Condor Resources Completes Sale of Soledad Project

Condor Resources Inc., through its Peruvian subsidiary Condor Exploration Perú S.A.C., finalized the sale of its 100% interest in the Soledad project in Ancash, Peru, to Compañía Minera Lincuna S.A. for a total of US$3 million. The sale agreement, initially announced on June 26, 2025, includes immediate exploration activities by Lincuna under a Cesión Minera agreement.

The transaction consists of an initial US$100,000 upon the letter of intent execution, US$500,000 at closing, and US$2.4 million spread over 12 quarterly payments. Additionally, Lincuna assumes an existing 1% Net Smelter Returns (NSR) royalty to Chakana Resources and will grant Condor a 1% NSR royalty post-option exercise.

Chris Buncic, Condor's President and CEO, expressed satisfaction with the sale completion and emphasized refocusing on other exploration opportunities in Peru, specifically the Huiñac Punta project with high potential for silver-rich carbonate replacement systems.