Condor Resources Inc. Receives Scheduled Payment from Element79 for Lucero Project

VANCOUVER, BC - Condor Resources Inc. (TSXV:CN) has announced the receipt of a rescheduled payment of US$220,000 from Element79 Gold Corp. This payment is part of an ongoing financial agreement related to the Lucero project. Element79 Gold Corp., through its ownership of Calipuy Resources Inc., has fulfilled this part of their agreement to acquire the shares of Condor's subsidiary, Minas Lucero del Sur S.A.C.

The transaction is part of a larger agreement made in January 2021, when Condor sold Minas Lucero del Sur S.A.C. for US$3.5 million, payable over five years. Further payments are contingent on rising gold prices, with potential increases in total consideration based on the future gold prices at the time of final payment. To date, Condor has received a total of US$965,000. The next major payment of US$1,000,000 is set for on or before December 21, 2024.