$ 0.070 TSX-V: CDU
$ 0.062 OTC: CDYCF
€ 0.020 FSE: CR51


2002 News

Cardero Resource Corp. (the "Company"), announces that it has granted to a director and a consultant, options to purchase up to an aggregate of 300,000 shares. The stock options are exercisable on or before May 21, 2003 at a price of $0.80 per share and are subject to regulatory approval.

On Behalf of the Board of Directors of


"Henk Van Alphen", President

Contact Information:

Phone 604.408.7488
Fax 604.408.7499
Email hvanalphen@cardero.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release which has been prepared by management.

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