Drilling Commenced At The La India Open Pit

SURREY, UK - Condor Gold announced that in line with its intent to develop La India Mine into a production unit it has commenced a 1,700 meter infill geotechnical drilling program within the permitted La India Open Pit. Two diamond drill rigs have been deployed to expedite progress. The program is anticipated to take 5-6 weeks to complete. The geotechnical drilling program has been designed to achieve a Feasibility Level of design by SRK Consulting (UK) Limited and will complement other ongoing Feasibility Study level work programs already underway.

Mark Child, Chairman and CEO, said, "The aim of the 1,700m geotechnical drill program to a Feasibility Study level of design is firstly to collect high quality data that will allow for the refinement of pit wall design slopes to be used in the final pit designs, potentially positively impacting on the waste stripping ratios and secondly, if successful, positively expand the reserves within La India open pit, particularly if the pit pushes deeper, due to a combination of a change in pit angels and/or a higher gold price is used in future studies.

The Feasibility Level of designs of the geotechnical study builds on the 2014 Pre-feasibility Study ("PFS") on La India open pit, which hosts a Probable Mineral Reserve of 6.9Mt at 3.1 g/t for 675,000 oz gold. The PFS was conducted at a US$1,250 gold price. Beneath La India open pit there is an underground Mineral Resource of 678kt at 4.9g/t gold for 107k oz gold in the Indicated Category and 1,116kt at 5.6g/t gold for 209k oz gold in the Inferred Category".