Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information included in or incorporated by reference in this presentation, including information as to our future financial or operating performance and other statements that express management’s expectation or estimates of future performance, constitute “forward -looking statements” . All statements, other than statements of historical fact, are forward looking statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, and similar expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the currency markets; fluctuations in commodity prices; risks arising from holding derivative instruments (such as credit risk, market liquidity risk, and mark to market risk); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries we operate or other countries in which we do or may carry on business in the future; business opportunities that may be presented to, or pursued by, us; our ability to successfully integrate acquisitions; operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in our credit rating; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. You are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to Condor’s prospectus on file with the Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws. 2
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Experienced Management Team Directors Management Robert Boyd, Director Patrick Burns , President & CEO, Director Lyle Davis, Director 30 years experience in Latin America. Directly involved in the discovery of Escondida. Paul Larkin, Director Francisco de Undurraga F, Director Ever Marquez Amado, VP Exploration Exploration geologist with more than a 20 year career in mineral exploration. Previously the Senior Regional Exploration Geologist for the Andes at Newmont Peru. Technical Advisory Board Brian Fagan Graham H. Scott, Corporate Secretary & Director Principal of VECTOR Corporate Finance Lawyers. Patrick Gorman John E. Robins Art Soregaroli John S. Watt, Chief Financial Officer Chartered Accountant with over 37 years of business experience. 4
Company Highlights • Condor is a project generator focused exclusively on precious and base metals exploration in South America, particularly Peru and Chile. • Condor’s long term objective is the discovery of a major new precious and/or base metals deposit. • Excellent portfolio of discovery stage properties • 11 Projects in Peru: Kury Intsa, Sol de Oro, Condor de Oro, Chavin, La Libertad, Soledad, Quriurqu, Ocros, Pucamayo, San Martin. • 5 Projects in Chile: Cristal, Corona, Brahma/Austral, Becker, Royal. • With more than 40 years of combined experience in the region, Condor’s exploration team has a proven track record of discovery. • Committed to a high standard of community & social responsibility. 5
San Martin • A new discovery of a potential high grade bulk tonnage Au-Ag mineralized system within the Orcopampa-Caylloma precious metals belt in southern Peru. No previous sampling or drilling. • A sediment-hosted pervasive silicified hydrothermal breccia in Cretaceous quartzites with silica-barite-sulphides and FeOx. • Discovery Zone measures 700m by 100m at surface, with highly anomalous Au-Ag mineralization including peak highs of 3.1 g/t Au and 3490 g/t Ag over 2m and 1.97 g/t Au and 3240 g/t Ag over 4m. • Phase I, 2500m diamond drill program commenced in November 2011. • To February 18 th , 907m completed in holes one through five. • Second (larger) drill rig, with greater depth capability mobilized in late February. 6
San Martin Geochemistry Rock AG (PPB) 7
San Martin Geochemistry Rock AU (PPB) 8
Drill setup on the San Martin hydrothermal breccia target Silicified and brecciated quartzite with disseminated pyrite and greyish sulfides and barite veins. Assayed 2,73 g/t Au & 824 g/t Ag 9
Hydrothermal breccia with silicifed clasts and an FeOx – barite Hydrothermal quartzite breccia with silica-barite, FeOx and matrix along with disseminated grey sulfides. drusy quartz. Assayed 2,67 g/t Au & 311 g/t Ag Assayed 1,97 g/t Au & 3240 g/t Ag over 4 metres 10
Cordillera del Condor Belt Condor de Oro Current Activities: • Two large surface rock geochemical anomalies identified to date. • A multi-year community agreement has been signed. • Drilling planned for 2012 • Potential for the discovery of a large bulk tonnage precious and base metals deposit. 11
Condor de Oro • 102 sq km in the Cordillera del Condor, (host to the Kinross' Fruta del Norte gold deposit inferred reserves of 13.7M oz Au), one of the most significant remaining underexplored precious and base metals belts in the world. • Condor’s property on the Peruvian side shares key geological features but has little modern day exploration and no prior drilling. • Two large gold and base metal targets defined, with coincident geophysical, gold and multi- element rock, soil and stream sediment anomalies. • Placer gold occurs in creeks within both target areas. • Potential to host a multi-million ounce gold and base metal deposit. "Reported reserves are inferred only, and from the websites and public documents of the Companies whose deposits are mentioned." 12
Pucayacu (Gold – Silver – Copper Mineralized Target) Panoramic view, base camp with helipad located in center of the Au-Ag-Cu mineralized system . 13
Soledad • 100% owned, 7.13 sq km property, located in the central Peruvian Andes about 34 km south of Barrick’s Pierina mine. • Previous work dates back to the 1960's. A 1996 drill program tested one of several breccia pipes on the property. • The best three holes from 1996 reported a 61.5m interval grading 1.9 g/t Au, 145.8 g/t Ag, & 1.82% copper; a 28.5m interval grading 5.0 g/t Au & 1.10% Cu; and a 33.0m interval grading 2.5 g/t Au. • Recent work by Condor has identified five other breccia pipes at Soledad that have not been drilled. • Sample highlights from the new breccia bodies include 3.1 g/t Au and 242 g/t Ag over 2 meters; and 2.1 g/t Au and 242 g/t Ag over 2 meters. • As well as the breccias bodies, eight quartz ‐ tourmaline structures and numerous polymetallic Ag ‐ Cu ‐ Pb ‐ Zn veins have been identified within the alteration system. • An IP survey is planned, followed by a drill program. • Soledad exhibits potential for the discovery of a large intrusive related Au ‐ Ag ‐ Cu system at depth, in addition to high grade mineralization in the breccias. 14
Soledad 15
The B5 breccia pipe showing strong FeOx. 16
Corona • Large epithermal lithocap surrounded by remobilized secondary copper oxides, suggesting an intrusive porphyry copper system at depth. Historic small mining activity • Anomalous geochemistry supports this hypothesis. • IP and Resistivity geophysics also suggest a possible porphyry copper system at depth. • Potential to host economic polymetallic mineralization. Hand cobbed secondary copper ore piles at Corona 17
Corona Project Geophysics Chargeability 18
Chavin • 100% owned property covers an area of 8 sq km located 45km NW of the Pierina gold-silver mine operated by Barrick Gold Corporation and 10km SW of the Pashpap Cu-Mo porphyry project. • Drill permit and community agreement in place. • Drill-ready target with $500,000 worth of work done in the last 18 months including geological mapping, topographical survey and extensive surface sampling. • 8 km of access roads constructed. 19
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