Creating a Leading Copper-Gold Company Corporate Presentation July - - PowerPoint PPT Presentation

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Creating a Leading Copper-Gold Company Corporate Presentation July - - PowerPoint PPT Presentation

S a n M a t i a s TSXV: CDB, OTCQB: CDBMF Creating a Leading Copper-Gold Company Corporate Presentation July 2019 C CAUTIONARY STATEMENT o r d o b a These presentation slides (the Slides) do not comprise a prospectus or


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S a n M a t i a s

TSXV: CDB, OTCQB: CDBMF

Creating a Leading Copper-Gold Company

Corporate Presentation July 2019

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CAUTIONARY STATEMENT

These presentation slides (the “Slides”) do not comprise a prospectus or other form of offering document relating to Cordoba Minerals Corp. (“the Company”), and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below. This presentation contains forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company’s current projects in Colombia are at an early stage and all estimates and projections are based on limited, and possibly incomplete data. More work is required before geological and economic aspects can be confidently modeled. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic. This presentation also contains references to estimates of Mineral Resources. The estimation of Mineral Resources is inherently uncertain and involves subjective judgments about many relevant factors. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation (including estimated future production from the company’s projects, the anticipated tonnages and grades that will be mined and the estimated level of recovery that will be realized), which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that ultimately may prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on: (i) fluctuations in copper, gold or other mineral prices; (ii) results of drilling, (iii) metallurgical testing and other studies; (iv) proposed mining operations, including dilution; (v) the evaluation of mine plans subsequent to the date of any estimates; and (vi) the possible failure to receive required permits, approvals and licences. Cordoba has prepared a NI 43-101 compliant technical report for the Alacran Project, which is available under the company’s SEDAR profile at www.sedar.com. This technical report include relevant information regarding the effective date and the assumptions, parameters and methods of the mineral resource estimates on the Alacran Project cited in this presentation, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this presentation in respect of the San Matias and Alacran projects. The technical information in this presentation has been reviewed and verified by Charles N. Forster, P.Geo., a Qualified Person for the purpose of National Instrument 43-101. Mr. Forster is the Vice President Exploration for Cordoba and for HPX, Cordoba’s majority shareholder, and is not considered independent under National Instrument 43-101.

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CREATING A LEADING COPPER-GOLD COMPANY

Perseverance

Porphyry Copper Target Arizona, USA

San Matias Project

Alacran Copper-Gold-Silver Deposit District Exploration Targets Córdoba, Colombia Corporate Information

Trading symbols TSXV: CDB OTCQB: CDBMF Shares, warrants,

  • ptions &

share units* Basic shares: 300,019,388 Warrants: 61,760,439 Options & units: 9,990,839 Fully diluted: 371,770,666 Share price* C$0.10 Market cap* C$30 million Key shareholder High Power Exploration Inc. (HPX): ~70%

*As at May 9, 2019. Share price and market capitalization as at July 8, 2019.

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S a n M a t i a s S a n M a t i a s

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S a n M a t i a s

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COLOMBIA IS AN ATTRACTIVE COUNTRY TO INVEST

Economically and politically stable

§ Government has prioritized foreign investment § Top-ranked country in Latin America for investment protection

  • Numerous bilateral investment treaties and free

trade agreements

§ Substantial post-conflict investment in transportation, power and telecommunications § Clean, independent judiciary, rule-of-law applies

Mining in Colombia

§ Established mining jurisdiction with famed pre- Hispanic gold production § Largest nickel and coal producer in Latin America

  • South 32’s Cerro Matoso nickel mine located

~30 km from San Matias

§ Government committed to expedite mining approvals and to eradicate illegal mining

Part of the Andean Arc

§ Andean Arc produces 48% of the world’s copper § Colombia is an under-explored segment of the Arc, with substantial gold and copper potential § Previous exploration seriously impeded by the Colombian conflict

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S a n M a t i a s A brand-new mineral camp

