Cardero Increases Non-Brokered Private Placement

Cardero Resource Corp. CDY announces that it has increased the amount of the non-brokered private placement announced November 2, 2011. The non-brokered placement will now consist of up to 8,029,669 units at a price of CAD 0.95 per Unit for gross proceeds of up to CAD 7,628,185.55. Each Unit consists of one common share of the Company and one-half of a transferable common share purchase warrant. Each whole warrant is exercisable to acquire one additional Share for a period of 12 months from closing at an exercise price of CAD 1.25