Cordoba Minerals : Corporate Presentation (October 18, 2023)

Copper-Gold Developer with District-Scale Exploration Potential

October 2023

TSX-V: CDB │ OTCQB: CDBMF

TSXV:CDB │ OTCQB:CDBMF

Cautionary Statement

These presentation slides (the "Slides") do not comprise a prospectus or other form of offering document relating to Cordoba Minerals Corp. ("the Company"), and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying presentation do not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below.

This presentation contains forward-looking statements including, but not limited to, results of the PFS; timing and results of a feasibility study, resource estimate and EIA; JCHX transaction including but not limited to, closing and receipt of all necessary approvals; targeted milestones and anticipated development of the Alacran Project; results of the Alacran PFS; growth profile; timing and positive decision to proceed with a development decision, construction and operation of a mineral project at San Matias; results of the San Matias drill program; potential for high-grade gold intercepts in gold/CBM veins; potential at Perseverance and results of upcoming work programs on the property, including timing and results of Typhoon survey, comments regarding the timing and content of upcoming work programs; potential for additional mineralization on San Matias and surrounding exploration ground; discovery of a porphyry system at Perseverance; geological interpretations, receipt of property titles and increased interest for Cordoba under the Perseverance option earn-in; results of metallurgical test work and potential metal recoveries, potential mineral recovery processes, project optimizations; exploration plans, and targets and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company's current projects are at an early stage and all estimates and projections are based on limited, and possibly incomplete data. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the projects will otherwise prove to be economic.

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 the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. Such assumptions and estimates include, but are not limited to, assumptions with respect to the status of community relations and the security situation on site and in Colombia; general business and economic conditions; continuity of drilling programs; the availability of additional exploration and mineral project; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners and significant shareholders; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements as a result of assumptions and risks related to the statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site; actual exploration results; interpretation of metallurgical characteristics of the mineralization; changes in project parameters as plans continue to be refined; future metal prices; availability of capital and financing on acceptable terms, general economic, market or business conditions; uninsured risks, regulatory changes and changes to laws and government policy; delays or inability to receive required approvals; 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.

This presentation also contains references to estimates of Mineral Resources and Reserves. The estimation of Mineral Resources and Reserves involve subjective judgments about many relevant factors. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation (including estimated future production from the Company's projects, the anticipated tonnages and grades that will be mined and the estimated level of recovery that will be realized), which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that ultimately may prove to be inaccurate. Mineral Reserves may have to be re-estimated based on changes to prevailing factors and assumptions used in the calculation, including costs, recovery rates, metal pricing and other factors.

Cordoba has prepared a NI 43-101 technical report for the San Matias Project titled "NI 43-101 Technical Report and Prefeasibility Study, San Matias Copper-Gold-Silver Project, Colombia," dated effective January 11, 2022 ("Alacran PFS"), which is available under the company's SEDAR profile at www.sedar.com. This technical report includes relevant information regarding the effective date and the assumptions, parameters and methods of the Mineral Resource and Reserves estimates on the San Matias Project cited in this presentation, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this presentation in respect of the San Matias Project and Alacran Deposit.

The technical information in this presentation pertaining to the San Matias Project has been reviewed and verified by Mark Gibson, P.Geo., a Qualified Person for the purpose of NI 43-101. Mr. Gibson is the Chief Operating Officer of Cordoba, and is not considered independent under NI 43-101.

The technical information in this presentation pertaining to the Perseverance Project has been reviewed and verified by Charles N. Forster, P.Geo., a Qualified Person for the purpose of NI 43-101. Mr. Forster is a Cordoba, and is not considered independent under NI 43-101.

Quality Assurance/Quality Control:

