Cordoba Minerals Awards US$19 Million Detailed Design Engineering Contracts for Flagship Alacran Project in Colombia

Rhea-AI Summary

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has awarded US$19 million in detailed design engineering contracts for its flagship Alacran Project in Colombia. The contracts are distributed as follows:

- JCHX Mining Management Co., : US$15.8 million for processing and on-site facilities
- BBA: US$1.3 million for open-pit mine design
- Knight Piésold Consulting: US$1.9 million for waste and water management facility

The work program is set to begin in August 2024, with construction anticipated to start the following year. CEO Sarah Armstrong-Montoya expressed confidence in the selected engineering groups, citing their proven track records and familiarity with the Alacran Project.

Positive

• Awarding of US$19 million in detailed design engineering contracts for the Alacran Project
• Engagement of experienced firms with proven track records in mine development
• JCHX's dual role as a cornerstone investor and joint venture partner
• Project advancing towards construction stage, anticipated to commence next year

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - July 25, 2024) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise "Cordoba" or the "Company"), is pleased to announce the awards of the detailed design engineering contracts for the Alacran Project in Colombia.

Cordoba has awarded JCHX Mining Management Co., Ltd. ("JCHX") a US$15.8 million contract for the detailed engineering design and procurement of the processing and on-site facilities at the Alacran Project. In addition, detailed engineering design for the open-pit mine has awarded to consulting engineering firm, BBA, for US$1.3 million, and detailed engineering design for the waste and water management facility has awarded to Knight Piésold Consulting for US$1.9 million. The work program is expected to commence in August 2024.

"We look forward to kicking off the detailed engineering design process next month with the selected engineering groups. JCHX has a proven track record in mine development and construction, and their familiarity with the Company and the Alacran Project as both a cornerstone investor and a reliable joint venture partner has made it a logical decision for them to lead the program. BBA and Knight Piésold were instrumental in delivering the robust 2023 Feasibility Study for Alacran," commented Ms. Sarah Armstrong-Montoya, President and CEO of Cordoba. "We have confidence in their capacities and experience to advance the Alacran Project towards the construction stage, which is anticipated to commence next year."

About Cordoba

Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a 51% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint Venture and Earn-In Agreement. For further information, please visit www.cordobaminerals.com.

ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer

Information Contact

Ran Li +1-604-689-8765
info@cordobamineralscorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the timing of the detailed design work program and the commencement of construction of the Alacran Project. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. There can be no assurance that such statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, uncertainties relating to epidemics, pandemics and other public health crises, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217780

FAQ

What is the total value of the engineering contracts awarded by Cordoba Minerals (CDBMF) for the Alacran Project?

Cordoba Minerals (CDBMF) has awarded US$19 million in detailed design engineering contracts for the Alacran Project in Colombia.

Which company received the largest contract for the Alacran Project, and for what amount?

JCHX Mining Management Co., received the largest contract worth US$15.8 million for the detailed engineering design and procurement of the processing and on-site facilities at the Alacran Project.

When is the detailed engineering design work for the Alacran Project expected to begin?

The detailed engineering design work for the Alacran Project is expected to commence in August 2024.

What is the anticipated timeline for the construction of the Alacran Project to begin?

Construction of the Alacran Project is anticipated to commence in 2025, the year following the start of the detailed engineering design work.