Mr. Chris Buncic reports

CONDOR RESOURCES ANNOUNCES LIFE OFFERING PRIVATE PLACEMENT OF UP TO $1.5 MILLION

Condor Resources Inc. has arranged a non-brokered private placement of up to 12.5 million units of the company at a price of 12 cents per unit for gross proceeds of up to $1.5-million pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions). Each unit will consist of: (i) one common share of the company; and (ii) one-half of one non-transferable common share purchase warrant. Each whole warrant will be exercisable for a period of 36 months from the closing date (as defined herein) and will entitle the holder thereof to purchase one additional common share: (i) at an exercise price of 15 cents per warrant share if duly exercised on or before the date that is 24 months following the closing date; or (ii) thereafter at an exercise price of 20 cents per warrant share.

The company intends to use the net proceeds raised from the LIFE offering for exploration at the Huinac Punta project, the Pucamayo project and general corporate purposes.

Chris Buncic, president and chief executive officer, commented: "We are excited to come back to market to fund the next phase of growth for Condor. This financing marks the beginning of a dynamic and promising period for the company, and we look forward to reporting on our progress on several fronts over the coming months."

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, the units sold pursuant to the LIFE offering will be offered in all provinces of Canada except Quebec pursuant to the listed issuer financing exemption. Subject to the rules and policies of the TSX Venture Exchange, the securities issuable from the sale of units to Canadian resident subscribers will not be subject to a hold period under applicable Canadian securities laws. Insiders and certain consultants that participate in the LIFE offering would be subject to a four-month hold period in respect of securities issued pursuant to applicable policies of the TSX-V.

There is an offering document related to the LIFE offering that can be viewed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

It is expected that closing of the LIFE offering will take place on or about April 30, 2025, or such other date(s) as may be determined the company. Closing of the LIFE offering is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX-V.

It is anticipated that insiders of the company may participate in the LIFE offering, and such units issued to insiders will be subject to a four-month hold period pursuant to applicable policies of the TSX-V. The issuance of units to any insiders will be considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). In respect of any such insider participation, the company expects to rely on exemptions from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a), as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the company's market capitalization.

As consideration for services, certain eligible finders may receive: (i) an aggregate cash fee equal up to 8.0 per cent of the gross proceeds of the LIFE offering from investors introduced to the company by the finder; and (ii) non-transferable common share purchase warrants representing up to 8.0 per cent of the aggregate number of shares forming part of the units issued to investors introduced to the company by the finder. Each finder's warrant will entitle its holder to purchase one share at a price of 12 cents per share for a 24-month period. Other than the exercise price and exercise period, the finder warrants shall be subject to the same terms and conditions as the warrants.

About Condor Resources Inc.

Condor Resources is a precious and base metal exploration company focused on its portfolio of projects in Peru. The company's flagship project, Pucamayo, is an 85-square-kilometre property containing a high sulphidation epithermal system with disseminated precious metal mineralization with a large lithocap alteration visible at surface. The Huinac Punta project, a 7,200-hectare property in Huanuco, Peru, has the potential to host a large carbonate replacement style silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metal deposit. The company has optioned several large projects to partners which continue to advance these projects. The company's award-winning exploration team in Peru has a long history of success in discovering and advancing high-quality exploration projects and managing the social aspects of its exploration activities.

We seek Safe Harbor.