Cardero Resource Corp announced that it has been advised by Emmaland Resources Limited, its Ghanaian joint venture partner that Emmaland has received final approval from The Minister for Lands and Natural Resources for the grant to Emmaland of three prospecting licenses covering lands located in the Zabzugu-Tatale District in the Northern Region of the Republic of Ghana and referred to as the Sheini Hills Iron Project.

Accordingly, Emmaland has submitted to the Minerals Commission the final documentation required for the formal issuance of the prospecting licenses and anticipates that they should be issued around the beginning of November, 2011. Cardero has negotiated joint ventures with Emmaland pursuant to which the Company can acquire a 100% working interest in each of the three licenses.

The Sheini Hills Iron formation, occurring as hematite with a lesser component of magnetite, has an indicated average thickness of 50 to 150 metres and can be followed by surface mapping and sampling for a minimum of 30 kilometres of strike. The mineralized system appears to be flat to gently dipping at surface, forming north-south trending prominent ridges.

The Sheini Hills Iron Project is a large-scale iron project, which is in line with Cardero's bulk commodity focus, and is anticipated to add considerably to the Company's existing coal and iron resource base.