Grant of Options

RNS Number : 4148I

Condor Gold PLC

02 July 2013

 

Condor Gold Plc 7th Floor 39 St. James's Street London SW1A1JD                                                                            Telephone [phone]  Fax: [phone]

2^nd July 2013

Condor Gold Plc

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

                                                            Grant of Options

Condor Gold Plc, an AIM quoted gold and silver exploration company focused on proving a large commercial gold reserve on its La India Project in Nicaragua, announces that on 1^st July 2013 (the "Grant Date") it granted 1.35M share options under the Company's existing share options scheme to Directors and other staff.

The share options were granted by the remuneration committee and approved by the Board as part of the Company's annual share option scheme. The share options were granted to:

Mark Child           600,000

Jim Mellon           150,000

Roger Davey        150,000

Luc English            80,000

Other employees  370,000

The share options have an exercise price of £1 and are exercisable for a period of 5 years from the Grant Date, with the restriction that no options can be exercised within 12 months of the Grant Date, 50% of the said options can be exercisable12 months after the Grant Date and 100% of the said options can be exercisable 24 months after the Grant Date, provided that the grantee remains with the Company.

Following the grant of the share options outlined above, there are 3,733,300 share options outstanding, representing 9.86% of the 37,873,960 ordinary shares in issue.

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

Condor Gold plc	Mark Child, Executive Chairman and CEO [phone]	Luc English, Country Manager Nicaragua & El Salvador [phone]
Beaumont Cornish Limited	Roland Cornish [phone]
Ocean Equities Farm Street Media	Will Slack [phone] Simon Robinson [phone]

About Condor Gold Plc:

Condor Gold 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 31st May 2006 with the stated strategy to prove up CIM/JORC Resources in Nicaragua and El Salvador. Condor has seven 100% owned concessions in La India Mining District ("La India Project"); three 100% owned concessions in three other project areas and 20% in the Cerro Quiroz concession in Nicaragua. In El Salvador, Condor has 90% ownership of four licences in two project areas.

Condor's concession holdings in Nicaragua currently contain an attributable CIM compliant resource base of 2,497,000 ounces of gold equivalent at 4.6 g/t in Nicaragua and an attributable 1,004,000 oz gold equivalent at 2.6g/t JORC compliant resource base in El Salvador. The Resource calculations are compiled by independent geologists SRK Consulting (UK) Limited for Nicaragua, and Ravensgate and Geosure for El Salvador

 

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