Condor Gold: Attractive Feasibility Study for Fully Permitted Gold Project in Nicaragua

Condor Gold announced the feasibility study for the fully permitted La India open pit mine in Nicaragua. The study showed a probable mineral reserve of 7.3 million tons at 2.56 grams gold per ton for over 600,000 ounces gold and a mine with an internal rate of return of 23% and a net present value of US$86.9 million both after tax in the base case scenario at a gold price of US$1,600 per ounce. Condor Gold believes that with a high degree of certainty additional open pit and underground mineral resources can be converted to mineral reserves and included in the mine plan through further study.

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