Cardero Announces Results From 2013 AGM

NEWS RELEASE.

April 29, 2013: Vancouver, B.C. – Cardero Resource Corp. (Stock Profile – TSX:CDU & NYSE-MKT:CDYannounces that all motions put forward for approval at its 2013 Annual General Meeting held April 25th in Vancouver, British Columbia (“AGM”) passed with significant shareholder support.

2013 Annual General Meeting Results

At the AGM, the following individuals were re-elected as the directors of the Company: Paul Matysek, Stephan Fitch, Ryan Dunfield, Leonard Harris, and the Company’s President & CEO, Hendrik Van Alphen. All directors were re-elected with the support of over 97% of the votes cast. PricewaterhouseCoopers, LLP, Chartered Accountants, were also appointed as the auditors of the Company for the fiscal year ending October 31, 2013.

The Company’s shareholders also approved an amendment to the Articles of the Company which implements a requirement for advance notice in connection with the nomination of individuals for election as director of the Company (“Advance Notice Requirements”). The purpose of the Advance Notice Requirements is to provide shareholders, directors and management of the Company with a clear framework for nominating directors of the Company.

Issuance of Bonus Shares to Luxor Capital Group, LP.

The Company also announces that, on April 25, 2013, the Company issued 2,000,000 common shares of the Company (the “Bonus Shares”) to affiliates of Luxor Capital Group, LP. The Bonus Shares were issued in connection to a placement of senior secured notes (“Notes”) in the aggregate principal amount of USD 5,500,000 with certain affiliates of Luxor Capital Group, LP. The Notes were issued on April 22, 2013, have a one year term and were issued at a 9.1% discount to net the Company USD 5,000,000 ($5,077,020) with interest accruing at the rate of 10% per annum, payable semi-annually (13% after an event of default). The Bonus Shares will be subject to a hold period in Canada of four months from the date of issuance, plus additional restrictions under United States securities laws.

Mr. Henk Van Alphen, President and CEO of the Company, stated: “We are extremely happy to have the Luxor Capital Group as our major shareholder (12.3%), and now, with their participation as a lender to the Company, it confirms the confidence they have in the Carbon Creek Metallurgical Coal Project. Luxor Capital Group is a well-known mining investor with approximately $5BB in capital under management. They made their first investment in Cardero in 2008 and have been a consistent supporter of our Company and our management team.”

To learn more about Cardero – CLICK HERE.

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