Reporte de Corona Project, Richard Culbert

TECHNICAL REPORT FOR
SAMPLING AND EVALUATION
OF THE CORONA PROPERTY
COMBARBALA AREA, CHILE
AN IRON OXIDE - COPPER - GOLD PROSPECT
FOR: CONDOR RESOURCES INCORPORATED
By : Richard Culbert, Ph.D., P.Eng.
Field Work: July, 2004
Report Dated: November 16th, 2005

CORONA PROPERTY: CONDOR RESOURCES INC.
TABLE OF CONTENTS Page
SUMMARY 3
INTRODUCTION AND TERMS OF REFERENCE 5
DISCLAIMER 5
PROPERTY DESCRIPTION AND LOCATION 5
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES,
INFRASTRUCTURE AND PHYSIOGRAPHY 7
HISTORY 9
GEOLOGICAL SETTING 9
DEPOSIT TYPES 11
EXPLORATION 11
SAMPLING METHOD AND APPROACH 15
SAMPLE PREPARATION, ANALYSES AND SECURITY 15
ADJACENT PROPERTIES 15
INTERPRETATION AND CONCLUSIONS 16
RECOMMENDATIONS 18
BIBLIOGRAPHY 20
CERTIFICATE 21
ILLUSTRATIONS
Figure 1 Location Map 4
Figure 2 Property Topography and Layout 6
Figure 3 Property Geology 8
Figure 4 Rock Sample Sites and Values 12
Figure 5 Sediment Sample Sites and Values 13
Figure 6 Southern Claim 14
APPENDIX I SAMPLE DESCRIPTIONS AND ANOMALIES
APPENDIX II RESULTS OF GEOCHEMICAL ANALYSES
2
SUMMARY
The Corona Property is comprised of a contiguous block of five claims covering 15

square kilometers, with a three square kilometer claim situated three kilometers farther
south. It is located northwest of the town of Combarbala, some 270 kilometers north of
Santiago.
The property was staked by Condor Resources Inc. to cover a major portion of a large
epithermal alteration zone. The north-south elongation of the claim block reflects partial
control by faults associated with a regional graben behind the coastal ranges of north-
central Chile. The southern sectors of the alteration exhibit massive, fine silica, cut by
large fracture zones with silica-hematite matrix breccias. The larger and more interesting
northern sector of the property features swaths of similar silica-hematite and major zones
of iron oxide kaolin within a regional alteration of a style known locally as
combarbalite. This is a complex mixture of minerals dominated by a sodic alunite, and
is named for the nearby town of Combarbala where it is quarried for its color and carving
properties in the tourist trade. The alteration zone is surrounded by many small copper
oxide and vein gold workings. The western lobe of the alteration is held by the
government department ENAMI for kaolin mining, and the property is flanked on the
east by a reservoir, with alteration extending beyond.
In order to evaluate the Corona Property, the author roughly mapped the area and
collected 59 wash sediment and 56 rock composites, which were analyzed for gold and
41 other elements. Such gold anomalies as were returned are associated with known vein
and copper oxide workings peripheral to the alteration, and the property is not considered
to be a target for epithermal gold exploration.
On the other hand, there are several characteristics of both the site and the geochemistry
that suggest that Corona is a viable target for iron oxide-copper-gold (IOCG) deposits. A
modest program to map and evaluate a central sector of the property is recommended. Its
objective is to clarify the IOCG characteristics to the extent that one of the larger
companies exploring for this style of deposit in Chile would find it attractive to option the
property and carry out the geophysical surveys required to develop drill targets for this
valuable but compact, and often blind, style of mineralization. A one month program at
an estimated cost of $US 46,000 is recommended.
3
71
La Serena Ro
a dt
o El Ind
30 io SOUTH
PROPERTY
SOUTH
AMERICA
AMERICA
X Andacollo PROPERTY
y
hwa
Hig
CHILE
ican
CHILE
mer
SANTIAGO
a
OVALLE
Pan
SANTIAGO
CORONA
Punitaqui X
PROPERTY
70
31
X Combarbala
PACIFIC
ARGENTINA
Illapel
OCEAN X
C H I L E
32
X El Bronce
0 25 50
Kilometres
X El Soldado
Inte
rna
CONDOR RESOURCES INC.
t io n
Hig al
h wa
y CORONA PROPERTY
CHILE
LOCATION MAP, WITH
X Valparaiso SITES DISCUSSED IN TEXT
Date: Aug, 2004 Figure No. 1
4
INTRODUCTION AND TERMS OF REFERENCE
This report is based on eight days of sampling and field observations by the writer,
carried out in July of 2004. It has been prepared for Condor Resources Incorporated at
the request of its President, Mr. Patrick Burns. The purpose of this effort has been to
carry out an initial evaluation of the Corona Property, which had been staked to cover
parts of a regional hydrothermal alteration zone, and to present this information in
appropriate form for the initial public offering of Condor Resources.
DISCLAIMER
What little is recorded of the history of this property was obtained in discussion with Sr.
Edmundo Hernandez in Santiago. Edmundo was involved in sampling much of the area
some years ago when working for Homestake Mining Company. None of those analyses
are available, however, and the authors interpretation of the geology differs from that of
Sr. Hernandez. Regional geology and data on nearby deposits was obtained from
published sources listed in the Bibliography. Local geology and sampling are by the
author.
PROPERTY DESCRIPTION AND LOCATION
The Corona Property is comprised of six claims or pedimentos, each measuring one
kilometer by three kilometers for a total of 18 square kilometers. They are named Corona
I to Corona VI, and registered to Patrick Burns. Four of the claims are contiguous, and
the fifth lies three kilometers to the south. (Figure 2).
The property is located approximately 270 kilometers north of Santiago and 10

kilometers north and west of the town of Combarbala. It lies between 31 deg 2 and 31
deg.10 south latitude and between 71 deg. 4 and 71 deg. 7 west longitude. UTM co-
ordinates employed are based on the South American 56 datum, as this is the one used
to defined properties in Chile.
The property is comprised of six exploration permits (pedimentos), all held 100% by
Minera Condor S.A., a Chilean subsidiary of Condor Resources Limited. Each was
created on March 23, 2004, except for Condor VI, which dates from the 2nd of March,
2005. Within two years of these dates, the claims must either be converted to an
exploitation license, or reduced to half of the present size and continue as exploration
permits.
5
98
04
08
99
01
02
03
05
06
07
300
800
677
700
La Cienaga
Cogoti
820
815
Reservoir
ada
64
ebr
AD
Qu
OR
L
CO
a
N
Coip
1112
La
674
da
822
ebra
934
Qu
GE
RID
ON
758
RD
CO
62 970
Co.
ADO
Colorado
758
To LOR Co.
La Colorada
CO
Punitaqui 1220 La Peste

