FEBRUARY 2016

Condor - Company Highlights

• Condor is a project generator focused exclusively on precious and base metals

exploration in Peru.

• Condor’s objective is the discovery of a major new precious and/or base metals deposit.

• Excellent portfolio of discovery stage properties.

• MOU signed with Compañia Minera Casapalca S.A. on Soledad and Ocros projects.

• Casapalca has the option to earn up to a 70% interest in both these projects.

• Permits are in place at Soledad, and Casapalca is expected to commence drilling during
the first quarter of 2016.

• Production royalty agreements are in place on the Lucero and Chavin projects, with
combined annual minimum payments to Condor of US$100,000.

• Recently formed project generation MOU with a private Peruvian company to fund new
project acquisitions.

• Committed to a high standard of community & social responsibility. 2

Experienced and Lean Management Team

Management Directors
Graham Scott, Director
Lyle Davis, President/CEO
Lyle Davis, Director
P. Eng, MBA, over 25 years in financial markets and
public company management. Paul Larkin, Director
Robert Boyd, Director
Ever Marquez Amado, VP Exploration Francisco de Undurraga, Director
Exploration geologist with more than a 20 years in
mineral exploration. Previously the Senior Regional
Exploration Geologist for the Andes at Newmont Peru.
Technical Advisory Board
Graham H. Scott, Corporate Secretary & Director John S. Watt
Principal of VECTOR Corporate Finance Lawyers.
David Moore, P. Geo.
Veljko Brcic
Jonathan Younie, Chief Financial Officer
Over 15 years accounting and finance experience with
public and private companies.

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 ECUADOR

ACIFIC BR
BRA
CEAN
ACIFIC
CEAN BOLIVIA
BRASIL
BRASIL
BOLIVIA

ojects
jects

0 0 PACIFIC
250 250
OCEAN
PACIFIC
m Kilometers
Kilometers
OCEAN CHILECHILE
CHILECHILE
BOLIV

LEGEND
LEGEND
Condor projects
Condor projects
Fault
Fault
Trench
Trench
0 0 250 250
Ridge
Ridge
Transform
Transform Kilometers
Kilometers
CHILECHILE
CHILECHILE
 Soledad - Gold/Silver/Copper prospect with very encouraging results
from first stage drill program

• Compañia Minera Casapalca S.A. can earn a 70% interest over 4 years with US$725,000 in
cash payments and 15,500m of diamond drilling, or work equivalent.

• Casapalca are expected to commence Phase II drilling in the first quarter of 2016.

• Prior to the earn-in agreement with Casapalca, a 12 hole, 2084m program was completed in
2014, with notable results including 174m of 4.4 g/t AuEq in SDH-009, and 161m of 2.1 g/t
AuEq in SDH-012.

• The Phase I drill program supports the concept that the cluster of exposed breccias is underlain
by a mineralized porphyry system.

• After the Phase I drill program in 2014, a deep sensing geophysics survey was completed in
late 2014, and in March 2015, further infill geophysics were completed.

• Soledad is a 100% owned, 7.13 sq km property, located in the central Peruvian Andes about 34
km south of Barrick’s Pierina mine.
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Soledad – SDH-009 Drill Core

Ever Marquez, Condor’s V.P. of

Exploration, with core from 165m
depth in hole 9 at the Soledad gold-
copper-silver project, circa June 2014.

Grade from 165m to 166m was 2.5%

copper, 378 g/t silver, and 1.0 g/t gold.

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HOLE No UTME UTMN ALT AZ DIP DEPTH
SDH-001 218485 8920040 4350 45 -45 96
SDH-002 218413 8921145 4550 40 -50 88,5
SDH-003 218607 8921116 4550 165 -60 273
SDH-004 218020 8920075 4280 180 -50 124,5
SDH-005 217707 8920837 4420 170 -60 85,5
SDH-006 218084 8919980 4260 360 -50 102
SDH-007 217707 8920328 4225 205 -65 142,5 5m @ 3.9 g/t Au & 13 g/t Ag
SDH-008 218244 8920182 4378 360 -60 117
SDH-009 218485 8920040 4350 45 -80 321
SDH-010 217690 8920249 4180 15 -60 55,5 Image
SDH-011 218035 8920205 4340 10 -75 241,5 SDH-009
SDH-012 217707 8920328 4225 205 -85 437,35

76m @ 0.5 g/t Au; 33 g/t Ag

96m @ 0.2% Cu, 0.9 g/t Au & 15 g/t Ag

6m @ 19 g/t Ag

161m @ 0.4% Cu, 1.3 g/t Au & 13 g/t Ag

174m @ 1.2% Cu, 0.7 g/t Au, 114 g/t Ag

LEGEND
5m @ 19 g/t Ag

Drilled Holes

Traces

Condor Resources Inc.

33m @ 1.0% Cu, 3.4 g/t Au & 23 g/t Ag
4m @ 0.10 g/t Au; 11.2 g/t Ag;0.19%Cu
SOLEDAD
SOLEDAD PROJECT
PROJECT
2014 DRILL HOLE MAP &
250
SIGNIFICANT RESULTS
0 500
meter
www.condorresources.com s TSXV : CN
Projection: UTM Zone 18. Southern Hemisphere (WGS 84)
 Ocros: Copper-Gold-Silver Porphyry project, with abandoned
underground workings

• Casapalca can earn up to a 70% interest over 4 years by making cash payments of
US$550,000 and completing 10,000m of diamond drilling, or work equivalent.

