|December 10, 2008|
Amendment to Warrant Terms
|TSX.V: CN Shares Outstanding: 24,060,241|
Vancouver, B.C., December 10, 2008 -- Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) advises that, subject to regulatory and warrant holder approval, Condor will amend the terms of 1,981,622 warrants that are scheduled to expire January 26, 2009. The Company is proposing to extend the warrant term 18 months to July 26, 2010, and reduce the warrant exercise price to $0.20. Further, the warrants will have an accelerated expiry provision such that if the closing price of the Company's shares is equal to or greater than $0.27 for 10 consecutive trading days, the expiration of the warrants will be 37 calendar days later. The warrants are not held by any Company insiders.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of copper and gold projects in Latin 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 seven 100% owned projects in Chile, and four in Peru, each providing a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at:
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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