Cardero Updates Project Development Plan

Cardero Resource Corp. (TSX:CDU)(NYSE Amex:CDY)(FRANKFURT:CR5) updated on company’s corporate strategy and key mineral projects following the recently completed sale of the Pampa de Pongo Iron Deposit in Peru for total gross proceeds of USD 100 million.

The press release is quoted as saying:

An exploration drill program is currently underway on the Company’s Baja Iron Oxide-Copper-Gold project in Mexico and a follow-up drill program is also planned for the Organullo Gold project in Argentina. A resource definition drill program has recently been initiated on the Longnose Iron-Titanium Deposit, as well as an exploration drill program on the TiTac Iron-Titanium-Vanadium Deposit, both in Minnesota.

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