§ A previously unrecognized, Laramide-age porphyry copper- gold district

  • Identified by follow-up of artisanal gold workings

§ Commanding land position securing the entire prospective area

  • 149 km2 of granted title
  • 2,491 km2 of applications

§ Initial exploration over only 1% of the title holding has resulted in identification of four copper-gold-silver deposits:

  • Alacran
  • Montiel East
  • Montiel West
  • Costa Azul

§ Multiple other targets remain to be explored § Located close to sea-level in an established mining district with excellent access and infrastructure

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SAN MATIAS COPPER-GOLD-SILVER PROJECT

TSXV: CDB, OTCQB: CDBMF *Refer to resource estimate on slide 10.

N

Alacran

Costa Azul Montiel

Argos

Carbon del Caribe Coal

Cerro Matoso

South 32 Nickel

San Matias Project

Puerto Libertador

San Matias deposits Property boundary Operating mines

Legend

Roads Airport 5 km 10 km

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S a n M a t i a s Porphyry-related replacement deposit

§ Mineralization extends over 1.3 km strike length

  • Replaces westerly-dipping carbonate-bearing volcano-sedimentary strata

§ The deposit forms a ridge line and is amenable to open pit mining with a low strip ratio § Drill core assays indicate very low contents of deleterious elements such as arsenic and lead § Late-mineral intrusive breccias truncate the deposit to the west and contain mineralized porphyry fragments

High-grade gold veins cross-cut the replacement deposit

§ Exploited by informal miners § Will add significant value during mining

  • 10.25% copper, 4,440 g/t gold, 347 g/t silver and 24.70% zinc over

0.90 metres (ACD036)

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ALACRAN REPLACEMENT COPPER-GOLD-SILVER DEPOSIT

TSXV: CDB, OTCQB: CDBMF

§ Coarse visible gold in sphalerite- chalcopyrite-carbonate vein in drill hole ACD036

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S a n M a t i a s

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MONTIEL EAST, MONTIEL WEST AND COSTA AZUL

Porphyry-style mineralization

§ Montiel East and Costa Azul comprise stock- worked quartz-diorite porphyry intruding basaltic andesite volcanic rocks § Montiel West comprises stock-worked basaltic andesite volcanic rocks with no porphyry intrusion yet identified § Notable drill intercepts include:

  • Montiel East: 0.71% copper and 0.56 g/t gold
  • ver 118 metres (SMDDH012)
  • Montiel West: 0.32% copper and 0.37 g/t gold
  • ver 72 metres (MWDDH003)
  • Costa Azul: 0.62% copper and 0.51 g/t gold
  • ver 87 metres (CADDH003)

Montiel East Montiel West

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S a n M a t i a s Updated Mineral Resource Estimate Released July 3, 2019

§ Indicated: 674,000 tonnes of copper equivalent* § Inferred: 15,000 tonnes of copper equivalent* § Includes Alacran, Montiel East, Montiel West and Costa Azul

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PRELIMINARY ECONOMIC ASSESSMENT CLOSE TO COMPLETION

TSXV: CDB, OTCQB: CDBMF

Drainage

*Refer to Notes on Mineral Resources.

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S a n M a t i a s

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ALACRAN PLAN AND CROSS-SECTION

TSXV: CDB, OTCQB: CDBMF *Refer to endnotes.

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S a n M a t i a s

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THE RESOURCE IS OF ECONOMIC SIZE AND GRADE

