Andrea

Update:

Condor acquired the Andrea project because it hosts a compelling high sulphidation epithermal type gold and silver target, hosted in Tertiary volcanics, dating from the Miocene-Pliocene age. Ever Marquez, Condor's VP of Exploration, is very familiar with the epithermal systems and the precious metals metallogeny of south central Peru, having previously worked extensively in the area.

Location & Ownership:

The 8 sq km Andrea project is located in the south-central Andes, at elevations ranging from 4100 to 4600m, approximately 480 km south-east of Lima in the Department of Ayacucho. Andrea is approximately 20 km north of the Breapampa mine of Minas Buenaventura. Acquired by staking, it is 100% owned by Condor.

Recent Work:

An initial reconnaissance mapping effort was completed in May 2017, and a total of 117 rock chip channel samples were collected and analyzed. Exploration sampling and mapping was concentrated in the central part of the project, within a much larger advanced argillic alteration envelope. Gold and silver mineralization is hosted in hydrothermal breccia ledges, with the surface area exposure of the larger breccia being up to 200m in diameter. The breccias exhibit halos of advanced argillic, granular silica and vuggy silica. The sample results confirmed the anomalous presence of pathfinder elements typical of high sulphidation epithermal systems.

Gold assays range from negligible to 4.2 g/t Au, with 23 of the samples showing anomalous gold values exceeding 50 ppb, including 13 samples exceeding 500 ppb, and 7 samples greater than 1 g/t. Samples taken in the 800m diameter 'core area' - 81 of the 117 samples - exhibited more consistent gold values, ranging from 5 ppb to 4180 ppb, and averaged 41 ppb. Measurable silver values were present in all but 6 of the 117 samples, but none of the silver assays exceeded 1 g/t.