Exercise of Options

8th January 2015

Condor Gold plc

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

Exercise of Options and Total Voting Rights

Exercise of Options

Condor (AIM:CNR), a gold exploration company that in December 2014 completed a Pre-Feasibility Study on focused on its wholly owned high grade mineral resource of 2.3M oz gold at 4.0g/t gold at La India Project in Nicaragua, which includes an open pit mineral reserve of 675,000 oz gold at 3.0g/t gold, announces that it has received notice from Dr Luc English, the Company's Chief Geologist, to exercise 75,000 options at a price of 20 pence per ordinary share that were granted in 2009. Following the exercise of these options, Dr English has become a shareholder in the Company and has informed the Company that he intends to hold the shares for the medium term.

Pursuant to the exercise of options the Company has received funds of £15,000 and accordingly it has issued and allotted 75,000 new ordinary shares in the Company, which on admission will rank, pari passu, with all existing ordinary shares. Application has been made for the new ordinary shares to be admitted to trading on AIM and admission is expected to take place on or around 14th January 2015.

Total Voting Rights

Following the exercise of options, the Company's total issued share capital comprise 45,807,316 Ordinary Shares of 20 pence each, with voting rights, none of which are held in treasury. Therefore this figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

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

About Condor Gold plc:

Condor Gold 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 CIM/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 CIM/JORC compliant resource base of 2.33M oz gold equivalent at 3.9 g/t in Nicaragua and an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua, and Ravensgate and Geosure for El Salvador.

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.