LONDON, November 15, 2017 /PRNewswire/ --
Condor Gold ('Condor', 'Condor Gold' or 'the Company') (AIM:
CNR; OTCQX: CNDGF) is pleased to announce the appointment of Mr
Jeffrey Karoly as Chief Financial
Officer with immediate effect. Mr Karoly is a Chartered Accountant
with over 20 years' experience in the mining industry.
Mark Child, Chairman and CEO
comments:
"I am delighted that Mr Karoly has joined Condor Gold as Chief
Financial Officer. Mr Karoly has extensive experience at CFO-level
in listed companies, with a particular focus on South America since spending time there with
Anglo American."
"Furthermore, he has first-hand experience of listing on the TSX
and maintaining AIM / TSX dual listings. He strengthens the
leadership team as Condor continues its plan to develop its 100 per
cent-held La India Project through permitting and towards
construction, expand the current mineral resource and prove a major
Gold District."
Background
Jeffrey Karoly is a Chartered
Accountant with a degree in Geology from the University of
Bristol. He has worked in the
mining sector for over 20 years including 11 years in corporate
finance roles with Anglo American on
three continents. Since 2008 he has been Chief Financial Officer of
several listed junior resource companies including South American
Ferro Metals, listed on the ASX in
2010, AIM & TSX-listed Horizonte Minerals (AIM / TSX: HZM)
(2010 to 2016). In 2017 Mr Karoly listed Altus Strategies plc on
AIM (AIM: ALS) and he is also Chief Financial Officer of Rupert
Resources, listed on the TSX-V (TSX-V: RUP).
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31st 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 Mt at 3.0 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 titled "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 by
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.
David Crawford, Chief Technical
Officer of the Company and a Qualified Person as defined by NI
43-101, has approved the written disclosure in this press
release.
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
development plans at 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, Executive 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)20-71383204
