CN Condor Resources Inc

Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to
announce that its Chilean subsidiary, Minera Condor Limitada, has completed a
definitive agreement (the "Agreement") with BHP Billiton regarding Condor's 46
sq km Cristal project in northern Chile. Cristal is near the Peruvian border and
is located along the West Fissure fault system, host to the majority of Chile's
large porphyry copper deposits, including the nearby Collahuasi, Ujina and
Quebrada Blanca porphyry copper mines.


Under the Agreement, BHP Billiton have an exclusive option to earn 65% ownership
of a joint stock company created to hold the Cristal concessions by completing
cumulative exploration expenditures of US$18.0 million over four years, with
defined minimum annual work expenditures. The Agreement stipulates a mandatory
first year work commitment of US$500,000, which includes an initial cash payment
of US$60,000. 


BHP Billiton have the option to extend the initial earn-in period by one year by
making a one time cash payment of US$300,000. 


Upon earning their initial 65% interest, BHP Billiton have the additional option
to increase their ownership in the joint stock company to 75%. In order to
exercise the second option, BHP Billiton are required to complete a further
US$7.0 million in exploration at Cristal (for a cumulative exploration
expenditure of US$25.0 million) within two years of acquiring their 65%
ownership. 


BHP Billiton, at their option, may satisfy any or all of the US$25.0 million
exploration expenditure commitments by making cash payments to Minera Condor
Limitada in lieu thereof. 


Patrick Burns, President and CEO of Condor said, "We are very pleased to
conclude this Agreement with BHP Billiton, and are delighted that they will be
committing their significant exploration, development and operating expertise to
Cristal. We have always believed in the potential of this project, and we feel
this Agreement validates our belief." 


Condor Resources Inc. was incorporated in 2003 by field exploration specialists
focused on the generation of precious and base metals projects in South America,
where management has extensive experience and a proven track record of
discovery. The Company's long term objective is the discovery of a major new
precious/base metals deposit and its business plan offers shareholders access to
an exciting portfolio of fifteen properties in Peru and Chile, each offering a
unique path to discovery.


ON BEHALF OF THE BOARD

Patrick J. Burns, President & Chief Executive Officer

Cautionary Statement Regarding Forward-Looking Information: All statements,
trend analysis and other information contained in this press release relative to
markets about anticipated future events or results constitute forward-looking
statements. Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar expressions.
Forward-looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations to
differ materially from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of management at
the date the statements are made. The Corporation does not undertake any
obligation to update forward-looking statements even if circumstances or
management's estimates or opinions should change. Investors should not place
undue reliance on forward-looking statements.

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