Drilling Report

Condor Resources PLC
26 September 2006


26th September 2006


                              Condor Resources Plc
                          ('Condor' or 'the Company')

   Commencement of Drilling at the El Pescadito Project and Corporate Update,



Commencement of Drilling

Condor Resources Plc (AIM: CNR) is pleased to announce that it has commenced
drilling at the Loma del Caballo Prospect within the El Pescadito Project in El
Salvador.

Condor plans to drill 835m of HQ diameter coring in this initial phase at the
Loma del Caballo quartz vein breccia stockwork system, which is at least 650m
long with widths of up to 60m and is open along strike and down dip, to obtain
structural geological information that will allow better drill location planning
for the major Reverse Circulation programme that the Company expects to start
later in the year.

The subsurface mineralisation intercepted in drill holes will be joined to
surface mineralisation exposed in trenching to allow wire-framing of the ore
zones and calculation of mineral resources.

Chief Executive Officer, Nigel Ferguson, commented: 'We are delighted that this
first phase of drilling has started at Loma del Caballo as it is an important
step in our strategy to increase the known resources at the El Pescadito
Project.  We look forward to announcing results from the drilling programmes in
due course.'

Trenching

Since listing on AIM, Condor has completed a total of 1005 metres of trenching
on the El Pescadito and La Calera Projects in addition to mapping of further
prospects within El Salvador.  Mineralised and altered zones encountered within
the trenches provide confirmation of Condor's target model of broad zones of
gold mineralisation with inter-fingering high grade quartz veins.  Complete
assay results will be available shortly, however, in an update to the initial
trenching results at the Loma del Caballo Prospect (RNS 17/08/06) complete
results for that area are presented below:


Trench         Structure     Intercept (m)     Gold (g/t)    Silver (g/t)        Comment
LOTR1            Main              2              2.18           18.5             Open
LOTR2            Main              2              0.69           13.9             Open
    and          Main              5              0.62           29.8
LOTR3            Main              7              1.88           17.6             Open
    Inc          Main              1              5.01           27.4
LOTR4            Main              15             3.24           42.0             Open
    Inc          Main              2              17.52         229.2
LOTR5            Main                                                        No significant
                                                                                 results
LOTR6            Main              2              1.78           24.6
LOTR7            Main              13             1.97           59.0
LOTR8            Main              11             2.59          188.5             Open
    Inc          Main              2              11.11         680.2
    and          Main              3              0.63           52.6
    and          Main              4              0.68           44.4
    and          Main              1                0          2,298.3



Qualified Person's Declaration

The information in this announcement that relates to exploration results is
based on information compiled and reviewed by Nigel Ferguson, CEO, who is a
Member of the Australian Institute of Mining and Metallurgy and a geologist with
20 years of experience in the exploration and definition of precious and base
metal Mineral Resources and has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and to the type
of activity which he is undertaking to qualify as a Qualified Person as defined
in the March 2006 Edition of the AIM Guidance Note for Mining, Oil and Gas
Companies.  He consents to the inclusion in the announcement of the matters
based on his information in the form and context in which it appears and
confirms that this information is accurate and not false or misleading

Corporate Update

The Company has appointed Breams Registrars and Nominees Limited of 52 Bedford
Row, London, WC1R 4LR as Secretary to the Company and the Company's registered
address has been changed accordingly.
   
In order to align the accounting reference date of Condor with its operating
subsidiaries, the Company has changed its accounting reference date from 31
October to 31 December and the first accounting period of the company will be
extended to 31 December 2006.  The first half-yearly report will be in respect
of the six months ended 31 August 2006 and will be announced by 30 November
2006.


                                      Ends

Enquiries:

Condor Resources plc          Nabarro Wells & Co Limited            Parkgreen Communications
Mark Child, Chairman /        Hugh Oram, Director                   Simon Robinson /
Nigel Ferguson, CEO                                                 Lindsay Bancroft
[phone]           [phone]                  [phone]



Notes to Editors

About Condor Resources Plc

Condor Resources Plc (AIM: CNR) is a London based mineral resources company with
a  focus on gold and silver exploration within Central America. The Company
controls a portfolio of concessions largely prospective for high grade
epithermal gold and silver in El Salvador and Nicaragua in Central America.

The Group holds the rights to, or the rights to farm into, mineral exploration
concessions over a combined area of some 980km(2) of ground in prospective areas
of El Salvador and Nicaragua.

Within the two contiguous licences contained within the El Pescadito Project in
El Salvador, Ravensgate has reported Inferred Mineral Resources, as defined by
the JORC standard, of some 354,500 ounces of gold and 18.3 million ounces of
silver.  The Company commenced exploration in late 2003 in El Salvador and has
continued actively to evaluate new projects and develop its key assets at the El
Pescadito and El Potosi Projects in El Salvador. Condor was recently awarded the
El Gigante licence (RNS dated 17/08/2006) which is adjacent to the two El
Pescadito Project licences already held and affords Condor a consolidation of
ground holding in the area and further additional targets.

The Group's principal objective is to update and extend its mineral resources In
addition the Company intends to drill test several other targets within the
projects. The drilling programme is planned to be between 20,000m to 40,000m of
combined reverse circulation and diamond drilling.

Exploration Areas:

El Salvador

Within the  El Pescadito Project in El Salvador, Condor has reported Inferred
Mineral Resources, as defined by to JORC standard, of some 354,500 ounces of
gold and 18.3 million ounces of silver within two contiguous licences.

At the La Calera Project, a 100 per cent. owned licence, previous drill testing
has outlined mineralised structures in the Rosa and Rosa West and Calichal veins
with excellent potential for shallow, potentially open pittable gold resources
as well as subsequent high grade underground gold resources.  Trenching has
recently been completed at La Calera and results are expected soon. The fourth
licence area, the El Potosi Project, where Condor is earning a 100 per cent
interest, contains the historical El Potosi Mine which produced an estimated
60,000 ounces of gold at between 18 and 30g/t prior to 1950. Condor has
completed a first phase drilling programme of Reverse Circulation ('R.C.') and
diamond drilling to test these structures with positive results. Further
drilling is planned.

Nicaragua

An option and farm in Agreement within Nicaragua over five licences and one
licence which is under application, contained within three project areas,
affords Condor exposure to a number of projects, many of which have historical
mines and workings.  Further assessment work on other opportunities continues.

At the Segovia Project area, Condor has concentrated on the high grade
structures containing the historical San Albino Mine, and field work to date has
confirmed several high grade quartz veins within the district, some of which
contain visible gold.




                      This information is provided by RNS
            The company news service from the London Stock Exchange