Exercise of Options and TVR

Thursday, November 21, 2013

21 November 2013



Condor Gold plc

(‘’Condor’’ or “the Company”)

Exercise of Options and Total Voting Rights


Exercise of Options

Condor (AIM:CNR), a gold exploration company focused on delineating a large commercial resource on its wholly owned 2.33M oz gold resource at La India Project in Nicaragua, announces that is has received notice from Mark Child, the Company’s Executive Chairman and CEO, to exercise 450,000 options at a price of 20 pence per ordinary share that were granted in 2008. Following the exercise of options Mark Child is now interested in 3,887,500 ordinary shares in the Company representing 10.14% of the Company’s issued share capital.

Pursuant to the exercise of options the Company has received funds of £90,000 and accordingly it has issued and allotted 450,000 new ordinary shares in the Company, which on admission will rank, pari passu, with all existing ordinary shares. Application has been made for the new ordinary shares to be admitted to trading on AIM and admission is expected to take place on or around 27 November 2013.

Total Voting Rights

Following the exercise of options, the Company's total issued share capital comprise 38,323,960 Ordinary Shares of 20 pence each, with voting rights, none of which are held in treasury. Therefore this figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Major Shareholders

Following the issue of new ordinary shares and based upon information on the number of shares previously supplied to the Company, the Company is aware of the following persons who hold, directly or indirectly, voting rights representing 3% or more of the issued share capital of the Company to which voting rights are attached:



Number of Shares

Percentage of issued share capital

Regent Pacific Group



Mark Child



Oracle Management Ltd



Sentry Precious Metals Growth Fund



Note (1): Executive Chairman and CEO


- Ends -


For further information please visit www.condorgold.com or contact:


Condor Gold plc

Mark Child, Executive Chairman and CEO

+44 (0) 20 7408 1067


Luc English, Country Manager Nicaragua

+505 8854 0753


Beaumont Cornish Limited


Numis Securities Limited

Roland Cornish

+44 (0) 20 7628 3396


John Prior and James Black
+44 (0) 20 72601000



Farm Street Media

Simon Robinson

+44 (0) 7593 340107



About Condor Gold plc:

Condor Gold plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America. The Company was admitted to AIM on 31st May 2006 with the stated strategy to prove up CIM/JORC Resources in Nicaragua and El Salvador. Condor has seven 100% owned concessions in La India Mining District (“La India Project”); three 100% owned concessions in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua. In El Salvador, Condor has 90% ownership of four licences in two project areas.

Condor’s concession holdings in Nicaragua currently contain an attributable CIM/JORC compliant resource base of 2.33M oz gold equivalent at 3.9 g/t in Nicaragua and an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua, and Ravensgate and Geosure for El Salvador.


Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.