Cardero Resource Corp. ("Cardero" or the "Company") -- (TSX: CDU, NYSE-A: CDY, Frankfurt: CR5) announced very positive initial drill results from its Ferro-Titanium TiTac and Longnose projects in northern Minnesota, USA. 

Initial results indicate the presence of semi-massive to massive iron and titanium oxide and associated copper mineralization over exceptionally broad intervals. Cardero has been aggresively drilling and evaluating potential resources at TiTac and Longnose - both projects previously having been subject to historical exploration with Longnose, according to BHP Minerals (now BHP Billiton) being "the largest known ilmenite (FeTiO3) resource in North America." 

The Company has completed a total of 36 diamond drill holes at the projects for a total of 11,506 metres with significant iron-titanium and copper mineralization being intersected in the majority of the holes at both projects. Phase one drilling has been completed and SRK Consulting of Vancouver, Canada has been retained to prepare an independent NI 43-101 resource estimate upon receipt of all remaining assays. Mineralization remains open for expansion and, contingent on results, it is anticipated that additional resource definition and expansion drilling will re-commence in late-2010. 

Drilling Program 

The Company initiated exploration and resource drilling in mid-February 2010, aiming to complete a maiden NI 43-101 compliant resource estimate on both projects. Drilling in the Spring was hampered by unseasonably warm weather and early ground break-up. As a result, drilling at the higher priority Longnose was severely curtailed with the drill moving to drier areas of the project. Consequently, drilling has focussed on the lower priority TiTac project, while drilling at Longnose is now scheduled to recommence in late-2010 once the ground is frozen. 

A total of 36 drillholes (including two abandoned) have been completed of which 6 provided an initial test of the Longnose project where the moderately dipping mineralized unit was intersected in all four holes. The remaining 30 holes focused on the TiTac project.

 A total of 17 drillholes were originally planned for TiTac and drilling commenced on TiTac North (total of 8 holes drilled). Holes 3 to 8 intersected the main intrusion with oxide mineralization ranging from 5% to 60% total oxide mineralization (predominantly ilmenite and magnetite). Due to spring breakup, additional drilling on TiTac North was deferred until the 2010-2011 winter drilling season. Six drillholes were originally planned for TiTac South but, due to extensive mineralized oxide intersections, an additional 17 holes were drilled, for a total of 23 holes, on TiTac South. The additional drillholes were targeted in consultation with resource specialists of SRK Consulting. Highlights are reported here. Additional results are pending from holes 14 to 19, and the remainder of the holes are currently being sampled on site. 

Future Work 

Winter drilling, scheduled to commence in late 2010, will focus on completion of resource definition drilling at Longnose and TiTac North. The program is expected to total 5,000-to-15,000 metres, in addition to the 11,506 metres already completed. The resource estimate at TiTac South could be completed by the end of 2010. Additional NI 43-101 compliant resource estimates will then be completed for Longnose and TiTac North as results become available.

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