Classification Tonnage (Mt) CuEq Grade (%) Copper Grade (%) Gold Grade (g/t) Silver Grade (g/t) Contained CuEq (tonnes) Contained Copper (tonnes) Contained Gold (oz) Contained Silver (oz) Indicated Resources Alacran 81.8 0.73 0.54 0.28 2.95 597,100 442,100 742,800 7,763,100 Montiel East 3.4 0.79 0.53 0.41 1.69 26,900 18,100 45,300 186,200 Montiel West 3.9 0.69 0.27 0.54 1.34 26,900 10,700 67,600 169,800 Costa Azul 5.8 0.46 0.30 0.23 0.68 26,700 17,200 42,100 126,400 Total Indicated 94.9 0.71 0.51 0.29 2.70 673,800 488,100 897,900 8,245,300 Inferred Resources Alacran 1.7 0.49 0.39 0.13 1.67 8,300 6,600 7,100 92,700 Montiel East 1.2 0.38 0.26 0.17 0.92 4,600 3,000 6,200 34,400 Montiel West 0.4 0.51 0.07 0.65 1.03 2000 300 8,400 13,200 Costa Azul 0.1 0.41 0.30 0.17 0.56 400 400 800 2,500 Total Inferred 3.4 0.45 0.30 0.20 1.30 15,300 10,400 22,400 142,800

Pit-Constrained Mineral Resource Estimate – June 25, 2019

*Refer to Notes on Mineral Resources. 0.30% CuEq cut-off grade.

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S a n M a t i a s

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COMPARABLES: ATALAYA MINING & MOD RESOURCES

Riotinto Mine – Spain (100% owned)

§ Project Stage: In production § Reserves: 197 Mt @ 0.42% Cu § 15 Mtpa Expansion Plan Metrics:

  • Throughput / LOM: 15 Mtpa / 13.8 years
  • Conventional Open Pit: 1.43:1 SR
  • Annual Production: 50,000t Cu and 670,000oz Ag
  • Initial / Sustaining Capex: US$95M / US$84M
  • Avg. C1 Cash Cost: US$2.10/lb Cu
  • Post-tax NPV8 US$512M @ US$3.00/lb Cu

Atalaya has a ~$475M market cap and raised £31M in Dec. 2017 to fund 15 Mtpa expansion

San Matias – Colombia (100% owned)

§ Project Stage: PEA to be completed in July 2019 §

  • Ind. Resources: 94.9 Mt @ 0.51% Cu, 0.29 g/t Au,

2.7 g/t Ag §

  • Inf. Resources: 3.4 Mt @ 0.30% Cu, 0.20 g/t Au, 1.3

g/t Ag § Conventional Open Pit: 1.46:1 SR or less *Based on Company disclosure and technical reports.

S a n M a t i a s

T3 – Botswana (100% owned)

§ Project Stage: FS complete Mar. 2019 §

  • Prob. Reserves: 34 Mt @ 1.0% Cu, 13.2 g/t Ag

§ FS Project Metrics:

  • Throughput / LOM: 3.2 Mtpa / 11.5 years
  • Conventional Open Pit: 5.7:1 SR
  • Annual Production: 28,000t Cu and 1.1 Moz Ag
  • Initial / Sustaining Capex: US$182M / US$84M
  • Avg. C1 Cash Cost: US$1.35/lb Cu
  • Pre-tax NPV8 US$368M @ US$3.08/lb Cu & IRR of

33%

MOD being acquired by Sandfire Resources for A$167M in cash and shares (June 25, 2019), at a 45% premium to the 20-day VWAP

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S a n M a t i a s

0 m 400 m

  • 400 m

418500 419000 419500 420000

W E ACD076 ACD030 ASA046 Planned hole

Porphyry fragments with potassic alteration

Sericite + Chlorite alteration Propylitic alteration

Conceptual porphyry system at depth?

Alacran North Fault

Porphyry fragments with phyllic alteration

Conceptual Porphyry Potassic Alteration Phyllic Alteration Dacite Breccia Andesite Breccia Unit 3 Unit 2 Unit 1 Fault Planned Drillhole AMEC Pit Shell

Legend

Block Model CuEq

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ALACRAN PORPHYRY TARGET

§ Target identified through recognition of late-mineral andesitic and dacitic breccias containing mineralized porphyry fragments § Emplaced along the same structures that introduced the Alacran mineralizing fluids

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P e r s e v e r a n c e P e r s e v e r a n c e

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P e r s e v e r a n c e A world-class copper province

§ Arizona has produced 10% of the world’s copper, mainly from supergene-enriched deposits