742
Co. 972
El Macho
Co. Botija 873
1265
00 923
12
6560
00
0
110
1032
10
Co.
Co. Negro Colorado
1176
0
0
70
862
80
0
90
Co.
La Campana
1170 1152
58 1073
Cerro Co.
Blanco Negro
1095 1346
13
00
12
00
R
IO
1312
11
918
90
PO
904
0
1024
0
0
10
00
WE
56
RL
INE
R I O
1230
C
Co. Colorado O
M
B A R B A L A
865 1044
54
Co.
P A M A
La Dura
1118
1012
949
LOMA
LA Kilometres
VARILLUDA Co.
1040 La Bandera
971

868
1145 CORONA PROPERTY, CHILE

To
Combarbala
PROPERTY TOPOGRAPHY
AND LAYOUT
6
ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND

PHYSIOGRAPHY.
The town of Combarbala is a four to five hour drive on paved roads from Santiago. An
unpaved road (labeled D-605) connects this town with the village of Punitaqui to the
north. This road crosses the southernmost claim and then runs within a few kilometers to
the west of the main claim block. Secondary jeep tracks reach almost to the edge of the
property between Cerros Blanco and La Campana and to the north of Cerro Colorado.
There is also a rough road which skirts the north end of the claims. Horses were found
useful in reaching the less accessible parts of the property.
The main claim block covers a moderately rugged area whose highest point is Cerro
Botija at 1220 meters and whose lowest elevations lie to the east along the Pama River
and Cogoti Reservoir at roughly 700 meters. The climate is semi-arid, with temperatures
rising into the 30s on warmer days, and falling below freezing occasionally on winter
nights.
There are few trees on the property, the tallest and most common vegetation being the
Quisco Cactus ( Echinopsis chilensis ) which can reach to seven meters. There are a
variety of shrubs and bushes dispersed over the area, the most common, and least
welcome, being litre (Lithrea caustica) a large bush to which many people have a reaction
similar to the effects of poison oak. Native wildlife other than birds were not
encountered, and have likely been extirpated. A few wild burros, and untended goats
were the only mammals of any size evident. In view of the widespread mining which has
taken place in the area, there are not likely to be any environmental concerns with respect
to vegetation or wildlife. On the other hand, the proximity to the Cogoti Reservoir, used
for both irrigation and drinking water, will be of concern in planning any large mining or
milling projects within the present property boundaries.
Two small villages of Soruco and El Sauce lie along the road immediately west of the
main claim block, and two power lines also follow this road, crossing the southernmost
claim. Only rudimentary items would be available at these villages, but most food and
hardware supplies may be obtained in Combarbala. In increasing size, the city of Ovalle
is accessible by paved road in two hours to the north, and Santiago itself is about twice
that to the south. Cogoti Reservoir and Pama River near the propertys eastern edge are
the obvious sources of water. The area has a long tradition of mining, and labour with
relevant expertise is available.
7
01
02
03
04
05
98
99
300
66
naga
Cogoti
La Cie
Reservoir
FPA N
65
Cobbles
FPA
Cordon
K
K 64
oipa
FPA
La C
K 63
Co
lor
ge
ad
id
R
o
o
kaolin
ad
or
mine
ol
C
FPA
K 62
K
Cerro
Colorado FPA
K
To
Punitaqui
FPA
61
Cerro
Flats No O.C.
El Botija
K
BAR BALA
Sauce FPA
K K
Ri
d ge
6560
M
CO
RIO
PO
59
WE
RL
INE
quartzites
15
Cretaceous FS
Volcanics 58
Cerro
Blanco 0 1 2
Kilometres
Suroco LEGEND
57
To
FS Massive,fine silica, with hematitic
Combarbala
fracture and breccia zones
FS Heterogeneous "combarbalitic" alteration

with many silica, kaolin and hematitic systems
Observed zone of fine silica,
typically with hematitic breccias 56
CORONA PROPERTY, CHILE
K Observed zone of kaolinization,
typically with limonite sericite and shearing
PROPERTY GEOLOGY FPA Massive feldspar porphyry andesite.
A San Lorenzo intrusive?
8
HISTORY
This entire region has been searched by local miners for surface occurrences of copper
oxides or gold veins, and several of their small workings lie within or adjacent to the
present property. As far as the author is aware, the first staking of this part of the
alteration zone by a major company was by the Chilean branch of Homestake Mining
Company. Shortly thereafter, Homestake was taken over by Barrick Gold Corporation,
and its Chilean office closed. Sr. Edmundo Hernandez, the chief geologist for that office,
restaked and maintained claims here for some years thereafter. Representatives of Rio
Tinto are also known to have sampled in the region.
GEOLOGICAL SETTING
The Corona Property falls on the Illapel 1:250,000 scale mapsheet, whose geology was
mapped for the government by Rivano and Sepulveda (1991). This work shows that the
property lies almost entirely over a large zone of hydrothermal alteration, within lower
Cretaceous strata adjacent to a large area of plutonic rocks belonging to the Cretaceous
Calanga Group, which are mainly granodiorites and quartz diorites. On the northwest
border of the altered area there is also a plug assigned to the Cretaceous--Paleocene aged
San Lorenzo Group intrusions, which tend to be porphyries of andesitic composition.
The map defines the regional Cretaceous strata of this area as the Quebrada Marquesa
Formation of mixed marine and continental origin. They are mainly argillites, siltstones
and sandstones, often calcareous, but volcanic and conglomeritic units are also involved.
This is underlain by the Arqueros Formation of similar age, dominated by flows and
breccias of andesitic composition. These two Cretaceous units correspond to the Chilcas
Formation farther south in the Santiago area, and that name is used here also by some
authors, for example Alvarez and De Gramont, 1992. One small area of quartzites were
the only metasediments observed within the property, and the Cretaceous elsewhere is
volcanic, largely in the southern claim.
The altered zone is large (roughly 50 sq. km.) and complex. It is not likely a result of the
Chalanga plutons, whose relationship to Quebrada Marquesa Formation of similar age
does not appear to be intrusive. Field observatons suggest that it is directly related to the
San Lorenzo andesitic intrusion, but controlled by structures, dominantly north--south
oriented fractures. Those in turn appear to be related to formation of a regional graben
between the coastal ranges and the Andes proper.
The property is almost entirely underlain by various styles of hydrothermal alteration.

