Drill Program Completed At San Martin

VANCOUVER, BC - Condor Resources Inc. reported that the Phase I drill program has been completed at its San Martin project in southern Peru. A total of 10 diamond holes totaling 2,001m were completed. Results include near surface intervals of 7.9m grading 71.97 g/t Ag in SMA-006, 12.6m grading 48.57 g/t Ag in SMA-007, and 9.30m grading 64.66 g/t Ag in SMA-008. Encouraging results from the first 3 holes were reported previously, and included a near surface intercept of 14.9m grading 68.73 g/t Ag. Results for the last two drill holes are still pending, and will be reported when received.

Drilling confirmed the presence of a large silicified alteration system which has been extended to approximately 800m long by 150m wide at surface and to a vertical depth of 400m, comprising hydrothermal breccias. The silicified alteration system remains open in all directions and at depth. Within the silicified breccias silver values range up to highs of 1,595 g/t Ag over 0.20m. Partially due to drilling limitations, eight of the ten holes reached only shallow down-hole depths ranging from 136m to 182m; however, four of these drillholes intersected a near surface, sub-horizontal zone of mineralized hydrothermal breccias varying from 7.9m to 14.9m in thickness, with silver grades ranging from 63.89 g/t Ag to 71.97 g/t Ag.

A second phase of drilling is in the planning stage. Goals of additional drilling will be to further define the extent of the silver mineralization and anomalous gold values in this large system, to test for possible extensions under gravel cover to the south, and to test for high grade lenses and feeders at depth.