Early Warning Report Filed Pursuant to Canada's National Instrument 62-103

Vancouver, British Columbia--(Newsfile Corp. - September 14, 2021) - This news release is issued by I-Pulse Inc. ("I-Pulse") pursuant to the early warning requirements of Canada's National Instrument 62-103 with respect to common shares of Cordoba Minerals Corp. ("Cordoba").

On August 16, 2021, Cordoba and I-Pulse's affiliate, Ivanhoe Electric Inc. ("IVNE") entered into a standby commitment agreement, whereby IVNE agreed that it will exercise its basic subscription privilege in Cordoba's rights offering transaction ("Rights Offering") (refer to Cordoba's news release dated August 16, 2021) to maintain its pro rata equity interest in Cordoba and exercise rights to purchase an additional 16,362,669 Cordoba common shares (the "Cordoba Shares").

In addition, if less than the maximum number of Cordoba Shares that may be issued under the Rights Offering are subscribed for by other Cordoba shareholders, excluding those rights JCHX Mining Management Co. Ltd. ("JCHX") hold and which JCHX have committed to exercise, IVNE will purchase such number of Cordoba Shares, to a maximum of 5,860,939 Cordoba Shares, so that the maximum number of Cordoba Shares that may be issued under the Rights Offering will have been issued.

On the record date for the Rights Offering, IVNE owned 36,064,136 Cordoba Shares, representing 58.9% of all outstanding Cordoba Shares, and warrants to acquire an additional 1,829,498 Cordoba Shares. If all other Cordoba shareholders exercise all rights issued to them under the Rights Offering, then after the Rights Offering is closed, IVNE will be the registered owner of 52,426,805 Cordoba Shares, representing 58.9% of all common shares of Cordoba.

If, excluding JCHX, no other Cordoba shareholder exercises any rights, IVNE will purchase such number of Cordoba Shares under the Rights Offering, to a maximum of 5,860,939 Cordoba Shares, so that the maximum number of Cordoba Shares that may be issued under the Rights Offering will have been issued. IVNE would then be the registered owner of as much as 58,287,744 Cordoba Shares representing 65.5% of Cordoba Shares.

All of the securities described in this release as owned by, or to be subscribed by IVNE are, and will be, beneficially owned and controlled by I-Pulse.

I-Pulse, through IVNE, is acquiring these shares for investment purposes. Depending on economic or market conditions or matters relating to Cordoba, I-Pulse or IVNE may choose to either acquire or dispose of additional Cordoba Shares.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder, please go to Cordoba's profile on the SEDAR website (www.sedar.com), or contact Sam Kenny at (604) 689-8765. I-Pulse has an office c/o 606-999 Canada Place, Vancouver, British Columbia, Canada, V6C 3E1.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96573

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