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May 2010. Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information included in or incorporated by reference in this.

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Presentation on theme: "May 2010. Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information included in or incorporated by reference in this."— Presentation transcript:

1 May 2010

2 Condor Resources Inc. 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 managements 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 of, 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 Condors 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 or otherwise, except to the extent required by applicable laws. 2

3 Company Highlights Condor is focused exclusively on exploration in South America. Condor has an excellent portfolio of discovery stage properties, including six 100% owned projects in Chile, and seven projects in Peru, each offering a unique path to discovery. Chile and Peru are home to world-class mineral deposits and have progressive, pro-mining regulatory regimes. Condor has 728 sq km of land tied up in highly prospective underexplored areas of Chile and Peru. Condor maintains good relations with the communities in which it works. 3

4 Experienced Management Team 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 a 19 year career in mineral exploration. Previously the Senior Regional Exploration Geologist at Newmont Peru Limited. 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 Lyle Davis, Director Paul Larkin, Director Robert Boyd, Director Technical Advisory Board John E. Robins Patrick Gorman Brian Fagan Art Soregaroli 4

5 Share Structure April 30, 2010 Shares Outstanding: 47,884,496 Fully Diluted: 62,638,241 Working Capital:$3.2 million Options: 3,085,000 Warrants: $0.40 warrants expire February 20, 2011 $0.10 warrants expire July 20, 2011 Fully Diluted Working Capital: 11,668,745 6,148,000 5,520,745 $7.4 million 5

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7 Pucamayo Discovery - high grade bonanza-style gold-silver mineralization with channel samples returning values up to 86.6 (g/t) Au over 3 meters (m) and 5.85 g/t Au over 10m in the West Zone and up to 0.95 g/t Au and 343 g/t Ag over 5m in the East Zone. The size of the targets and the extensive anomalous gold and silver mineralization suggest potential for the discovery of one or several large gold-silver deposits. This new greenfields discovery on the Pucamayo property has never been previously sampled or drill tested. 42 sq km property located 180 km SE of Lima within the Central Andes Tertiary volcanic precious metals belt that hosts the multi-million ounce Yanacocha, Alto Chicama, and Pierina Au-Ag deposits. 7

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10 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. Condors 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." 10

11 Cordillera del Condor Belt 11

12 $ $ Condor Resources Inc. CONDOR DE ORO PROJECT Projection: UTM Zone 17, Southern Hemisphere (WGS 84) GEOCHEMISTRY ROCKS / SOIL AU (PPB) Pucayacu Yuracyacu Condor de Oro Property International Limit Drainage LEGEND Contour Level Banded Qtz-Py-Ccp-Gn-Sph vein structure,N160º/40ºNE, <1m. Wide with Au-Ag-Cu- Pb-Zn mineralization Qtz-Ser-Py-Ccp-Cc-Cv-Bn diss. with stockwork Qtz-Py-Ccp-Cc-Cv-Bn veinlets Banded quartz vein structure >2m. wide, with base metals mineralization Banded quartz vein structure >10m. wide, with base metals mineralization Qtz-Ser-Ksphar-Py with intense stock work Qtz-Py-Cv-Sph-Ccp-Gn Banded quartz vein structure with base metals mineralization Kilometers02 PERU ECUADOR Qtz-Chl-Ser-Py with stockwork Qz-Py ROCK / SOIL GEOCHEMISTRY 12

13 PERU ECUADOR Machala Belt LINEAMENT, CONTACT FAULT VEIN INFILL & STRUCTURAL PHYLLIC Stockwork ARGILLIC PROPYLITIC ALTERATION MAGNETIC BODY GEOPHYSICS Cordillera del Condor Belt Condor Resources Inc. CONDOR DE ORO PROJECT Projection: UTM Zone 17, Southern Hemisphere (WGS 84) Geophysic Magnetometry Survey Normalized Total Magnetic Field Map Kilometers Kilometers02 BASE METALS MINERALIZATION TARGET MINERALIZATION TARGET GOLD - COPPER MINERALIZATION TARGET Pucayacu Yuracyacu Yanayacu 13

