Cardero Resource Corp. announced further to its press release dated May 31, 2021, it has entered into a loan extension agreement with entities controlled by director Robert Kopple for the extension of the maturity and restructuring of $2,329,163 in loans and $1,019,836 dividends payable by Cardero to the Kopple Entities which loans and dividends will be assumed by World Copper Ltd., following completion of the proposed merger transaction. More particularly the Loan Restructuring involved the following: the maturity date of such portion of the CDU Loans as become due in 2021 (approximately $1,677,771) will be extended such that 50% of total amount will be extended by two years and the remaining 50% will be extended by three years. The portion of the CDU Loans maturing in 2022, being approximately $651,392, will not be extended and did not form part of the Extension Agreement.