Cardero Options Mina Pirquitas Silver Project, Juyuy Province, Argentina

Mon Jan 7, 2008 2:51pm EST

* Reuters is not responsible for the content in this press release.

  VANCOUVER, BRITISH COLUMBIA, Jan 07 (MARKET WIRE) -- 
 Cardero Resource Corp. ("Cardero" or the "Company") (TSX: CDU)(AMEX:
CDY)(FRANKFURT: CR5) is pleased to announce that it has reached agreement
with Davcha Resources Pty. Limited ("Davcha"), a private company based in
Australia, to option Cardero's 100% owned Mina Pirquitas Silver Project
in Juyuy Province, north-west Argentina. The Company's property partially
surrounds the Pirquitas Project of Silver Standard Resources Inc. (see
map below).

    To view Figure 1 please click on the following link:
http://www.ccnmatthews.com/docs/fig1CDU.pdf

    Project Background

    Cardero's Mina Pirquitas Project is located close to the village of Mina
Pirquitas and approximately 108 kilometres by road from the town of Abra
Pampa. The project consists of one exploration concession (4,382
hectares) staked by Cardero in 2004. Cardero identified two targets in
the area based on regional structural targeting (Figure 2) using
satellite imagery, regional geophysical images and published geological
maps. The targets are based on north-trending antiformal fold hinges
intersected by a northwest-trending fault zone. To date, Cardero has not
conducted any exploration on the property.

    Historical Production

    There has been significant historical production in the area, with 12
mines operating at various times on the adjacent properties between 1935
and 1990. One of the largest mines was Mina San Miguel (Figure 2), which
was an underground operation exploiting a zone of sheeted veins and
extending to five levels, approximately 200 metres from surface. Total
historical production from the area is estimated at 775,000 kilograms
(25M oz) of silver and 9,000 tonnes of tin from placer deposits. An
additional approximately 18,000 tonnes of tin were mined from underground
(underground silver production figures are not available).

    Option Agreement

    Cardero and Davcha have reached agreement on the terms under which Davcha
may earn an interest in the Mina Pirquitas Project. The agreement
provides that Davcha may earn a 55% interest by incurring exploration
expenditures of USD 1,000,000 over 4 years, of which USD 50,000 must be
incurred in the first year. Following Davcha having earned its interest,
the parties will enter into a joint venture, and thereafter each party is
required to contribute its proportional share of further expenditures or
be diluted on a straight-line basis. The agreement is subject to the
execution of formal documentation (currently being drafted).

    Davcha has advised the Company that it intends to commence a phase I
exploration program in early 2008, consisting of detailed mapping,
trenching and surface sampling.

    To view Figure 2 please click on the following link:
http://www.ccnmatthews.com/docs/fig2CDU.pdf

    Qualified Person and Quality Control/Quality Assurance

    EurGeol Mr. Keith J. Henderson, Cardero's Vice President-Exploration and
a qualified person as defined by National Instrument 43-101, has reviewed
the scientific and technical information that forms the basis for this
news release. Mr. Henderson is not independent of the Company as he is an
officer and shareholder.

    About Cardero Resource Corp.

    The Company is currently exploring projects in Argentina, Mexico and
Peru. It is actively evaluating new gold, copper and iron projects, while
continuing to maintain an ongoing pipeline of prospects. The common
shares of the Company are currently listed on the Toronto Stock Exchange
(symbol CDU), the American Stock Exchange (symbol CDY) and the Frankfurt
Stock Exchange (symbol CR5). For further details on the Company readers
are referred to the Company's web site (www.cardero.com), Canadian
regulatory filings on SEDAR at www.sedar.com and United States regulatory
filings on EDGAR at www.sec.gov.

    On Behalf of the Board of Directors of CARDERO RESOURCE CORP.

    Hendrik van Alphen, President

    This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act and Section 27E of the Exchange Act.
Such statements include, without limitation, statements regarding the
costs, content and timing of future anticipated exploration programs and
the results thereof and the potential discovery and delineation of
mineral deposits/resources/reserves at the Company's Mina Pirquitas
project. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove to
be correct. Forward-looking statements are typically identified by words
such as: believe, expect, anticipate, intend, estimate, postulate,
potential and similar expressions, or are those, which, by their nature,
refer to future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of future
results or performance, and that actual results may differ materially
from those in forward-looking statements as a result of various factors,
including, but not limited to, variations in the nature, quality and
quantity of any mineral deposits that may be located, the inability of
the Company to obtain any necessary permits, consents or authorizations
required for its activities, the inability of the Company to produce
minerals from its properties successfully or profitably, the inability of
the Company to continue its projected growth, the inability of the
Company to raise the necessary capital to continue its operations or to
be able to fully implement its planned business strategies.

    All of the Company's Canadian public disclosure filings may be accessed
via www.sedar.com and its United States disclosure filings via
www.sec.gov and readers are urged to review these materials, including
the technical reports filed with respect to the Company's mineral
properties.

    This press release contains information with respect to adjacent or
similar mineral properties in respect of which the Company has no
interest or rights to explore or mine. The Company advises US investors
that the US Securities and Exchange Commission's mining guidelines
strictly prohibit information of this type in documents filed with the
SEC. Readers are cautioned that the Company has no interest in or right
to acquire any interest in any such properties, and that mineral deposits
on adjacent or similar properties are not indicative of mineral deposits
on the Company's properties.

    This press release is not, and is not to be construed in any way as, an
offer to buy or sell securities in the United States.

NR08-01


 
 Toronto Stock Exchange
has not reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this news release, which has been prepared by
management.

Contacts:
Cardero Resource Corp.
Quentin Mai
Manager - Corporate Communications & Investor Relations
1-888-770-7488 or (604) 408-7488
(604) 408-7499 (FAX)
Email: qmai@cardero.com
Website: www.cardero.com

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