Vancouver, B.C., October 29, 2007 – Condor Resources Inc. – (“Condor” or the “Company”) (TSX.V: CN) is pleased to announce that it has received assay results from its recently completed follow-up stream sediment, soil and rock sampling program (See October 3 News Release) from its Ocros porphyry copper project located 180 km north of Lima, Peru.
The Ocros property covers a classic structurally-controlled porphyry copper system measuring 3.5 km N-S, by 2.5 km E-W, emplaced within Tertiary andesites intruded by two younger mineralized bodies – a hornblende-feldspar porphyry and a quartz-feldspar porphyry. Both intrusives exhibit widespread quartz-vein stockworks, intense quartz-sericite alteration and are extensively copper-mineralized. In addition, the intrusives are accompanied by anomalous Au-Ag-Pb-Zn values over a surface area covering 2000 m by 1000 m and a vertical extent of at least 700 m.
A total of 376 rock samples have been collected on the Ocros property, along with 86 soil samples from covered areas void of outcrop and 5 stream sediment samples. Of the 376 rock samples, 308 (82%) returned values in excess of 100 ppm Cu, considered anomalous. Included within this total are 159 samples (42%) ranging from 100 ppm to 499 ppm Cu, 56 samples (15%) ranging from 500 ppm to 999 ppm Cu, 72 samples (19%) returned grades ranging from 0.1 to 0.99% Cu, and 21 samples assayed from 1% to 7.29%Cu. A total of six of the highest copper grades were obtained from the basal copper veins peripheral to the main 2 sq km copper-rich porphyry target.
The results of the recent sampling program thus confirm the presence of the porphyry copper target on the Ocros property.
The previously announced (See October 3 News Release) Phase I drill program will comprise eight strategically-located diamond drill holes totaling approximately 3000 m to test the continuity of the highly anomalous surface copper mineralization at depth.
A secondary dirt road passes over the centre of the Ocros drill target, and as a result, very little road-building is required. Condor’s field crew and a bulldozer are currently being mobilized onto the Ocros property, with drilling scheduled to commence by November 10, 2007. Condor’s Qualified Person, Dr. Richard Culbert, PhD, P.Eng., is currently en route to the project and will be present for the start-up of drilling and overseeing standard procedures for quality assurance and quality control over the sampling program. All permitting has been completed, and the nearby community has given Condor its full support.
Condor management believes that the Ocros property exhibits significant potential to host an “elephant-sized” copper and precious metals deposit.
Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of copper and gold projects in South America, where management has extensive experience and a proven track record of discovery. The Company’s long-term business plan offers shareholders access to a growing portfolio of properties, comprising six 100% owned projects in Chile, two projects in Argentina and three in Peru, each providing a unique path to discovery.
Patrick J. Burns,
President & Chief Executive Officer
For further information please contact:
Bernie Kennedy: 1-877-489-4440
Saf Dhillon: 604-484-2015
email: info@condorresources.com
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement. 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.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
