Condor Gold PLC (CNR.TSX.L) Condor Commences Ground Investigation Drilling

Condor Gold Commences Ground Investigation Drilling in Preparation for Mine Construction at La India Project, Nicaragua

Condor Gold (AIM: CNR; TSX: COG) is pleased to announce it has commenced a ground investigation program consisting of 20 geotechnical drill holes and 58 test pits on the Tailings Storage Facility (TSF), Water Retention Reservoir and Processing Plant site at La India Project, Nicaragua. Condor is accelerating La India Project from a Pre-Feasibility level of design to Final Engineering Designs on key infrastructure in preparation for construction on the fully-permitted La India gold mine project.

Highlights

· Geotechnical drilling and test pits for the final design for the tailing storage facility (TSF) has commenced.

· Final TSF design will be fully compliant with internal and external legislation.

· Geotechnical drilling and test pits on La Simona dam and reservoir – the purpose is to develop the design criteria for a retention dam and diversion water facility.

· Work also underway, via a dozen test pits, on initial characterization of the geotechnical properties of the plant area to allow next phase of design work to be detailed

Mark Child, Chairman and CEO commented:

“The commencement of ground investigations via a geotechnical drilling program of 20 drill holes and 58 test pits on the Tailings Storage Facility (TSF), La Simona water retention reservoir and processing plant site demonstrates Condor’s commitment to advance La India Project to construction. Condor has previously completed a Pre-Feasibility level design on the TSF and water retention reservoir.

The decision has been taken to accelerate the Project, by-passing a Feasibility level design, which is typically required for bank lending and go directly to a TSF Final level of design, which will, subject to funding, allow the fast tracking of the Project to future operational status”.

Background

Tierra Group International, Ltd. (Tierra Group) has been engaged to develop the Final Designs for the TSF and water retention reservoir for a new mine at La India Project. The Final TSF design will be fully compliant with internal and external legislation. Tierra Group will also undertake an initial ground investigation of the processing plant site that will be used to constrain and optimise the final layout design. Condor owns 100% of the land required for the TSF, La Simona dam and retention reservoir and plant location.

The purpose of the geotechnical drilling and some of the test pits is to c haracterize subsurface geology and foundation conditions below the proposed TSF and water retention dams’ footprints. Test pits will also characterize the surficial geology along the TSF’s proposed diversion channel alignments, the water retention properties of the soil and subsurface geology within the TSF and water retention reservoir, and the foundation conditions within the processing plant site. Tierra Group will perform in-situ permeability testing in the drill holes and measure the geomechanical properties of the soil and rock from the drill holes and test pits both on-site and through laboratory testwork. The geotechnical ground investigation is expected to take 70 days.

The geotechnical engineering analysis results and recommendations will support a TSF and retention dam Final Design, and contribute towards an advanced processing plant layout design. Tierra Group is completing the necessary civil engineering activities and are responsible for producing the final engineering design drawings for the TSF and water retention dam. The Ministry of Environment and Natural Resources (“MARENA”) has requested Final Designs as a condition of granting the key environmental permit to develop, construct and operate a new mine at La India. Dr Luc English, Condor’s former Country Manager is managing the geotechnical drilling and ground investigations as a senior consultant geologist, bringing with him extensive knowledge of the Project.


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