Condor Receives Environmental Permit (Dia) FOR Drilling at Flagship Pucamayo Project
TSXV:CN WWW.CONDORRESOURCES.COM
CONDOR RECEIVES ENVIRONMENTAL PERMIT (DIA) FOR DRILLING AT FLAGSHIP PUCAMAYO
PROJECT
Vancouver, B.C., August 31 , 2026 - Condor Resources Inc. – ("Condor" or the "Company")
(TSXV:CN) is pleased to announce that the Peruvian Ministry of Energy and Mines ("MINEM"),
through its Directorate General of Mining Environmental Affairs ("DGAAM"), has approved the
Declaración de Impacto Ambiental ("DIA") for the Pucamayo Sur target area at the Company's
flagship Pucamayo gold-silver project in central Peru.
The approved DIA contemplates 40 drill pads, with mul Ɵple drillholes permiƩed from each pad,
and provides a five- year term in which to complete the permi Ʃed exploraƟon ac ƟviƟes. The
Company has planned an exploraƟon drill program of up to 6,000 metres at Pucamayo Sur, to be
carried out in phases.
Chris Buncic, President and CEO, commented: "This is the permit that unlocks the larger half of
Pucamayo. Our team in Lima has carried this applica Ɵon through two years of technical review,
compeƟng surface land claims and administra Ɵve challenges, and has come out the other side
with a five-year permit and 40 pads. The Lima team, supported by our technical and legal advisors,
deserve enormous credit for navigaƟng the dynamic criteria successfully. Pucamayo Sur is a
project our peers already regard as one of the more compelling undrilled intermediate–to-high
sulphidaƟon epithermal precious metals systems within the TerƟary volcanic belt of the South
Central Andes and Peru."
Ever Marquez, Vice President Explora Ɵon, added: " The community has been very supporƟve of
our exploraƟon efforts throughout, including the expansion of our drill plans to cover Pucamayo
Sur. With the DIA in hand, our focus turns to gaining the final Ini ƟaƟon of Ac ƟviƟes permit,
crystalizing the drill plan and preparing the site for a drill program."
Pucamayo Sur
An updated drone-supported airborne magneƟcs survey completed over the exploraƟon area in
April 2024 iden Ɵfied two dis Ɵnct magne Ɵc anomalies interpreted as two hydro -magmaƟc
centres. The first lies within the area drilled to date at Pucamayo East. The second is located within
the Pucamayo Sur target area and is associated with a 3 kilometre by 2 kilometre area of
outcropping high sulphida Ɵon lithocap alteraƟon. Both targets are coincident with IP -related
geophysical anomalies idenƟfied in earlier surveys.
The Pucamayo Sur DIA follows the 2023 maiden drill program at Pucamayo East, which comprised
2,353 metres in nine drillholes. Those results confirmed a high to intermediate sulphida Ɵon
system with gold, silver, copper, lead and zinc mineraliza Ɵon hosted in hydrothermal breccia
ledges with halos of crackle breccia and quartz-carbonate vein fillings, and validated the
interpretaƟon of at least one hydro-magmaƟc centre. Pucamayo Sur represents the opportunity
to test the second such centre for the first Ɵme.
Figure 1: Pucamayo Sur DIA perimeter map (hashed blue)
The Company will finalize the design, phasing and Ɵming of the Pucamayo Sur drill program and
will provide an update in due course. Commencement and scope of drilling will be subject to
receipt of the Ini ƟaƟon of Ac ƟviƟes permit, available financing, weather condi Ɵons and the
compleƟon of site preparaƟon.
About the Pucamayo Project
Pucamayo encompasses 85 square kilometres of con Ɵguous concessions located in the
departments of Ica, Lima and Huancavelica, approximately 185 kilometres southeast of Lima, at
elevaƟons of 3,800 to 4,200 metres, in the Ter Ɵary volcanic belt that hosts several important
epithermal gold deposits in Peru. The project lies approximately 56 kilometres south-southwest
of Minera IRL Limited's Corihuarmi gold-silver mine and approximately 25 kilometres east of Nexa
Resources S.A.'s Cerro Lindo lead-zinc-copper mine. Condor owns 100% of 79 square kilometres
of these concessions. The property hosts a high sulphida Ɵon epithermal system with
disseminated precious metals mineralizaƟon beneath a large lithocap alteraƟon visible at surface.
About Condor Resources Inc.
Condor Resources is a precious and base metals exploraƟon company focused on its porƞolio of
projects in Peru. The Company’s flagship project, Pucamayo, is an 85 km2 property containing an
intermediate–to-high sulfidaƟon epithermal system with disseminated precious metals
mineralizaƟon with a large lithocap alteraƟon visible at surface. The Huiñac Punta project, a 7,200
Ha property in Huanuco, Peru, has the potenƟal to host a large carbonate replacement style (CRD)
silver-dominant polymetallic mineralized body with the potenƟal for discovery of a bulk tonnage
silver and pollymetallic deposit. The Company has also op Ɵoned the Cobreorco project which
targets gold-copper skarn and porphyry- style mineralizaƟon to a subsidiary of Teck Resources
Limited. The Company’s award-winning exploraƟon team in Peru has a long history of success in
discovering and advancing high quality explora Ɵon projects and managing the social aspects of
its exploraƟon acƟviƟes.
For more informaƟon, please visit the Company's website at www.condorresources.com.
Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.
ON BEHALF OF THE BOARD
Chris Buncic
President & Chief ExecuƟve Officer
For further informaƟon please contact the Company at 1-866-642-5707, or by email at
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