha in size, located 25 km northeast of Beaton, B.C.. , and 1 km east of Mount Darling. Similar to Spine, it is located in the alpine and has good rock exposure. Detailed (5m spacing) soil sampling by Mineral Mountain in 2011 obtained anomalous Ni, Co, Cr and Cu associated with a narrow layer of argillite. The nickel appears to come from nickel arsenide.

Cardero has not independently verified this sampling in the field but, based on reviewing the report, considers the samples were appropriately collected, assayed, and compiled following industry standards. Nonetheless, the results should not be relied upon.

Sampling Procedures and Quality Assurance and Quality Control

The work program at the Kootenay Project was designed and supervised by M. McClaren, P.Geo., J.M. Dawson, P.Eng., and John Drobe, P.Geo., the Company's Chief Geologist. Soil samples were taken from the 'B' horizon whenever possible and were collected using a mattock or shovel. Sample sites were labelled with blue and orange flagging tape with the number recorded on the tape. Soil samples were placed in waterproof kraft envelopes, after which samples were dried and collated. All soil samples were then shipped in sealed bags to ALS Minerals laboratories in either Kamloops or North Vancouver, B.C. The samples were dried at <60 degrees C. and sieved to -180 microns (Prep 41), then analysed by ICP-MS for 51 elements (method AuME--TL43).

This initial sampling program did not include a comprehensive QA/QC programme; however, ALS Minerals is an ISO 17025 registered laboratory and inserted blanks, standards and duplicates following their QA/QC protocol. In addition, follow-up field duplicate samples were collected from the anomalous soil lines, both high and low, and the results returned satisfactory values.

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 an officer, a shareholder and hold incentive stock options.

Cautionary Note Regarding Forward-Looking Statements

Forward Looking Information: This webpage 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 the Kootenay project, general future plans and objectives for the Kootenay project, the availability of financing to the Company and the Company's plans in relation to exploration programs and exercising its options regarding the Kootenay project 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 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 webpage is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.