|February 26, 2009|
Condor Acquires the Kury Intsa Gold and Base Metals Property in the Cordillera del Condor, Peru
|TSX.V: CN Shares Outstanding: 24,060,241|
Vancouver, B.C., February 26, 2009 -- Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to announce that it has acquired an irrevocable option for a 100% interest in the Kury Intsa ("Valley of Gold") gold and base metals property in the newly-emerging Cordillera del Condor gold and copper belt in northern Peru along the border with Ecuador.
Three separate gold-copper and associated silver-lead-zinc targets have been identified to date on the Kury Intsa project, in areas where placer gold has been recovered in the main creeks draining the property.
The 70 square kilometer property comprises a total of 10 mining concessions duly filed with the Peruvian mining authority (Instituto Nacional de Concessiones y Catastro Minero -- INACC, located NE of the Company's Condor de Oro and Sol de Oro projects and localized at the intersection of the prolific Cordillera del Condor trend and the Machala metallogenic belt. The Company has commenced filing documentation for the necessary permission required by foreign mining companies operating within 50 kilometres of the border with Ecuador.
Condor now holds agreements granting it control of in excess of 200 square kilometers (20,000 has) of what Condor geologists consider to be some of the most prospective gold and base metal exploration targets within the Cordillera del Condor belt. All three of the Condor projects - Condor de Oro, Sol de Oro and Kury Intsa - exhibit gold and base metals mineralization in outcrop and in historic placer gold workings in streams. The newly-emerging Cordillera del Condor gold and base metals belt has recently been the focus of increasingly intense exploration activity and virtually the entire area is now staked.
Please visit our website for a property location map of the Kury Intsa property and Condor's other projects in Northern Peru.
The Company will soon be releasing results of a recent exploration program on its Condor de Oro project.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of gold and copper 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 an exciting portfolio of properties, including seven 100% owned projects in Chile, and six 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:
Lyle Davis: 1-866-642-5707
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. Dr. Richard Culbert, P.Eng., is the Qualified Person for the Company as required by NI 43-101 and has reviewed the contents of this news release.
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: Tue Mar 3, 2009, Positive Sampling Results at Condor de Oro
You can view the Previous News Releases item: Tue Feb 24, 2009, Condor Signs Amending Agreement for Three Properties in Peru
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