May 2010. Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information included in or incorporated by reference in this.

May 2010

Condor Resources Inc.CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information included in or incorporated by reference in this presentation, including information as to our future financial or operating performance and other statements that express management’s expectation or estimates of future performance, constitute “forward-looking statements”. All statements, other than statements of historical fact, are forward looking statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule”, and similar expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by us, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the currency markets; fluctuations in commodity prices; risks arising from holding derivative instruments (such as credit risk, market liquidity risk, and mark to market risk); changes in national and local government legislation, taxation, controls, regulations and political or economic developments in the countries we operate or other countries in which we do or may carry on business in the future; business opportunities that may be presented to, or pursued by, us; our ability to successfully integrate acquisitions; operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in our credit rating; and contests over title to properties, particularly title to undeveloped properties. In addition, there are risks and hazards associated with the business of exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. You are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this presentation are qualified by these cautionary statements. Specific reference is made to Condor’s prospectus on file with the Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

2

Company Highlights• Condor is focused exclusively on exploration in South America.

• Condor has an excellent portfolio of discovery stage properties, including six 100% owned projects in Chile, and seven projects in Peru, each offering a unique path to discovery.

• Chile and Peru are home to world-class mineral deposits and have progressive, pro-mining regulatory regimes.

• Condor has 728 sq km of land tied up in highly prospective underexplored areas of Chile and Peru.

• Condor maintains good relations with the communities in which it works.

3

Experienced Management TeamManagement

Patrick Burns, President & CEO, Director30 years experience in Latin America.Directly involved in the discovery of Escondida.

Ever Marquez Amado, VP ExplorationExploration geologist with a 19 year career in mineral exploration. Previously the Senior Regional Exploration Geologist at Newmont Peru Limited.

Graham H. Scott, Corporate Secretary & DirectorPrincipal of VECTOR Corporate Finance Lawyers.

John S. Watt, Chief Financial OfficerChartered Accountant with over 37 years of business experience.

DirectorsLyle Davis, Director

Paul Larkin, Director

Robert Boyd, Director

Technical Advisory Board

John E. RobinsPatrick GormanBrian FaganArt Soregaroli

4

Share StructureApril 30, 2010

Shares Outstanding: 47,884,496 Fully Diluted: 62,638,241 Working Capital: $3.2 million

Options: 3,085,000 Warrants: $0.40 warrants expire February 20, 2011 $0.10 warrants expire July 20, 2011

Fully Diluted Working Capital:

11,668,7456,148,0005,520,745

$7.4 million

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6

Pucamayo

• Discovery - high grade ‘bonanza-style’ gold-silver mineralization with channel samples returning values up to 86.6 (g/t) Au over 3 meters (m) and 5.85 g/t Au over 10m in the West Zone and up to 0.95 g/t Au and 343 g/t Ag over 5m in the East Zone.

• The size of the targets and the extensive anomalous gold and silver mineralization suggest potential for the discovery of one or several large gold-silver deposits.

• This new greenfields discovery on the Pucamayo property has never been previously sampled or drill tested.

• 42 sq km property located 180 km SE of Lima within the Central Andes Tertiary volcanic precious metals belt that hosts the multi-million ounce Yanacocha, Alto Chicama, and Pierina Au-Ag deposits.

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8

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Condor De Oro • 102 sq km in the Cordillera del Condor, host to the Kinross' Fruta del Norte gold

deposit (inferred reserves of 13.7M oz Au) one of the most significant remaining underexplored precious and base metals belts in the world.

• Condor’s property on the Peruvian side shares key geological features but has little modern day exploration and no prior drilling.

• Two large gold and base metal targets defined, with coincident geophysical, gold and multi-element rock, soil and stream sediment anomalies.

• Placer gold occurs in creeks within both target areas.

• Potential to host a multi-million ounce gold and base metal deposit.

"Reported reserves are inferred only, and from the websites and public documents of the Companies whose deposits are mentioned." 10

Cordillera del Condor Belt

11

$

$

2918

2045

3043

2851

1968

21192456

2641

Condor Resources Inc.

