Cardero Resource Corp. (fka CDYCF)

[Uranium]

Cardero Announces Maiden Inferred Resource Estimate for Sheini Hills Iron Project, Ghana

SRK Reports 1.3 Billion Tonnes grading 33.8% Iron including 1.05 Billion Tonnes Primary Ironstone and Hardcap @ 35.2% Iron and 0.27 Billion Tonnes Detrital Iron @ 28.2% Iron

......VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 11, 2013) - Cardero Resource Corp. ("Cardero" or the "Company") (CDU.TO)(NYSE MKT:CDY)(NYSE Amex:CDY)(CR5.F) announces the results of the maiden resource estimate for the Sheini Hills Iron Project, Ghana, undertaken by SRK Consulting (UK) Ltd. ("SRK"). SRK has reported an estimated inferred mineral resource of 1.3 Billion Tonnes ("Bt"), with mean grades of 33.8% Fe, 6.0% Al2O3, 37.3% SiO2 and 0.27% P, using a 15% cut-off grade, all of which falls within a Whittle optimization pit with a global strip ratio of 0.93.

Maiden Resource Estimate

SRK is preparing a National Instrument 43-101 ("NI 43-101") technical report, including a maiden resource estimate, for the Sheini Hills Iron Project in northeast Ghana ("SRK Report"). The maiden estimated mineral resource is calculated in accordance with CIM Standards on Mineral Resources and Reserves (CIM Guidelines) as set out in NI 43-101. The effective date of the SRK Report is January 7, 2013, and the completed SRK Report will be filed on SEDAR and made available through the Company''s website within 45 days of this news release. Investors are urged to review the SRK Report in its entirety once it becomes available.

In total, SRK has reported an inferred mineral resource of 1.3 Bt, with mean grades of 33.8% Fe, 6.0% Al2O3, 37.3% SiO2 and 0.27% P (at a cutoff of 15% Fe), all of which falls within a Whittle optimisation pit which has a global strip ratio of 0.93 (waste tonnes:ore tonnes) and which was generated by SRK to restrict the estimated inferred mineral resource to material which has potential to be economically exploited.