Condor Gold: Appointment of Canadian Based Non-Executive Director

LONDON, January 18, 2018 /PRNewswire/ --

Condor Gold (AIM: CNR; OTCQX: CNFGF; TSX: COG) is pleased to announce that Mr Andrew Cheatle has been appointed, with immediate effect, as a Non Executive Director of Condor Gold.

Mark Child, Chairman and Chief Executive Officer of Condor, commented:

"I am delighted that Andrew Cheatle has joined the Board. Following the dual listing on the TSX on 15^th January 2018, it is important to have a Canadian based Director to add gravitas and effect introductions in Canada. Andrew until recently held a high profile position as the Executive Director of Prospectors and Developers Association of Canada (PDAC), the trade body representing both exploration companies and producers. He has lived in Canada for 18 years and worked in senior positions at Goldcorp, AMEC plc, Treasury Metals, and Unigold Inc. I look forward to working with Andrew to enhance shareholder value and deliver on the strategy of permitting a new mine at Mina La India, Nicaragua and proving a substantially bigger gold district."

Andrew Cheatle (P.Geo., MBA, FGC, ARSM.) is a mining industry executive, professional geoscientist and graduate of the Royal School of Mines at Imperial College, London. His 30-plus-year, international career has encompassed both the senior and junior mining sectors as an exploration geologist, mine geologist, General Manager, Vice-President, Director, President and Chief Executive Officer.

Andrew was Executive Director of Prospectors and Developers Association of Canada (PDAC) from February 2015 to November 2017. He has worked for both large gold producers and junior exploration companies. Between 2000 and 2008 he worked as Chief Geologist at Goldcorp/ Placer Dome Inc's Musselwhite Mine, Ontario, Canada.  Between 2008 and 2009 he was Principal Geologist at AMEC plc based in Canada and in 2011 Vice-President Exploration at Treasury Metals. Between 2011 and 2015 he was President and CEO of Unigold Inc. and delivered a maiden 2 million ounce of gold mineral resource at the flagship property in the Dominican Republic. In his early career Andrew worked for 10 years for Anglo American Corporation at the Vaal Reefs Gold Mine in South Africa as a mineral resource manager and senior geologist. He will bring a range of expertise covering the mining industry and exceptional network in Canada to the Board of Condor.

Mr. Cheatle's education: BSc Hons - Geology, Royal School of Mines, Imperial College, University of London, 1985
MBA - Capella University, Minneapolis, USA. 2005

Affiliations: P.Geo., Association of Professional Geoscientists of Ontario. Fellow, Geological Society, London.

Andrew Mark Cheatle (aged 54) has held the following directorships and / or partnerships in the past 5 years:
Current: International Women in Mining C.I.C.
Past: Unigold Inc., Minexco Minerals.

Mr. Cheatle is eligible to be a Qualified Person under NI 43-101 (as defined below) by virtue of his professional affiliation, qualifications and experience.

Mr. Cheatle does not currently own any shares or warrants in the Company.  

There is no further information on Mr. Cheatle to be disclosed under Schedule Two, paragraph (g) (i) -(viii) of the AIM Rules for Companies.

About Condor Gold plc: 

Condor Gold plc was admitted to AIM on 31 May 2006. The Company is a gold exploration and development company with a focus on Central America.

Condor published a Pre-Feasibility Study ("PFS") on its wholly owned La India Project in Nicaragua in December 2014, as summarized in the Technical Report (as defined below). The PFS details an open pit gold mineral reserve in the Probable category of 6.9  million metric tonnes ("Mt") at 3.0 grams per tonne ("g/t") gold for 675,000 oz gold, producing 80,000 oz gold per annum for seven years. La India Project contains a mineral resource in the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz gold and a total mineral resource in the Inferred category of 8.5 Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral resource is inclusive of the mineral reserve.  

Disclaimer 

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

Technical Information 

The disclosure contained in this news release of a scientific or technical nature has been summarized or extracted from the technical report entitled "Technical Report on the La India Gold Project, Nicaragua, December 2014", dated November 13, 2017 with an effective date of December 21, 2014 (the "Technical Report"), prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Technical Report was prepared by or under the supervision of Tim Lucks, Principal Consultant (Geology & Project Management), Gabor Bacsfalusi, Principal Consultant (Mining), Benjamin Parsons, Principal Consultant (Resource Geology), each of SRK Consulting (UK) Limited, and Neil Lincoln of Lycopodium Minerals Canada Ltd., each of whom is an independent Qualified Person as such term is defined in NI 43-101.

Forward Looking Statements 

Certain statements in this news release constitute forward-looking information under applicable Canadian securities laws. These statements relate to future events or future performance and include, but are not limited to, estimates of mineral resources and mineral reserves, the Company's ability to enhance shareholder value and deliver on its strategy for the La India Project, and future gold production at the La India Project. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "objectives", "strategies", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws.  

For further information please visit http://www.condorgold.com or contact:

Condor Gold plc: Mark Child, Chairman and CEO, +44(0)20-7493-2784

Beaumont Cornish Limited: Roland Cornish and James Biddle, +44(0)20-7628-3396

Numis Securities Limited: John Prior and James Black, +44(0)20-7260-1000

Blytheweigh: Tim Blythe, Camilla Horsfall and Megan Ray, +44(0)20-7138-3204

SOURCE Condor Gold plc