Mr. Lyle Davis reports

CONDOR CLOSES PRIVATE PLACEMENT WITH SANDSTORM GOLD LTD.

Condor Resources Inc. has closed the $500,000 private placement financing with Sandstorm Gold Ltd., as announced in the company's news release of Jan. 30.

The private placement consisted of 6,666,667 units at 7.5 cents, with each unit consisting of one common share and one warrant. Each warrant is exercisable at 15 cents into one common share for a period of five years. No commissions or finders' fees were paid in connection with the private placement. On closing, Sandstorm owns approximately 6.8 per cent of Condor's issued capital.

In addition to the private placement, the $500,000 royalty sale to Sandstorm, as described in the company's Jan. 30, news release, had closed previously.

Proceeds from the private placement and the royalty sale will be used for exploration and general corporate purposes.

Condor is an explorer and project generator focused exclusively on Peru, and its objective is the discovery of a major new precious metals or base metals deposit. Project acquisition and development are managed by its Lima-based exploration team.

We seek Safe Harbor.