EL CONDOR COMPLETES PRIVATE PLACEMENT FINANCING

El Condor Minerals Inc. (“El Condor” or the “Company”) is pleased to announce that it has completed the private placement of 11,666,667 flow-through units (“FT Units”) and 10,000,000 non-flow through units (“NFT Units”) of the Company for gross proceeds of $2, 750,000.  Each FT Unit is comprised of one flow through common share and one-half of one share purchase warrant (“FT Warrant”).  Each NFT Unit is comprised of one common share and one-half of one share purchase warrant (“NFT Warrant”). Each whole FT Warrant entitles the holder to acquire an additional common share at a price of $0.25 per share for a period of one year, and each whole NFT Warrant entitles the holder to acquire an additional common share at a price of $0.20 per share for a period of one year. 

The proceeds of the financing will be used for exploration and development work at the Horden Lake Copper Project in Quebec, and for general working capital and corporate purposes.  Finder’s fees of up to 8% cash totaling $159,860.39, plus 526,669 warrants to purchase common shares at a price of $0.25 per share for a period of one year and 633,600 warrants to purchase common shares at a price of $0.20 per share for a period of one year were paid on portions of the private placement.  All securities issued under the private placement are subject to a four month and one day hold period that expires March 29, 2012.

The Company also reports that final regulatory approvals for the private placement, the Horden Lake acquisition and the credit facility associated with Horden Lake were all obtained earlier this week.  The Company is working diligently toward the closing of the Horden Lake transaction, which it expects to complete early next week.

About El Condor Minerals Inc.

El Condor Minerals Inc. is a minerals exploration company focused on the discovery of large precious- and base-metal mineral systems in stable political jurisdictions.  Additional information on El Condor, its properties and exploration activities is available at the Company’s website: www.elcondorminerals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

“Leigh W. Freeman”

President & CEO

For information, please contact the Company at (604) 689-8336 or by e-mail at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements.  Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made.  The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.


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