|August 16, 2012|
Warrant Term Extended
|Amendment to Outstanding Share Purchase Warrants|
Vancouver, B.C., August 16, 2012 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) announces that the term of the share purchase warrants issued on September 3, 2010 have been extended from their current expiry date of September 3, 2012 to September 3, 2014. A total of 1,500,000 non-transferable share purchase warrants (a "Warrant" or the "Warrants") were issued to subscribers of the private placement which closed on September 3, 2010. As originally issued, each Warrant entitled the holder to purchase one common share of the Company at the price of $0.40 per share at any time up to 4:00 pm on September 3, 2012.
As a result of extension of the term of the Warrants, each Warrant now entitles the holder to purchase one common share of the Company at the price of $0.40 per share at any time up to 4:00 pm Vancouver time on September 3, 2014. As at today's date, none of the Warrants held by subscribers to the private placement had been exercised.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long term objective is the discovery of a major new precious/base metals deposit and its business plan offers shareholders access to an exciting portfolio of fifteen properties in Peru and Chile, each offering 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 email@example.com
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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