  • The deep Resolution discovery in 1995 is one of the world’s largest and

highest-grade copper deposits

§ Many of the Arizona deposits were emplaced along major north- easterly structures

  • Then tectonically dismembered and transported by low-angle faults

More discoveries to be made using modern exploration concepts and technology

§ Underexplored for +30 years after US copper companies fell on hard times, were acquired or moved offshore § Extensive parts of the State are blanketed by post-mineral cover concealing undiscovered deposits § Cordoba and HPX have a unique technology advantage in this environment

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ARIZONA IS THE COPPER STATE

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P e r s e v e r a n c e A concealed porphyry target

§ 52 km2 of mineral title § 25% owned by Cordoba, with option to increase to 80%

  • Earn-in and JV agreement with Bell Copper
  • Corp. (BCU-V)

§ The 15 km2 Wheeler Wash quartz- magnetite stockwork was identified by Kennecott in the 1950’s

  • Thought to be a “failed” porphyry copper

system

§ Dr. Tim Marsh, CEO of Bell Copper, recognized it as the root zone of a decapitated porphyry in 1997

  • He joined Bell Copper in 2005 and has been

searching ever since for the transported top of the system

§ Excellent access and infrastructure

  • Adjacent to grid power, natural gas pipeline,

inter-state highway and transcontinental railway

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PERSEVERANCE COPPER PROJECT

TSXV: CDB, OTCQB: CDBMF Direction of movement

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P e r s e v e r a n c e Recent drill hole K-20

§ Drilled to 1,319 metres and returned a wide interval of anomalous copper values

  • 415 ppm copper over 595 metres

§ More copper than in any previous drill hole § Downhole acoustic televiewer (ATV) measurements of fractures and vein-sets suggest the copper source is located to the north-east

  • f K-20

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DRILLING SHOWS EVIDENCE OF A NEARBY PORPHYRY

TSXV: CDB, OTCQB: CDBMF K-20 at 814 metres K-20 at 822 metres K-20 at 1,020 metres K-20 at 1,032 metres Cpy vein Cpy vein Bn & Cpy along fracture Hydrothermal Mt with Cpy-Py & K-alteration

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P e r s e v e r a n c e

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PERSEVERANCE MAGNETO-TELLURIC ANOMALY

TSXV: CDB, OTCQB: CDBMF

Deep magneto-telluric (MT) conductor

§ Open to the north-east § Similar conductors known to be associated with large porphyry copper deposits such as Bingham Canyon and Resolution

Next steps

§ Extend MT coverage to the north-east to close-off the anomaly § Diamond drilling to follow § Bring HPX’s proprietary Typhoon technology to Arizona to uncover other concealed porphyry deposits

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WHAT’S NEXT…

2019

Completion of studies for San Matias mining licence application

2019

MT survey to delineate Perseverance anomaly for follow-up drilling

2019-2020

Ongoing exploration in the San Matias District and other areas in Colombia

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Exploration drill testing of Alacran porphyry and San Matias district target

2019

New project acquisitions in Arizona, USA

2020

Use HPX’s T yphoon technology to uncover other deposits in Arizona

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A p p e n d i x

Appendix

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A p p e n d i x

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PERSEVERANCE JOINT VENTURE AGREEMENT

JV Earn-In Spending Commitment

Phase 1 C$1 million within 18 months to earn 25% interest (completed) Phase 2 Additional C$3 million within subsequent 2 years for 51% interest (in progress) Phase 3 Additional C$3 million within subsequent 2 years for 70% interest Phase 4 Additional C$10 million within subsequent 2 years for 80% interest

Option to earn up to 80% over 7.5-year period

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A p p e n d i x

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BOARD OF DIRECTORS

ERIC FINLAYSON, Director

  • Mr. Finlayson is a geologist with over 35 years of global exploration experience. He was appointed President of High Power Exploration Inc. HPX in 2015 after serving as Senior Adviser-

Business Development since 2013. Prior to joining HPX, Mr. Finlayson spent 24 years with Rio Tinto including 5 years as Global Head of Exploration.

