Mr. Lyle Davis reports

CONDOR RESOURCES INC.: RECENTLY COMPLETED GEOPHYSICS, SOLEDAD PROJECT, CENTRAL PERU

Condor Resources Inc. has provided an update on the company's Soledad project, located in the Cordillera Negra metallogenic province approximately 35 kilometres south of Barrick Gold Corp.'s Pierina mine, Peru. Mariana Resources Ltd. has an option to earn a 70-per-cent interest in the project by completing $4-million (U.S.) in cumulative exploration work and making cumulative cash payments of $1.1-million (U.S.) to the company.

Mariana contracted Val d'or Geofisica to complete an induced polarization geophysics survey consisting of six north-south lines at 400-metre spacing, for a total of 12.3 line kilometres, to provide information to an approximate depth of 500 metres.

Along with the 2014 drill program (12 holes, 2,084 metres) and the earlier 2012 geophysics, the latest geophysics program was designed to provide information on the geometry of the nine breccia pipes exposed at surface, and the geometry of the mineralized porphyry interpreted to be the source of the breccias. The breccias have been observed to contain mineralized porphyry clasts at depth, supporting the interpretation of a mineralized porphyry system below the breccias.

The new geophysical data, together with additional surface geochemical and PIMA sampling completed by Mariana, have resulted in three target areas being identified for the 2015 drill program at Soledad.

Mariana has identified the priority drill targets at Soledad as outlined below.

Soledad Central

A prominent low-resistivity/high-conductivity anomaly approximately 500 metres in length by 400 metres in width is best developed at vertical depths exceeding 300 metres, and importantly underlies mineralized breccia pipes 5, 6 and 4. This highly conductive zone is interpreted to coincide with the root zone to the three breccia pipes, and is thought to be a concealed breccia target. There is moderate copper and gold geochemical (systematic rock chip sampling) anomalism at surface. The new target is below the previous breccia 5 intersection in SDH-07: 96 metres at 0.92 gram per tonne gold, 15 grams per tonne silver and 0.22 per cent copper from 33 metres; and SDH-12: 139 metres at 0.4 per cent copper, 1.4 grams per tonne gold and 15 grams per tonne silver from 87 metres.

Faro

A second low-resistivity/high-conductivity anomaly lying on the western margin of the survey area associated with breccia 9. As the anomaly lies on the limits of the survey area, Mariana is planning an additional line or two of induced polarization to more accurately locate the position of the Faro target. A coincident surface copper-gold-molybdenum geochemical anomaly is located approximately 500 metres due west of breccia pipe 4. This geochemical signature is more typical of porphyry-type systems, and could represent an extension to the porphyry-style mineralization and hydrothermal alteration identified at depth in drill hole SDH-12.

Cima Blanca

A near-surface, high-resistivity/low-conductivity anomaly located in the northeastern part of the survey area at Cima Blanca. This high-resistivity zone likely represents silicification within the Cima Blanca lithocap, with the geological interpretation being that the lithocap usually lies above, and is slightly offset from, the main porphyry copper-gold centre in telescoped porphyry systems. Previous hole SDH-03 intersected five metres at 3.9 grams per tonne gold and 13 grams per tonne silver from 43 metres in this vicinity.

Ever Marquez, Condor's vice-president exploration, commented: "The geophysic anomalies and the interpreted geometry below breccias 4, 5 and 6 indicate the possibility of a root zone for these mineralized breccias, as confirmed by the 2014 drill program. The potential for a large breccia body and/or a porphyry system will be targeted in the upcoming drill program."

Dr. Richard Culbert is the qualified person under National Instrument 43-101 who has approved the technical content of this news release.

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