Condor Resources Inc.
TSX VENTURE : CN

Condor Resources Inc.

July 26, 2011 15:48 ET

Condor Warrants Exercised, AGM Scheduled

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2011) - Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to announce that over 97% of the warrants expiring on July 20, 2011 were exercised. Subsequent to publishing its year-end financial statements on June 30th, Condor has received further funds of $354,747 from the exercise of 3,547,470 warrants. The proceeds from the exercise of warrants will be used for working capital purposes and to fund ongoing exploration work. The Company's working capital is now approximately $4 million.

The Company's Annual General Meeting is scheduled for 10:00 a.m. August 30th, and will be held at Suite 1040, 999 W. Hastings St., Vancouver, B.C., V6C 2W2. Record date for the AGM is July 26, 2011.

About Condor Resources Inc.

Condor Resources Inc. was incorporated in 2003 by field exploration specialists focused on the generation of gold and copper projects in South America, where management has extensive experience and a proven track record of discovery. The Company's long term objective is the discovery of a major new gold and/or base metal deposit, and its business plan offers shareholders access to an exciting and growing portfolio of discovery stage properties, including six projects in Chile, and nine projects in Peru, each offering a unique path to discovery.

ON BEHALF OF THE BOARD

Patrick J. Burns, President & Chief Executive Officer

Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Corporation does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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