Condor Gold Regulatory News (CNR)

18th October 2011

Condor Resources Plc

(''Condor'' or "the Company")

Drill Results for La India Project, Nicaragua.

Highlights:

·; Best drill intercept received to date in the hanging wall zone of the main La India Vein - 23.09m at 2.67g/t Au, including 1.53m at 7.10g/t Au, and 4.97m at 7.26g/t.

·; La India Vein extended to depth with 4.57m at 4.15g/t gold located 75m below historic mine workings.

·; High grade intercept of 4.86m at 4.76g/t gold within area of historic mine workings on the main La India Vein demonstrates potential to re-work the historic mine.

·; Multiple veins discovered on Arizona Vein within the La India Vein Set extending area of hanging wall mineralisation.

Condor (AIM: CNR), an exploration company focused on proving a large commercial reserve at its La India Project in Nicaragua is pleased to announce further high grade drilling intercepts in both the hanging wall zone of the La India Vein, and also in the La India Vein itself, both down dip and between the historically mined levels. Condor has now completed over 10,300m of a 20,000m drilling programme on the La India Project, and received assay results for the first 8,375m, representing 55 drill holes. The assay results received to date cover six additional holes, for 1178m of drilling since the last update announced on the 5th September 2011. The additional results include drilling on the La India Vein and hanging wall zone, as well as from further sampling of two drillholes on the Arizona Vein, also within La India Vein Set.

Drilling results exceeding 1g/t gold that have been received since the last update on the 5th September are summarised in the following table and are discussed below.

True width is an interpretation based on the current interpretation of the veins and may be revised in the future.

* LIDC064 176.6-176.78m was previously reported as the Arizona Vein, but is now interpreted to be in the hanging wall of the Arizona Vein.

La India Vein

Four significant gold intercepts have been returned from the main La India Vein. Two of the intercepts are down-dip extensions to mineralisation in the southern part of the India Vein, with similar overall gold content, but varying width and grade: 3.15m (2.85m true width) at 8.40g/t gold and 4.57m (4.14m true width) at 4.15g/t gold. The other two intercepts are within the historically mined area and confirm that exploitation was incomplete when mining activity stopped in 1956, and significant amounts of gold mineralisation remain between the mined levels. The best intercept of 4.86m (4.04m true width) at 4.76g/t gold from 129.15m drill depth in drill hole LIDC067 is only 8m across-strike of an even more significant intercept returned from the same drill hole in the hanging wall zone (see below).

India Vein Hanging Wall Veins (California Vein)

A wide drilling intercept of 23.09m (20.93m true width) at 2.67g/t gold from 96.01m drill depth, only 8m across strike of the main La India Vein, in drill hole LIDC067, represents the widest high-grade drilling intercept received to date. This wide zone includes two high grade veins of 1.53m (1.39m true width) at 7.10g/t Au from 96.01m, and 4.97m (4.50m true width) at 7.26g/t Au from 106.2m, separated by a quartz stockwork zones which returned assays of between 0.2g/t and 1.7g/t gold. The intercept is located approximately 350m along strike to the north of an intercept of 3.4m at 3.24g/t gold from 175.5m drill depth, also in the hanging wall zone, that has been assigned to the California Vein in drill hole LIDC057 (announced 5th September 2011). Further evidence of the multiple hanging wall zone gold mineralisation is apparent approximately 500m along strike to the north where previous explorers identified seven separate gold veins over a 260m horizontal cross-strike interval in the hanging wall zone of the main La India Vein in the Zopilote cross-cut adit. Condor recently re-opened the Zopilote Adit (announced 6th September 2011), which has now been channel sampled with the samples submitted for analysis but assay results pending. Drilling and the Zopilote underground sampling has identified gold mineralisation in the hanging wall zone of the La India Vein over at least a 1000m strike length. With the addition of further pending assay results and planned drilling it is anticipated that a large part of this mineralisation can be incorporated into an updated JORC Mineral Resource estimation expected before the end of the year.

La India Vein Set - TACA Veins

Further encouraging assay results from the East-West trending Teresa-Agua Caliente-Arizona Veins (the "TACA Veins") which intersect the northern end of the La India Vein reveal gold mineralised veining in the hanging wall of the Arizona Vein. Two narrow high grade veins have been identified in two wide-spaced drillholes, both drillholes are located within 500m of the main La India Vein on the hanging wall side, and may indicate that the multiple mineralised veins identified in the Hanging Wall Zone may extend to parts of the cross-cutting TACA Vein Set.

Current Drilling

Four drilling rigs are currently focussed on testing the La India Vein at a nominal 75m vertically below the historic workings, and also further testing the hanging wall zone in order to collect enough data to include the hanging wall in the next Mineral Resource update towards the end of the year.

Mark Child, Chairman of Condor Resources, commented:

"The latest drill results on La India Vein confirm three important theories put forward by Condor's geologists. Firstly, two drill holes placed beneath the historic mine workings confirm that mineralisation extends and is open to depth with good grades of 3.15m at 8.40g/t and 4.57m at 4.15g/t, which should extend the JORC Mineral Resource to depth. Secondly, two drill holes placed within the historic mine show good grades including 4.86m at 4.76g/t and add credibility to the view that the historic mine can be re-worked as significant gold mineralisation remains. Thirdly, the California Vein, which runs parallel to and is in the hanging wall zone of La India Vein, is 1,000m in length. We anticipate a maiden resource for all or part of the California Vein by year end. LIDC 067 is worthy of comment as it gives an idea of the proximity of the hanging wall zone to La India Vein: the 23.09m intercept at 2.67g/t in the hanging wall zone includes two high grade veins of 1.39m at 7.1g/t and 4.5m at 7.26g/t separated by a lower grade quartz breccia, yet 18m further down the drill hole the intercept of 4.4m at 4.76g/t is the main La India Vein. The four drill rigs currently drilling on La India Vein are testing a nominal depth of 75m below the historic mine workings and testing mineralisation within the hanging wall zone".

Competent Person's Declaration

The information in this announcement that relates to Exploration Results and database is based on information compiled by and reviewed by Dr Luc English, the Country Exploration Manager, who is a Chartered Geologist and Fellow of the Geological Society of London, and a geologist with sixteen years of experience in the exploration and definition of precious and base metal Mineral Resources. Luc English is a full-time employee of Condor Resources plc and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Luc English consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.

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For further information please visit www.condorresourcesplc.com or contact:

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America. The Company was admitted to AIM on 31st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador. Condor has seven 100% owned concessions in La India Mining District (La India Project); three 100% owned concessions in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua. In El Salvador, Condor has 90% ownership of four licences in two project areas.

Condor's concession holdings in Nicaragua currently contain an attributable JORC compliant resource base of 1,046,000 ounces of gold at 6.0g/t in Nicaragua and an attributable 1,008,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The Resource calculations are compiled by independent geologists Ravensgate and SRK.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

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