Marketwire
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2013) - Condor Resources Inc. - ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to advise that it has been notified by Mariana Resources Ltd. ("Mariana") a drill rig has arrived at Condor de Oro, and the initial drill program is set to commence. Under the terms of the definitive agreement with Mariana, Mariana are obligated to complete 1500m of drilling at Area 1 of Condor de Oro prior to January 31, 2014.
In September, Exploraciones Aguila Dorada S.A.C. ("EAD") received approval for initiation of exploration activities, including up to 20 drill holes, on three of EAD's twelve concessions at the Condor de Oro project. Condor has an irrevocable option to acquire 85% of the issued shares of EAD, and in turn, Condor has granted Mariana an option to acquire 60% of Condor's interest, being an overall 51% interest. Mariana is assisting EAD with the drill program under the terms of the option agreement with Condor.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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