Condor Gold Regulatory News (CNR)

1 Mar 2007 16:38

Condor Resources PLC01 March 2007 1 March, 2007 Condor Resources Plc (''Condor'' or ''the Company'') Reverse Circulation Drilling commences at El Pescadito, El Salvador Condor Resources Plc (AIM: CNR) is pleased to report that reverse circulationdrilling of the El Pescadito Project in El Salvador has commenced having secureda suitable drilling rig. R & R Drilling of Honduras, through its local subsidiary ("R & R"), has beenawarded the contract to drill test the Company's projects in El Salvador. Aninitial 3,000 metre reverse circulation drilling program has now commenced onthe El Divisadero Prospect within the El Pescadito Project, to initially testthe top 150 metres of approximately 3,000 metres of mineralised strike length asdefined from rock chip and trench sampling completed to date. On R & R successfully completing the initial program of work, they have agreedto roll over the contract for a further program of approximately 12,000 metresof reverse circulation drilling. Ends Enquiries: Condor Resources Plc Mark Child, Chairman +44 20 7408 1067 Nigel Ferguson, CEO +61 8 9240 7227 Nabarro Wells & Co. Limited Hugh Oram +44 20 7710 7400 Anthony Rowland +44 20 7710 7419 Mirabaud Securities Limited Rory Scott +44 20 7878 3360 Parkgreen Communications Limited Clare Irvine +44 20 7851 7480 Qualified Person's Declaration The information in this announcement that relates to Exploration Results isbased on information compiled by and reviewed by Nigel Ferguson, CEO, who is aMember of the Australian Institute of Mining and Metallurgy and a geologist withover 21 years of experience in the exploration and definition of precious andbase metal Mineral Resources and has sufficient experience that is relevant tothe style of mineralization and type of deposit under consideration and to thetype of activity which he is undertaking to qualify as a Qualified Person asdefined in the March 2006 Edition of the AIM Guidance Note for Mining, Oil andGas Companies. He consents to the inclusion in the report of the matters basedon his information in the form and context in which they appear and confirmsthat this information is accurate and not false or misleading. About Condor Resources Plc: Condor Resources Plc was admitted to AIM on 31st May 2006 and raised £4.9mbefore costs. Condor is a mineral exploration company focused on El Salvador andNicaragua. The Company has 100% ownership of four licences and is earning 100%interest in a fifth licence contained in three project areas in El Salvador.Condor also has the option to earn an 80% interest in four licences containedwithin three project areas in Nicaragua. An independent competent person's report prepared by Ravensgate and included inthe Company's Admission Document and a subsequent resource upgrade statementissued 20th December 2006 reported Inferred Mineral Resources, as defined by theJORC standard, of some 467,104oz gold and 18.4Moz silver within two contiguouslicences in El Salvador. The Company's objective is to prove up significant gold and silver resources ofbetween 1 to 2 million ounces of gold and 30 to 50 million ounces of silver toJORC reportable standards by the 31st May 2008. The Company intends to continueto drill test targets within its Project areas. The drilling programme isplanned to be between 20,000m and 40,000m of combined reverse circulation anddiamond drilling. This information is provided by RNS The company news service from the London Stock Exchange