Resources and Reserves

Condor has defined NI 43-101 Compliant Resources and Reserves on several of its projects.

La India Project September 2014 NI 43-101 Mineral Resource Estimate
La India Project September 2014 NI 43-101 Mineral Reserve Estimate

Project

La India

La India

La India

Rio Luna

Nicaragua Total

La Calera*

Pescadito Project*

El Salvador Total

Grand Total

Condor Interest

100%

100%

100%

100%

100%

90%

90%

90%

Tonnes

9,600,000

8,500,000

18,100,000

694,000

18,800,000

6,040,000

7,110,000

13,150,000

31,930,000

Gold Grade (g/t)

3.5

4.5

4

3.5

4

1.6

1.9

1.8

3.1

Contained Gold (oz)

1,083,000

1,233,000

2,316,000

80,000

2,395,000

313,000

434,000

747,000

3,142,000

Attributable Gold (oz)

1,083,000

1,233,000

2,316,000

80,000

2,395,000

282,000

391,000

672,000

3,067,000

Silver Grade (g/t)

6

7

6

56

7

-

97

97

34

Contained Silver (oz)

1,790,000

860,000

2,660,000

500,000

3,158,000

-

22,100,000

22,100,000

25,530,000

Attributable Silver (oz)

1,790,000

860,000

2,660,000

500,000

3,158,000

-

19,890,000

19,890,000

23,292,000

Category

Indicated

Inferred

Ind+Inf

Inferred

Ind+Inf

Inferred

Inferred

Inferred

Ind+Inf

Gold Equivalent

3.6

4.6

4

4.4

4.1

1.6

3.4

2.6

3.5

(Ag:Au=67:1)

Grade (g/t)

Atrributable Gold Equivalent

1,110,000

1,250,000

2,360,000

86,000

2,440,000

285,000

688,000

973,000

3,410,000

(Ag:Au=67:1)

Grade (g/t)

CIM/JORC - Compliant Mineral Resource Estimation by

SRK (UK) to NI43-101 standard

SRK (UK) to NI43-101 standard

SRK (UK)

Geosure

Combined Geosure + Ravensgate certified historical pre-JORC

Tonnage to nearest 10,000 t
Gold grade to nearest 0.1g/t
Contained gold & gold equivalent to nearest 1,000 oz
Silver grade to nearest 1g/t
Contained silver to nearest 10,000 oz
Gold equivalent calculated using Ag:Au ratio of 67:1

* CNR has gifted 10% interest to the Condor Gold El Salvador Charitable Foundation

View Group Total Resources Table for Nicaragua & El Salvador