CONDOR DE ORO PROJECT

Projection: UTM Zone 17, Southern Hemisphere (WGS 84)

GEOCHEMISTRYGEOCHEMISTRYROCKS / SOILROCKS / SOIL

AU (PPB)AU (PPB)

Pucayacu

Yuracyacu

Condor de OroProperty

International Limit

Drainage

LEGEND

Contour Level

Banded Qtz-Py-Ccp-Gn-SphBanded Qtz-Py-Ccp-Gn-Sphvein structure,N160º/40ºNE,vein structure,N160º/40ºNE,<1m. Wide with Au-Ag-Cu-<1m. Wide with Au-Ag-Cu-

Pb-Zn mineralizationPb-Zn mineralization

Qtz-Ser-Py-Ccp-Cc-Cv-Bn diss. with Qtz-Ser-Py-Ccp-Cc-Cv-Bn diss. with stockwork Qtz-Py-Ccp-Cc-Cv-Bn stockwork Qtz-Py-Ccp-Cc-Cv-Bn

veinletsveinlets

Banded quartz vein structure Banded quartz vein structure >2m. wide , with base metals >2m. wide , with base metals

mineralizationmineralization

Banded quartz vein Banded quartz vein structure >10m. wide, structure >10m. wide,

with base metals with base metals mineralizationmineralization

Qtz-Ser-Ksphar-Py with intense Qtz-Ser-Ksphar-Py with intense stock work Qtz-Py-Cv-Sph-Ccp-Gnstock work Qtz-Py-Cv-Sph-Ccp-Gn

Banded quartz vein structure Banded quartz vein structure with base metals mineralizationwith base metals mineralization

KilometersKilometers

00 22

PERU

ECUADOR

Qtz-Chl-Ser-Py with stockwork Qz-Py

ROCK / SOILGEOCHEMISTRY

12

PERUPERUPERUPERUPERUPERUPERUPERUPERU

ECUADORECUADORECUADORECUADORECUADORECUADORECUADORECUADORECUADOR

Machala Belt

Machala Belt

Machala Belt

Machala Belt

Machala Belt

Machala Belt

Machala Belt

Machala Belt

Machala Belt

LINEAMENT

, CONTACT

FAULT

VEIN

INFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURAL

PHYLLICStockwork

ARGILLIC

PROPYLITIC

ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION

MAGNETIC BODY

GEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICS

Cor

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CONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECTCONDOR DE ORO PROJECT


Geophysic Magnetometry Survey Normalized Total Magnetic

Field Map

222222222

KilometersKilometersKilometersKilometersKilometersKilometersKilometersKilometersKilometers

000000000 111111111


00 22

BASE METALSBASE METALS MINERALIZATION MINERALIZATION

TARGETTARGET

GOLD - COPPER GOLD - COPPER MINERALIZATION MINERALIZATION

TARGETTARGET

Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu

YuracyacuYuracyacuYuracyacuYuracyacuYuracyacuYuracyacuYuracyacuYuracyacuYuracyacu

YanayacuYanayacuYanayacuYanayacuYanayacuYanayacuYanayacuYanayacuYanayacu

13




GEOCHEMISTRYGEOCHEMISTRYROCK & SOILROCK & SOIL

AU (PPB)AU (PPB)

PUCAYACU TARGETPUCAYACU TARGET

ROCK / SOILGEOCHEMISTRY

Banded Qtz-Py-Ccp-Gn-SphBanded Qtz-Py-Ccp-Gn-Sphvein structure,N160º/40ºNE,vein structure,N160º/40ºNE,<1m. Wide with Au-Ag-Cu-<1m. Wide with Au-Ag-Cu-

Pb-Zn mineralizationPb-Zn mineralizationQtz-Ser-Py-Ccp-Cc-Cv-BnQtz-Ser-Py-Ccp-Cc-Cv-Bn

diss. with stockwork diss. with stockwork Qtz-Py-Ccp-Cc-Cv-Bn Qtz-Py-Ccp-Cc-Cv-Bn

veinletsveinlets

Qtz-Chl-Ser-Py with stockwork Qz-Py

PERUECUADOR

Qtz-Ser-Clay-FeOx (Lm)Qtz-Ser-Clay-FeOx (Lm)With stockwork Qtz-FeOx (Lm)With stockwork Qtz-FeOx (Lm)

