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Condor Resources Inc
Symbol CN
Shares Issued 102,057,308
Close 2017-09-25 C$ 0.095
Market Cap C$ 9,695,444
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Condor optionee completes 2,065m of drilling at Soledad

2017-09-26 11:54 ET - News Release

Mr. Lyle Davis reports

CONDOR PROVIDES UPDATES ON DRILLING PROGRAMS AT SOLEDAD AND OCROS PROJECTS

Condor Resources Inc. has provided updates on the continuing diamond drill programs at the Soledad project and at the Ocros project, both in the Ancash department, Peru.

As announced Aug. 16, 2017, Chakana Resources SAC commenced drilling operations at Condor's wholly owned Soledad project. As of Sept. 22, 2017, Chakana advises it has completed 2,065 metres of drilling in nine holes. These holes have been drilled at breccia pipe No. 1 and are designed to provide detailed information on the geometric size and mineralized grades of this tourmaline breccia pipe. It is expected up to 12 drill holes will be completed at breccia pipe No. 1, and then the drill rig will be relocated to breccia pipe No. 5, where a similar program will be undertaken. The company expects to receive the first results at Soledad from Chakana in early October.

Chakana has the option to earn a 100-per-cent interest in Soledad over a period of 4.5 years, subject to a 2-per-cent net smelter return royalty in favour of Condor.

As announced July 5, 2017, Compania Minera Virgen de la Merced SAC (Merced) commenced drilling operations at Condor's Ocros project. As of Sept. 22, 2017, Merced advises it has completed 719 metres of drilling in the first hole, and drilling continues on this hole. Drilling to date has been slow due to mechanical breakdowns and a 12-hour-per-day drilling schedule. Merced's drill program is intended to test the continuity of the copper porphyry mineralization over an approximate area of 1.5 square kilometres centred around the adits of the historical Eldorado mine. The company expects to receive the first drill results at Ocros from Merced in mid-October.

Merced has the option to earn a 70-per-cent interest in Ocros over a period of four years.

Lyle Davis, Condor's president and chief executive officer, noted: "We are very pleased with the progress made at Soledad since mid-August and believe that the mechanical issues at Ocros have now been resolved. Our shareholders can look forward to regular updates from these projects over the coming months. And with a drill permit anticipated at our Chavin project shortly, we hope to have a third drill program under way before year-end."

Condor is an explorer and project generator focused exclusively on Peru, and its objective is the discovery of a major new precious metal or base metal deposit.

We seek Safe Harbor.

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