Department of Arequipa, Peru. The next scheduled payment of US$200,000 is due on or before

40640.164010.GHS.22433228.1

Condor receives payment from Element79 Gold Corp.

Vancouver, B.C., February 2, 2023 - Condor Resources Inc. - ("Condor" or the "Company") (TSXV:CN) announces that it

has received the January 31, 2023 payment of US$100,000 from Element79 Gold Corp. (“Element79”). Element79 became

the sole owner of Calipuy Resources Inc., (“Calipuy”), and assumed Calipuy’s obligations with respect to Calipuy’s

agreement to acquire the shares of Condor’s subsidiary, Minas Lucero del Sur S.A.C., the owner of the Lucero project,

Department of Arequipa, Peru.

The next scheduled payment of US$200,000 is due on or before March 31, 2023.

Condor is an active explorer focused exclusively on Peru, supplemented by a project generator and royalty model designed

to generate exploration capital whilst minimizing shareholder dilution. Our objective in advancing our portfolio of projects

is the discovery of a major new precious metals or base metals deposit in Peru. Project acquisition and exploration activities

are managed by the Company’s Lima based exploration team.

ON BEHALF OF THE BOARD

Lyle Davis,

President & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this news release.