|December 12, 2006|
Drilling Commences on the Escudo porphyry copper target
|Vancouver, B.C., December 12, 2006 -- Condor Resources Inc - ("Condor" or the "Company") announces that drilling has commenced on its 100% owned Escudo porphyry copper project located in northern Chile. Approximately 6 to 10 vertical reverse circulation holes will be completed for a total of 2500 to 3000m to test the large Induced Polarization ("IP") and resistivity anomaly and other geological targets located within the 98 sq km property.|
The Escudo porphyry copper project is located on the prolific West Fissure fault system in northern Chile, between BHP's Escondida mine and Codelco's El Salvador deposit. Previous exploration by Condor at Escudo delineated a 25 sq km IP and resistivity geophysical anomaly at an estimated depth of 150 to 200m below surface. The IP response exhibits characteristics similar to several known large buried porphyry copper deposits such as the Collahuasi and Ujina mines located further to the north.
Escudo is considered to be one of the most favourable, as yet untested, porphyry copper targets in Chile's "elephant country" with respect to copper.
In addition, Condor has regained 100% ownership of its Cristal property. The Company recently received a letter from Peregrine Metals Ltd. ("Peregrine") terminating the Cristal Project property option agreement after conducting one 10 km IP line across the southern end of the property. Condor management will be reviewing results of this survey once the geophysical data package has been received from Peregrine.
Condor Resources Inc. was incorporated in 2003 by exploration specialists focused on the generation of copper and gold projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long-term business plan offers shareholders access to a growing portfolio of properties, including five 100% owned projects in Chile along with two recently-acquired gold projects in Argentina, each providing a unique path to discovery.
On behalf of the Board of Directors,
Signed "Pat Burns"
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact:
Bernie Kennedy: 604-495-6330
Saf Dhillon: 604-484-2015
Condor Resources Inc.
910-885 Dunsmuir Street,
Vancouver, BC V6C 1N5
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
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