High Grades in Nicaragua

Condor Resources PLC
04 March 2008

4 March 2008


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


             High Grade Assays Returned from Sampling in Nicaragua


Condor Resources Plc (AIM: CNR) announces a number of encouraging gold
intersections from exploratory trench and historical mine adit sampling in the
area surrounding its Arras Prospect in Nicaragua, where a number of promising
new prospects have been identified from the initial results.


Highlights


Significant assay results returned from trench and channel chip sampling
include:


   •4 metres at 7.82g/t gold in an old adit from channel sample POTN001
   •7 metres at 6.64g/t gold in an old adit channel sample POTN003
   •1 metre at 5.13g/t gold in an old adit from channel sample POTN004
   •1 metre at 7.95g/t gold in trench POTR006
   •2 metres at 15.42g/t gold in trench POTR007
   •0.85 metres (true thickness) at 7.99g/t gold in a road cutting channel
    sample POCT001A
   •8 metres at 3.43g/t gold in trench SATR036 (NB: true thickness approx. 2
    metres)
   •1 metre at 3.02g/t gold and 1 metre at 6.00g/t gold separated by 2 metres
    of low-grade material in trench SATR038


Condor Chief Executive, Nigel Ferguson, commented 'We are pleased with progress
to date and hopeful of further significant discoveries within this well
mineralised project area. The project is considered by Condor as highly
prospective for multiple low tonnage, high grade mineralised structures. The
Company has now completed 2,728 metres of trenching on the Arras area, along
with 1,748 metres of drilling, and is about to embark on another 1,300 metres of
drilling and 1,000 metres of trenching. Only a small proportion of the known
gold mineralised rock chip occurrences have been tested by trenching or mine
adit sampling to date. The indication of high grade and already apparent
significant strike continuity to gold mineralisation, suggests that continuation
of the programme should result in several more high grade discoveries.'


Background


Rock chip sampling of outcropping quartz veins and dumps at the entrances to
historical mine adits and sample pits undertaken by the Company over the last
two years have identified over one hundred sites containing material grading
more than 1g/t gold on the contiguous San Albino-Murra and Potrerillos
concessions. These gold occurrences are spread over several mineralised zones
covering a total area of approximately fifteen kilometres by two kilometres.


A number of promising new prospects within a four kilometre radius of the Arras
Prospect have been identified from the initial results of an ongoing trench and
historical mine adit sampling programme. This programme is designed to test all
the high-grade rock chip gold occurrences for width and strike continuity. The
Arras Prospect, which was discovered through rock chip sampling and follow-up
trenching, has already returned significant drilling intersections in the first
round of drilling (RNS 'High Grade Results from Maiden Drilling at the Segovia
Project, Nicaragua' dated 18th December 2007). A second phase of reverse
circulation drilling is planned to start in the first week of March which will
test gold mineralisation up to 100 metres down-dip and a resource estimation is
planned to follow in March 2008.

Five separate prospects have been identified with significant mineralisation in
the initial trenches or in mine adit sampling (Tables 1 and 2). The most
advanced of these prospects is El Tambo where channel sampling the walls of two
historical adits has revealed mineralisation of up to 7 metres at 6.64g/t gold
with continuity in mineralisation over a strike length of 100 metres (Table 1).
The gold mineralisation is open along strike in both directions and has a
similar structural trend to the Company's Arras Prospect, which is situated
approximately one kilometre to the south.


Table 1: Significant Phase 1 adit sampling results from San Albino Licence,
within the Segovia Prospect area. Length Weighted Average Intercepts calculated
using 0.5g/t gold lower cut and allowing 1 metre internal waste. No top cut. The
inclusion of internal waste in measurements has the effect of reducing the gold
grade per tonne and providing an indicative gold grade more applicable to bulk
tonnage

recovery.

Trench ID  From (m)    To (m)    Width (m)     Gold Grade (g/t)  Prospect
POTN001            0         4             4              7.82   San Antonio
POTN003            0         7             7              6.64   El Tambo
POTN004           46        47             1              5.13   El Tambo



Table 2: Significant Phase 1 Trench Results from San Albino Licence, within the
Segovia Prospect area. Length Weighted Average Intercepts calculated using 0.5g/
t gold lower cut and allowing 1 metre internal waste. No top cut. The inclusion
of internal waste in measurements has the effect of reducing the gold grade per
tonne and providing an indicative gold grade more applicable to bulk tonnage

recovery.

