Exercise of Warrants

RNS Number : 1388F

Condor Resources PLC

19 April 2011

 

Condor Resources Plc

                               7th Floor

                                                   39 St. James's Street
                                                   London

                                                  SW1A 1JD

                                                   Telephone [phone] 

   Fax: [phone]

19^th April 2011

Condor Resources Plc

(''Condor'' or ''the Company'')

Exercise of Warrants

Condor Resources Plc, the AIM quoted Central America gold and silver exploration company, announces that on 18 April 2011, Mark Child, Chairman, exercised 10,000,000 warrants at a price of 1 pence per ordinary share. 

Following the exercise of these warrants, Mark Child's interest in the Company is as follows:

	No. of ordinary shares	% of issued share capital	No. of options	No. of warrants
Mark Child	57,500,000	10.7	15,250,000	13,750,000

Following this exercise the Company has outstanding 9.75 million warrants exercisable at a price of 1p per share, 5 million warrants exercisable at a price of 1.5p per share and 5 million warrants exercisable at a price of 2p per share. All outstanding warrants are exercisable up to 26 June 2011.

Following issue of the new ordinary shares, the Company's total issued share capital will be 535,595,086 ordinary shares of 1p each. Application will be made for these new ordinary shares to be admitted to trading on AIM and dealings are expected to commence at 8.00am on 28 April 2011.

 - Ends -

For further information please visit www.condorresourcesplc.com or contact:

Condor Resources plc	Mark Child, Chairman [phone]	Luc English, Country Manager Nicaragua & El Salvador [phone]
Ambrian Partners Limited	Samantha Harrison and Ben Wright [phone]
Farm Street Media	Simon Robinson [phone]

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing gold and silver resource projects in Central America.  The Company was admitted to AIM on 31^st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador.  Condor has four 100% owned licenses and 80% of La India concession in La India Mining District; three 100% owned licences in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua.  In El Salvador, Condor has 100% ownership of four licences in two project areas.

Condor's concession holdings currently contain a JORC compliant inferred resource base of 1,092,000 ounces of gold in Nicaragua and 747,000 ounces of gold and 22 million ounces of silver in El Salvador. The Resource calculations are compiled by independent geologists Ravensgate, Geosure and SRK.

Disclaimer

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

END

 

 

IOEIPMPTMBMBBRB