The southern part of the main claim block (under Cerro Blanco) is comprised virtually
entirely of a grey to white, aphanitic silica, and although much of this area is covered by
talus from Cerro Blanco, very little else appears in the detritus. Two stage silicification
textures, hematitic shear zones, voids and drusy cavities are common. Some sectors also
show relict sulfide cavities.
9
This massive silica trend continues south from the property into an area from which gold
values were reported by Hernandez (2004), but which is now held by another party. It
enters the north end of the southern claim but appears to end abruptly. It is likely
responsible, however, for the silica sills and stockworks which mark the volcanic rocks
farther south along that trend. It may also be responsible for their silicification, and the
distinctive red-brown weathering which accompanies it. These units of the Marquesa
Formation are dark, slightly metamorphosed and non-porphyritic, and distinct from the
porphyry andesite encountered father north.
Northward, the massive silica regime ends near UTM 6559, and the main body of the
property is underlain by a more complex altered terrain. This is dominated by a
distinctive white-to-cream colored alteration with iron and manganese oxide patterns. Its
silica content is variable, and in places there is the greasy sheen of pyrophyllite. This is
known locally as combarbalitic alteration, after examples which are mined near
Combarbala and carved for sale under the name combarbalite. That material is known to
be a varible intergrowth of Na-alunite, pyrophyllite, kaolin and quartz with metal oxide
coloration patterns.
Through this altered regime, run large and small bands of the fractured silica, and also
shear zones and other sectors of intense argillic alteration to kaolin, likely with alunite.
Both systems are accompanied by surprising amounts of iron oxides, those adjacent to the
argillic zones being mainly hematite, limonite (and jarosite) with sericite, while fractures
and breccias in the silica bands typically have a quartz-hematite matrix.
In fact, Rivano (1991) lists an iron deposit by the name of La Colorada within the claim
area. Most of the silica dykes and kaolinized belts are structurally controlled, the major
orientation being north-south near vertical. Slickensides in the fracture zones indicated
that movements were also near vertical. A second important orientation is at about 50
deg., again vertical to steeply dipping.
Descending to either north or east of the mountainous area of alterations, one reaches a
massive andesite porphyry, likely related to the San Lorenzo intrusions. In some marginal
localities, the prophyry texture is visible in sectors least affected by the combarbalitic
alteration. The contacts with the massive andesite tend to run up valleys, suggesting that
it underlies the altered area, although later dykes tend to confuse interpretation. In
general, however, the main sector of the property appears to be a regional zone of more
or less combarbalitic alteration formed in the upper parts of a San Lorenzo andesitic
intrusive complex, and cut by secondary belts of epithermal alteration, both siliceous and
argillic, along prominent fault structures. Widespread brecciation and iron oxide
flooding both accompanied and followed the main phase of silica emplacement.
10
DEPOSIT TYPES
Small to moderate sized copper and gold deposits abound in this region, some having
been worked since prehistoric times. Three of the gold mines in this central belt are
considered major (Davidson and Mpodozis, 1991; Sillitoe, 1991), but in examining
these for a likely model, each is distinctly different. Andacollo, to the north, (110 metric
tons Au produced) is considered a metasomatic manto deposit adjacent to a copper-gold
porphyry. El Bronce mining camp to the south (over 24 mt Au) is considered a low-
sulfidization system of epithermal veins. Closest in proximity, and perhaps most
relevant, is the Punitaqui mine (approx. 30 mt Au) which lies 48 km. to the north-
northwest. This is a large, pluton-related vein emplaced in a north-south fault zone, and
was also mined for copper and mercury. These and other deposits emphasize the wide
variety of mineralization in this region.
Closer to the property, copper, silver and gold has been mined from north-south vein
systems and other structures in this vicinity. Rivano (1991) lists several of these, and
other workings were observed by the author. There is also a Cu-Mo breccia pipe at El
Sauce, three kilometers to west of the property, and copper and gold have been mined
from a breccia pipe farther west near Quilitapia.
Copper oxide localities are prevalent in the massive andesites near the alteration zone.
Some of these have been exploited on a small scale, and in some of the cases briefly
examined, the copper minerals were accompanied in some cases by specular hematite and
lesser magnetite.
EXPLORATION
A total of eight days were spent examining and sampling the property. During this
period, some of the major structures and alterations were mapped, and a total of 56 rock
chip samples and 59 dry wash sediment samples were taken. The samples are described
briefly in Appendices I and II, and located in Figures 3 and 4. Geological observations
are presented in Figure 5, while Figure 6 displays results from the southern claim.
With few exceptions, the precious metal values in these samples proved disappointing.
On the other hand, the pattern of anomalies and other elements is suggestive of an iron
oxide-copper-gold style of mineralization, in which the gold tends to be concentrated in a
deposit of limited physical size. The reason for this will be outlined under the heading of
Interpretation and Conclusions.
11
01
02
03
04
05
98
99
300
66
Cogoti
La Cienaga
Reservoir
(<5,16)
7 (9,14) 11 N
36 (6,57) 65
37 (22,90)
Cord
38 (9,21)
8 (<5,16)
on
39(<5,69)
40
(11,82) 9 (5,112)
ipa
64
o
La C
(8,60)
10
18 (10,106)
17 (5,163) (53,29) 28 29 (9,60)
(11,50) 63
16
Co
(<5,111)
lor
15 19 (<5,66)
ad
kaolin (8,205)
o
mine 14
20 (9,39)
ge
30 (10,35)
id
R
13 31 (7,165)
o
ad
(<5,130) 21(19,150)
or
32
ol
62
C
(<5,106) (12,55)
6 35 (14,70)
Cerro 5 (9,68) 52
Colorado 33 (<5,49)
(<5,106)
To 4 (8,46)
34
Punitaqui (11,24)
3 (<5,23) (5,274)
(34,169) 54 47
2 (5,70) 53 61
(<5,80) 47
Cerro
El Botija (<5,94)
A
Sauce
BAR BAL
1
(23,344) 49
Ri (<5,174)
d ge (<5,67)
51
6560
M
CO
RIO
50 (7,39)
PO
59
WE
RL
INE
27
(<5,73)
26 (5,47)
58
25 (11,138) 0 1 2
(5,29)
Cerro 23 24 (10,51)
Blanco
Kilometres
22 (21,54)
LEGEND
To Rock chip sample site
Combarbala Suroco 57
Wash float composite site

Sample # (Au in ppb, Cu in ppm)
COR Sample Group
56
ROCK SAMPLE SITES
with Gold and Copper values
12
01
02
03
04
05
98
99
300
66
Cogoti
La Cienaga
Reservoir
(-,40) 16 N
(5,123) 15 65
(-,50) 38 (-,129) 14 13 (-,155)