Pucayacu


00 11Condor de Oro

Property

International Limit

Drainage

LEGEND

Contour Level

PUCAYACUPUCAYACUGOLD - COPPER GOLD - COPPER

MINERALIZATION TARGETMINERALIZATION TARGET

14

Cor

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PERUPERUPERUPERUPERUPERUPERUPERUPERUECUADORECUADORECUADORECUADORECUADORECUADORECUADORECUADORECUADOR

LINEAMENT

, CONTACT

FAULT

VEIN

INFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURALINFILL & STRUCTURAL

MAGNETIC BODY

GEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICSGEOPHYSICS

ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION ALTERATION

PHYLLICStockwork

ARGILLIC

PROPYLITIC




PUCAYACU TARGETPUCAYACU TARGETGeophysic Magnetometry Survey

Normalized Total Magnetic Field MapKilometersKilometersKilometersKilometersKilometersKilometersKilometersKilometersKilometers

000000000 111111111

Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu Pucayacu GOLD - COPPER GOLD - COPPER MINERALIZATIOMINERALIZATIO

N TARGETN TARGET

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La Libertad• Porphyry Copper-Molybdenum target.

• Located 280 km NW of Lima and 80 km SW of the Antamina Deposit.

• Abundant surface oxide copper mineralization grading to more than 1% Cu and 0.3% Mo.

• Similar geology to the La Granja porphyry copper deposit (reserves of 3.2 billion tonnes grading 0.62% Cu).

• Drill ready.

• 100% owned. "Reported reserves are inferred only, and from the websites and public documents of the Companies whose deposits are mentioned."

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Structure N-S / 80 W , Structure N-S / 80 W , 0.50 m. wide Qz-Py 0.50 m. wide Qz-Py

Hbx Channel , Qz-Turmaline Hbx Channel , Qz-Turmaline matrix with Qz-Ser-Py clasts.matrix with Qz-Ser-Py clasts.

Leached cap with Leached cap with secondary secondary enrichment of Chalcosite enrichment of Chalcosite and malachiteand malachite

QzQz-Ser-Py-Cp-Mo diss -Ser-Py-Cp-Mo diss and stw. Qz-Py-Cp-Mo,and stw. Qz-Py-Cp-Mo,Chalcosite in fracturesChalcosite in fractures

SHEMUR CREEKSHEMUR CREEK

Porphyry Porphyry Copper and Copper and Molybdenum Molybdenum TargetTarget


GEOCHEMISTRYGEOCHEMISTRYCOPPER (PPM)COPPER (PPM)

Projection: UTM Zone 18, Southern Hemisphere (WGS84)

LA LIBERTADPROPERTY 200 Has.

LA LIBERTAD PROJECT

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Community Relations• Condor is committed to working with the local communities to complete its

exploration programs and develop sustainable projects for the future.

• Condor maintains close ties to the communities in which it works.

Meeting with local authorities Meeting with company personal

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Moving Forward – 2010 Exploration Plans

Pucamayo:Geophysics has been completed and additional prospecting, mapping and sampling areon going in preparation for a 3,000m to 5,000m drill program.

Condor de Oro: To conduct additional prospecting, sampling and mapping at Pucayacu in preparation for a Phase I drill program and define/delineate the large Yuracyacu Au and base metals target.

La Libertad: Geophysics has been completed. To prepare La Libertad for a First Phase drill program comprising 2,000 to 2,500m.

Joint Ventures:Chavin and Becker projects are currently subject to joint venture agreements and efforts are ongoing with several other properties.

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Thank you Contact Information

Head OfficeCondor Resources Inc.Suite 120, 601 West Cordova St.Vancouver, BC Canada, V6B 1G1

Phone: 604-642-5707Fax: 604-647-0107Toll Free: 1 [email protected]

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mailto:[email protected]

May 2010. Condor Resources Inc. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information included in or incorporated by reference in this.

Documents

forwardlooking statements

cautionary statements

business of exploration

statements of historical

mineral exploration

future performance

future business opportunities

credit risk