News

 July 26, 2007
Condor Closes $2.75 Million Financing

 NOT FOR DISSEMMINATION IN THE UNITED STATES OR FOR RELEASE VIA US NEWSWIRE SERVICES

Vancouver, B.C., July, 26, 2007 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that, further to its news release dated June 29, 2007, it has closed its private placement brokered by PI Financial Corp., (the "Agent") for gross proceeds of $2,750,000 (the "Offering").

The Offering consisted of 5,000,000 units (the "Units") including an over allotment option of 1,000,000 Units at a price of $0.55 per Unit, with each Unit consisting of one common share and one half of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of Condor at a price of $0.75 for a period of 18 months expiring January 26, 2009. The Warrants will be subject to accelerated expiry provisions such that if any time after November 27, 2007, Condor's shares trade on the TSX Venture Exchange at or above a weighted average trading price of $1.25 per share for 20 consecutive trading days, Condor may give notice to the holders that the Warrants will expire 30 days from the date of providing such notice.

The Agent's compensation included an 8% commission paid as to $105,050 in cash, and the balance as to 209,000 units at a deemed price of $0.55 per unit. The Agent's Units have the same terms as the Units of the Offering. The Agent also received 400,000 Agent's options entitling the Agent to purchase up to 400,000 common shares at an exercise price of $0.75 per common share expiring January 26, 2009.

The securities distributed under the Offering are subject to a four month hold period expiring November 27, 2007.

The net proceeds of the Offering will be spent on exploration of the Company's properties, and in particular the newly-discovered porphyry copper mineralized system at the Company's 100%-owned property on the West Fissure in Chile (see the Company's news release dated June 25, 2007).

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 six 100% owned projects in Chile, two projects in Argentina and the recently-acquired La Libertad project in Peru, each providing a unique path to discovery.

ON BEHALF OF THE BOARD

"Pat Burns"
President


FOR FURTHER INFORMATION PLEASE CONTACT:

Bernie Kennedy: 1-877-489-4440
Saf Dhillon: 604-484-2015
email: info@condorresources.com


This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U. S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.
 
 

You can view the Next News Releases item: Wed Aug 15, 2007, Condor's New Porphyry Copper Discovery in Chile Traced for Over Three Kilometres

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