CONDOR RES (CNRIF) Stock News

Condor Resources (OTC:CNRIF) agreed with Element79 Gold on restructured payment terms for the Lucero project in Peru, documented in a Fourth Amendment to the 2020 Purchase and Sale Agreement. Element79, via Calipuy Resources, is acquiring Minas Lucero del Sur, which owns Lucero.

Element79 will cure an overdue US$1,100,000 payment due June 30, 2025 through a US$100,000 non‑refundable deposit on signing and US$1,000,000 at closing, targeted for August 25, 2026. Remaining consideration will be either US$4,050,000 by July 31, 2027 (Plan A) or milestone‑linked payments totaling US$6,000,000 with outside dates in 2028, 2029, 2031 and 2033 (Plan B).

The existing share pledge over MLDS in Condor’s favour remains in place securing all obligations. Closing is subject to receipt of the deposit and closing balance, corporate authorizations and regulatory approvals.

Condor Resources (CNRIF) announced a 3,500 metre, six‑hole diamond drilling program at its Cobreorco copper-gold project in Apurímac, Peru, under its option and joint venture with Teck Perú.

Two rigs will start drilling from June 2026, targeting a copper-gold skarn and porphyry system, with first assay results expected in early August 2026.

Cobreorco covers about 5,100 hectares in the Southern Peru Eocene Belt and is viewed by management as a significant discovery opportunity.

Condor Resources (OTC: CNRIF) announced receipt of the Initiation of Activities (IA) permit for its Cobreorco copper-gold project in Apurímac, Peru, clearing the way for exploration drilling.

Teck Perú will commence a 3,500-metre diamond drill program in June 2026 (six priority holes). The project has an approved DIA (June 2025), a water permit from ANA, extensive 2025 geophysical work, and option terms allowing Teck Perú to earn up to 75% interest through staged expenditures and cash payments.

Condor Resources (CNRIF) closed the sale of its Soledad project in Ancash, Peru to Compañía Minera Lincuna for US$3,000,000.

Payments: US$100,000 paid on LOI, US$500,000 paid on closing, and US$2,400,000 in twelve quarterly payments of US$200,000 over three years. A Cesión Minera lets the purchaser begin exploration immediately. Upon full exercise of the option, Condor Peru will receive a 1% NSR royalty; Lincuna assumed an existing 1% NSR payable to Chakana Resources.

Management says proceeds will strengthen the balance sheet while Condor focuses on other Peruvian exploration targets.

Condor Resources (TSXV:CN) has announced that its Peruvian subsidiary has entered into a non-binding Letter of Intent to sell its Soledad project in Ancash, Peru to a Peruvian company. The total consideration for the sale is US$3 million, to be paid over 36 months, including an initial deposit of US$100,000, US$500,000 upon definitive agreement execution, and US$2.4 million in quarterly payments.

Upon completion, Condor will retain a 1% Net Smelter Returns (NSR) royalty. The purchaser will have a 75-day exclusivity period for due diligence and will be able to commence exploration activities immediately through a Cesión Minera agreement. The company plans to focus on advancing exploration at its Pucamayo and Huinac Punta projects.

Condor Resources (CNRIF) has announced two key equity compensation grants. First, the company granted 2,000,000 performance share units (PSUs) to a holding company controlled by CEO Chris Buncic, which will vest through April 10, 2027, subject to performance criteria. Additionally, Condor granted stock options to various stakeholders: 2,500,000 shares at $0.20 and 500,000 shares at $0.12, both exercisable until June 17, 2030. These grants are subject to regulatory approval and vesting provisions under the company's Omnibus Equity Incentive Plan.

Condor Resources has received approval for the Declaración de Impacto Ambiental (DIA) from Peru's Ministry of Energy and Mines for its Cobreorco gold-copper project. The project is being advanced through permitting by Teck Resources Limited under an option and joint venture agreement signed in December 2023. Teck can earn a 55% interest by spending US$4 million in exploration and paying US$500,000 over three years. Teck has the option to increase its stake to 75% with an additional US$6 million in exploration spending and US$600,000 in cash payments. The Cobreorco project targets gold-copper skarn and porphyry-style mineralization.

Condor Resources (CNRIF) has completed a non-brokered private placement offering, raising C$1,051,000 through the issuance of 8,758,333 units at C$0.12 per unit. Each unit consists of one common share and one-half share purchase warrant. The warrants are exercisable for 36 months at C$0.15 per share for the first 24 months and C$0.20 thereafter. Crescat Portfolio Management and company directors participated, subscribing for 4,592,834 units (C$551,140). The proceeds will fund exploration at the Huinac Punta and Pucamayo Projects. The company paid C$16,496 in finder's fees and issued 137,466 finder's warrants. A Right of Participation Agreement was established with Crescat for future equity financings.

Condor Resources (TSXV:CN) has announced that strategic investor Crescat Capital will participate in the company's LIFE Offering Private Placement of up to $1.5 million. Crescat will subscribe for $500,000 through Crescat Portfolio Management on behalf of its Pooled Investment Funds.

The net proceeds will be used for exploration at the Huinac Punta Project, the Pucamayo Project, and general corporate purposes. Company insiders will also subscribe for a significant portion of the placement.

Kevin Smith, Crescat Capital's Founder and CEO, expressed confidence in Condor's technical expertise and highlighted Peru's potential for high-grade epithermal gold systems, citing examples like Yanacocha and Pierina mines.