VANCOUVER, B.C., June 21, 2017 (GLOBE NEWSWIRE) -- Condor Resources Inc. - (“Condor” or the
“Company”) (TSXV:CN) is pleased to announce the acquisition of a 100% interest in the Andrea epithermal gold-silver
project in the Department of Ayacucho, approximately 480 km south-east of Lima in the south-central Andes. The mineral rights on
the 8 sq km property were recently acquired by application to the Peruvian Ministry of Energy and Mines. Andrea is approximately 20
km north of the Breapampa mine owned by Minas Buenaventura, and situated at elevations ranging from 4100 to 4600m.
Condor acquired the Andrea project because it hosts a compelling high sulphidation epithermal type gold and
silver target within a core area approximately 800m in diameter. Gold and silver mineralization (up to 4.2 g/t Au) is hosted in
hydrothermal breccias with vuggy silica. The surface area exposure of the largest siliceous breccia is about 200m in diameter, with
a halo of advanced argillic assemblages. The alteration and mineralization is hosted within Miocene to Pliocene aged Tertiary
volcanics.
“I am excited by the exploration potential of our newly acquired Andrea project,” stated Ever Marquez,
Condor’s VP of Exploration, “Based on my experience in the south-central Andes, these high sulphidation type targets can yield
significant discoveries when explored with drilling; we do not believe this project has ever been drilled.”
An initial reconnaissance mapping effort was recently completed, and 117 rock chip channel samples were
collected and analyzed by ALS Peru S.A. in Lima. Exploration sampling and mapping was concentrated in the central part of the
project within a much larger advanced argillic alteration envelope. The sample results also confirmed the presence of anomalous
pathfinder elements typical of high sulphidation epithermal systems. Condor geologists found no evidence of previous exploration
activities or small scale mining on the concession.
Gold assays in the samples range from negligible to 4.2 g/t Au, with 23 of the samples showing anomalous gold
values exceeding 50 ppb, including 13 samples exceeding 500 ppb, and 7 samples greater than 1 g/t. Samples taken in the 800m
diameter breccia ‘core area’ – 81 of the 117 samples – exhibited more consistent gold values, ranging from 5 ppb to 4180 ppb, and
averaged 41 ppb. Measurable silver values were present in all but 6 of the 117 samples, but none of the silver assays exceeded 1
g/t.
More details of the Andrea project can be found on our website at www.condorresources.com/s/ProjectAndrea.asp.
Condor is an explorer and project generator focused exclusively on Peru, and our objective is the discovery of a
major new precious metals or base metals deposit. Project acquisition and development is managed by our Lima based exploration
team.
ON BEHALF OF THE BOARD
Lyle Davis
President & Chief Executive Officer
For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com, OR
Renmark Financial Communications Inc.
Barry Mire: BMire@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
Mr. Brian D. Game, P.Geo, is the Qualified Person under NI 43-101 who has approved the technical content of this
news release.
Quality Assurance/Quality Control: The sampling program was undertaken by Company personnel under the direction
of Ever Marquez, Condor’s VP Exploration. A secure chain of custody is maintained in transporting and storing of all samples.
Samples were delivered to and assayed by ALS Peru S.A. in Lima, a laboratory whose quality control system complies with
International Standards ISO/IEC 17025:2005 and ISO 9001:2015, respectively. Analysis by aqua regia digestion system with 51 element
ICP-MS analysis was conducted on all samples. Gold was assayed using a fire assay with atomic absorption spectrometry/ICP-MS and
gravimetric finish when required. Systematic assaying of sample duplicates and commercially prepared blanks and standards was
performed for analytical reliability by the laboratory. Bedrock rock chip samples are selective by nature and are unlikely to
represent average grades within the bedrock when drilled.
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 Company 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news
release.
