Mr. Lyle Davis reports

COMMUNITY ACCESS AGREEMENT RENEWED AT THE PUCAMAYO PROJECT, PERU

Condor Resources Inc. has signed a multiyear surface rights access agreement with the local community. This agreement allows the company to commence its permitted drill program at the Pucamayo East project.

The access agreement seeks to create a long-term, mutually beneficial arrangement resulting from Condor's exploration activities, and includes commitments to hire locally to the fullest extent possible, support and provide opportunities for local businesses, provide support to the community school in the form of technology and supplies, and provide financial support for an improved community centre. The agreement concluded May 23, 2023, has an initial term of two years and will be in effect until April 10, 2025, which is two years from the date that the agreement was approved at the general assembly of the local community. Due to the mutually beneficial relationship that is being built between the company and the community, Condor expects that the agreement will be extended in due course.

The maiden drill program at Pucamayo East is designed to define the extent of the high-sulphidation epithermal gold-silver mineralized breccias and silicification identified in outcrop and associated with large areas of high-sulphidation vuggy silica alteration. An additional target to be tested includes a leached porphyry stockwork-type alteration with anomalous gold and copper, located near the high-sulphidation target. The program will consist of up to 15 diamond drill holes with a minimum of 2,000 metres of drilling. The company expects to commence the drill program in late June or early July.

Ever Marquez, Condor's vice-president of exploration, states: "With the signing of the renewed community access agreement, Condor is very excited, as the agreement will serve as the basis to commence the maiden drill program at Pucamayo East. This was a protracted process but, in the end, we have signed an agreement that will benefit all stakeholders. Condor is committed to responsible mineral exploration and creating a positive impact in the communities in which we live and work. I would like to thank all parties who worked so hard to get this agreement completed. I would also like to thank our shareholders for their support and patience during this process."

About Condor Resources Inc.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. The company's objective in advancing its portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the company's Lima-based exploration team.

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