Trench ID    From (m)    To (m)   Width (m)    Gold Grade (g/t)  Prospect
POTR006              9       10            1              1.77   Piedras Negras
                    14       15            1               1.2
                    17       18            1              7.95
POTR007              6        7            1              1.09   Piedras Negras
                    14       16            2              2.76
                    20       22            2             15.42
POCT001A           2.1     2.95         0.85              7.99   Potrerillos
POTR009             20       21            1              1.10   Potrerillos
SATR036             22       30            8              3.43   Las Conchitas
SATR038             13       14            1              3.02   Las Conchitas
                    16       17            1              6.00



Gold mineralisation in the San Albino area occurs in sulphide-bearing quartz
veins and veinlets in shallow to moderately dipping deformation zones within a
thick package of quartz-mica-graphite schist.


Qualified Person's Declaration


The information in this announcement that relates to Exploration Results is
based on information compiled by and reviewed by Nigel Ferguson, CEO, who is a
Member of the Australian Institute of Mining and Metallurgy and a geologist with
over 23 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 mineralization 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 report of the matters based
on his information in the form and context in which they appear and confirms
that this information is accurate and not false or misleading.


                                    - Ends -


Enquiries:

Condor Resources Plc           Mark Child, Chairman      Nigel Ferguson, CEO
                               [phone]          [phone]
Nabarro Wells & Co. Limited    Hugh Oram                 Robert Lo
                               [phone]          [phone]
Mirabaud Securities Limited    Rory Scott
                               [phone]
Parkgreen Communications       Simon Robinson            Erica Nelson
                               [phone]          [phone]



Chain of Custody

Condor enforces a strict chain of custody, with all field samples being
collected under the supervision of a qualified senior geologist. Samples are
sealed in larger bags and kept under lock and key until being delivered to CAS
Laboratories, Honduras for completion of final assay determinations. A total of
10% of samples returning significant assay results have their pulps forwarded to
BSI Inspectorate Laboratories, in Sparks, Nevada, USA for repeat assay
determinations as part of the Company's QAQC procedure.


Resource Calculation Notes

The reported tonnages and grades are in accordance with the guidelines and
recommendations of the JORC Code. Drill results are from both RC and diamond
drilling. Drill sample and trench sample assay determinations were carried out
by BSI Inspectorate of Nevada, USA. Gold determinations were by Fire Assay 30g
with Atomic Absorption finish; silver determinations were by wet chemical method
with an Atomic Absorption finish. Modelling was completed using Surpac Vision
5.2D Mining Software. Domaining was performed based on geological
interpretations and gold grade (0.4g/t gold bottom cut-off). Only mineralization
that showed continuity along strike of more than 2 sections was domained. Silver
results were analysed on the basis of the wireframes created to domain gold
samples. Ordinary Kriging was considered an appropriate method of estimation for
the dataset. Ordinary Kriging estimates were made for gold and silver, with
visual inspections of the grade estimate along with statistical analysis used to
validate the block model.


About Condor Resources Plc:

Condor Resources Plc was admitted to AIM on 31st May 2006 raising £4.9m. Condor
is a mineral exploration company focused on El Salvador and Nicaragua. The
Company has 100% ownership of four licenses in two project areas in El Salvador.
It withdrew from the El Potosi project in 2007. Condor also has four 100% owned
licences and the option to earn an 80% interest in a further four licences
contained within four project areas in Nicaragua.


An independent competent person's report prepared by Ravensgate and included in
the Company's Admission Document combined with a subsequent mineral resource
calculation statement in December 2006 reported Inferred Mineral Resources, as
defined by the JORC Code standard of some 467,104 oz gold and 18.4Moz silver
within two project areas in El Salvador. In January 2008 an independent
competent person's report prepared by Geosure on a mineral resource calculation
of 39,000 oz gold and 1.7 Moz silver at the El Gigante prospect raised the
combined global resource estimates to some 506,104 oz gold and 20.1 Moz silver
within two project areas. In February 2008 an independent competent person's
report prepared by Geosure on a mineral resource calculation of 312,800 oz gold
and 275,900 oz silver at the La Calera prospect and 40,700 oz gold and 2.1 Moz
silver oxide material at the El Divisidero prospect, has raised the combined
global resource estimates as defined by JORC Code standards to some 747,000 oz
gold and 22.3 Moz silver within two project areas.


The Company's objective is to prove up significant gold and silver resources of
between 1 to 2 million ounces of gold and 30 to 50 million ounces of silver to
JORC reportable standards by the 31st May 2008. The Company intends to continue
to drill test targets within its Project areas as required by each prospect.
Drilling is expected to commence in El Salvador upon granting of the necessary
Environmental Permits by the Ministry of Environment. Drilling currently
continues with two drill rigs on two projects areas in Nicaragua.




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