Condor Resources Inc. · TSXV:CN
Condor Resources — Investor Presentation (March 2025)
35 slides from Condor Resources's investor presentation, March 2025
Slide 1: Unlocking Resources Building Futures
Unlocking Resources Building Futures PRECIOUS AND BASE METALS IN PERU Corporate Presentation March 2025 www.condorresources.com
Slide 2: Cautionary Statement
Cautionary Statement REGARDING FORWARD LOOKING STATEMENTS Caution Regarding Forward Looking Information: This document contains forward-looking statements or forward-looking information under applicable Canadian securities laws (hereinafter collectively referred to as “forward-looking statements”) c
Slide 3: Company Highlights
Condor Resources COMPANY HIGHLIGHTS • Condor Resources is a mineral exploration company of discovery-stage precious and base metals projects in Peru • Excellent track record of working with the communities in which we operate, advancing our projects with local partners and engaging with a high stand
Slide 4: Leadership Team
Leadership Team EXPERIENCED & LEAN CHRIS BUNCIC MBA CFA P.Eng EVER MARQUEZ GRAHAM H. SCOTT JONATHAN YOUNIE PRESIDENT & CEO VP EXPLORATION CORPORATE SECRETARY & CFO 20+ years of experience in mining and capital 30+ years as mineral exploration geologist. DIRECTOR Over 15 years accounting and finance
Slide 5: Share Structure
Share Structure As At January 1, 2025 Shares 141,154,808 Outstanding: Options: 7,452,500 $2 million Capital Warrants: nil June 2023 exercise of $0.15 Latest Structure warrants Financings Fully Diluted: 148,607,308 $1 million PP Working Capital $2.4 million @$0.075/unit June 2020 with $0.15 warrant $
Slide 6: Project Highlights
Condor Resources PROJECT HIGHLIGHTS PRIORITY: HIGHLY PROSPECTIVE PROJECTS Huiñac Punta PARTNERED: SIGNIFICANT PROJECTS OPTIONED TO PARTNERS COBREORCO & LUCERO Pucamayo Cobreorco Lucero TSXV: CN www.condorresources.com 5
Slide 7: Near-Term Objectives
Condor Resources NEAR-TERM OBJECTIVES • Advancing several facets for company growth: • Pucamayo South East: High/Intermediate-sulfidation epithermal gold and silver target on the Pucamayo property. Application for DIA in process with drill permit expected imminently • Huinac Punta: 1,500 m maiden dr
Slide 8: Pucamayo Project
Pucamayo Project GOLD, SILVER & COPPER EXPLORATION Collecting simples from an outcropping breccia at Pucamayo Este TSXV: CN www.condorresources.com 7
Slide 9: Pucamayo Este: An Active Mining District
Pucamayo Este An Active Mining District • The Pucamayo project is located 185 km SE of Lima at an elevation of 3800 to 4200 m, in the Tertiary volcanic belt that hosts several important epithermal gold deposits in Peru. • Pucamayo is about 56 kilometers south-southwest of Minera IRL Limited’s Corihu
Slide 10: Pucamayo Este Regional & Structural Setting Map
Pucamayo Este REGIONAL & STRUCTURAL SETTING MAP Corihuarmi Corihuarmi Au-Ag Au-Ag • Located within the REGIONAL STRUCTURAL structural control of a SETTING MAP caldera close to a number of other mineral resources within the boundary of the Andean Precious Metals Belt Pucamay AMAZONAS LEGEND o Project
Slide 11: Pucamayo Este Alteration Map
Pucamayo Este ALTERATION MAP Qz-Ser.-Ccp – Py diss. FeOx-CuOx Stockwork (Qz-Py-Cpy) Large Epithermal Pucamayo East Lithocap & Porphyry • Large 6 sq km lithocap Silica Alunita with alteration at surface Patch textures • High to intermediate Hbx. Vuggy silica, granular silica clasts sulfidation at out
Slide 12: Epithermal Mineralisation Confirmed in Prior Drilling