In connection with the drilling results on the Company's Alacran Project, the Company uses ALS Minerals Laboratory in Medellin, Colombia, ALS Minerals Laboratory in Lima, Peru, and SGS Colombia S.A.S in Medellin, Colombia. These labs operate in accordance with ISO/IEC 17025. The Company employs a comprehensive industry standard Quality Assurance/Quality Control (QA/QC) program. PQ and HQ diamond drill core is cut lengthwise into 3 fractions, 1/4 is sent to geochemistry, half is sent to metallurgy, and 1/4 is left behind in a secure facility for future assay verification. Some sample shipments are delivered to ALS Minerals Laboratory in Medellin, Colombia where the samples are prepared. Analysis occurs at the ALS Minerals Laboratory in Lima, Peru. Alternate sample shipments are delivered to SGS Colombia S.A.S in Medellin, Colombia where the samples are prepared and analyzed. Both analytical labs determine the gold by a 50 g fire assay with an AAS finish. An initial multi- element suite comprising copper, molybdenum, silver, and additional elements are analyzed by four-acid digestion with an ICP-MS finish. All samples with copper values over 10,000 ppm and gold greater than 10 ppm are subjected to an overlimit method for higher grades, which also uses a four-acid digest with an ICP-ES finish, and fire test with gravimetric finish. Certified reference materials, blanks, and duplicates are randomly inserted at the geologist's discretion and QA/QC geologist's approval into the sample stream to control laboratory performance (15%).

All dollar amounts are in US$, unless otherwise stated.

TSX-V: CDB │ OTCQB: CDBMF

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Exploring in Two World-Class Porphyry Copper Belts

Copper-Gold Developer with District-Scale Exploration Potential

TSX-V: CDB │ OTCQB: CDBMF

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Proven Management Team

Sarah Armstrong-Montoya, President and Chief Executive Officer

• Has held various senior management positions within the Ivanhoe group of companies since she joined in 2010
• Appointed as Vice President, General Counsel of the Company in 2016 and in June 2018 also appointed as President of subsidiary Minerales Cordoba S.A.S., managing all in- country operations in Colombia
• Ms. Armstrong-Montoya has a legal background and previously worked at Xstrata Copper, Linklaters and Corrs Chambers Westgarth
• Extensive experience in emerging markets having directed many transactions throughout Asia-Pacific and Latin America

Mark Gibson, Chief Operating Officer

• More than 31 years of wide-ranging experience as a geoscientist and manager in the natural resources sector
• Concurrently serves as the COO of both Ivanhoe Electric and Kaizen Discovery Inc. (TSXV:KZD; "Kaizen") and joined HPX in 2011 as the founding CEO
• Previously worked with Anglo American and was the founder of a geophysical service company focused on managing seismic surveys for the mining industry

David Garratt, Chief Financial Officer

• Chartered Professional Accountant (CPA, CA) with over 20 years of experience in financial roles and the mining sector
• A senior financial executive who served as CFO for Kaizen Discovery Inc. from 2015 to 2018
• Previously worked in Deloitte's audit practice, with a primary focus on public-listed companies in Canada and the United States

Gustavo Zulliger, Vice President of Exploration

• Specializes in exploration of porphyry copper and epithermal systems in South America's high-Andes region
• Over 22 years of experience in mineral exploration, project generation, and project evaluation in the Americas, Southeast Asia, Russia, and Mongolia
• Previously served as Chief Geologist of Exploration for South America at Antofagasta Minerals SA, Principal Geoscientist for BHP Billiton Minerals Exploration, and Chief Geologist for Resolution Copper

Charles Forster, Qualified Person and Consultant for Perseverance Project

• Professional Geoscientist with more than 45 years of diversified mineral exploration experience in Canada, United States, sub-Saharan Africa, Portugal, China, and Mongolia
• Formerly the Senior Vice President of Exploration at Oyu Tolgoi in Mongolia for Ivanhoe Mines (now Turquoise Hill Resources) from early 2001 to June 2008. During this time, he led a team of multi-national and Mongolian geologists in the discovery and delineation of the world-class Oyu Tolgoi copper-gold porphyry deposit
• The discovery of the massive, high-grade Hugo Dummett underground deposit at Oyu Tolgoi was subsequently recognized by the Prospectors and Developers Association of Canada, which in 2004 named Mr. Forster a co-recipient of the inaugural Thayer Lindsley Medal awarded for the International Discovery of the Year

TSX-V: CDB │ OTCQB: CDBMF

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Experienced Board Of Directors

Quentin Markin, Director

• A seasoned mining lawyer with 24 years of experience, all with the Canadian firm Stikeman Elliott LLP, where he had been a partner since 2008
• Currently serves as the Executive Vice President, Business Development and Strategy Execution at Ivanhoe Electric Inc.
• Practice focused on M&A, project development and financing for mining companies globally, and has been recognized by international legal consultancy Chambers for 11 years as a mining expert
• Notable transactions include C$1.2 billion IPO of Franco-Nevada in 2007, and C$856 million acquisition by OceanaGold of Romarco Minerals and its Haile Gold Mine in 2015
• Holds a Bachelor of Law Degree from the University of Ottawa, and an M.A. in International Relations from the Norman Patterson School of International Affairs

