Re Agreement

Condor Resources PLC
15 February 2007

15th  February, 2007



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



                                Corporate Update

         Renegotiated Terms for the El Potosi Project Option Agreement



Condor Resources Plc (AIM: CNR) is pleased to report the successful
renegotiation of its Memorandum of Understanding ('MOU') with Brett Resources
Inc. of Canada (TSX Venture Exchange - BBR) ('Brett Resources') for the option
to acquire the El Potosi concession in El Salvador.



Under the terms of the new Restated Option Agreement, Condor may still earn a
100% interest in the El Potosi concession, but has deferred the final cash
payment of US$1,250,000 that was due on the 24th August 2006 under the original
MOU to 24th August 2007, by negotiating the new contract to allow an orderly and
full investigation of the project to be undertaken.



Condor's key obligations under the Restated Option Agreement are to:



•                Pay US$50,000 on signing the new agreement;

•                Issue 500,000 new ordinary shares in Condor to Brett Resources;

•                Incur expenditure costs of US$250,000 on the El Potosi licence
prior to 24th August 2007;

•                Report quarterly to Brett Resources on all activities completed
and planned for the concession area; and

•                Maintain the concession in good standing with El Salvadoran
authorities.



Condor may again defer the final cash payment of US$1,250,000 to 24th August
2008, by:



•                Giving written notice to Brett Resources that it will defer the
cash payment prior to the anniversary date.

•                Making a payment to Brett Resources of US$150,000, of which
US$100,000 can be settled through issuing new ordinary shares in Condor to Brett
Resources.

•                Incurring exploration expenditures of US$250,000 on the El
Potosi concession between 25th August 2007 and 24th August 2008.



Once Condor has satisfied the terms of the Restated Option Agreement Brett
Resources will retain a 1% Net Smelter Royalty on all gold and silver produced
after an initial 200,000 ounces of gold has been recovered from the project.



Condor has initiated an eight hole diamond drilling program on the El Potosi
licence to further test some of the better intersections encountered in the 2004
drilling campaign, which included intercepts of 5.35m of 22.15g/t gold in HQ
core and 5m of 9.23g/t gold in Reverse Circulation chips (as announced on 17th
August 2006). The program will also include trenching and follow up drilling on
some of the less well defined targets within the Capulin prospect area, lying
some 800m southeast of the main El Potosi prospect and historical workings.



Application has been made for the 500,000 new ordinary shares issued to Brett
Resources (as described above) to be admitted to trading on the AIM market.  The
new ordinary shares will rank pari passu with the existing ordinary shares of
0.1p each in the Company and dealings in these new ordinary shares are expected
to commence on 21 February 2007.



The total number of ordinary shares in issue following this issue will be
130,311,753.



                                      Ends



Enquiries:



Condor Resources Plc                                        Mark Child, Chairman
                                                            [phone]
                                                            Nigel Ferguson, CEO
                                                            [phone]



Nabarro Wells & Co. Limited                                 Hugh Oram
                                                            [phone]
                                                            Anthony Rowland
                                                            [phone]



Mirabaud Securities Limited                                 Rory Scott
                                                            [phone]





Parkgreen Communications Limited                            Lindsay Bancroft
                                                            Clare Irvine
                                                            [phone]




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