Condor Resources Inc. announced encouraging assay results from the maiden diamond drill program that concluded in December at the Pucamayo East project in Peru. A total of 2,353m was drilled in nine diamond drillholes, testing a 600m by 900m (0.54 sq km) area of the four square kilometer advanced argillic alteration zone exposed on the Pucamayo property. Highlights of mineralized intercepts include: 0.83 g/t AuEq over 72.5m including a sub-interval of 18.96 g/t AuEq over 2.0m in hole PUC-E005, 1.11 g/t AuEq over 11.8m and a second interval of 0.53 g/t AuEq over 52.2m in hole PUC-E-001, 0.63 g/t AuEq over 10.3m in hole PUC-E-004, 1.42 g/t AuEq over 2.0m and a second interval of 8.26 g/t AuEq over 2.0m in hole PUC-E-006, 1.62 g/t AuEq over 3.8m in hole PUC-E-007, 1.06 g/t AuEq over 20m in hole PUC-E-008, and 0.44 g/t AuEq over 32.8m in hole PUC-E-009.

Six of the nine drillholes tested the extent of high sulphidation type epithermal gold and silver bearing outcropping ledges of breccia and four of these (PUC-E-001, 007, 008 and 009) intersected near surface gold-silver-poly metallic intervals ranging from 3.8m to 52.2m, and grades from 0.1 to 1.1 g/t AuEq. Two holes (PUC-E-002 and 003) drilled to the east and collared higher in elevation encountered barren steam heated host rocks interpreted to lie above the mineralized zones intersected in PUC-E-001, 007, 008 & 009. A detailed drill hole location map is available on the Company website.

Three deeper holes (PUC-E-004, 005, and 006) tested an outcropping area of multi phase stockwork and alteration associated with anomalous gold and copper with associated IP chargeability and resistivity anomalies interpreted to be an intrusive related system. The best of these, PUC-E-005 intersected a 72.5 interval from 190-262.5m grading 0.45 g/t Au, 30 g/t Ag (0.83 g/t AuEq) including a 2 m high grade interval of 11.43 g/t Au, 687 g/t Ag (18.96 g/t AuEq). PUC-E-006 intersected a 2m interval grading 7.97 g/t Au, 20.9 g/t Ag (8.26 g/t AuEq).

All three of these holes encountered extensive amounts of pyrite and discontinuous zinc, copper, and lead mineralization associated with argillic/phyllic altered andesitic/dioritic host rocks. Condor recognizes that the inaugural drill program has tested a relatively small portion of the 4 sq km area of argillic/silicic alteration zone present on the property. This large alteration zone is interpreted to represent a halo or high level-lithocap lying above a potentially mineralized porphyry system at depth to the southeast of the drilled area.

This area lies within the Company's concessions, but requires an expansion of the permitted (DIA) work area. Mineralogical (Terraspec) studies to evaluate alteration zoning are currently underway on material collected from the recent drilling program to assist in vectoring towards future potential target areas. 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.

The Company's objective in advancing its 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.