Cardero Resource Corp. announced that it has received $3,774,651 as a BC Mineral Exploration Tax Credit refund. These funds, together with additional funds from its line of credit, were used to make the payment of $3,700,000, plus interest, due on or before March 14, 2014 under the terms of its outstanding senior secured notes. The company also announced that all motions put forward for approval at its 2014 Annual General Meeting held April 4, 2014 in Vancouver, British Columbia passed with significant shareholder support. In March, 2014, the company received a total of $3,774,651 in connection with its application for the BC METC as discussed in its news release NR14-01. The company currently has outstanding senior secured notes and a secured line of credit from entities controlled by Mr. Robert C. Kopple of Los Angeles, California. On receipt, the METC funds were used to make part of the payment of $3,906,794 due on or before March 14, 2014 under the Notes, with the balance of $545,838 in excess of the METC being paid from the Credit Line.

The company also announced that, at the AGM held on April 4, 2014, Mr. Robert van Doorn was elected as a director. Mr. Van Doorn is a businessman with more than 20 years' experience in the mineral resource business. Mr. Van Doorn is currently Executive Chairman of Namakwa Uranium. He was previously Chairman, President & CEO of Mundoro Mining Inc.