Mr. Mark Child reports

STATEMENT RE PRESS ARTICLE COMMENCEMENT OF OFFER PERIOD

Condor Gold PLC has noted the press article released today and confirms that it has received two non-binding offers from Calibre Mining Corp. and Metals Exploration PLC, which may lead to an offer for the entire issued and to-be-issued capital of Condor (possible offer).

The company announced on Sept. 27, 2024, that, in relation to an asset-only sale of the company's La India project in Nicaragua, the company remained in discussion with a number of interested parties, both longer term and more recent, with several new parties having expressed an interest, been given access to the data room and indicating a wish to conduct site visits. The company has now received two non-binding offers from Calibre and Metals with respect to a possible offer.

There can be no certainty that any firm offer will be made, nor as to the terms on which any firm offer might be made.

In accordance with Rule 2.6(a) of the code, Calibre and Metals are required, by no later than 5 p.m. on Dec. 29, 2024, being 28 days after the date of this announcement, to either announce a firm intention to make an offer for Condor in accordance with Rule 2.7 of the code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the code applies. This deadline may be extended with the consent of the panel on takeovers and mergers in accordance with Rule 2.6(c) of the code.

As a consequence of this announcement, an offer period has now commenced in respect of the company in accordance with the rules of the code and the attention of shareholders is drawn to the disclosure requirements of Rule 8 of the code.

We seek Safe Harbor.