Cordoba Minerals : Corporate Presentation (April 01, 2024)

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 information including, but not limited to, results of the FS, resource estimates and EIA; the future joint venture relationship with JCHX and the receipt of any remaining funds under the Strategic Framework Agreement between JCHX and Cordoba; project milestones and anticipated development of the Alacran Project; results of the Alacran FS; growth profile; timing and positive decision to proceed with a development decision, construction and operation of a mineral project at Alacran; 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 Alacran 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 information 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 information 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 information 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 information, 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 filed a Technical Report prepared in accordance with NI 43-101 on SEDAR+ atwww.sedarplus.comand on Cordoba's website at www.cordobaminerals.com within 45 days of the issuance of the FS News Release on December 18, 2023. This technical report includes relevant information regarding the effective date and the assumptions, parameters and methods of the Mineral Resources and Reserve estimates on the Alacran 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 Alacran Project.

The technical information in this presentation pertaining to the Alacran 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 consultant for Perseverance Project at Cordoba, and is not considered independent under NI 43-101.

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

Exploring in Two Highly Prospective Porphyry Copper Belts

Cordoba Minerals Corp.

•  Management team has a demonstrated track record of discovery

•  Strong financial and technical support from cornerstone investors (Ivanhoe Electric/Robert Friedland - 62.79% and JCHX - 19.81%)

•  Colombia and Arizona are both under-explored and highly prospective

•  Publicly listed on TSXV and OTCQB

Alacran Project - Development Phase Underway

•  2023 Feasibility Study (FS) with an after-tax NPV8% of $360 million and an IRR of 23.8% with a 3-year payback period (1)

•  50-50 jointly ownership with JCHX

•  Detailed engineering to begin in Q2 2024, mine construction is expected in Q1 2025 with commercial production expected in Q3 2026

Perseverance Project

•  A TyphoonTM IP-resistivity survey is anticipated

•  Vested a 51% interest in the Project in March 2022

1. Refer to Alacran Project NI 43-101 FS Technical Report on SEDAR+ atwww.sedarplus.com

Capital Markets Profile

Clean Capital Structure (1)
Tickers	TSXV: CDB OTCQB: CDBMF
Basic Shares Outstanding (2)	89.8M
Warrants (3)	1.5M
Options, RSU's & DSU's (4)	3.3M
Fully-Diluted Shares Outstanding	94.6M
Share Price (5)	C$0.39
Market Capitalization (5)	C$34.5M

• 1. Numbers are subject to rounding.

• 2. As at December 31, 2023.

• 3. 1.5 million warrants outstanding, which are exercisable into 1.5 million common shares at exercise prices of C$0.77.

• 4. 2 million options, with exercise prices ranging from C$0.53 to C$14.45 per share, and 0.9 million RSU's and 0.4 million DSU's.

• 5. As at March 27, 2024.

Tightly Held Share Ownership (2)

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 Chief Geophysics Officer for Ivanhoe Electric, 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

Peter Portka, Vice President of Corporate Development

•  Extensive experience as a senior financial and corporate development executive in the mining sector

•  Previously served as CFO at NorZinc Ltd., and VP Finance at Quintana Resources Capital, a streaming and royalty division of a U.S. based multi-billion private equity fund

•  Designated Chartered Professional Accountant (CPA, CA) and Chartered Financial Analyst

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

Experienced Board of Directors

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

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

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.

Alacran Project at a Glance

Overview

Ownership

•  50-50 joint ownership with JCHX

  Property

•  Only explored 1% of the tenements(1)

•  Open-pit mining with 14.2-year mine life

  Mine Type

•  Strip ratio: 1.15:1

•  Recovery rates: copper - 90%, gold - 74%, silver - 62%Project Economics(2,3)

•  NPV8% : $360M

•  IRR: 23.8%

•  Payback period: 3 yearsLOM

  Cash Costs(4)

•  LOM average mine site operating cash cost, net of by-product, for copper: $1.35/lb