2
37 (-,85) (-,89)
(-,130) 36
(14,96) 3
Cord
on
12 (-,109)
4 (6,107)
(-,101) 6 5 (-,97) 64
(-,117) 9 7 (-,102)
8 (-,112)
(10,155)10
(-,100) 11
(9,110) 26 27 (5,89)
17 (24,184)
pa
63
Coi
Co
ge
lor
id
18 (-,131) 25 (5,77)
R
ad
o
kaolin
La
ad
o
or
mine
ol
C
(-,104) 28
(-,115) 29
30 (31,138)
19 (-,252) 53(6,5.3%) 62
Cerro (5,190) 35 31 (13,97) (-,65) 52

Colorado
32 (-,57)
To (7,96) 34
Punitaqui
(9,129) 33
55
54
61
Cerro
El Botija
51 (-,49)
BAR BALA
Sauce
(-,130) 45
(-,98) 46
Ri
dg 47 (-,48)
e
(-,59) 50 6560
M
CO
48 (-,36)
RIO
(17,92) 49
59
(-,75) 23
PO
(7,74) 24 22 (5,60)
WE
21 (-,44)
RL
IN E
58
0 1 2
Cerro
Blanco
Kilometres
LEGEND
To
Combarbala Suroco Silt Sample Number,SCOR Group 57
(ppb Au, ppm Cu)
(- = <5ppb)

56
DRYWASH SEDIMENTS, -80 mesh
Sample sites with Gold
and Copper values
13
GEOLOGY ROCK SAMPLES SILT SAMPLES

55 55 55
A
M
M
PA
PA
PA
O O O
RI RI RI
54 54 54
(3,56) 57
58 (10,54)
Po Po 56 Po 59
w er we (117,83) we
rL rL (6,71)
L ine ine ine
(<5,11)
53 53 53
55 (7,22) Cu
fr o
fr o
fr o
57 46 (57,1.86%)
m
Ro mb
m
Ro mb
m
Ro mb
Co
Co
Co
ad arb
ad arb
ad arb
(24,67) 44
NO O.C.
RI RI 43 RI
ala
al
al
O O (10,165) O
a
52 52 52
41 39
PA (162,1140) PA (5,96) 42 PA
M M (30,72) M
A (7,103) A A
(-,416)
42
40
43 (32,35) 41
44 (10,38) (33,101)
51 51 51
45 (<5,68)
65 50 65 50 65 50
3 00 01 02 03 3 00 01 02 03 3 00 01 02 03
LEGEND LEGEND LEGEND

Massive fine silica, with hematitic fracture Rock samples of the COR Group Silt samples of the SCOR Group
and breccia zones.
Outcrop Silt sample
Silicified Cretaceous volcanic rocks,
with fine silica sills and stockworks. (ppb Au, ppm Cu)
Wash float composite
Scattered Cu oxide showings
(ppb Au, ppm Cu)

