SAN ISIDRO GOLD PROJECT

The San Isidro property is situated 70 kilometres due north of Managua, the capital city of Nicaragua. Road access is excellent, first by driving north along the sealed Pan American Highway and then for 20km southwest on a two lane sealed road which passes directly through the project area to the town of La India.

The concession falls within the La India Gold Mining District where Tertiary-age island arc volcanic rocks host Bonanza-type, low-sulphidation epithermal gold-silver mineralisation. Exploration by other companies has identified over 20 strike kilometres of gold mineralised quartz-carbonate veins in the district. Gold mineralisation is focused in high grade shoots within the quartz veins, with structural repetition often causing stacked sets of mineralised quartz veins up to 25 metres wide.

The La India Gold Mining District hosts the historic La India Gold Mine which processed an estimated 1.7Mt at 13.4g/t Au, producing 576,000oz gold between 1938 and 1956. In addition to this historical gold production, the La India Gold Project, held by AIM-listed Condor Gold Plc, currently hosts a 2.4 million ounce unmined gold resource (16.2M tonnes @ 4.6g/t gold) contained in several deposits.

San Isidro adjoins the eastern boundary of Condor’s La India Project. One of Condor’s deposits is the historical Cristalito gold mine on which a small, high grade gold resource of 34,000 ounces at a grade of 5.3 g/t Au has been identified. Hosted within quartz veins and shear zones, this mineralised zone appears to trend north-easterly into the San Isidro property.

Exploration comprising the collection of 17 samples from veins situated northeast of the Cristalito mine workings towards the San Isidro property returned very encouraging results. Sixteen samples returned grades greater than 4g/t gold and 10 samples greater than 10g/t gold. No other modern exploration has been carried out on San Isidro, however with high grade gold mineralisation nearby, the project is considered to have good potential for hosting significant gold mineralisation of the La India style.