Bill Orchow, Lead Independent Director

• Previously served as a director of Revett Minerals, a Canadian company trading on the Toronto Stock Exchange and acquired by Hecla Mining in 2015
• Former President and CEO of Kennecott Minerals and Kennecott Energy (third largest domestic coal producer in the United States)
• Currently a member and Vice-Chairman of the Board of Trustees of Westminster College in Salt Lake City, Utah

Luis Valencia González, Director

• Executive and business consultant with over 14 years of experience in the Colombian private sector
• Currently provides legal and commercial consulting services to a large group of multinational corporations including Diageo plc (NYSE:DEO), Pernod Ricard S.A. (Euronext:RI) and Bacardi Limited, and previously: Ribera Salud Spain, Indra Sistemas SA (BMAD:IDR), Tradeco Group, Gilat Satellite Networks (NASDAQ:GILT), Pacific Rubiales and Gran Colombia Gold (TSX:GCM)
• General Manager of Valencia Cossio Consultores S.A.S., and is the owner of Dal Cossio Livestock

Dr. Huaisheng Peng, Director

• Director and President of JCHX Mining Management Co., Ltd.
• From 1984 to 2007, worked in the China Nonferrous Engineering and Research Institute successively as Engineer, Senior Engineer, Vice Director, Vice President, and Deputy General Manager of China ENFI Engineering Corporation
• Between 2008 and 2014, held various roles with Aluminum Corporation of China Ltd. ("Chinalco"), including Executive Director and CEO of Chinalco Mining Corporation International Ltd. During this period, Dr. Peng oversaw the construction and development of the world-class Toromocho copper mine in Peru
• Professional mining engineer and holds a Bachelor's degree from Northeast University in Shenyang, Liaoning, an EMBA from Tsinghua University in Beijing and a PhD in Science from Central South University in Changsha, China

Dr. Diane Nicolson, Director

• Economic geologist who has been active in the international minerals exploration and mining industry for more than 20 years
• Extensive experience working in both precious and base metals exploration globally with a particular focus in Latin America
• Holds a B.Sc. degree in geology from the University of London, and a PhD in economic geology from the University of Wales
• Currently President and CEO of Amarc Resources Ltd.

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Alacran Project at a Glance

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2022 PFS Outlines Robust Copper-Gold Project

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Feasibility Study Underway

Multiple Work Steams to Define the Final Layout for Mining

Over 44,000-metre FS in-fill resource diamond drill program completed:

• Confirmed PFS Mineral Resource block model
• Intersected multiple Carbonate Base Metal (CBM) veins that are associated with the host structures of Alacran's highest-grade mineralization

Metallurgical testing to confirm and further improve concentrate recoveries:

• 2022 PFS assumed 92.5% Cu, 78.1% Au within fresh rock. Gold can be recovered within the saprolite material

Throughput studies to improve trade-offs between CAPEX, OPEX and NPV:

• 2022 PFS assumed a 22,000 tpd concentrator. Trade off underway between CAPEX and OPEX of different throughputs

Mine Plan optimization and update including:

The current 13-yearlife of mine has the potential to be extended and the economic model can be further improved by including the 3 satellite deposits in FS or resource estimate upgrade within the Alacran Deposit

The environmental footprint for the Project will be reduced using co-mingling of waste rock and thickened tailings confirmed in 2022 PFS

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Feasibility Study In-fill Drilling Program

1. Copper equivalent ("CuEq") is calculated using the formula CuEq=((Copper%*Copper recovery)+100*((gold grade*gold price*gold recovery)/31.10305)/((copper%*copper price*copper recovery)*2204.62)+100*((silver grade*silver price*silver recovery)/31.10305)/((copper%*copper price*copper recovery)*2204.62) using the following assumptions: Metal prices of US$3.25/lb copper, US$1,600.00/oz gold, and US$20.00/oz silver, copper recovery of 92.5% (fresh and transition zone only), gold recovery of 78.1% and silver recovery of 62.9%.
2. Intervals are reported as core length only. True widths are estimated to be between 75% and 100% of the core length. ACD156 and ACD157 were drilled sub-parallel to dip and these lengths do not represent true thickness.
3. Holes ACD162 had partial core recovery, which is why the from-to lengths do not equate to the sampled intervals.

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