Quriurqu

Gold | Silver

Location

The Quriurqu Property is located in the Cordillera Negra metallogenic province in the central Peruvian Andes, and is described as a high sulphidation gold-silver epithermal system. Quriurqu is located about 45 km SW of the Pierina gold-silver mine operated by Barrick Gold Corporation.

Ownership

The original 2.5 sq km concession was acquired by staking in 2011. A second concession was acquired in October 2016 when Condor had the winning bid at a sealed bid auction conducted by Peruvian officials, increasing the project area to 8.5 sq km. Both concessions are 100% owned.

In January 2017 the Company reached agreement with Sandstorm Gold Ltd. to sell a package of royalties, which included a 0.5% NSR on the Quriurqu project.

Previous Work:

As best as we can determine, no previous sampling or other exploration has been conducted at Quriurqu, nor has it been drill tested.

Geology & Mineralization

The property is host to a high sulphidation gold-silver epithermal system, as evidenced by alteration assemblages and associated pathfinder minerals hosted in structures and hydrothermal breccias within Tertiary age dacitic ignimbrites. Condor geologists believe that Quriurqu could host a disseminated bulk tonnage gold-silver deposit at depth.

Recent Activity

The Company has conducted initial reconnaissance mapping and collected and analyzed 64 rock chip channel samples. Gold and silver assays range from negligible to 5.9 g/t Au and 143 g/t Ag. A total of 57 of the 64 samples returned anomalous gold values in excess of 50 ppb, including 27 samples greater than 500 ppb and 18 samples in excess of 1 g/t Au. A modest sampling program (6 samples) in 2016 by a third party included 3 samples in the 0.3 g/t Au to 0.9 g/t Au range, and 2 samples greater than 1.7 g/t Au.

Update:

The Company has not completed any work on the project recently, and is seeking a joint venture partner to continue to explore and advance the project.