GOVIND FRIEDLAND, Director

  • Mr. Friedland is the Executive Chairman of GoviEx Uranium and a Principal and Co-Founder of Ivanhoe Industries, the parent company of I-Pulse, a hi-tech company providing innovative

solutions for mining, oil & gas, and advanced manufacturing sectors based in Toulouse, France. He has a degree in Geology and Geological Engineering from the Colorado School of Mines with a focus on Exploration Geology. Mr. Friedland was the former Business Development Manager for Ivanhoe Mines Ltd. based in China, and has significant experience in emerging markets.

BILL ORCHOW, Director

  • Mr. Orchow previously served as a director of Revett Minerals, a Canadian company trading on the Toronto Stock Exchange and acquired by Hecla Mining in 2015. Mr. Orchow was also

the former President and CEO of Kennecott Minerals, and also of Kennecott Energy, the third largest domestic coal producer in the United States. Mr. Orchow is currently a member and Vice-Chairman of the Board of Trustees of Westminster College in Salt Lake City, Utah. Mr. Orchow graduated from the College of Emporia in Emporia, Kansas with a BSc in Business.

GIBSON PIERCE, Director

Owner of Pierce Mining Consultants since 2008. Mr. Pierce has over 40 years of experience in the mining industry working in engineering, operations, project evaluation, construction, acquisition and divestment in Canada, United States, Peru, Chile, Australia, Indonesia, Papua New Guinea, South Africa and other countries. Prior to launching Pierce Mining Consultants, which provides peer reviews, project management and evaluation services to the mining industry, worked for BHP Billiton for 31 years in various roles. Mr. Pierce was a Fellow of the Australian Institute of Mining and Metallurgy from 1994 to 2008; a director of Overland Resources from 2008 to 2015 and obtained his BSc Geology from the University of Alberta in 1976.

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MANAGEMENT

ERIC FINLAYSON, President & Chief Executive Officer

  • Mr. Finlayson is a geologist with over 35 years of global exploration experience. He was appointed President of High Power Exploration Inc. ("HPX") in 2015 after serving as Senior

Adviser-Business Development since 2013. Prior to joining HPX, Mr. Finlayson spent 24 years with Rio Tinto including 5 years as Global Head of Exploration.

MARK GIBSON, Chief Operating Officer

  • Mr. Gibson concurrently serves as the COO of both HPX and Kaizen Discovery, and joined HPX in 2011 as the founding CEO. Mr. Gibson previously worked with Anglo American, and

was the founder of a geophysical service company focused on managing seismic surveys for the mining industry. He has more than 26 years of wide-ranging experience as a geoscientist and manager in the natural resources sector.

GREG SHENTON, Chief Financial Officer

  • Mr. Shenton, CPA, CGA, has nearly 30 years of mining industry experience, including being Chief Financial Officer (CFO) of Peregrine Diamonds since 2006. He also served as CFO for

Peregrine Metals for five years, until that company was sold in 2011. Mr. Shenton has worked with the Ivanhoe group of companies since November 1989. During this time, he has served as CFO for Ivanhoe Nickel & Platinum, Jinshan Gold Mines, and Asia Gold, and held the position of Controller with Diamond Fields Resources, DiamondWorks, and Ivanhoe Mines. In addition,

  • Mr. Shenton is Vice President and Director of Ivanhoe Capital Corporation.

SARAH ARMSTRONG, Vice President & General Counsel

  • Ms. Armstrong is also the General Counsel for HPX, and has past experiences including employment at Linklaters LLP and Xstrata. She has past experience in emerging markets, having

worked on, and led transactions in, Asian and Latin American countries including: Hong Kong, Singapore, Mongolia, China, Philippines Chile, Peru and Colombia. Her legal expertise ranges from mining projects, to structured capital market transactions, M&A, take-overs, joint ventures and earn-ins and international arbitration proceedings. Ms. Armstrong is admitted as a legal practitioner in Australia (Supreme Court of New South Wales and Supreme Court of Queensland).