Kilometres
0 1 2 SOUTHERN CLAIM OF THE
14
SAMPLING METHOD AND APPROACH
As this area lacks a previously defined mineralized structure, sampling was carried out on
a reconnaissance basis. Zones defined by intense alteration or brecciation were chip
sampled, directly or from debris. In some cases, a composite of varied alteration or
mineralization styles was taken from dry wash float. Clearly, only a tiny portion of this
huge alteration zone could be tested in this way, however, and for a more regional
coverage, silt samples were employed.
SAMPLE PREPARATION, ANALYSIS AND SECURITY
All samples were collected by the author and personally delivered to the ALS Chemex
laboratory in Antofagasta. Here the rock chips samples were crushed and split, and the
silt samples screened to extract the -80 mesh fraction for analysis. Gold levels in the
parts per billion range were tested by aqua regia extraction, followed by ICP-MS
(Induction-Coupled Plasma--Mass Spectrometry) finish. Analyses for a further 30
elements was carried out with the same extraction followed by ICP-AES. ALS Chemex
uses both blanks and standards to maintain quality in their analyses.
ADJACENT PROPERTIES
The main, northern body of the claims is adjoined on the west by a large property of the
government service ENAMI, covering the northwestern lobe of the regional alteration
zone. At one time, kaolin was mined from sectors of this property, and also some barite,
but there is no activity at present. Whether ENAMI found any gold here is not known,
but among the abandoned machinery is the remains of a trapiche, a small mill used to
grind ore with mercury to extract gold. Although not sampled or mapped, this area
appears to have a similar geology to the main alteration zone of the Corona Property.
To the west of the southern leg of the main claim block is a large property of Compania
Minero del Pacifico (CAP), which covers Cerro Blanco and volcanic terrain to west
thereof. This is almost exclusively an iron mining company, and it is not clear whether
their claims are to cover an iron-oxide manto, or if they have some interest in the huge
silica exposure capping Cerro Blanco.
In addition, for the southern claim, there are several small holdings adjacent or extending
into that property, covering small copper or copper-gold workings. At the extreme south
end, gold was once extracted from veins in the volcanic rocks in what is known as the
Arenilias District. There is no present activity, but some old claims are still held, and if
future work on the southern claim is warranted, these inroads must be delimited.
Finally, the three kilometer section of the siliceous alteration between the main and
southern claim group has been staked by another party. This is known (Hernandez, 2004)
to have yielded gold values, but apparently from structures of limited size.
15
INTERPRETATION AND CONCLUSIONS
The Corona Property covers much of a large and complex alteration zone, exhibiting
sectors of massive to drusy aphanitic silica, kaolinization (likely with alunite), extensive
iron oxide development, and a regional combarbalitic alteration which has elsewhere
been shown to be dominated by a sodium alunite. It appears to be associated, at least in
part, with a large intrusion of porphyry andesite, of the San Lorenzo Intrusions, and is
more or less surrounded by small copper oxide and gold workings. The alterations are
structurally controlled, likely by fractures related to regional graben formation.
In view of these characteristics, the property should be evaluated both for epithermal gold
potential, and also as a possible iron oxide-copper-gold (IOCG) target. To this end, the
trace elements characteristic for both types of deposit have been monitored. Anomalies
are given for each sample along with the descriptions in Appendix I and the analytical
results in Appendix II. The ranges for pertinent elements, for both rock and silt samples,
are listed below. (Values for copper taken directly from old workings are excluded).
Rock Samples Silt Samples
range of values average range of values average
Au <5 to 162 13.7 ppb <5 to 306 11 ppb
Ag 0.04 to 4.61 42.4 ppm 0.04 to 8.9 2.6 ppm
As 2 to 3370 246 ppm 6 to 73 19.0 ppm
Ba 20 to 1640 198 ppm 70 to 1000 236 ppm
Bi 0.3 to 824 36.0 ppm 0.03 to 21.3 2.13 ppm
Ce 1.3 to 36.7 4.24 ppm 9.75 to 37.3 25.0 ppm
Co 0.6 to 46.7 3.30 ppm 3 to 37 23.1 ppm
Cu 11 to 1140 289 ppm 40 to 252 108 ppm
Fe 10 samples over 15% 6.9 % 3.9 to 17% 6.5 %
Hg 0.1 to 4.61 0.32 ppm <.01 to 1.77 0.08 ppm
La <0.2 to 19.2 3.23 ppm 3.8 to 17.9 10.6 ppm
Mn 23 to >1% 392 ppm 147 to 3360 932 ppm
Mo 1.1 to 254 20.6 ppm 0.4 to 10.4 2.31 ppm
P 40 to 3510 740 ppm 240 to 1260 657 ppm
Pb 1 to 1075 47.9 ppm 5 to 62 16.1 ppm
Sb 0.2 to 66.8 9.54 ppm 0.14 to 3.5 0.98 ppm
Sr 4.4 to 796 73.4 ppm 39 to 463 97.0 ppm
Te 0.06 to 64.4 3.86 ppm 0.02 to 1.79 0.51 ppm
Tl <.02 to 6.34 0.18 ppm 0.03 to 1.26 0.28 ppm
U 0.01 to 3.73 0.64 ppm 0.2 to 3.27 0.81 ppm
Y 0.3 to 20.7 2.37 ppm 2.57 to 13.75 8.27 ppm
Zn <2 to 422 28.0 ppm 22 to 213 81.2 ppm
Samples below analytical threshold are taken as zero
Ranges of Elements Indicative for Epithermal and/or IOCG Styles of Mineralization
16
With respect to the rock samples, the highest gold value was from a composite of vein
materials in a small wash on the southwest margin of the southern property, near a
granodiorite intrusion. The quartz had sulfide clasts, and was not as fine grained as the
main silica bodies. It is unlikely that it represents a style of mineralization of interest to
an international company. The second highest gold value is also from the southern claim,
and of marginally more interest. Again it is from a composite of siliceous float in a wash,
near the southern end of the massive quartz terrain. The steam follows a large basalt dyke
within the silica. The highest gold value from the main claim block (53 ppb) was a
composite of mixed hematitic silica and kaolinized float from a tributary to lower
Quebrada La Coipa.
Copper values tend to roughly correlate with iron oxide content. This in turn was very
high in many cases, with ten samples returning leachable iron over the 15% limit for the
type of analysis employed. Anomalous values in the other pertinent trace elements are
scattered, but the strongest groupings tend to occur either marginal to the kaolinized
zones, or from an unexplored (and partly unstaked) area on upper Colorado Ridge.
Turning to the silt geochemistry, the suite of elements showing anomalies proved similar
to the rock samples, although at a more muted level as might be expected. There is again
a rough correlation between iron (which ran up to over 10%) and both copper and
molybdenum. Background levels in barium, strontium, cobalt and lead were strongly
elevated, as were the rare earth and epithermal indicator elements.
The highest gold value (306 ppb) was from the dump tailings at one of the small copper
oxide workings around the periphery of the alteration complex. This does little to
enhance the property as an epithermal gold prospect, but supports reports that copper and
gold were mined both separately and together at various sites in the area.
It is concluded that despite widespread epithermal alteration and impressive development

of cryptocrystalline quartz, the gold values returned from sampling do not support further
work on the model of an epithermal gold deposit. The highest gold values returned were
from the southern claim block, and were related to vein and other mineral concentrations
of limited size, which may be held by local miners and which are not of interest to an
international company.
The Corona Property, however, has many of the characteristics of a good iron oxide-
copper-gold (IOCG) target. There has been considerable activity looking for these,
associated with major fractures in the coastal ranges of northern Chile. While most of
this exploration has been directed farther north, there are indications that the IOCG belt
extends south to perhaps the latitude of Valparaiso, and includes the El Soldado deposit
190 km south of Combarbala.
IOCG deposits around the world have proved quite variable, and many of their more
decisive characteristics do not extend much beyond the compact ore deposit itself,
17
making field exploration difficult. There follows, however, an impressive list of

characteristics of the Corona locality which suggest an IOCG target:
1. It involves a large zone of sodic alteration. This is based on published analyses of

combarbalite, showing it to be dominated by a sodium-alunite. (The alkali
minerals are not dissolved in aqua regia, so the ICP data is not relevant here.)
2. It is associated with major north-south fractures bounding a regional graben.
Similarities may be drawn to the Atacama Fault complex associated with IOCG
deposits farther north.
3. There are small copper and gold workings scattered around the periphery of the
alteration zone.
4. There is a great deal of iron oxides associated with both siliceous fracture zones
and argillically altered shear belts. More than half of the silt samples from the
main claim block ran over 7% iron. Three features within the property are named
Colorado for the red-brown color of the rust.
5. Geochemical values for copper (and molybdenum) were high, and roughly
correlate with iron.
6. Background values of barium and strontium are high, and barite veinlets have
been noted.
7. In addition to the trace elements common to most epithermal systems (As, Sb, Te,
Tl etc.), certain elements typical of IOCG deposit were also anomalous, namely
cobalt, bismuth, manganese and REE. The high background levels of the rare
earth indicator elements (Ce, La and Y) in the silt samples is especially striking.
Uranium, (another IOCG tracer) was not particularly strong, but not all indicators
can be expected at any one target.
RECOMMENDATIONS
A moderate, single phase program of roughly a months duration is recommended, with

the objective of defining IOCG characteristics over a portion of the claim block, to the
extent that one of the larger companies searching for these deposits in Chile would be
willing to option the property and carry out the necessary geophysical survey to define
drill targets. The following work is suggested.
1. A major portion of the samples defining IOCG character come from the upper
watershed of La Coipa wash (an abrupt and complex valley), together with
Colorado Ridge to the southeast. This sector of the property should be mapped,
prospected and sampled in some detail. Two or three weeks work would be
involved for a geologist and assistant.
2. In particular, the La Colorada iron oxide prospect (Rivano, 1991), denoted as
occurring in the Colorado Ridge area, should be located and evaluated in view of
IOCG characteristics.
3. A whole-rock assay and petrographic study of the combarbalitic alteration is
recommended.
18
4. The iron mining group CIA Minero del Pacifico (who hold Cerro Blanco and the
territory to west of the southern part of Coronas main claim block) should be
contacted to see if their interest here is really in an iron deposit. It is known that
there has been some drilling in the vicinity of Cerro Negro, and this might be of
importance to IOCG definition.
5. The government bureau ENAMI should be contacted to see if they have
information of interest which they may have collected in the area northwest of
Corona during their mining of kaolin (and barite) there.
6. The alteration zone, including hematitic concentrations, extends to the east of the
Cogoti Reservoir, into ground which is largely open. This area should be
examined and sampled on a reconnaissance level, which will require somewhat
over one week.
BUDGET ESTIMATE
$U.S.
Wages- Field Geologist, one month 12,000

