Cardero Resource Corp. announced amendments to the previously announced extension of the maturity and restructuring (the ‘Loan Restructuring’) of $2,329,163 in loans (the ‘CDU Loans’) and $1,019,836 (the ‘CDU Dividend’) dividends payable by Cardero to entities controlled by director Robert Kopple (the ‘Kopple Entities’) intended to be completed in connection with the proposed merger transaction (the "Proposed Transaction") with World Copper Ltd. ("WCU"). The previously announced dates related to the extensions to the CDU Loans and CDU Dividends will remain in place, but now an aggregate of 15,324,523 new bonus warrants exercisable at a price of $0.075 per share until the earlier of 12 months following issuance or, assuming completion of the Proposed Transaction, 12 months following the completion by WCU of a related financing, instead of the prior announced amounts and terms. The CDU Loans and CDU Dividends would be assumed by WCU on completion of the Proposed Transaction. As the Kopple Entities are owned and controlled by Robert Kopple, who is a director and a control person of Cardero, the Loan Restructuring is a `related party transaction' as such term is defined in Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions ("MI 61-101") and will require the approval of a majority of the minority shareholders, excluding the votes of the Kopple Entities. Cardero anticipates relying on an exemption to the formal valuation requirement as set forth in Section 5.5(b) of MI 61-101, as Cardero is not listed in the TSX, NYSE, NASDAQ or any stock exchange outside of Canada. The Loan Restructuring remains distinct from the loan extensions announced by Cardero on December 11, 2020. Those loans were extended to November 13, 2021 as announced, but Cardero has not issued the bonus warrants associated therewith (the "Bonus Warrants"). Cardero and the Kopple entities will agree to reduce the number of Bonus Warrants for this extension to 6,452,945 Bonus Warrants, subject to the approval of the TSXV. Each Bonus Warrant will entitle the holder to purchase one common share in the capital of the Company at an exercise price of CAD 0.06 per share, being the market price of the Cardero shares on December 11, 2020, until November 13, 2021. The Bonus Warrants and all securities issued pursuant to the Loan Restructuring will be subject to a hold period of four months and one day in Canada from the date of issuance.