Cordoba Minerals Announces Closing of Alacran Asset Sale

About this update from Cordoba Minerals Corp.

[{"type":"text","content":"Cordoba Minerals Announces Closing of Alacran Asset SaleVancouver, British Columbia--(Newsfile Corp. - March 6, 2026) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\") is pleased to announce that it has closed the sale of its remaining 50% interest in the Alacrán Project in Colombia, along with all other exploration assets in Colombia and certain accounts receivable (the \"Transaction\") to Veritas Resources AG (\"Veritas\"), an entity owned by a consortium of experienced mining investors (the \"Consortium\") led by JCHX Mining Management Co., Ltd. (\"JCHX\"). Upon closing of the Transaction, Cordoba received cash proceeds of US$128 million (the \"Closing Cash Payment\"). The Transaction was completed by way of the divestment of Cordoba's wholly owned Colombian subsidiaries, Minerales Cordoba S.A.S. (\"Minerales\") and Exploradora Cordoba S.A.S. (\"Exploradora\") to Veritas. Veritas now holds a 100% interest in the Alacrán Project and has assumed full operational responsibility for the project. In connection with closing of the Transaction, the initial framework agreement with JCHX dated December 8, 2022, as amended, and all prior agreements related thereto between Cordoba and its affiliates and JCHX and its affiliates have been terminated.\"This transaction delivers an excellent outcome for Cordoba shareholders and marks an important milestone for the Company,\" said Quentin Markin, a Cordoba director and Executive Vice-President of Business Development for Ivanhoe Electric, Cordoba's controlling shareholder. Mr. Markin will assume the role of Interim CEO. \"The Alacrán Project is now in the hands of JCHX—a global leader in mine development with deep expertise in underground mining. We are confident they are well positioned, together with their consortium partners, to continue to advance the project while we turn our attention to Cordoba's next growth chapter. The Company extends its deep gratitude to its partners, stakeholders, and local communities for their continued support throughout the transaction process. We especially want to thank Sarah Armstrong-Montoya, who will be remaining with the Alacrán Project, for her years of dedicated service to Cordoba and the project.\"Cordoba remains a publicly-listed company on the TSX Venture Exchange (\"TSXV\") with the Com...

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