La India Project Progress In Advancing Construction Stage

LONDON, UK - Condor Gold Chairman and CEO, Mark Child, said, ”Condor has made excellent progress advancing the La India Project to a construction decision and has acquired 85% of the land within the permitted La India open pit mine site infrastructure, including the location of the processing plant, tailings storage facility, open pit, waste dump area, explosive magazine, office and accommodation blocks and other key component areas required for the mine. This significantly de-risks the Project. Solid progress has also been made with the engineering studies: 40% of the engineering studies for the tailings storage facility and water retention ponds have been completed. The site wide water balance and surface water management system are underway. Preliminary designs for the layout of the mine site infrastructure including, in some detail, the designs for the location of the processing plant have been completed. Mine and waste dump schedules for a number of mining scenarios have been completed. The power studies have been progressed. It remains our intention to buy the remainder of the land this year and commence site preparation, while significantly advancing the engineering studies and placing a deposit on a processing plant".

The Company has been focused on de-risking the La India Project by advancing and completing several technical and engineering studies, some of which are a condition of the Environmental Permit and purchasing the land for the associate mine site infrastructure.