Condor Resources Inc.: Drill Rig Mobilized at Condor de Oro Project
October 15 2013 - 7:00AM
Marketwired Canada
Condor Resources Inc. - ("Condor" or the "Company") (TSX VENTURE:CN) is pleased
to advise that it has been notified by Mariana Resources Ltd. ("Mariana") a
drill rig has arrived at Condor de Oro, and the initial drill program is set to
commence. Under the terms of the definitive agreement with Mariana, Mariana are
obligated to complete 1500m of drilling at Area 1 of Condor de Oro prior to
January 31, 2014.
In September, Exploraciones Aguila Dorada S.A.C. ("EAD") received approval for
initiation of exploration activities, including up to 20 drill holes, on three
of EAD's twelve concessions at the Condor de Oro project. Condor has an
irrevocable option to acquire 85% of the issued shares of EAD, and in turn,
Condor has granted Mariana an option to acquire 60% of Condor's interest, being
an overall 51% interest. Mariana is assisting EAD with the drill program under
the terms of the option agreement with Condor.
ON BEHALF OF THE BOARD
Lyle Davis, President & Chief Executive Officer
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Condor Resources Inc.
1-866-642-5707
info@condorresources.com
www.condorresources.com
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