Condor Gold plc

La India exploration update: 142.4 g/t gold rock chip sample identified, 1,123 m of 4,000 m Scout Drilling and 168 km² of Soil Survey Completed - Seite 2

To view Figure 1: Soil Survey Sample Spacing, please visit this link: http://media3.marketwire.com/docs/1080285_FIGURE_1.pdf

Samples collected to date are shown in the Figure 2 below. The blue dots remain to be collected. Assays are awaited for the black dots.

To view Figure 2: Soil Samples Collected to date, please visit this link: http://media3.marketwire.com/docs/1080285_FIGURE_2.pdf

Initial Soil Survey Interpretation

The soil survey is ongoing, so this is an initial interpretation. Several elements, in particular Gold (Au), Tellurium (Te), Thallium (Tl), Arsenic (As), Silver (Ag) and Antimony (Sb), define two significant trends. These are interpreted as two major basement feeder zones: La India and Andrea Corridors (see Figure 3 below). The La India Corridor cuts obliquely across some of the better known veins, such as La India, America, Mestiza and seems to localize higher gold grades at these intersections. This understanding will help future drill targeting. There is also a suggestion that some rich veins (Tatascame, Los Limones) are en echelon structures, at high angle to the Andrea Corridor. They may have provided localized dilations for fluids to rise. Drilling to test this model at Tatascame is due to commence shortly.

To view Figure 3 Two Major Basement Feeder Zones, please visit this link: http://media3.marketwire.com/docs/1080285_FIGURE_3.pdf

Antimony, along with Selenium (Se) and Te, also seem to define a sinuous, almost East-West, linking structure between the two corridors ('The Link' above). This has lower gold values, for example in the East part of the Guapinol and Constancia Veins. It may not have been as important an upflow zone as La India and Andrea corridors.

Several elements show a distinct drop off on the East side of the Highway Fault (see Figure 4), implying that the district-scale epithermal system was dropped down by a post-mineral offset. This down-throw preserves the top of the system at Cacao, which includes sinter and phreatic breccias, indicating paleosurface.

142.4 g/t Gold and 53.9 g/t Gold Rock Chip Samples

During January-November 2016 a total of 169 rock chip samples were collected during soil sampling and mapping. Of these, 5 came back with gold values greater than 5 g/t, 4 from the Los Limones prospect, including 53.9 g/t and 142.4 g/t samples (See Figure 4 below) and 1 sample slightly north of Tatascame. In addition, 19 samples from the Dos Hermanos, Mestiza, Tatascame- El Derrumbado and Los Limones prospects have returned with values of 1-5 g/t.