Condor Gold plc

Exploration Update on the La India Project

LONDON, UNITED KINGDOM--(Marketwired - July 1, 2016) - Condor (AIM:CNR), is pleased to provide an update on regional exploration activity at the La India Project, Nicaragua. Amongst the activities undertaken by Condor during the first half of 2016 are:

Highlights

• Follow up field work on 33 exploration targets identified in a structural geology study and 13 exploration targets identified by the on-going soil survey as at the end of 2015
• Initial success highlights a 12.5 km mineralised corridor 9 km north of the main La India open pit resource with high grade rock chip of 53.9 g/t gold
• Soil survey expanded to cover the remaining 242 km² of La India Project to delineate further prospects and demonstrate the district scale gold potential
• Dr Warren Pratt has joined Condor as a senior geological consultant and will focus on the exploration upside. He is producing a detailed geological, stratigraphic and structural map of La India Project.

Mark Child CEO comments:

"Following on from the successful structural geology study last year, which identified 33 new exploration targets, and a 71 km² soil survey that identified an additional 13 new exploration targets, Condor recently initiated a further 242 km² soil survey programme at La India Project aimed at identifying additional prospects and demonstrating the district-scale gold potential of La India Project. Recent work by Condor geologists has identified a 12.5 km long mineralised corridor 9 km to the north of La India open pit. A high grade rock chip of 53.9 g/t gold at the northern end of the Andrea-Limones mineralised corridor, some 6 km away from the nearest gold mineral resource, is highly encouraging. Follow up trenching is being planned in the area.

I am delighted that Dr Warren Pratt has joined Condor as a senior geological consultant. He will advise the Board on the exploration upside of La India Project. Earlier this month he spent two weeks at Mina La India and will lead the production of a detailed geological, stratigraphic and structural map across the entire District. Dr Pratt contributed to the due diligence ahead of the recent investment in the Company by Ross Beaty and strengthens the geological team."