Mr. Mark Child reports

GRANT OF OPTIONS

On Nov. 21, 2019, Condor Gold PLC granted 200,000 share options under the company's existing share options to Ian Stalker, a newly appointed non-executive director to the company.

The share options were granted by the remuneration committee and approved by the board.

The options have an exercise price of 22 pence per share, being 10 per cent above the 10-day volume-weighted average closing price as of Nov. 20, 2019. They may be exercised up to five years from the grant date, with the restriction that no options can be exercised within 12 months of the grant date, only up to 50 per cent of the options can be exercised in the following 12 months and thereafter 100 per cent of the said options can be exercisable, provided that the grantee remains with the company.

Following the grant of the options, the total share options outstanding will represent 10.9 per cent of the 94,663,522 ordinary shares in the company in issue.

About Condor Gold PLC

Condor Gold was admitted to Alternative Investment Market in May, 2006, and dual listed on the Toronto Stock Exchange in January, 2018. The company is a gold exploration and development company with a focus on Nicaragua.

In August, 2018, the company announced that the Ministry of the Environment in Nicaragua had granted the company the environmental permit (EP) for the development, construction and operation of a processing plant with capacity to process up to 2,800 tonnes per day at its wholly owned La India gold project. The EP is considered to be the master permit for mining operations in Nicaragua.

Qualified persons

The mineral resource estimate has been completed by Ben Parsons, a principal consultant (resource geology) with SRK Consulting (U.S.) Inc., who is a member of the Australian Institute of Mining and Metallurgy, MAusIMM (CP). Mr. Parsons has about 18 years of experience in the exploration, definition and mining of precious and base metal mineral resources. Mr. Parsons is a full-time employee of SRK Consulting (U.S.) Inc., an independent consultancy, and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a qualified person as defined by National Instrument 43-101 and as required by the June, 2009, edition of the AIM note for mining and oil and gas companies. Mr. Parsons consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

The technical and scientific information in this press release has been reviewed, verified and approved by Andrew Cheatle, PGeo, who is a qualified person as defined by NI 43-101.

Technical information

Certain disclosure contained in this news release of a scientific or technical nature has been summarized or extracted from the technical report entitled "Technical Report on the La India Gold Project, Nicaragua, December 2014," dated Nov. 13, 2017, with an effective date of Dec. 21, 2014, prepared in accordance with NI 43-101. The technical report was prepared by or under the supervision of Tim Lucks, principal consultant (geology and project management), Gabor Bacsfalusi, principal consultant (mining), Ben Parsons, principal consultant (resource geology), each of SRK Consulting (U.K.) Ltd., and Neil Lincoln of Lycopodium Minerals Canada Ltd., each of whom is an independent qualified person as defined by NI 43-101.

We seek Safe Harbor.