Mr. Lyle Davis reports

COMPREHENSIVE AGREEMENT CONCLUDED WITH COMPANIA MINERA CASAPALCA S.A. FOR OCROS EARN-IN; SOLEDAD DRILL PROGRAM UPDATE

Further to the company's news release of Nov. 17, 2015, Condor Resources Inc. has concluded the comprehensive agreement with Compania Minera Casapalca SA on the Ocros project in Ancash, Peru. Under the agreement, Casapalca may earn a 51-per-cent interest in the Ocros project by completing 6,000 metres of diamond drilling and making cash payments totalling $250,000 (U.S.), over the next three years. Condor received $7,500 (U.S.) on signing the memorandum of understanding and $17,500 (U.S.) on signing the agreement. Casapalca has the option to increase its interest at Ocros to 70 per cent by completing an additional 4,000 metres of diamond drilling (or work equivalent) and by making a further payment of $300,000 (U.S.) within one year of earning its 51-per-cent interest. Condor and Casapalca have been working together to secure community and government approvals for an initial drill program at Ocros and are progressing on schedule.

At Soledad, and further to Condor's news release of March 28, 2016, Casapalca advises that two drill rigs have been in operation since late March. As of April 20, 2016, drilling continues on the first hole and has reached a depth of 575 metres. Drilling of the second hole is also continuing and has reached a depth of 800 metres. The two holes are spaced approximately 500 metres apart, and both are near vertical (dip of minus 80 degrees). Casapalca also advises that sample preparation is well under way on the first 400 metres of each hole, but no samples have been submitted to a lab yet.

We seek Safe Harbor.