Mr. Chris Buncic reports

CONDOR RESOURCES ANNOUNCES DRILLING PROGRAM AT THE COBREORCO COPPER-GOLD PROJECT, PERU

Drilling will commence at Condor Resources Inc.'s Cobreorco copper-gold project in Apurimac, Peru. The 3,500-metre diamond drilling program, comprising six priority holes, is the first drill program at Cobreorco under the company's option and joint venture agreement with Teck Peru SA, a subsidiary of Teck Resources Ltd., and follows the extensive geophysical, geochemical and geological work completed in 2025 that defined the target.

The program will be carried out with two diamond drill rigs. The first rig is mobilizing to begin drilling in June, 2026, with a second rig to be added over the following weeks to advance the program in parallel. Drilling is designed to test a coincident copper-gold skarn and porphyry target supported by overlapping magnetic, gravity and induced polarization anomalies.

Chris Buncic, president and chief executive officer of Condor, commented: "Commencement of drilling at Cobreorco is a milestone our shareholders have waited a long time for and one we are very pleased to reach. Teck has done outstanding work refining the geological model and completing the technical, social and permitting groundwork, and this program is the culmination of that effort. Cobreorco sits in one of the most prolific copper-gold belts in Peru, alongside world-class deposits such as Las Bambas, and we believe a well-targeted drill program has the potential to deliver meaningful value for Condor shareholders."

The 2026 program targets a structurally controlled and intrusive-related copper-gold-iron skarn and porphyry system hosted in Eocene intrusions. The principal objective is to intersect high-grade skarn mineralization, interpreted as a cluster of discrete mineralized cells, related to potassic-altered, copper-oxide-bearing dikes mapped at surface, and a potential underlying porphyry interpreted as the source of the broader hydrothermal system. The target is defined by coincident high-chargeability, magnetic-high and elevated-density responses across the main porphyry-skarn footprint.

Cobreorco lies within the Southern Peru Eocene metallogenic belt, host to a number of large copper-gold skarn and porphyry deposits that share the same carbonate host stratigraphy and Eocene intrusive ages (approximately 34 million years old) interpreted at Cobreorco. Deposits within the belt include Ferrobamba at the Las Bambas mining complex (2.3 billion tonnes grading 0.55 per cent copper), Coroccohuayco in the Tintaya district (184 million tonnes grading 1.02 per cent copper) and Haquira (1.4 billion tonnes grading 0.45 per cent copper). These deposits illustrate the scale and grade potential of well-developed skarn-porphyry systems in the belt and provide geological context for the style of mineralization Condor and Teck are testing at Cobreorco.

Readers are cautioned that mineralization hosted on adjacent, nearby and/or analogous properties is not necessarily indicative of mineralization on the company's property. The deposits referenced above are provided for geological context only.

Samples will be submitted for assay on a hole-by-hole basis following completion of first-pass core logging. Allowing for laboratory turnaround, the company anticipates receiving initial assay results in early August, 2026, and will provide results as they are received, compiled and interpreted.

Cobreorco comprises nine mineral concessions totalling approximately 5,100 hectares and is located in the Southern Peru Eocene belt, approximately 175 kilometres southwest of Cusco. The project hosts copper-gold skarn and porphyry-style mineralization and is considered by management to represent a significant discovery opportunity. Cobreorco is being advanced pursuant to Condor's option and joint venture agreement with Teck, the details of which are available in previous corporate disclosures.

Technical disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Quinton Hennigh, PGeo, PhD, a qualified person as defined by National Instrument 43-101 and a director of Condor Resources.

About Condor Resources Inc.

Condor Resources is a precious and base metals 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 metals 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 (CRD) silver-dominant polymetallic mineralized body, with the potential for discovery of a bulk-tonnage silver and base metals deposit. The company has also optioned the Cobreorco project, which targets gold-copper skarn and porphyry-style mineralization to a subsidiary of Teck Resources. 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.