Condor Resources Closes Sale of Its Soledad Project
TSXV:CN WWW.CONDORRESOURCES.COM
CONDOR RESOURCES CLOSES SALE OF ITS SOLEDAD PROJECT
Vancouver, B.C., December 15, 2025 - Condor Resources Inc. ("Condor" or the "Company")
(TSXV:CN) is pleased to announce that its Peruvian subsidiary, Condor Explora�on Perú S.A.C.
(“Condor Peru”), has closed the sale of a 100% interest in the Company’s Soledad project, located in Ancash, Peru, pursuant to the terms previously announced on June 26th, 2025, to Compañía Minera Lincuna S.A. (“Lincuna”), a private mining company headquartered in Lima, Peru.
Under the terms disclosed in the Company’s June 26th, 2025 press release, Condor Explora�on Perú S.A.C. ("Condor Peru"), a wholly owned subsidiary of Condor, has completed the sale of the three mineral concessions comprising the Soledad project to Lincuna for ul�mate total considera�on of US$3,000,000. In parallel, a Cesión Minera agreement allows the Purchaser to immediately commence explora�on ac�vi�es on the project.
The total considera�on payable by the Purchaser for the purchase of the Soledad project of US$3,000,000, to be paid in the following installments:
- US$100,000 payment was made upon execu�on of the LOI (the “First Deposit”);
- US$500,000 payment was made on closing and upon execu�on of the defini�ve Mining Assignment and Op�on Agreement (the “Defini�ve Agreement”); and
- US$2,400,000 in twelve quarterly contracted payments of US$200,000 to be made over three years.
Lincuna may accelerate payments at its discre�on, but can extract and sell products from the Property for the purpose of earning revenues only a�er the Op�on has been completely exercised. Upon exercise of the op�on, Condor Peru will also be granted a 1% Net Smelter Returns (NSR) royalty. Lincuna has also assumed the exis�ng 1% NSR royalty payable to Chakana Resources S.A.C.
Chris Buncic, President and CEO of Condor, commented, “We are pleased to have successfully completed the sale of Soledad under the agreed terms, strengthening our balance sheet, as we turn our immediate a�en�on towards our highest-convic�on discovery opportuni�es in Peru.
Huiñac Punta represents a compelling opportunity to test a large – and largely untested – silver- rich carbonate replacement system in a highly prospec�ve district. We are confirming our por�olio explora�on plans as well as aggressively evalua�ng other business opportuni�es.”
About Condor Resources Inc.
Condor Resources is a precious and base metals explora�on company focused on its por�olio of projects in Peru. The Company’s flagship project, Pucamayo, is an 85 km2 property containing a high sulfida�on epithermal system with disseminated precious metals mineraliza�on with a large lithocap altera�on visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the poten�al to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the poten�al for discovery of a bulk tonnage silver and base metals deposit. The Company has also op�oned the Cobreorco project which targets gold-copper skarn and porphyry-style mineraliza�on to a subsidiary of Teck Resources Limited. The Company’s award-winning explora�on team in Peru has a long history of success in discovering and advancing high quality explora�on projects and managing the social aspects of its explora�on ac�vi�es.
For more informa�on, please visit the Company's website at www.condorresources.com.
Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.
ON BEHALF OF THE BOARD
Chris Buncic President & Chief Execu�ve Officer
For further informa�on please contact the Company at 1-866-642-5707, or by email at [email protected]
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securi�es law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “an�cipate”, “es�mate” and other similar words, or statements that certain events or condi�ons “may” or “will” occur. Such forward-looking statements include, but are not limited to the Company’s expecta�ons with respect to the use of proceeds raised under the sale.
Although the Company believes that the expecta�ons reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expecta�ons will prove to be correct. Such forward-looking statements are subject to risks and uncertain�es, including risks associated with the business of mineral explora�on and development; con�nued availability of capital and financing; general poli�cal and economic condi�ons, fluctua�ons in metal prices and other market-related risks, including any vola�lity in the Company’s share price, that may cause actual results, performance or developments to differ materially from those contained in such statements. Therefore, readers are cau�oned not to place undue reliance on forward-looking statements and forward-looking informa�on. Condor does not assume any obliga�on to update or revise its forward-looking statements, whether as a result of new informa�on, future or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regula�on 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.