Condor Resources Announces Drilling Program at the Cobreorco Copper-GOLD Project, PERU
TSXV:CN WWW.CONDORRESOURCES.COM
CONDOR RESOURCES ANNOUNCES DRILLING PROGRAM AT THE COBREORCO COPPER-GOLD
PROJECT, PERU
Vancouver, B.C., May 29, 2026 - Condor Resources Inc. (“Condor” or the “Company”) (TSXV: CN)
is pleased to announce that drilling will commence at its Cobreorco copper-gold project in
Apurímac, Peru. The 3,500 metre diamond drilling program, comprising six priority holes, is the
first drill program at Cobreorco under the Company’s op Ɵon and joint venture agreement with
Teck Perú S.A. (“Teck”), a subsidiary of Teck Resources Limited, and follows the extensive
geophysical, geochemical and geological work completed in 2025 that defined the target.
The program will be carried out with two diamond drill rigs. The first rig is mobilizing to begin
drilling in June 2026, with a second rig to be added over the following weeks to advance the
program in parallel. Drilling is designed to test a coincident copper-gold skarn and porphyry target
supported by overlapping magneƟc, gravity and induced polarizaƟon anomalies.
Chris Buncic, President and Chief Execu Ɵve Officer of Condor, commented: “Commencement of
drilling at Cobreorco is a milestone our shareholders have waited a long Ɵme for, and one we are
very pleased to reach. Teck has done outstanding work refining the geological model and
compleƟng the technical, social and permiƫng groundwork, and this program is the culminaƟon
of that effort. Cobreorco sits in one of the most prolific copper-gold belts in Peru, alongside world-
class deposits such as Las Bambas, and we believe a well-targeted drill program has the potenƟal
to deliver meaningful value for Condor shareholders.”
The 2026 program targets a structurally controlled and intrusive-related copper-gold-iron skarn
and porphyry system hosted in Eocene intrusions. The principal objec Ɵve is to intersect high -
grade skarn mineraliza Ɵon, interpreted as a cluster of discrete mineralized cells, related to
potassic-altered, copper-oxide-bearing dykes mapped at surface, and a poten Ɵal underlying
porphyry interpreted as the source of the broader hydrothermal system. The target is defined by
coincident high chargeability, magne Ɵc-high and elevated-density responses across the main
porphyry-skarn footprint.
Figure 1: Synthesis target map showing proposed drill holes over project geology with coincident
geophysical and geochemical anomaly footprints
Cobreorco lies within the Southern Peru Eocene metallogenic belt, host to a number of large
copper-gold skarn and porphyry deposits that share the same carbonate host stra Ɵgraphy and
Eocene intrusive ages (approximately 34 Ma) interpreted at Cobreorco. Deposits within the belt
include Ferrobamba at the Las Bambas mining complex (2.3 billion tonnes grading 0.55% Cu),
Coroccohuayco in the Tintaya district (184 million tonnes grading 1.02% Cu), and Haquira (1.4
billion tonnes grading 0.45% Cu). These deposits illustrate the scale and grade poten Ɵal of well-
developed skarn-porphyry systems in the belt and provide geological context for the style of
mineralizaƟon Condor and Teck are tesƟng at Cobreorco.
Readers are cau Ɵoned that mineraliza Ɵon hosted on adjacent, nearby and/or analogous
properƟes is not necessarily indicaƟve of mineralizaƟon on the Company’s property. The deposits
referenced above are provided for geological context only.
Figure 2: SchemaƟc geological model of the interpreted Cobreorco skarn-porphyry system
showing the relaƟonship between skarn bodies, mineralized dykes and the interpreted porphyry
source
Samples will be submiƩed for assay on a hole-by-hole basis following compleƟon of first-pass core
logging. Allowing for laboratory turnaround, the Company an Ɵcipates receiving ini Ɵal assay
results in early August 2026, and will provide results as they are received, compiled and
interpreted.
Cobreorco comprises nine mineral concessions totaling approximately 5,100 hectares and is
located in the Southern Peru Eocene Belt, approximately 175 kilometres southwest of Cusco. The
project hosts copper-gold skarn and porphyry-style mineraliza Ɵon and is considered by
management to represent a significant discovery opportunity. Cobreorco is being advanced
pursuant to Condor’s op Ɵon and joint venture agreement with Teck, the details of which are
available in previous corporate disclosures.
Technical Disclosure
The scienƟfic and technical informa Ɵon contained in this news release has been reviewed and
approved by Dr. Quinton Hennigh, P .Geo., Ph.D., a Qualified Person as defined by Na Ɵonal
Instrument 43-101 and a Director of Condor Resources Inc.
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 km 2 property containing a
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 poten Ɵal to host a large carbonate replacement style (CRD) silver-dominant
polymetallic mineralized body with the potenƟal for discovery of a bulk tonnage si lver and base
metals deposit. The Company has also opƟoned the Cobreorco project which targets gold-copper
skarn and porphyry-style mineralizaƟon to a subsidiary of Teck Resources Limited. The Company’s
award-winning explora Ɵon 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 explora Ɵon
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
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable
securiƟes law. Forward-looking statements are frequently characterized by words such as “plan”,
“expect”, “project”, “intend”, “believe”, “an Ɵcipate”, “es Ɵmate” a nd other similar words, or
statements that certain events or condi Ɵons “may” or “will” occur. Such forward-looking
statements include, but are not limited to the Company’s expectaƟons with respect to the use of
proceeds raised under the sale.
Although the Company believes that the expecta Ɵons reflected in applicable forward -looking
statements are reasonable, there can be no assurance that such expecta Ɵons will prove to be
correct. Such forward-looking statements are subject to risks and uncer tainƟes, including risks
associated with the business of mineral explora Ɵon and development; con Ɵnued availability of
capital and financing; general poliƟcal and economic condiƟons, fluctuaƟons in metal prices and
other market-related risks, including any volaƟlity in the Company’s share price , that may cause
actual results, performance or developments to differ materially from those contained in such
statements. Therefore, readers are cau Ɵoned not to place undue reliance on forward -looking
statements and forward-looking informaƟon. Condor does not assume any obliga Ɵon to update
or revise its forward- looking statements, whether as a result of new informa Ɵon, future or
otherwise, except as required by applicable law.
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the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.