November, 2012
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 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 Patrick Burns, Director Ever Marquez Amado, VP Exploration Graham Scott, Director Graham Scott, Director 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 Graham H. Scott, Corporate Secretary & Director Principal of VECTOR Corporate Finance Lawyers. Brian Fagan Patrick Gorman 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 • 10 Projects in Peru: • 10 Projects in Peru: Soledad, Condor de Oro, Pucamayo, Chavin, Quriurqu, San Soledad, Condor de Oro, Pucamayo, Chavin, Quriurqu, San Martin, Sol de Oro, Kury Intsa, La Libertad, & Ocros. • 5 Projects in Chile: Cristal, Brahma/Austral, Royal, Corona, & Becker. • Joint Ventures recently signed with BHP Billiton in Chile, and Mariana Resources in Peru. • 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
Soledad - Au/Ag/Cu prospect with historic drill results • 100% owned, 7.13 sq km property, located in the central Peruvian Andes about 34 km south of Barrick’s Pierina mine in Peru. • Previous work dates back to the 1960's. A 1996 drill program tested one of three breccia pipes identified at the time. • The best 3 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. • Condor geologists have now identified a total of nine breccia pipes at Soledad. • Condor geologists have now identified a total of nine breccia pipes at Soledad. • Sampling 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. • A 25.4 line km IP survey completed in June 2012 readily identified the breccias, but also indicated a large broad anomaly at depth, suggesting a possible intrusive related bulk tonnage Au-Ag-Cu system. • Permitting is underway to conduct approximately 2500m of drilling on the Soledad project. 6
Soledad 7
The B5 breccia pipe at Soledad showing strong FeOx. 8
Cristal Copper Project – Option Agreement with BHP Billiton • BHP Billiton earn-in agreement signed October 5 2012 on Condor’s 46 sq km Cristal project in northern Chile. • Mandatory US$500,000 work program during the first year of the option. • We anticipate that BHP Billiton will be conducting airborne geophysical surveys at Cristal in 2012. • BHP Billiton have an exclusive option to earn 65% by completing exploration expenditures of US$18 million over 4 years. By completing an additional US$7 million of exploration expenditures, BHP Billiton can increase their interest to 75%. • Based on a review of the public mineral concession records in Chile, BHP Billiton has interests in the mineral concessions to the west, north, and east of Cristal, and Anglo American have interest in the concessions to the south. • Our sources have informed us that RTZ drilled approximately 80m of > 1% Cu near the southern boundary of the Cristal concessions in the mid 1990s.
Cristal - Satellite View
Cordillera del Condor Belt Condor de Oro Highly Prospective Location! • 102 sq km in the Cordillera del Condor • 102 sq km in the Cordillera del Condor • 125 km south west of Kinross’s Fruta del Norte project • 55 km east of Zijin Mining Group’s Rio Blanco project • Potential for the discovery of a large bulk tonnage precious and base metals deposit. 11
Condor de Oro – joint venture with Mariana Resources Ltd. • Letter of Intent signed October 2012 with Mariana whereby Mariana can earn 51% net interest in part or all of the project under 2 separate options. • Area 1 option covers 34 sq km block on the southern part of the concessions, and includes the Pucayacu target. Mariana can earn the 51% interest over 4 years with cash payments of US$2.5 million, and US$12.5 million in work programs. • The LOI stipulates 1500m of diamond drilling on Area 1 during the first year of the option. • Area 2 option covers the remaining 68 sq km at Condor de Oro, and includes the Yuracyacu target. Mariana have an exclusivity period until Dec 31 2012 on Area 2. • If Mariana proceeds with the option on Area 2, they can earn a 51% interest over 4 years with cash payments of $US2.5 million, and US$12.5 million in work programs. • Ray Angus, COO of Mariana said “This is an opportunity for Mariana to drill untested potential company-maker gold and base metal targets in this highly prospective belt...” 12
Pucayacu Target at Condor de Oro (Gold – Silver – Copper) Panoramic view showing base camp with helicopter pad located in center of the Panoramic view showing base camp with helicopter pad located in center of the Au Au- -Ag Ag- -Cu mineralized system Cu mineralized system . 13
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