EL CONDOR ARRANGES PRIVATE PLACEMENT

El Condor Minerals Inc (“El Condor” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement in the capital of the Company (the “Offering”) for aggregate gross proceeds of up to $6,000,000. 

The Offering is comprised of up to 22,500,000 units (the “NFT Units”) at a price of $0.20 per NFT Unit and up to 6,000,000 flow through units (the “FT Units”) at a price of $0.25 per FT Unit.  Each NFT Unit will consist of one common share and one half of one share purchase warrant (a “NFT Warrant”).  Each NFT Warrant will entitle the holder to purchase one common share at a price of $0.30 per share for a period of one year from the closing of the Offering.  Each FT Unit will consist of one common share in the capital of the Company which will be designated as a flow-through share pursuant to the Income Tax Act (Canada) and one half of one share purchase warrant (a “FT Warrant”).  Each whole FT Warrant will entitle the holder to purchase one common share in the capital of the Company at a price of $0.35 per share for a period of one year from the closing of the Offering. 

Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.  All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The Company may pay finders’ fees on all or part of the Offering within the policies of the TSX Venture Exchange. 

The proceeds from the Offering will be used for the acquisition of the Horden Lake Property, to fund the exploration and development programs at Horden Lake, and for general working capital and corporate purposes.

About El Condor Minerals Inc.

El Condor Minerals Inc. is a minerals exploration company focused on the discovery and development 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 This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

FORWARD LOOKING STATEMENTS: This press release contains 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.