Vancouver, B.C., March 6, 2012 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN) is pleased to announce that it has received permission from surface landowners to access its wholly-owned Soledad project in northern Peru and has contracted Val D’Or Geophysics of Peru (VDG Del Peru S.A.C.) to conduct a 20 line-kilometer ground magnetic and IP geophysical survey on the property commencing on March 9, 2012.
The Soledad property covers a large hydrothermal alteration system associated with a quartz-sericite-clay-limonite gossan measuring approximately 1500m in diameter. In addition to the six breccia bodies identified to date, at least eight quartz-tourmaline structures up to 500m long and 10m wide, and numerous polymetallic Ag-Cu-Pb-Zn veins have been identified that are associated with the alteration system.
Condor geologists interpret the near-surface alteration system at Soledad to be related to a gold and silver enriched intrusive-related copper system at depth.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals projects in South America, where management has extensive experience and a proven track record of discovery. The Company’s long term objective is the discovery of a major new precious/base metals deposit and its business plan offers shareholders access to an exciting portfolio of fifteen properties in Peru and Chile, each offering a unique path to discovery.
ON BEHALF OF THE BOARD
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact Timea Carlsen at 1-778-998-2473, or by email at: tcarlsen@condorresources.com
Dr. Richard Culbert, P. Eng., is the Qualified Person for the Company as required by NI 43-101 and has reviewed the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
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.
