Cordoba Minerals shareholders approve Alacran sale

Executive Summary

• Cordoba Minerals Corp. shareholders unanimously approved the sale of its remaining 50 % interest in the Alacran project and all other Colombian exploration assets, effectively disposing of substantially all of the company’s undertaking.
• A separate resolution authorizing a cash distribution to shareholders was also approved with near‑universal support (99.99 %).
• Closing of the transaction is expected in Q4 2025, subject to environmental approval for Alacran and TSX Venture Exchange clearance.

Key Details

• Transaction Approval: 100 % of votes cast (both present/proxy and eligible shareholders) approved the sale of Cordova’s 50 % stake in Alacran and all other Colombian exploration assets, meeting the required two‑thirds majority.
• Cash Distribution Authorization: 99.99 % of votes approved a cash distribution to shareholders under a plan of arrangement pursuant to BCBCA.
• Closing Timeline: Anticipated in Q4 2025 pending:
• Approval of the Environmental Impact Assessment (EIA) for Alacran by Colombia’s ANLA.
• Final approval from the TSX Venture Exchange.
• Strategic Focus Post‑Transaction: Management will concentrate on the Perseverance copper project in Arizona, aiming to advance key exploration opportunities and create long‑term value.

Notable Quotes

“We appreciate the strong support of our shareholders in approving the transaction and distribution,” said Sarah Armstrong‑Montoya, President and CEO. “This decision enables us to sharpen our focus on our Perseverance project, where we are well positioned to advance our key exploration opportunities to continue to build long‑term value.”