•  LOM by-product credits: $1.31/lb

•  LOM average mine site operating cash cost: $2.66/lbDual Processing Plants

•  Main facility: 17,600 tpd for fresh and transition ore

•  Wash gravity plant: 2,400 tpd for saprolite ore & 1,200 tpd throughput for historical tailings materials

•  Plants produce separate copper and precious metal concentrates

• 1. Alacran Project is part of the San Matias land package, which has 146 km2 mining titles with additional 893 km2 under application

• 2. Project economic numbers are after-tax

• 3. Using average metal prices of $3.99/lb copper, $1,715/oz gold and $22.19/oz silver

• 4. LOM cash costs exclude sustaining capital

• 5. Refer to Alacran Project NI 43-101 FS Technical Report on SEDAR+ atwww.sedarplus.com

2023 FS Outlines Economically Attractive Project

LOM Productions & Costs

LOM Revenue by Metal (2)

3%

CopperGoldSilver

Pre-Tax NPV8% ($M)

1. Net of gold and silver by-products 2.Average copper price of $3.99/lb, gold price of $1,715/oz and silver price of $22.19/oz

$3.59

$3.99 $4.39

Copper Price $/lb

Pre-Tax IRR 40.00%

27.30%

33.90%

$4.79

45.60%

$3.59

$3.99

$4.39

Copper Price $/lb

$4.79

Alacran Project - Joint Venture with JCHX

Key Transaction TermsJoint venture ownership through CMH Colombia S.A.S.

•  A joint venture company under the laws of Colombia that owns 100% of the Alacran Project $100 million for 50% project stake

• First installment -$40 million (received upon closing of the transation)

• Second installment -$40 million (received in Jan 2024)

•  Cordoba Board approved FS compeleted in Dec 2023

•  EIA (Environmental Impact Assessment) filed in Dec 2023

Third installment -$20 million

•  Approval of the EIA within 2 years of the transaction's closing date

  A

  A'

•  If the EIA is not approved within 2 years of the transaction's closing date, JCHX has the option to not complete the third installment, which will result in JCHX's shareholding to be dilute to 40% and Cordoba will increase to a majority 60% shareholding in CMH

Cordoba Minerals

•  Two out of the four seats on CMH Board

•  One of the seats to serve as the Chairperson with a casting vote

  Joint Venture Shareholders' Rights

•  Operator and manager of the Alacran Project

JCHX

•  Right of first offer to bid on Engineering, Procurement and Construction (EPC) and Detailed Design Agreement (DDA) contracts, provided

•  Entitled

that Cordoba has the right to open the process for competitive tender. JCHX has the right to match any competitive bid to up to 100% of the offtake from the current FS of the Alacran Project, and paying at fair market value, and as themost competitive offer

Alacran Project Focus - Development Phase Underway

Detailed mine engineering and design work to be commenced in Q2 2024

•  Selection process for the detailed design and the engineering and procurement contractor(s) has commenced

•  Early engineering anticipated to complete in late Q4 2024

•  Approx. 30-40% of the engineering tasks required for the Project had been carried out to support the CAPEX calculations for FS

Permitting milestones:

•  PTO (Mining Technical Work Plan) filed in Nov 2021

•  EIA filed in Dec 2023

Assessment for project funding options has commenced

•  ALL combinations of financial instruments currently being evaluated to deliver optimum value for the Project

ESG initiatives - a priority at Cordoba :

•  Working towards the implementation of TSM(1), a globally recognized sustainability program, which is adopted by both Colombian and Canadian Mining Associations

Strong community and government relations

•  Designated as a Project of National Interest by Colombian government

•  Engagement with 12 local communities since 2017

  •  Social Management Plans (PGS) in place focuses on identifying business and job opportunities and community needs associated with current project development

  •  Partnered with Colombia National Training Service (SENA) to design and deliver training programs to develop and upgrade local skilled workforce

  •  Formalization program with informal/artisanal miners

  •  Community engagements focus on the EIA, geological, environmental and archaeological activities

1. TSM stands for Towards Sustainable Mining Initiative and more details atwww.tsminitiative.com

10