Corona

Prospective for: Epithermal Gold-Silver vein and bulk tonnage potential

Location:

The 15 sq km Corona Property is located immediately to the northwest of the town of Combarbala, some 270 kilometres north of Santiago.

Ownership:

100% owned.

Previous Work:

Gold, silver and copper have been mined from north-south vein systems and other structures in this historic mining district for centuries. Recent mining has come from a Cu-Mo breccia pipe at El Sauce, located 3 km to the west of the property, and copper and gold have been mined from another breccia pipe situated farther west, near Quilitapia.

A preliminary 2005 geological report by Dr. Richard Culbert is available at www.sedar.com.

Geology/Mineralization: Condor staked the Corona property to cover a major portion of a large epithermal alteration zone. The north-south elongation of the claim block reflects partial control by faults associated with a regional graben behind the coastal ranges of north-central Chile. The southern sectors of the alteration exhibit massive, fine silica cut by large fracture zones with silica-hematite matrix breccias. The larger northern sector of the property features swaths of similar silica-hematite and major zones of iron oxide - kaolin within a regional alteration of a style known locally as "combarbalite". The alteration zone is surrounded by many small copper oxide and vein gold workings.

Update:

Earlier work conducted by Condor (circa 2005) on the property consisted of regional mapping and sampling. A total of 59 dry wash sediment and 56 rock composites were collected and analyzed for gold and 41 other elements. The majority of the anomalies found are associated with known vein and copper oxide workings peripheral to the alteration. The main silica zone may represent a barren silica cap over a potential precious metals deposit below. The Corona project has never been drill-tested.

A revised mapping and sampling program was completed on the Corona porphyry Cu-Mo project in the first half of calendar 2011 and during July 2011 an IP-resistivity and magnetic geophysical survey was completed over the claims. The Company is awaiting the final geophysical report with conclusions and recommendations but initial geophysical results indicate the presence of a north-south elongated anomaly at depth in the northern portion of the claims. Additional information will be forthcoming once the Company receives the final report from geophysical contractor Argali Geofisica.

Condor is seeking a joint venture partner for the Corona project.