CHARLES FORSTER, Vice President of Exploration

  • Mr. Forster is a Professional Geoscientist (P.Geo.) with more than 45 years of diversified mineral exploration experience in Canada, United States, Sub-Saharan Africa, Portugal, China, and
  • Mongolia. He was formerly the Senior Vice President of Exploration at Oyu Tolgoi in Mongolia for Ivanhoe Mines (now Turquoise Hill Resources) from early 2001 to June 2008. During this

time, he led a team of multi-national and Mongolian geologists in the discovery and delineation of the world-class Oyu Tolgoi copper-gold porphyry deposit. The discovery of the massive, high-grade Hugo Dummett underground deposit at Oyu Tolgoi was subsequently recognized by the Prospectors and Developers Association of Canada, which in 2004 named Mr. Forster a co-recipient of the inaugural Thayer Lindsley Medal awarded for the International Discovery of the Year.

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A p p e n d i x

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NOTES ON MINERAL RESOURCES

1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability; the estimate of Mineral Resources in the updated Mineral Resource statement may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized. It is reasonable to expect that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. 2. The Mineral Resources in this estimate were independently prepared by Glen Kuntz, P.Geo. of Nordmin Engineering Ltd., following the Definition Standards for Mineral Resources and Mineral Reserves Prepared by the CIM Standing Committee on Reserve Definitions, adopted by CIM Council on May 10, 2014. 3. The Mineral Resources in this estimate used Datamine Studio 3 Software to create the block models and used Datamine NPV Scheduler to constrain the resources and create conceptual open pit shells for the deposits. Assumptions used to prepare the conceptual pits include:

  • Metal prices of US$3.25/lb copper, US$1,400/oz gold and US$17.75/oz silver;
  • Mining cost of US$2.00/t mined, processing cost of US$12/t milled and G&A costs of US$1.25/t milled;
  • 100% mining recovery, 0% dilution and 45° pit slope in fresh and transitional rock and 32.5°in weathered saprolite;
  • Variable process recoveries of 50.0% to 90.0% for copper, 72.0% to 77.5% for gold and 40.0% to 70.0% for silver depending on the domain (saprolite, transition or fresh sulphide) and copper grade.
  • Freight and treatment costs of US$162/t concentrate, payable metal factors of 96% for copper and 95% for gold and silver, and refining charges of US$0.085/lb copper, US$5.50/oz gold and US $1.15/oz silver.

4. Copper equivalent has been calculated using: CuEq % = Cu % + (Au Factor x Au Grade g/t + Ag Factor x Ag Grade g/t) x 100.

  • Au Factor = (Au Recovery % x Au Price $/oz / 31.1035 g/oz) / (Cu Recovery % x Cu Price $/lb x 2204.62 lb/t).
  • Ag Factor = (Ag Recovery % x Ag Price $/oz / 31.1035 g/oz) / (Cu Recovery % x Cu Price $/lb x 2204.62 lb/t).
  • Variable process recoveries of 50.0% to 90.0% for copper, 72.0% to 77.5% for gold and 40.0% to 70.0% for silver depending on the domain (saprolite, transition or fresh sulphide) and copper grade.

5. A cut-off grade of 0.30% CuEq has been applied. 6. The cut-off date of the drill hole information was November 24, 2017. 7. All references to the 2018 Mineral Resource estimate are reported in the Technical Report titled “NI 43-101 Technical Report on the El Alacran Project Department of Córdoba, Colombia”. The Technical Report has an effective date of April 10, 2018. The 2018 estimate is no longer considered to be current and is not to be relied upon. 8. Due to rounding, totals may not sum.

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NOTES

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NOTES

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NOTES

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Cordoba Minerals Corp.

Suite 654 – 999 Canada Place Vancouver, BC, V6C 3E1 www.cordobaminerals.com

Investor Relations

Evan Young +1 (604) 689-8765 info@cordobamineralscorp.com