CONDOR RESOURCES INC. : http://www.condorresources.com/ : QwikReport

News Releases

#June 07, 2019
Condor Makes Application to Extend Warrant Expiry Date

 Vancouver, B.C., June 7, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) has filed an application with the TSX Venture Exchange to extend the warrant expiry of 2,300,000 warrants until December 31, 2019, from their current expiry of July 8, 2019. The exercise price of $0.10 per share remains unchanged. The proposed amendment to the warrant expiry date is subject to regulatory approval.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#April 24, 2019
Condor Closes Sale of NSR to Chakana on Soledad Project, Peru

 Vancouver, B.C., April 24, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that the agreement announced March 19th regarding the sale of a 1% NSR on Soledad to Chakana Copper Corp. (TSXV: PERU) ("Chakana") has closed. The agreement also includes amendments to the NSR terms of the Assignment and Option Agreement of April 2017, while all other terms, including the remaining cash payments of US$5.225 million, are unchanged. The Assignment and Option Agreement grants Chakana the right to acquire a 100% interest in Condor's Soledad concessions in Peru.

Condor received US$275,000 cash and 900,000 Chakana shares on closing; Condor now owns about 1.5% of Chakana's issued and outstanding shares.

Per the March 19, 2019 agreement, Chakana has been granted a 1% NSR on Condor's Soledad concessions. In the event Chakana does not exercise their option to acquire the Soledad concessions, Chakana will retain the 1% NSR royalty on the concessions, which royalty Condor will have the option to reduce to a 0.5% NSR by payment of US$1 million.

The amended NSR terms of the April 2017 Assignment and Option Agreement stipulate that on exercise of the purchase option by Chakana, Condor will retain a 1% NSR on the concessions and on a 2km area of influence. Previously, Condor retained a 2% NSR. Chakana will have the right to buy down Condor's NSR to a 0.5% NSR by further payment of US $1million. Pre-production NSR payments scheduled to commence in 2022 have been eliminated.

"We are very pleased to conclude this transaction, as we believe it improves the economic potential of Soledad, which will be of benefit to Condor, as both a royalty holder, and as a Chakana shareholder" noted Condor President Lyle Davis.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#March 19, 2019
Chakana Acquires 1% NSR from Condor on Soledad Project, Peru

 Vancouver, B.C., March 19, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that Condor and Chakana Copper Corp. (TSXV: PERU) ("Chakana") have agreed to the acquisition of a 1% NSR by Chakana, and to amend the NSR terms of the assignment and option agreement of April 2017, whereby Chakana has the right to acquire a 100% interest in Condor's Soledad concessions in Peru.

Condor will receive 900,000 Chakana shares (current market value approximately CAD$385,000) and US$275,000 cash (CAD$365,000) in consideration for the 1% NSR granted to Chakana on the Soledad concessions. Under the amended terms of the April 2017 agreement, on exercise of the purchase option, Condor will retain a 1% NSR on the concessions, and on a 2km area of influence. Chakana will have the right to buy down Condor's NSR to a 0.5% NSR by further payment of US $1million. Pre-production NSR payments scheduled to commence in 2022 have also been eliminated. Chakana is aggressively exploring the Soledad Property, but has yet to publish an initial resource estimate.

In the event Chakana does not exercise their option to acquire the Soledad concessions, Chakana will retain a 1% NSR royalty on the concessions, which royalty Condor will have the option to reduce to a 0.5% NSR by payment of US$1 million. All other terms of the assignment and option agreement, including the remaining cash payments of US$5.225 million, are unchanged.

Commented Lyle Davis, Condor President and CEO, "We are pleased to monetize half of the inherent value of the NSR today, yet still maintain an NSR interest and a significant equity position in Chakana, and thereby the project. This amendment not only improves the long-term economics of the project, but gives us direct upside to the 20,000m drill program planned at Soledad for 2019."

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and development is managed by our Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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.
 
#February 13, 2019
Geoff Woad Joins Condor's Advisory Board; Options Granted

 Vancouver, B.C., February 13, 2019 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV: CN) is pleased to announce that Mr. Geoff Woad has joined Condor's Technical Advisory Board. "We are extremely pleased to have Geoff join our technical advisory board; his experience, reputation and skill set will be a great asset to the board and management" commented Lyle Davis, Condor's President and CEO.

During Mr. Woad's 34 year career with BHP he held numerous senior management roles and explored for gold, base metals, diamonds and copper in numerous geological terrains around the world while based in Perth, San Francisco, Dar Es Salaam, Vancouver, Rio de Janeiro, Singapore, and most recently in Lima, Peru, where he established BHP's exploration office. Mr. Woad recently retired from BHP and is currently based in the Vancouver area. He holds a Bachelor of Science Degree with Honours double majoring in Geology and Chemistry from the University of Western Australia, and was recently named a co-recipient of the 2019 AME Hugo Dummett Award for Excellence in Diamond Exploration, and the 2019 PDAC Bill Dennis Award, both for his role in the discovery of the Chidliak diamond district on Baffin Island in Nunavut.

