Condor Receives Declaración de Impacto Ambiental, or "DIA" for Huiñac Punta

VANCOUVER, July 15, 2020 - Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to announce that it has received written confirmation of their Declaración de Impacto Ambiental, or a "DIA", from the Peruvian Ministry of Energy and Mines, for its Huiñac Punta high-grade silver polymetallic project. The DIA is the primary environmental permit required to allow drilling programs to proceed.

The 100% owned Huiñac Punta high-grade silver polymetallic project covers an area of twenty sq kms and is located approximately 260 km north-northeast of Lima in the Department of Huanuco, Peru. Elevations at Huiñac Punta range from 3800m to 4400m. The Huiñac Punta project is within the eastern flank of the Mesozoic-aged carbonate-hosted polymetallic mineral belt in north-central Peru about 65 km south-east of the Antamina mine, and about 90 km east of the Company's Soledad project.

Huiñac Punta is interpreted to host potential for discovery of a large, high-grade carbonate replacement style silver-dominant polymetallic mineralization. Based on existing surface exposures, mineralization, which includes high-grade Ag and elevated Cu, Zn and Pb values, is interpreted to have both blanket-like and pipe-like characteristics. Condor is continuing to work on community consultation to secure access and water use permits that will allow for a diamond drill program to proceed on this compelling, never before drilled target. To better define the drill targets, the Company will soon complete geophysical surveys including induced polarization and ground based magnetic surveys.

Condor has previously conducted two sampling and mapping programs at Huiñac Punta with 171 samples collected and analyzed. Both sampling programs recorded impressive silver values, including four samples (2m rock chip samples) that tested over 1000 g/t Ag.

Ever Marquez, Condor's VP Exploration noted: "In our lower limestone sequence, mineralization has replaced certain limestone beds in contact with a granitic intrusion to form stratabound zones of pervasive silicification associated with high percentages of disseminated dark sulphides and oxides. In our upper limestone sequence, we have observed brecciation and decalcification associated with sporadic silicification, sulphides and oxides. I consider Huiñac Punta the next emerging discovery in the prolific Mesozoic polymetallic carbonate hosted mineral belt of Central Peru. Huiñac Punta displays excellent potential for discovery of significant bulk tonnage high-grade silver polymetallic mineralization."

Dr. Quinton Hennigh, director of Condor stated: "Ever Marquez has an exceptional ability to identify high potential opportunities such as Huiñac Punta. At Huiñac Punta, he has clearly identified one of the most prospective new, previously undrilled targets in the prolific Mesozoic polymetallic carbonate hosted mineral belt of Central Peru. We are delighted to see this project quickly advance toward drill readiness. As stated in a recent Company news release, Condor is focussing its efforts on advancing four of its highest quality exploration assets during this emerging precious metal bull market. We have an exceptional opportunity to unlock considerable value as these projects become queued up for drilling. Huiñac Punta will soon be ready for its maiden test."

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's 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

Dr. Quinton Hennigh, P.Geo, is the Qualified Person under NI 43-101 who has approved the scientific and technical content of this news release.

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.

SOURCE: Condor Resources Inc.