Mr. Lyle Davis reports

CONDOR ANNOUNCES SAMPLE RESULTS FROM LUCERO PROJECT, PERU

Condor Resources Inc. has released results provided from a third party sampling program conducted at Condor's wholly owned Lucero project in southern Peru, approximately 22 kilometres southwest of the Orcopampa mine of Buenaventura. Lucero is currently leased to Compania Minera Casapalca SA of Lima in return for a 3-per-cent net smelter return royalty, which is shared on an equal basis with Sandstorm Gold Ltd. Casapalca is currently procuring permits prior to commencing exploration and production, and to date, Condor has received $150,000 (U.S.) in minimum royalties.

The Lucero project is home to the former Shila mining district, where gold/silver mining was conducted in at least three underground locations from the late 1980s until 2005. Publicly available production records from 1998 through 2004 from the previous operator show the average grade mined during this seven-year period was 14 grams per tonne (g/t) gold and 373 g/t silver.

The sampling program was conducted in late 2016 by a third party, with the agreement of the company and Casapalca. The sampling locations were dispersed over the concessions and tested six different target areas. In total, 60 samples were taken and analyzed, with the majority (50) being outcrop channel samples. Most of the outcrop samples (44 of 50) were taken at surface, while several of the outcrop samples (six of 50) were taken from the wall rocks and mineralized structures inside the former underground workings. The balance of 10 (non-outcrop) samples consisted of eight grab samples taken at surface and two grab samples from inside the old workings.

From the 60 samples, reported gold values ranged up to 144 g/t gold, with 21 of the samples reporting gold values greater than one g/t. Silver values ranged from 0.1 g/t silver to greater than 10,000 g/t silver, with 23 of the samples reporting silver values greater than 50 g/t. Sample No. 3938, a 1.8-metre rock channel sample taken at surface from and perpendicular to the strike of the principal vein in the Sando Acalde area, reported 18.9 g/t gold and greater than 10,000 g/t silver (the upper analytical limit of the laboratory analysis utilized).

This recent sampling program confirms the bonanza-grade precious metals reported from earlier mining operations and reinforces the company's belief in the potential for Lucero to host additional resources in the many structures (over 80 veins have been mapped at surface) and also in the prospectivity of the high-sulphidation epithermal bulk-tonnage target.

"Our Lima-based exploration team has consistently generated a pipeline of high-quality exploration projects," noted Condor president Lyle Davis. "The Lucero project, which was acquired by staking at minimal cost to the company, is one of many great examples of their capabilities."

About Condor Resources Inc.

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.

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

The sampling program was undertaken by a Canadian-headquartered gold mining company with annual production in excess of 500,000 ounces of gold per year and no direct or indirect interest in the Lucero project. Condor personnel and/or consultants were not involved in the sampling program and cannot confirm the quality control and quality assurance methods used. Samples were received and prepared by ALS Peru SA in Arequipa and were assayed by ALS in Lima, a laboratory whose quality control system complies with international standards ISO 9001:2008 and accredited with ISO 17025 by the IQNet and Standards Council of Canada, respectively. Analysis by aqua regia digestion system with 35-element ICP-AES analysis was conducted on all samples. Gold and silver were assayed using a fire assay with atomic absorption spectrometry/ICP-AES and gravimetric finish when required. Systematic assaying of sample duplicates and commercially prepared blanks and standards was performed for analytical reliability by the laboratory.

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