Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING - - PowerPoint PPT Presentation

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

• f, 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

• r otherwise, except to the extent required by applicable laws.

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Condor Resources Inc.

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Management

Patrick Burns, President & CEO, Director

30 years experience in Latin America. Directly involved in the discovery of Escondida.

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.

Graham H. Scott, Corporate Secretary & Director

Principal of VECTOR Corporate Finance Lawyers.

John S. Watt, Chief Financial Officer

Chartered Accountant with over 37 years of business experience.

Directors

Robert Boyd, Director Lyle Davis, Director Paul Larkin, Director Francisco de Undurraga F, Director

Technical Advisory Board

Brian Fagan Patrick Gorman John E. Robins Art Soregaroli

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Experienced Management Team

• 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.

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Company Highlights

• 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 18th, 907m completed in holes one through five.
• Second (larger) drill rig, with greater depth capability mobilized in late February.

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San Martin

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San Martin Geochemistry Rock AG (PPB)

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San Martin Geochemistry Rock AU (PPB)

9 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

10 Hydrothermal breccia with silicifed clasts and an FeOx – barite matrix along with disseminated grey sulfides. Assayed 2,67 g/t Au & 311 g/t Ag Hydrothermal quartzite breccia with silica-barite, FeOx and drusy quartz. Assayed 1,97 g/t Au & 3240 g/t Ag over 4 metres

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.

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Cordillera del Condor Belt 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."

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Condor de Oro

Pucayacu (Gold – Silver – Copper Mineralized Target)

Panoramic view, base camp with helipad located in center of the Au-Ag-Cu mineralized system. 13

• 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.

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Soledad

Soledad

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The B5 breccia pipe showing strong FeOx.

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17 Historic small mining activity Hand cobbed secondary copper ore piles at Corona

Corona

• Large epithermal lithocap surrounded by

remobilized secondary copper oxides, suggesting an intrusive porphyry copper system at depth.

• Anomalous geochemistry supports this

hypothesis.

• IP and Resistivity geophysics also suggest

a possible porphyry copper system at depth.

• Potential to host economic polymetallic

mineralization.

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Corona Project Geophysics Chargeability

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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

• f

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.

Main vein, 1.5m wide, 120/50SW with massive sulphides comprising sphalerite-galena-chalcopyrite-pyrite-pyrrhotite with banded quartz-carbonate halos. Assayed up to 13.9 g/t Au, 1645 g/t Ag, 25.7% Pb and 10.8% Zn.

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January 31, 2012

Shares Outstanding: 62,913,241 Fully Diluted: 70,308,241 Working Capital (January 31, 2012): $2,625,000 Options (Weighted average $0.44): 5,895,000 Warrants ($0.40): 1,500,000

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Share Structure

• Condor is committed to working with the local communities to complete its exploration

programs and develop sustainable projects for the future.

• Discussions and presentations involving the local communities are standard Company

policy.

Meeting with local authorities 22

Community Relations

Meeting with company personnel

San Martin:

• 2500m drill program commenced November 2011; 907m completed in holes one through five.
• Second (larger) drill rig mobilized to San Martin in late February.

Soledad:

• An IP survey is planned, followed by a drill program.

Condor de Oro:

• 2500m drill program planned to test the large 4 sq km Pucayacu & Yuracyacu precious and

base metals target. Joint Ventures:

• Additional drilling is planned in first half of 2012 at Becker Au project in Chile by JV partner

Pinestar Gold Inc.

• Investigate potential non-traditional project financing possibilities via the Corfo 'Fenix-Fund' to

promote exploration activities in Chile.

• Condor is actively seeking joint venture partners on several of its other projects.

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Moving Forward

Head Office Condor Resources Inc. Suite 120, 601 West Cordova Street Vancouver, BC Canada, V6B 1G1 Phone: 604-642-5707 Fax: 604-647-0107 Toll Free: 1 866-642-5707 info@condorresources.com www.condorresources.com Investor Relations/Corporate Communications Timea Carlsen Manager, Corporate Communications Phone: 778-998-2473 (BIRD)

Contact Information