- Field assistant 3,500
Food, lodging and supplies 4,000
Truck rental, fuel, horses 3,000
Transport and analysis of 300 samples 7,500
Petrographic study 1,000
Claim upkeep for six months 3,500
Travel and accommodation 1,500
Research and negotiation 1,000
Report 3,000
Subtotal 40,000
Contingency (15%) 6,000
TOTAL ESTIMATE $US 46,000
Signed & Sealed

_______________
Richard Culbert
19
BIBLIOGRAPHY
Alvarez, P. and De Gramont, X. 1992 Resultados Preliminares de los Trabajos de

Terreno; Cuadrangulo Combarbala E 03. Servicio National de Geologia y Mineria. 5 p.
Camus, F. 1990 The Geology of Hydrothermal Gold Deposits in Chile. Jour. of

Geochem. Exploration. V36 p.197-232.
Davidson, J. and Mpodozis, C. 1991 Regional Geologic Setting of Epithermal Gold

Deposits, Chile. Econ. Geol. V86 p.1174-1178.
Hernandez, Edmundo (2004), from conversation in Santiago and South American

Exploration Service Ltda. literature.
Reyes, M. 1991 The Andacollo Stratabound Gold Deposit and its Position in a Porphyry
Copper-gold System. Econ. Geol. V86 p. 1301-1316.
Rivano, S., 1991, Lista de Yacimientos Ordenados por Quadrangulos. Servicio National
de Geologia y Mineria, Anexo a la Hoja Illapel, 26p.
Rivano, S. and Sepulveda, P. 1991 Hoja Illapel, Region Coquimbo. Servicio National
de Geologia y Mineria. Carta Geologica de Chile #69. 132 p. and a map at 1:250,000.
SERNGEOMIN--BRGM 1993 Projecto Carta Metalogenica-- Region V. Servicio

National de Geologia y Mineria. (A major study produced in four tomes and many
maps).
Sillitoe, R. 1991. Gold Metallogeny of Chile-- an Introduction. Econ. Geol. V86 p.

1187-1205.
20
CERTIFICATE
RICHARD CULBERT; Ph. D., P. Eng.

MINING EXPLORATION CONSULTANT
P.O. Box 9, Gibsons

B.C. Canada, V0N1V0
Ph/FAX 604 886 0919
sn3102@sunshine.net
CERTIFICATE OF AUTHOR
I, Richard Culbert; Ph.D., P.Eng. do hereby certify that:
1. I am a private consultant, with office address as above.
2. I graduated with a degree in Geological Engineering from

The University of British Columbia in 1963, and I obtained
a doctorate from the Department of Geophysics from the
same university in 1970.
3. I am a member of the Association of Professional Engineers

and Geoscientists of British Columbia.
4. I have worked as a geologist for a total of 34 years since my

graduation from university.
5. I have read the definition of qualified person set out in National

Instrument 43-101 (NI-43-101) and certify that by reason of my
education, affiliation with a professional association (as defined in
NI 43-101) and past relevant work experience, I fulfill the require-
ments to be a qualified person for the purposes of NI 43-101.
6. I am responsible for the preparation of all sections of the technical

report titled: Technical Report for Sampling and Evaluation of the Corona
Porperty, Combarbala Area, Chile; and dated: November 16th, 2005
relating to the Corona Property, (the Technical Report).
I spent eight days in July of 2004 sampling and evaluating the Corona Property.
7. I have not had prior involvement with the property that is the subject
of the Technical Report.
8. I am not aware of any material fact or material change with respect

to the subject matter of the Technical Report that is not reflected in the
Technical Report, the omission to disclose which makes the Technical
Report misleading.
21
9. I am independent of the issuer applying all of the tests in section 1.5 of

National Instrument 43-101.
10. I have read National Instrument 43-101 and form 43-101F1, and the
Technical Report has been prepared in compliance with that instrument
and form.
10. I consent to the filing of the Technical Report with any stock exchange
and other regulatory authority and any publication by them for regulatory
purposes, including electronic publication in the public company files on
their websites accessible by the public, of the Technical Report.
Dated: November 16th, 2005

Signed & Sealed
_________________
Richard Culbert
22
APPENDIX I
SAMPLE DESCRIPTIONS AND ANOMALIES
23
CORONA PROPERTY ROCK SAMPLES
Sample UTM Type Au Cu Brief Description and Anomalies

CO-ORDS ppb ppm (in ppm)
CERRO BOTIJA
COR 1 99500 60635 float & OC 23 344 argillic clasts in hem. Breccia
As 410, Mo 15.6, Te 5.4
COR 2 99445 61000 boulder field 5 70 fractured, limonitic qtz., jarosite
Bi 32.4, Te 5.6
CERRO COLORADO
COR 3 99320 61350 O.C. comp. 34 169 qtz. in hem. breccia on ridge
COR 4 99300 61555 O.C. comp. 11 24 interbanded silica & argillics

Ba 410, Pb 100, Sr 796
COR 5 99250 61750 O.C. comp. 9 68 hem.-qtz brec. at quartz zone margin
As 264, Ba 250, Sr 107
COR 6 99330 61995 O.C. comp. <5 106 hem.-kaolin breccia at kaolin margin
Ag 4.6, Ba 690, Co 47, Mn 1%+, Tl 0.82,
Zn 422
NORTH END OF CLAIMS
COR 7 99025 66210 talus float 9 14 black-matrix breccias
Ba 360, U 1.2
COR 8 00370 64579 O.C. comp <5 16 red-brown weathering. breccias
QUEBRADA LA COIPA
COR 9 01155 64150 boulder comp 5 112 varied siliceous breccias
As 180, Bi 11.2
COR 10 00050 63550 float chips 8 60 varied alterations
U 1.0
QUEBRADA LA CIENAGA
COR 11 99850 65260 outcrops <5 16 yellow wthr. shear zones
CORDON COLORADO
COR 13 99935 62360 O.C. comp. <5 130 sheared, rusty, silic. zone
Ba 270
COR 14 99410 62500 O.C. comp. 8 205 varied breccias. hem, jaros, silic.
COR 15 99325 62775 O.C. comp. <5 111 alterations near summit
COR 16 99695 63020 travel comp. 11 50 silic, argillic, rusty mix
COR 17 99150 63285 travel comp. 5 163 silic., jarositic, vuggy