Subject to regulatory approval, Mr. Woad has been granted 500,000 incentive stock options, exercisable at $0.07 per share. The Company also announces the grant of 600,000 incentive stock options, exercisable at $0.06 per share, to employees in the Company's Lima office, replacing options that expired earlier this month.

Mr. John Watt, who has served on the Company's advisory board since January 2015, has resigned, effective February 28, 2019.

Condor is an aggressive explorer focused exclusively on Peru, supplemented by a project generator and royalty model generating exploration capital whilst minimizing shareholder dilution. Our objective is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and development is managed by our Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com


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.
 
#September 17, 2018
Pucamayo Geophysics Completed; Updates on four other Projects

 Vancouver, B.C., September 17, 2018 - Condor Resources Inc. - ("Condor" or the "Company") (TSX.V: CN) is pleased to provide updates on the ongoing work programs at several of our projects. In addition to recently completed geophysics work at our Pucamayo project, and the final 'pre- Declaración de Impacto Ambiental ("DIA") filing' meetings and studies at our Huinac Punta project, there are three active drill programs underway by our partners at the Soledad, Ocros, and Chavin projects.

At the Pucamayo project, additional ground geophysical surveys, consisting of 23 line km of Induced Polarization and Magnetics was completed in August, and extended coverage to the south and east of previous geophysics work at Pucamayo East, and provided additional data to depth on the principal target. Condor is currently working with the IP and magnetometer data, and along with previous work, it will be used to prioritize drill targets. Commented Ever Marquez, VP Exploration, "The results of the geophysical survey convincingly confirm our model. The large area of interest outlined by the geophysics supports our belief in the significant bulk tonnage exploration potential at Pucamayo East." A DIA is in place for the Pucamayo East project.

At the Huiñac Punta project, the informative workshop meetings, attended by officials from the regional Ministry of Energy and Mines and the Company, have been held with two communities that had previously signed long term access and surface rights agreements. All studies required for the DIA have been completed, and we anticipate finalizing the documentation and filing the DIA application by the end of September.

At the Soledad project, optioned to Chakana Copper Corp. ("Chakana"), phase II (20,000m) is now underway, with two drill rigs currently on site drilling Breccias 3E and 6. Phase I concluded in August (18,863m in 70 holes), with drilling concentrated on Breccias #1 and #5. Soledad continues to return impressive results, including 439m from surface of 0.69% copper, 1.45 g/t gold, and 50.5 g/t silver (refer to Chakana's September 11, 2018 press release). To exercise the option to acquire 100% of the Soledad project, Chakana must make further cash payments of US$5.275 million to Condor; Condor retains a 2% NSR.

Compañia Minera Casapalca S.A. ("Casapalca") commenced a drill program at the Chavin project in August 2018. Casapalca's first hole was drilled with a -40° dip to a depth of 513m to test to depth polymetallic veins exposed at surface; the main vein has been traced on surface for over a kilometer. The first hole encountered replacement style metasomatic sulphide bearing alteration over the entire hole, with intervals of mineralized porphyry at depth. The second hole is being drilled vertically from the same platform as the first hole, and will test the metasomatic and porphyry alteration to depth. (http://www.condorresources.com/i/maps/DDH-CH-01-and-02-location.jpg). Chavin is subject to a production lease agreement with Casapalca, with payment to Condor of a 3% NSR, subject to annual minimums. Sandstorm Gold Ltd. have purchased a 50% interest in the NSR.

Compañia Minera Virgen de la Merced S.A.C. ("Merced") commenced a drill program at Ocros in July 2017, and have completed 4 diamond drillholes (2,928m), and are currently drilling their fifth hole (DDH-006), with a targeted depth of 900m. (see http://www.condorresources.com/i/maps/OCROS-NR-slide-23.pdf). Assay results are pending from DDH-004 and DDH-005, and the Company plans to release results for all Merced's drillholes on receipt.

"We have four drills turning on three of our projects, coupled with the high potential, drill ready project at Pucamayo. Importantly, these drill programs have 100% of the capital being committed by our partners which provides us with multiple catalysts without the need to commit capital to our partner projects. We anticipate delivering a DIA for our Huiñac Punta project before year end as well." commented Lyle Davis, Condor President and CEO.

Condor is an aggressive explorer focused exclusively on Peru, supplemented by a project generator and royalty model generating exploration capital whilst minimizing shareholder dilution. Our objective is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and development is managed by our Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

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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