On Behalf of the Board of Directors of
CARDERO RESOURCE CORP.
"Henk Van Alphen", President
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.
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.