Mr. Lyle Davis reports

CONDOR RECEIVES DIA FOR PUCAMAYO EAST PROJECT, CENTRAL PERU

Condor Resources Inc. has provided an update on the company's Pucamayo epithermal gold-silver project, located in the Tertiary volcanic belt hosting several major epithermal gold deposits in Peru. Pucamayo is situated approximately 180 kilometres southeast of Lima, in the department of Ica, about 56 kilometres south-southwest of Minera IRL Ltd.'s Corihuarmi gold-silver mine and about 25 kilometres east of Compania Minera Milpo SAA's Cerro Lindo lead-zinc-copper mine.

Disseminated precious metals mineralization at Pucamayo East occurs in hydrothermal breccias cropping out as a partially exposed erosion window below an advanced argillic and granular silica cap. This high-sulphidation system measures 1,200 metres long by 200 metres to 700 metres in width and is surrounded by a low-to-intermediate sulphidation series of quartz epithermal veins.

The company is pleased to announce that it has received written confirmation of the granting of a declarion de impacto ambiental (DIA) from the Peruvian Ministry of Energy and Mines for the Pucamayo East project. "The issuance of the DIA is the result of years of hard work and persistence by our team in Peru, and we thank our shareholders for their patience during this extended exercise," stated Lyle Davis, president and chief executive officer of Condor. The DIA permits the company or assignee to complete up to 20 drill holes at Pucamayo East.

In addition, earlier this year, the company acquired a new three-kilometre-by-one-kilometre concession, named Anta Rumi 101, located south of, and contiguous to, the southern border of its Pucaymayo 14 concession. Official title to Anta Rumi 101 has since been granted.

The acquisition of Anta Rumi 101 is considered by company management to be of important strategic value as a portion of one of the breccia outcrops is located on this new concession and exhibits anomalous gold and silver values in vuggy silica. An earlier rock geochemical sampling program close to the southern border of Pucamayo 14 had produced strongly anomalous gold and silver results.

Finally, the company is pleased to announce that it has recently discovered a breccia-porphyry target located on the northwest periphery of the epithermal targets. This new porphyry target is coincident with a high-chargeability anomaly of up to 600 metres in diameter. Exposed copper porphyry-type stockwork outcrop in a creek gully within the chargeability anomaly comprises quartz-sericite-pyrite-chalcopyrite, limonite and oxides, with strong multiphase stockwork and veinlets, hosted in diorite, along with geochemically anomalous gold and copper in rock-chip samples.

A 2010 geophysical survey conducted at Pucamayo East assisted in defining the geometry of the hydrothermal breccia bodies, as well as leading to the discovery of the new breccia-porphyry target.

Condor geologists believe that both the hydrothermal breccia and vuggy silica system and the newly discovered breccia-porphyry complex at Pucamayo East exhibit above average potential for discovery. With the receipt of the DIA, the company is actively considering its strategic options to advance the Pucamayo East project.

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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