Condor Resources Obtains Exploration Permit for Cobreorco Project

Condor Resources Inc. has announced that it has received the Initiation of Activities permit for its Cobreorco copper-gold project in Apurímac, Peru. This is the final permit needed to begin exploration drilling. The project is being developed in partnership with Teck Perú S.A., a subsidiary of Teck Resources Limited.

Teck Perú plans to start a 3,500-meter diamond drilling program in June 2026. The program will focus on six priority holes targeting copper-gold skarn and porphyry deposits identified through extensive exploration in 2025. The geological model for Cobreorco was refined with geophysical surveys and community engagement was accomplished, securing necessary support and permits.

The Cobreorco project comprises nine mineral concessions over 5,100 hectares and is located approximately 175 kilometers southwest of Cusco. The terms of the agreement with Teck Perú allow the latter to earn a 55% interest in the project through exploration expenditures and cash payments. The interest may increase to 75% with additional commitments.