Mo 19.2
COR 18 99020 63385 O.C. 10 106 Mn-Fe wad on fractures
Bi 10.4, Mo 40.7
COR 19 99680 62655 O.C. <5 66 siliceous, yellow alt.
COR 20 99740 62420 O.C. comp. 9 39 silica with sulfide clasts, shears
Bi 15.4
COR 21 99635 62140 O.C. comp. 19 150 silica with sulfide clasts, breccias
Mn 3130
24

CO-ORDS ppb ppm (in ppm)
CERRO BLANCO NORTHEAST

COR 22 01050 57585 O. C. comp 21 54 silic. & hematitic breccias
Mo 26.7
COR 23 01160 57640 float comp. 5 29 vuggy, drusy silica
COR 24 01490 57705 O. C. comp. 10 51 FeOx breccia cross-structure
COR 25 01470 57950 O.C. 11 138 Black matrix breccia boulder train
COR 26 01490 58330 O.C. comp. 5 47 silic. breccia, jarosite, castellations

As 619, Bi 549, Mo 208, Te 16.6
COR 27 01470 57950 O.C. <5 73 rusty zones in quartites
Sr 496
QUEBRADA LA COIPA
COR 28 00600 63300 float comp. 53 29 jaspar with kaolin
Ba 260, Hg 4.6
COR 29 00890 63265 float comp. 9 60 drusy silica, jarosite
As 104, Bi 47
COR 30 00515 62435 float comp. 10 35 yellow matrix breccia in silica
As 3370, Mo 41.6, Pb 371, Sb 67, Sr 344
Te 10.1, Tl 6.34
COR 31 00515 62435 float comp. 7 165 vuggy qtz., Mn, Fe oxides
As 1860, Ba 390, Mo 88, Sb 30, Te 9.6
U 1.5
COR 32 00355 62250 float comp. 12 55 hematitic wad with silica chips
Bi 98
COR 33 00155 61680 float comp. <5 49 drusy silica
COR 34 99735 61340 float comp. 8 46 mega-cavity drusy breccia in silica
COR 35 99925 61800 float comp. 14 70 shattered silica, hem, jaros, sericite
Sr 225, U 1.2
NORTH END
COR 36 99020 65090 O.C. 6 57 hematitic manto
As 515, Ba 1280, Sr 143
COR 37 99300 64890 O.C. comp 22 90 hem & jarosite shear bands
As 135, Mo 26, U 1.8
COR 38 99330 64645 O.C. 9 21 sheared silica zone, limonite
COR 39 99315 64500 float comp. <5 69 mixed silic. and hematitic shears
Bi 27, Mo 17
COR 40 99970 64315 wash comp. 11 82 varied silic and FeOX species, breccias
25

CO-ORD. ppb ppm (in ppm)
SOUTHERN CLAIM
COR 41 01000 51915 wash comp. 162 1140 vuggy vein quartz, pyrite cavities.
As 276, Co 12.4, Mn 736, Pb 143, Sb 41
Zn 122, U 1.4
COR 42 01515 51105 wash comp. 7 103 varied silic. and hematitic breccias
COR 43 01580 51070 wash comp. 32 35 silica in FeOX matrix breccias

As 291, Mo 16
COR 44 01580 51070 wash comp. 10 38 silica in silica breccias. some drussy.
Ag 2.5
COR 45 01580 51070 wash comp. <5 68 volcanics with jarositic fractures
Ag 2.0
COR 46 02135 52800 pit dump 57 1.86% Cu oxides on silic. volc fractures
Ag 1.6, As 645
EAST CENTRAL
COR 47 00460 61130 O.C. comp 5 274 rusty breccias, silica, sulfide casts
Ag 1.6, As 1530, Bi 824, Mo 254, Pb 1075
Sb 40, Te 64.4, U 3.2
COR 48 01215 60970 O.C. comp <5 94 yellow, drusy silica and wad
As 1070, Mo 85, Te 12.8, U 1.1
COR 49 01690 60385 wash comp <5 67 sheared and drusy quartz
COR 50 01470 59215 O.C. comp 7 39 silica, some fractured, some drusy
COR 51 00715 60000 wash comp. <5 174 silica crushed in Mn-FeOX wad
As 307, Bi 80, U 3.7
COR 52 01535 61850 wash comp. <5 106 varied silic. and argillic breccias
Sr 115, Te 8.2
COR 53 00295 61010 wash comp. <5 80 vuggy, ex-pyrite silica, orange FeOX
Pb 145, Te 5.7
COR 54 00240 61015 wash comp. <5 23 heavy, vuggy, epid.-qtz.-garnet skarn
Cr 118, Mn 521, Ni 64
SOUTH CLAIM, NORTH END

COR 55 01070 52915 float comp. <5 11 yellow, silic. & carbonate matrix shear zone
Ba 1640, Co 22, Mn 3590, Zn 222
COR 56 01420 53570 wash comp. 117 83 mixed siliceous breccias
COR 57 01540 52700 O.C. 7 22 silica sills in silicifed volcanics
26
SILT AND SOIL SAMPLES FROM THE CORONA PROPERTY
Sample east north from Au Cu Anomalies (ppm)

ppb ppm
NORTH END OF PROPERTY
SCOR 1 97880 66210 S 9 80
SCOR 2 00800 64675 W <5 89
SCOR 3 01165 84530 talus 14 96
QUEBRADA LA COIPA
SCOR 4 01160 64530 SE 6 107
SCOR 5 01165 64535 SE <5 97
SCOR 6 01050 64150 S <5 101 Ni 20
SCOR 7 01025 63930 SE <5 102 Sr 463, U 1.3
SCOR 8 00935 63850 S <5 112
SCOR 9 00950 63835 NW <5 117 Ba 420, Tl 1.26
SCOR 10 00650 63570 W 10 155 As 31, Co 25, Fe 11%, Mo 10, Pb 30, Te 1.5
SCOR 11 00050 63440 NW <5 100
QUEBRADA LA CIENAGA
SCOR 12 00030 64150 N <5 109 Sr 165
SCOR 13 00030 64930 N <5 155
SCOR 14 00000 64960 W <5 129 Co 41
SCOR 15 99890 65130 W 5 123 Co 37
SCOR 16 99850 65260 W <5 40 U 1.5
CORDON COLORADO
SCOR 17 99155 63135 soil 24 184 Tl 0.89, U 1.2
SCOR 18 99570 62650 W <5 131 Mo 8.8, P 1260, Te 1.3, Tl 1.02
SCOR 19 99470 62050 W <5 252 Ba 1000, Co 32, Mn 3360, P 1140, Pb 34, Zn 213
CERRO BLANCO NORTHEAST

