Pucarima/Chavin

The Chavin (formerly called "Pucarima") Property covers an area of six sq km within the central Andes mineral belt in northern Peru, and is host to a polymetallic vein system. Chavin is located 45 km NW of the Pierina gold-silver mine operated by Barrick Gold Corporation and 10 km SW of the Pashpap Cu-Mo porphyry project.

The property covers silicified and potassic altered sediments and a quartz-feldspar porphyry intrusive cut by a number of subparallel epithermal polymetallic veins. The principal vein identified to date has been traced over 1000 metres averaging 2 to 5 metres in width. Preliminary channel samples over a length of 3 to 5 metres across this vein have returned polymetalic values from negligible to a maximum of 13.9 g/t Au, 1,645 g/t Ag, 25.7% Pb, 10.7% Zn and 0.2% Cu. These results indicate potential for the discovery of high grade 'bonanza-style' mineralization within this vein system. Quartz-vein stockworks within the intrusive are also anomalous and will be evaluated for epithermal precious metals mineralization.

Previous small mining activity on the principal vein is evident by a 50 metre long tunnel dating from the 1970's. In the 1990's, a small drill program resulted in three short holes being drilled, two of which missed the structure completely. The third hole appears to have been drilled primarily within the hanging wall of the vein and from surface averaged 1.14 g/t Au, 26 g/t Ag, 2% Pb and 1% Zn over 14.1 metres, before exiting the mineralization. This work is not NI-43-101 compliant and therefore may not be relied upon.

Condor has a 100% interest in the Chavin property, which it acquired by staking.

In April 2010, Condor entered into an agreement with Silex Peru SRL, the Peru subsidiary of Golden Minerals Company ("Golden") (TSX: AUM; NYSE AMEX: AUMN) granting Golden the option to acquire a 65% interest in Condor's Chavin Property.

Golden can acquire a 65% interest in Chavin by incurring exploration expenditures of US$1,400,000 and by paying Condor a minimum of US$130,000 in cash over three years. If the option is exercised, the Property title will be transferred into a single-purpose company in which Condor and Golden will have 35% and 65% shareholdings respectively. If Condor elects to not contribute to the costs of a pre-feasibility study and a feasibility study, Golden can increase its shareholding up to 75%.