Mr. Lyle Davis reports

CONDOR RESOURCES INC.: FIRST DRILL HOLE RESULTS, UPDATES ON THE OCROS PROJECT, ANCASH, PERU

Condor Resources Inc. has received from Compania Minera Casapalca SA the results of DDH-001, which drill hole was completed by Casapalca in late 2016.

DDH-001 is located about 100 metres to the south of the old workings and adits, which run from east to west. DDH-001, with an azimuth of 285 degrees and a dip of minus 75 degrees, was completed to a depth of 500.5 metres and is oriented to closely parallel the old workings.

Core samples were analyzed in two-metre sample lengths, starting at 8.5 metres, and showed anomalous but uneconomic copper values throughout the length of the hole. The best interval was from 98.5 metres to 100.5 metres and reported 1.64 per cent copper and 2.7 grams per tonne gold. Ever Marquez, Condor's vice-president of exploration, noted: "The initial drill hole confirmed the widespread presence of anomalous copper throughout its length, typical of the periphery of a large porphyry system. We will use this information from DDH-001 to help vector in on the core of the system with the next drill holes, expected to start shortly."

Condor is finalizing the detailed agreement with Compania Minera Virgen de la Merced SAC as per the company's news release of Jan. 31. The company anticipates that Merced will commence its exploration program by the second quarter of 2017 as permitting is in place.

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 is managed by the company's Lima-based exploration team.

Brian D. Game, PGeo, is the qualified person under National Instrument 43-101 who has approved the technical content of this news release.

Quality assurance/quality control: Drilling was performed by GeoDrill SAC of Peru. All technical information for the Ocros project is obtained and reported under a quality assurance and quality control program. Samples are shipped to and assayed by SGS del Peru SAC in Lima, a laboratory whose quality control system complies with international standards OHSAS 18001, ISO 14001 and ISO 9001. A four-acid digestion system with 51-element ICP-MS (inductively coupled plasma-mass spectrometry) analysis is conducted on all samples, with silver, copper, lead and zinc being reanalyzed with atomic absorption spectrometry method when analyzing over the ICP-MS limits. Gold is assayed using a fire assay with an atomic absorption spectrometry finish. Systematic assaying of sample duplicates and commercially prepared blanks and standards is performed for analytical reliability. Screen fire assays for gold may be carried out on selected samples. A secure chain of custody is maintained in transporting and storing of all samples.

We seek Safe Harbor.