Mr. Lyle Davis reports

BONANZA GRADE SILVER SAMPLES AT HUINAC PUNTA PROJECT, PERU

Condor Resources Inc. has provided the summary results from the recent reconnaissance work at the Huinac Punta project in the Huanuco department, Peru.

Huinac Punta is located on the eastern part of the Mesozoic polymetallic carbonate sediment host belt in central Peru, host to the Antamina mine approximately 80 kilometres to the northwest. The mineral deposit in Antamina is a skarn type of deposit containing copper/zinc, silver, molybdenum and bismuth, and it is currently considered the largest of its kind in the world, according to the Antamina website.

Huinac Punta covers approximately 20 square kilometres acquired by staking and is 100 per cent owned by Condor, subject to a 0.5-per-cent net smelter return royalty held by Sandstorm Gold Ltd. Topography is gently rolling to steep, with elevations ranging from 3,800 metres to 4,300 metres. Discreet evidence of old Spanish workings -- small dumps and several collapsed adits -- are not obvious and are hidden by modest grass vegetation.

In October, 2017, an initial reconnaissance and sampling program was undertaken by Condor under the guidance of Ever Marquez, vice-president of exploration. A total of 26 rock-chip channel samples were collected over an area of interest approximately 500 metres by 800 metres. Eighteen of the 26 samples were two-metre-long rock-chip samples from outcrop/bedrock, while eight of the samples were one-metre-long rock-chip samples taken from rocks in dump piles, which rocks are assumed to have been sourced from the old adits. As the rock-chip samples were selected samples taken from outcrop/bedrock or from rocks in dump piles, they may not be representative of the mineralization hosted on the project.

Five of the samples reported high silver values (greater than 500 grams per tonne), with the highest silver values (4,115 grams per tonne and 3,225 grams per tonne) recorded in the bedrock samples. Anomalous copper results were also noted, with reported values up to 2.7 per cent copper (dump sample). Anomalous zinc values were present in all samples, up to a value of 0.6 per cent zinc (bedrock sample) and anomalous cobalt up to 0.3 per cent (dump sample).

Mr. Marquez made the following field observations: "The alteration assemblages have replaced the limestone sequences in contact with the granitic intrusive, with occurrences of pervasive silicification in the lower part of the limestone, with massive dark sulphides and oxides. In the upper part of the limestone, we see brecciated decalcifications, with minor sulphides and oxides. I would consider Huinac Punta as a new discovery in the Mesozoic polymetallic carbonate sediment host belt of central Peru, with great potential for bulk-tonnage silver, copper and zinc resources."

Subsequent to receipt of the results, Condor commenced the application process for the declaracion de impacto ambiental (DIA) for the Huinac Punta project.

Condor is an explorer and project generator focused exclusively on Peru, and the company's objective is the discovery of a major new precious metal or base metal deposit. Project acquisition and development are 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 scientific and technical content of this news release.

Quality assurance/quality control

The sampling program was undertaken by company staff under the direction of Mr. Marquez. A secure chain of custody is maintained in transporting and storing of all samples. Samples were delivered 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. Analysis by four-acid digestion system with 51-element ICP-MS analysis was conducted on all samples. Gold was assayed using a fire assay with atomic absorption spectrometry and gravimetric finish when required. Copper and silver samples over the upper detection limit of ICP-MS were reanalyzed by atomic absorption spectrometry. Systematic assaying of sample duplicates and commercially prepared blanks and standards was performed for analytical reliability by the laboratory. Rock-chip samples from outcrop/bedrock or from rocks in dump piles are selective by nature and they may not be representative of the mineralization hosted on the project.