Condor Receives US$1millon Payment on Soledad Project

VANCOUVER, BC / ACCESSWIRE / June 23, 2023 / Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) is pleased to advise that it has received the June 23, 2023 payment from Chakana Copper Corp. ("Chakana") pursuant to Chakana's option to acquire a 100% interest in the Company's Soledad concessions in Peru. Under the terms of the agreement with Chakana, payment consisted of US$1.0 million cash, and 1.379 million Chakana shares.

Commented Condor President Lyle Davis: "Chakana's technical execution at Soledad has been excellent, and we believe that Chakana's exploration programs have the potential to add significant value to the project. Condor is a significant and supportive shareholder of Chakana."

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities are managed by the Company's Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,
President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such 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.

SOURCE: Condor Resources Inc.