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The Spine property consist of a single claim, 123 Ha in size, located 15 km northeast of Trout Lake on Spine Mountain, above treeline and with good rock exposure. Mineral Mountain Resources contour soil sampled in detail (5m spacing) the large orange and white gossans developed within black phyllite and obtained highly anomalous Cu, Zn, Au and Ni soil values. Peak values were 4119 ppm Cu, > 1% Zn, and 3678 ppm Ni along one line, and another had up to 703 ppm Cu, > 1% Zn, and 7244 Ni (Assessment Report 32242).

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.