Cardero Resource Corp. has entered into a letter agreement dated July 7, 2015 with Redstone Resources Corporation under which the Company has been granted an exclusive option to acquire up to a 100% interest in the Zonia copper project, located in Arizona. The Zonia copper oxide deposit is located in Arizona, USA. The project has been held under private ownership for almost 100 years and has undergone comprehensive exploration, metallurgical studies and mine development planning. The Company has completed due diligence with support from JDS Energy and Mining ("JDS"). Drilling on the property totals more than 60,000 metres in almost 700 drill holes, reducing technical risk considerably. Less than 30% of the complete land position has been explored and there is potential for expansion to the northeast and southwest. The deposit has a historical resource that was completed in 2011 by Tetra Tech using modern CIM-defined standards. The land package comprises patented claims, a state lease, private land and unpatented claims. The historical resource considers only resources that are located on patented claims /private land. Additional historical resources have been defined on unpatented claims.

John Drobe will be appointed Chief Geologist in charge of the Zonia Project. John is a geologist with over 25
years' experience specializing in copper-gold porphyry, epithermal and skarn deposits through the Americas.