Pucamayo Este NW SE EPITHERMAL MINERALISATION CONFIRMED IN PRIOR DRILLING ALTERATION SECTION 200 LOOK NE 20.00 mt @ 0.27 gr/t Au ; 33.7 gr/t Ag ; 0.26% Cu; 0.26% Pb; 1.06 AuEq gr/t 52.20m @ 0.2 gr/t Au; 19.8 gr/t Ag; 0.19 % Pb 0.15 % Zn ; Qz-Chl-Cbs PUC-E-005 AuEq 0.53 gr/t Au • The 2023 drilling pr
Slide 13: Targeting Tabular Shallow Chargeability IP Anomaly
Pucamayo Este TARGETING TABULAR SHALLOW CHARGEABILITY IP ANOMOLY Shallow epithermal target at Pucamayo SE TSXV: CN www.condorresources.com 12
Slide 14: Expanding Drill-Permitted Area to South East
Pucamayo Este EXPANDING DRILL-PERMITED AREA TO SOUTH EAST Silica Alunita with Patch textures Hbx. Vuggy silica, granular silica clasts Granular Silica vent Under new DIA application LEGEND DDH Traces Hydrothermal breccia with massive Silica, DDH Drilled vuggy silica , silica alunite clasts with 2023
Slide 15: Lithogeochemistry Prospective Over Broad Area
Pucamayo Este LITHOGEOCHEMISTRY PROSPECTIVE OVER BROAD AREA Wide area of gold in samples Arsenic helpful in vectoring gold targets • Target area sampled with 50 to 200 ppb gold in breccias on the SE target along the south margin and 10 to 50 ppb Au in granular silica in the central part of the SE ta
Slide 16: Yanacocha Is the Model for Pucamayo
Pucamayo Este SE Target YANACOCHA IS THE MODEL FOR PUCAMAYO • A section from Yanacocha that highlights the concept of testing below barren granular silica caps in the silicified alunite alteration areas • Granular silica caps above ore have low gold values, often below 100 ppb Au • At Yanacocha (5.5
Slide 17: Geophysics & 2024 Drill Targets
Pucamayo Este SE Target GEOPHYSICS & 2024 DRILL TARGETS Low Resistivity & High Chargeability Targets at shallow depths in the South East target area TSXV: CN www.condorresources.com 16
Slide 18: Huiñac Punta Project
Huiñac Punta Project HIGH-GRADE Ag POLYMETALLIC IN CRD Panoramic view, showing the outcropping CRD system at elevation and to the east TSXV: CN www.condorresources.com 17
Slide 19: Huiñac Punta: Bonanza Grade Silver in a CRD Setting
Huiñac Punta BONANZA GRADE SILVER IN A CRD SETTING • The Huiñac Punta project is located in the carbonate sediment host belt, which hosts Mesozoic polymetallic mineral deposits in north-central Peru. • Huinac Punta is about 65 km southeast of the BHP/Glencore’s Antamina mine, 30km southeast of Korea
Slide 20: Huiñac Punta: Bonanza Grade Silver in a CRD Setting
Huiñac Punta BONANZA GRADE SILVER IN A CRD SETTING • Silver/Copper/Zinc in Carbonate Replacement (CRD) type skarn target system located on the eastern flank of the Mesozoic polymetallic carbonate sediment host belt in north-central Peru. • Sampling: Of 163 - 2m long rock chip samples collected, 28 r
Slide 21: Huiñac Punta: Ready To Drill
Huiñac Punta BONANZA GRADE SILVER IN CRD SETTING Interpretation of the IP geophysical studies highlight large (~1km wide) vertical resistivity and chargeability anomalies coincident with grab and chip surface samples with strong Ag values • Community access and land access agreements in place Ready
Slide 22: Cobreorco Project
Cobreorco Project Cu – Au PORPHYRY/SKARN SYSTEM Panoramic view, showing the porphyry target and massive magnetite-FeOx outcrops TSXV: CN www.condorresources.com 21
Slide 23: Cobreorco Project: Cu-Au Porphyry-Skarn
Cobreorco Project Cu-Au PORPHYRY-SKARN • The Cobreorco project is a 50 km2 package in south-central Peru in the Department of Apurimac at ~4100m elevation • Same mineral belt and age as Las Bambas mine which is ~100km due east, Southern Copper’s Los Chancas mine is ~50km due east, and Coppernico’s S
Slide 24: Cobreorco Project: Cu-Ag Porphyry-Skarn
