Mr. Mark Child reports

EXERCISE OF WARRANTS AND RECEIPT OF 30,137 POUNDS STERLING

Pursuant to receipt of notices for the exercise of warrants, Condor Gold PLC is issuing 75,342 new ordinary shares with a nominal value of 20 pence each in the capital of the company at a subscription price of 40 pence per share. The company has received gross proceeds of 30,136.8 British pounds.

Application has been made for the shares to be admitted to trading on AIM (Alternative Investment Market), with admission expected to occur on or around Sept. 10, 2020.

The new ordinary shares will rank pari passu with the existing ordinary shares, including the right to receive all dividends and other distributions declared after the date of their issue.

Following admission of the new ordinary shares, the company will have 117,598,520 ordinary shares with a nominal value of 20 pence each in issue with voting rights and admitted to trading on AIM and the Toronto Stock Exchange. This figure may then be used by shareholders in the company as the denominator for the calculation by which they will determine if they are required to notify their interest in or a change to their interest in the share capital of the company under the Financial Conduct Authority's disclosure and transparency rules and National Instrument 62-103, The Early Warning System and Related Takeover Bid and Insider Reporting Rules, of the Canadian Securities Administrators.

About Condor Gold PLC

Condor Gold was admitted to AIM in May, 2006, and dual listed on the TSX 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 an environmental permit 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 environmental permit is considered to be the master permit for mining operations in Nicaragua. Condor Gold published a prefeasibility study (PFS) on the La India project in December, 2014, as summarized in the technical report as defined herein. The PFS details an open-pit gold mineral reserve in the probable category of 6.9 million tonnes at 3.0 grams per tonne gold for 675,000 ounces gold, producing 80,000 ounces gold per annum for seven years. The La India project contains a mineral resource of 9.85 million tonnes at 3.6 grams per tonne gold for 1.14 million ounces gold in the indicated category and 8,479,000 tonnes at 4.3 grams per tonne gold for 1,179,000 ounces gold in the inferred category. The indicated mineral resource is inclusive of the mineral reserve. A gold price of $1,500 per ounce and a cut-off grade of 0.5 gram per tonne and 2.0 grams per tonne gold were assumed for open-pit and underground resources, respectively. A cut-off grade of 1.5 grams per tonne gold was furthermore applied within a part of the inferred resource. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any part of the mineral resources will be converted to mineral reserves.

Environmental permits have also been granted in April and May, 2020, in relation to the Mestiza and America open pits, respectively, both located in the vicinity of the La India project. The Mestiza open pit hosts 92,000 tonnes at a grade of 12.1 grams per tonne gold (36,000 ounces contained gold) in the indicated mineral resource category and 341,000 tonnes at a grade of 7.7 grams per tonne gold (85,000 ounces contained gold) in the inferred mineral resource category. The America open pit hosts 114,000 tonnes at a grade of 8.1 grams per tonne gold (30,000 ounces contained gold) in the indicated mineral resource category and 677,000 tonnes at a grade of 3.1 grams per tonne gold (67,000 ounces contained gold) in the inferred mineral resource category. Following the permitting of the Mestiza and America open pits, together with the La India open pit, Condor has open-pit mineral resources of 1.12 million ounces gold permitted for extraction, inclusive of a mineral reserve of 6.9 million tonnes at 3.0 grams per tonne gold for 675,000 ounces gold.

Qualified person

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 National Instrument 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); and Benjamin 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.