Director/PDMR Shareholding

RNS Number : 9923T

Condor Resources PLC

07 October 2010

 

 Thursday 7^th October 2010

Condor Resources Plc

(''Condor'' or ''the Group'')

Notification of Share Sale

Condor (AIM: CNR), the Central American gold exploration company, has been notified that Jim Mellon ^(*) sold 5,600,000 ordinary shares of 1p each in the capital of the Company on 4^th October 2010.

Following this transaction, Jim Mellon remains beneficially interested in 49,400,000 Ordinary Shares, representing 10.47 per cent of the Company.

^(*) These shares are held in the name of Galloway Limited and Burnbrae Limited.

Ends

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

Condor Resources plc           Mark Child, Chairman

[phone]

Ambrian Partners Limited       Richard Swindells and Samantha Harrison

[phone]

Farm Street Media                  Simon Robinson

[phone]

About Condor Resources Plc:

Condor Resources plc is an AIM listed exploration company focused on developing natural resource projects in Central America. The Company was admitted to AIM on 31st May 2006 with the stated strategy to prove up JORC Resources in Nicaragua and El Salvador. Condor has eight 100% owned licenses contained within four project areas in Nicaragua. In El Salvador, Condor has 100% ownership of four licences in two project areas.

Since Admission to AIM, Condor has increased its JORC compliant inferred resources from 350,000 ounces of gold and 18 million ounces of silver to 788,000 ounces of gold and 22 million ounces of silver. The Resource calculations are compiled by independent geologists Ravensgate and Geosure. As announced on 30 September 2010 Condor's net cash position was circa £426,000 at the 30^th June 2010. Condor also owns approximately £1,496,000 worth of shares in Grafton Resources investments Limited as a result of a share exchange approved by shareholders at an AGM on 12th June 2009. 

 

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