Cobreorco Project Cu-Ag PORPHYRY-SKARN • Optioned to Teck Resources earlier in 2024; DIA expected early Q4/24 • Cobreorco presents as a typical porphyry/skarn system with large massive magnetite, calcosilicate assemblages and an outcropping of potassic porphyry. • A small sampling program in 2019: •
Slide 25: Cobreorco Drone Magnetic Survey
Cobreorco Project Cu-Ag PORPHYRY-SKARN Evaluation of drone supported magnetic survey suggests 2 potential intrusive systems that correlate well with exposed gold/copper porphyry and skarn outcrops Glencore’s historic Tintaya mine and Coroccohuayco project in Peru are comparable skarn-porphyry copper
Slide 26: Cobreorco North Target
Cobreorco Project Cu-Ag PORPHYRY-SKARN The North Target includes a clear outcrop of porphyry mineralization directly adjacent to massive magnetite-FeOx outcrops. Magnetometry highlights the anomalies’ scale in both breadth and depth >1km TSXV: CN www.condorresources.com 25
Slide 27: Cobreorco South Target
Cobreorco Project Cu-Ag PORPHYRY-SKARN The South Target = a textbook mineralized skarn halo, high in magnetite, surrounding a porphyry intrusive Visible outcrops of skarn material at surface, also of substantial scale. TSXV: CN www.condorresources.com 26
Slide 28: Cobreorco Option to Teck Resources
Cobreorco Project Cu-Ag PORPHYRY-SKARN • In December 2023, Condor optioned Cobreorco to Teck Resources (TECK, TECK-B.T) under an Option to earn into a 75% interest in the project: • First Option: earn a 55% interest over three years by completing US$4 million in exploration expenditures and making c
Slide 29: Responsibility at Condor
Responsibility at Condor COLLABORATION & PARTNERSHIP WITH COMMUNITIES Condor's community relations team has an extensive history of and experience with interacting with local communities in much of Peru, making a difference. Our team speaks Quechua, and excels at advancing our relationships with com
Slide 30: Thank You
THANK YOU Any questions? Feel Free to Contact Head Office: 800 W. Pender Street, Suite 615, Vancouver, BC V6C 2V6 +1 (604) 642 5707 info@condorresources.com www.condorresources.com Lima Office: Av. Javier Prado Este No. 1184, Office 302, San Isidro, Lima 27, Peru
Slide 31: Appendix
APPENDIX TSXV: CN www.condorresources.com 30
Slide 32: Project Highlights: Other Selectively Staked Projects
Condor Resources PROJECT HIGHLIGHTS PROSPECTIVE: OTHER SELECTIVELY STAKED PROJECTS Chavin Soledad Quriurqu Rio Bravo Humaya San Martin Andrea Quilisane TSXV: CN www.condorresources.com 31
Slide 33: Rio Bravo Project
Rio Bravo Project Cu-Mo PORPHYRY • 100% owned, 20 km2 project located in the in the Tauripampa District ~112 km southeast of Lima at elevations between 2,000 and 2,300 m. • Formerly known as the Cerro Grande Cu-Mo Porphyry Project and was explored by Vale in 2011. • Public documents show Vale comple
Slide 34: Andrea Project
Andrea Project HIGH-SULFIDATION EPITHERMAL TARGET • A high sulphidation epithermal type gold-silver target, hosted in Tertiary volcanics, dating from the Miocene-Pliocene age. • 100% owned, 22 km2 project, approximately 480 km south-east of Lima in the south-central Andes, at elevations ranging from
Slide 35: Lucero Project
Lucero Project LOW-SULPHIDATION EPITHERMAL Au-Ag • The Lucero Property is a 67 km2 package 100% owned located in the Chila Range of southern Peru, is approximately 130 kms northwest of the city of Arequipa and 600 kms southeast of Lima. The property is in the Chachas District, Castilla Province of t
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