• Casapalca and the Company are currently preparing the drill permit application.

• The historic Eldorado mine, circa 1950s, is located on the Ocros Property, Ancash.

• A total of 62 horizontal adit wall channel samples with an average weight of 2.2kg were
collected over the entire length (326m) of the recently re-opened 200 Level Adit.

• The sample results yielded 0.68% copper over 326m, including a 141m interval of 1.1%
copper on the western end of the adit.

• The adit entrance is over 1 km east & and about 300m lower than the nearest of seven drill
holes completed by Condor in 2007/2008.

• The closest 2008 drill hole ended at a depth of 400m, and reported 251m of 0.15% Cu from
150m to 400m, which included 54m of 0.41% Cu at the bottom of the hole – the closest
drillhole interval to the 200 Level Adit. 8
Ocros: Copper-Gold-Silver Porphyry project

Abandoned Structures of historic Eldorado Mine at Ocros

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 Lucero: High Grade Gold-Silver, ore source for the Shila Mine

• A production royalty agreement at Lucero was concluded in late 2015 with a private
Peruvian company, with a 3% NSR payable to the Company, subject to a minimum annual
royalty of US$75,000.

• 21 sq km of concessions, acquired by staking, and 100% owned by Condor.

• Located in southern Peru, approximately 22 kilometres south of Buenaventura’s

Orcopampa mine.

• Lucero covers what is known as the Shila Mining Camp, which includes several precious
metal vein mines, including the Sando Acalde, Pillune and Apacheta-shila. Buenaventura
were extracting ore from 1990 until 2006, and processing it at a small plant east of the
concessions.

• Public production numbers for Shila from 1998 until 2005, show the 7 year average mined
grade was 14.1 g/t Au, and 373 g/t Ag. Annual production averaged 18,819 oz gold, and
435,953 oz silver.

• We believe that potential remains for the discovery of additional high grade ore shoots in
the 3 former producing mines, and in the numerous other veins and structures located on
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the property.
Pucamayo East: Gold-Silver project, Central Peru

• Declaración de Impacto Ambiental (aka, a “DIA”) granted for Pucamayo East in March 2015.
• DIA allows Condor or its assignee to complete up to 20 drill holes at Pucamayo East.
• Strategic 3 sq km concession (Anta Rumi 101) acquired by staking in early 2015.
• Epithermal disseminated precious metals mineralization at Pucamayo East occurs in vuggy
silica and hydrothermal breccias out-cropping in a partially exposed erosion window below an
advanced and granular silica cap.
• Condor geologists recently identified a breccia-porphyry target, which is coincident with a
600m diameter high chargeability anomaly.

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LS,
LS ,IS – VEINTARGET
IS VEIN TARGET HS EPITHERMAL &
Quartz – carbonate veins with
Ag-Au-Cu-Pb-Zn mineralization.
Au-Ag-Cu-Pb-Zn mineralization. PORPHYRY TARGET

DANIELA TINCO

Epithermal
Breccias/Vuggy Silica
Ledges

Breccia – Porphyry
Target

New concession: Anta Rumi 104

Acquired 2015

Condor ResourcesInc.
Condor Resources Inc.
PUCAMAYO
PUCAMAYO
PUCAMAYO EAST
EAST
EAST ZONE
ZONE
Geophysics
Rock Channel (saw) g / t 0 500 1000 IP -FIGURE 2:
Chargeability
Rock Channel g/t KNOWN TARGETS
50 meters Depth
meters

www.condorresources.com TSXV : CN
Projection: UTM Zone 18. Southern Hemisphere (WGS 84)
 Share Structure
January 31, 2016

Shares Outstanding: 85,863,241

Options: 6,670,000

Warrants: 16,650,000

Fully Diluted: 109,183,241

Working Capital (November 30, 2015): $0.04 million

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 Moving Forward
Capital Preservation:
• We operate in a very cyclical industry, and are in the midst of a prolonged trough.
• Preserve capital, and be poised to move when markets turn.
• Advance projects via joint ventures with partners.

Soledad:
• Very encouraging results from the first phase drill program in 2014.
• Minera Casapalca have an option to earn up to a 70% interest at Soledad, and are expected
to commence a Phase II drill program in the first quarter of 2016.

Ocros:
• Systematic channel sampling yielded 326m of 0.68% copper over the length of a recently
reopened adit on the eastern edge of the concessions, last mined in the 1950s.
• Minera Casapalca have an option to earn up to a 70% interest in the Ocros concessions.
• Permitting process underway.

Lucero concessions (ore source for the former Shila Mine/Mill):

• Production Royalty agreement signed in November 2015.
• 3% NSR, with annual minimum.

Pucamayo East:
• Copper-Silver project, with DIA. We expect to secure a partner for this project in 2016. 14
 Contact Information

Head Office
Condor Resources Inc.
Suite 303, 543 Granville Street
Vancouver, BC, Canada, V6C 1X8

Phone: 604-642-5707// 1-866-642-5707

[email protected]
www.condorresources.com

Lyle Davis, President/CEO

[email protected]

Lima Office
Av. Javier Prado Este No. 1184, Office 302
San Isidro, Lima 27, Peru

Ever Marquez, VP Exploration

[email protected]
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