Condor Resources Inc.

TSX VENTURE : CN


Condor Resources Inc.

January 23, 2014 16:43 ET

Francisco de Undurraga Joins Condor's Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to announce that Mr. Francisco de Undurraga has joined the Company's Technical Advisory Board. Mr. de Undurraga is a resident of Santiago, Chile, a significant shareholder of the Company, and formerly served as a director.

Mr. de Undurraga is a member of the board of Sundance Investment LLC, a company controlled by Citigroup Venture Capital International (CVCI), operating in oil exploration in the Peruvian Amazonia since 2006. He is also the founder and Chairman of FIP Ariston Cima, a private investment fund based in Santiago, Chile, since 2004, and managed by BTG Pactal, one of the most important South American investment banks. Ariston Cima manages diversified investments in the forestry, real estate, oil and mining exploration and financial sectors. Mr. de Undurraga has had an extensive corporate executive career, holding positions as senior executive and CEO in several Chilean based companies that include Enersis and Laboratorio Chile, both with wide international operations in South America and listed on the Santiago Stock Exchange and NYSE as well. Mr. de Undurraga originally graduated as Civil-Industrial Engineer from the Universidad de Chile in Santiago, and subsequently graduated in Nuclear Engineering from the International Atomic Energy Agency (IAEA) in Madrid, Spain. He also graduated from the Stanford Executive Program at Stanford University in California.

In conjunction with his appointment to the advisory board, Mr. Undurraga has been granted 200,000 incentive options, with an exercise price of $0.12.

The Company currently has four of its properties under active exploration by third parties, and looks forward to a steady flow of results from these programs. In addition, the Company is actively seeking partners on its other projects, and reviewing new opportunities identified by its Lima based technical team.

ON BEHALF OF THE BOARD

Lyle Davis, 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 Company 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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