Vancouver, British Columbia–(Newsfile Corp. – November 12, 2026) – Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (“Cordoba” or the “Company”) Interim Chief Executive Officer Quentin Markin announces revisions to its proposed 2026 exploration program at the Perseverance Copper Project in Arizona, USA (“Perseverance Project”). The Perseverance Project is a 51/49 joint venture with Bell Copper Corporation (“Bell Copper”)(TSXV: BCU) (OTCQB: BCUFF).
The 2026 exploration program, originally announced on June 8, 2026, contemplated deepening three existing drill holes to test a chargeability anomaly interpreted as potential blind supergene chalcocite blanket beneath a leached cap. The three holes were originally stopped in hematite, goethite-rich, leached cap rocks beneath a young, 20-million-year-old basalt flow covering Proterozoic and Laramide basement rocks. In Arizona this is indicative for the potential for copper-rich chalcocite mineralization replacing pyrite and chalcopyrite below the leached cap rock.
Field checks subsequently found that the collars of the three earlier holes were not viable for re-entry. While another location on private land owned by the joint venture were considered, re-locating the drill pad to this location was not considered viable.
As a result, in order to test the chargeability anomaly, drill testing will need to be conducted from Arizona State land. This will require a longer permitting lead time, meaning drill testing of the anomaly is now targeted for the second half of 2027. A revised exploration program and budget will be established once the proposed drill locations on Arizona State land have been confirmed.
Cordoba’s Interim Chief Executive Officer, Quentin Markin, commented, “We are disappointed that we will not be able to accelerate the testing of the anomaly using the existing drill holes. Nevertheless, the prospectivity for supergene copper enrichment below the leach cap remains. The team will now be working to determine the best drill locations on State land in order to conduct this drill test later in 2027.”
The Perseverance Copper Project is located in Arizona’s Copper Triangle, a Tier 1 jurisdiction with major copper deposits and mines. The Project is located 50 miles north-northwest of Freeport McMoRan’s Bagdad Copper Mine, approximately 19 miles southeast of Kingman, Arizona, and 150 miles northwest of Phoenix, with a land package comprising more than 19,000 acres.
Cordoba remains well capitalized to conduct its exploration activities with a cash balance of approximately C$20.4M as at September 30, 2026. Bell Copper remains responsible for 49% of the exploration costs incurred at the Perseverance Project.
Technical Information & Qualified Person
The scientific and technical information in this news release has been reviewed, approved and verified by Charles N. Forster, P.Geo., a Qualified Person for the purpose of National Instrument 43-101. Mr. Forster is a Senior Advisor to Cordoba and is not considered independent under National Instrument 43-101, as he also serves as a Senior Advisor to Cordoba’s controlling shareholder, Ivanhoe Electric Inc.
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba holds a 51% interest in the Perseverance Copper Project in Arizona, USA. For further information, please visit www.cordobaminerals.com.
Forward-Looking Statements
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of United States and Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements relating to the expected timing, cost and work plan for the Perseverance Copper Project, including the permitting of drill sites on Arizona State land and the timing of the drill test, and the potential results thereof. 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 title to mineral property risks; going concern risks; the availability of capital and financing generally for the development of the Perseverance Project; community relations; fluctuations in the price of metals and the anticipated future prices of such metals; stock market volatility; unanticipated changes in general business and economic conditions or conditions in the financial markets; certain shareholders exercising significant control over the Company; foreign entity risks; loss of key personnel; negative operating cash flow; changes in interest or currency exchange rates; risks related to foreign operation including changes to taxation, social unrest, and changes in national and local government legislation; regulatory risks; uninsured risks; environmental risks; competition; risks related to participation in joint ventures; legal disputes or unanticipated outcomes of legal proceedings; changing global financial conditions; force majeure; conflicts of interest; cyber security incidents; and the potential effects of international conflicts on the Company’s business; human error; 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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