14 Condor Resources Inc. CONDOR DE ORO PROJECT Projection: UTM Zone 17, Southern Hemisphere (WGS 84) GEOCHEMISTRY ROCK & SOIL AU (PPB) PUCAYACU TARGET ROCK / SOIL GEOCHEMISTRY Banded Qtz-Py-Ccp-Gn-Sph vein structure,N160º/40ºNE, <1m. Wide with Au-Ag-Cu- Pb-Zn mineralization Qtz-Ser-Py-Ccp-Cc-Cv-Bn diss. with stockwork diss. with stockworkQtz-Py-Ccp-Cc-Cv-Bnveinlets Qtz-Chl-Ser-Py with stockwork Qz-Py PERU ECUADOR Qtz-Ser-Clay-FeOx (Lm) With stockwork Qtz-FeOx (Lm) Pucayacu Kilometers01 Condor de Oro Property International Limit Drainage LEGEND Contour Level PUCAYACU GOLD - COPPER MINERALIZATION TARGET 14

15 Cordillera del Condor Belt PERU ECUADOR LINEAMENT, CONTACT FAULT VEIN INFILL & STRUCTURAL MAGNETIC BODY GEOPHYSICS ALTERATION PHYLLIC Stockwork ARGILLIC PROPYLITIC Condor Resources Inc. CONDOR DE ORO PROJECT Projection: UTM Zone 17, Southern Hemisphere (WGS 84) PUCAYACU TARGET Geophysic Magnetometry Survey Normalized Total Magnetic Field Map Kilometers Pucayacu GOLD - COPPER MINERALIZATION TARGET 15

16 La Libertad Porphyry Copper-Molybdenum target. Located 280 km NW of Lima and 80 km SW of the Antamina Deposit. Abundant surface oxide copper mineralization grading to more than 1% Cu and 0.3% Mo. Similar geology to the La Granja porphyry copper deposit (reserves of 3.2 billion tonnes grading 0.62% Cu). Drill ready. 100% owned. "Reported reserves are inferred only, and from the websites and public documents of the Companies whose deposits are mentioned." 16

17 Structure N-S / 80 W, 0.50 m. wide Qz-Py Hbx Channel, Qz-Turmaline matrix with Qz-Ser-Py clasts. Leached cap with secondary enrichment of Chalcosite and malachite Qz-Ser-Py-Cp-Mo diss and stw. Qz-Py-Cp-Mo, Chalcosite in fractures SHEMUR CREEK Porphyry Copper and Molybdenum Target Condor Resources Inc. GEOCHEMISTRY COPPER (PPM) Projection: UTM Zone 18, Southern Hemisphere (WGS84) LA LIBERTAD PROPERTY 200 Has. LA LIBERTAD PROJECT 17

18 Community Relations Condor is committed to working with the local communities to complete its exploration programs and develop sustainable projects for the future. Condor maintains close ties to the communities in which it works. Meeting with local authoritiesMeeting with company personal 18

19 Moving Forward – 2010 Exploration Plans Pucamayo: Geophysics has been completed and additional prospecting, mapping and sampling are on going in preparation for a 3,000m to 5,000m drill program. Condor de Oro: To conduct additional prospecting, sampling and mapping at Pucayacu in preparation for a Phase I drill program and define/delineate the large Yuracyacu Au and base metals target. La Libertad: Geophysics has been completed. To prepare La Libertad for a First Phase drill program comprising 2,000 to 2,500m. Joint Ventures: Chavin and Becker projects are currently subject to joint venture agreements and efforts are ongoing with several other properties. 19

20 Thank you Contact Information Head Office Condor Resources Inc. Suite 120, 601 West Cordova St. Vancouver, BC Canada, V6B 1G1 Phone: Fax: Toll Free:


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