SCOR 20 01425 58250 soil <5 59 Bi 21, Mo 8.4
SCOR 21 01385 58700 W <5 44
SCOR 22 01389 58719 W 5 60
SCOR 23 01550 58820 WNW <5 75
SCOR 24 01170 58755 W 7 74
QUEBRADA LA COIPA
SCOR 25 00285 62825 NW 5 77
SCOR 26 00660 63300 W 9 110
SCOR 27 00890 63265 SE 5 89 As 30, Bi 10
SCOR 28 00515 62435 SE <5 104 As 49, Bi 21, Co 35, Ni 25, Sb 3.2, Te 1.3
SCOR 29 00355 62250 W <5 115 Co 24
SCOR 30 00355 62250 S 31 138 Co 26
SCOR 31 00485 61850 S 13 97
SCOR 32 00155 61680 S <5 57 Ni 27, U 1.5
SCOR 33 99735 61340 SW 9 129 Zn 184
SCOR 34 99750 61340 W 7 95 Te 1.4
SCOR 35 99925 61800 NW 5 190 Ba 620, Mn 2400
27
Sample east north from Au Cu Anomalies (ppm)

ppb ppm
NORTH END
SCOR 36 98970 64315 N <5 130
SCOR 37 99000 64500 ENE <5 85 Mn 1910
SCOR 38 98920 64760 ENE <5 50
SOUTHERN CLAIM
SCOR 39 01000 51915 SSW 5 96
SCOR 40 01515 51105 WSW <5 416
SCOR 41 01580 51070 S 33 101
SCOR 42 02175 51950 SW 30 72
SCOR 43 02020 52290 SW 10 165
SCOR 44 01980 52340 WSW 24 67 Fe 14.7%, Cr 122
EAST CENTRAL SECTOR

SCOR 45 01585 60455 WNW <5 130 As 34, Bi 10
SCOR 46 01690 60385 WSW <5 98 As 73, Bi 12, Mo 10, Pb 317, Te 1.8
SCOR 47 01300 60210 SW <5 48
SCOR 48 00835 59215 N <5 36 As 30
SCOR 49 00820 59385 W 17 92 Zn 172
SCOR 50 00715 60000 WNW <5 59 As 37, Sr 157, Te 1.8
SCOR 51 00950 60665 SW <5 49 As 54, Bi 15, Pb 62, Te 1.6
SCOR 52 01535 61850 W <5 65
SCOR 53 01615 61975 dump 6 5.29% Ag 8.9, Ba 810, Hg 1.8, U 3.3, Te 1.4
SCOR 54 00295 61010 S <5 95
SCOR 55 00240 61015 SW <5 222
SOUTH CLAIM, NORTH END

SCOR 56 01160 52945 dump 306 4460 As 33, Pb 59
SCOR 57 01535 53910 SW 10 54
SCOR 58 01410 53600 W 8 56
SCOR 59 01420 53570 S 6 71
28

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TECHNICAL REPORT FOR

SAMPLING AND EVALUATION

OF THE CORONA PROPERTY

COMBARBALA AREA, CHILE

AN IRON OXIDE - COPPER - GOLD PROSPECT

FOR: CONDOR RESOURCES INCORPORATED

By : Richard Culbert, Ph.D., P.Eng.

Field Work: July, 2004

Report Dated: November 16th, 2005

TABLE OF CONTENTS Page

APPENDIX I SAMPLE DESCRIPTIONS AND ANOMALIES

APPENDIX II RESULTS OF GEOCHEMICAL ANALYSES

The Corona Property is comprised of a contiguous block of five claims covering 15

INTRODUCTION AND TERMS OF REFERENCE

PROPERTY DESCRIPTION AND LOCATION

The property is located approximately 270 kilometers north of Santiago and 10

Punitaqui 1220 La Peste

CONDOR RESOURCES INC.

1145 CORONA PROPERTY, CHILE

ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND

FS Heterogeneous "combarbalitic" alteration

Date: Aug, 2004 Figure No. 3

The property is almost entirely underlain by various styles of hydrothermal alteration.

Wash float composite site

(-,50) 38 (-,129) 14 13 (-,155)

Cerro (5,190) 35 31 (13,97) (-,65) 52

CONDOR RESOURCES INC.

GEOLOGY ROCK SAMPLES SILT SAMPLES

LEGEND LEGEND LEGEND

CONDOR RESOURCES INC.

SAMPLING METHOD AND APPROACH

SAMPLE PREPARATION, ANALYSIS AND SECURITY

INTERPRETATION AND CONCLUSIONS

It is concluded that despite widespread epithermal alteration and impressive development

making field exploration difficult. There follows, however, an impressive list of

1. It involves a large zone of sodic alteration. This is based on published analyses of

A moderate, single phase program of roughly a months duration is recommended, with

Wages- Field Geologist, one month 12,000

TOTAL ESTIMATE $US 46,000

Signed & Sealed

Alvarez, P. and De Gramont, X. 1992 Resultados Preliminares de los Trabajos de

Camus, F. 1990 The Geology of Hydrothermal Gold Deposits in Chile. Jour. of

Davidson, J. and Mpodozis, C. 1991 Regional Geologic Setting of Epithermal Gold

Hernandez, Edmundo (2004), from conversation in Santiago and South American

SERNGEOMIN--BRGM 1993 Projecto Carta Metalogenica-- Region V. Servicio

Sillitoe, R. 1991. Gold Metallogeny of Chile-- an Introduction. Econ. Geol. V86 p.

RICHARD CULBERT; Ph. D., P. Eng.

P.O. Box 9, Gibsons

I, Richard Culbert; Ph.D., P.Eng. do hereby certify that:

1. I am a private consultant, with office address as above.

2. I graduated with a degree in Geological Engineering from

3. I am a member of the Association of Professional Engineers

4. I have worked as a geologist for a total of 34 years since my

5. I have read the definition of qualified person set out in National

6. I am responsible for the preparation of all sections of the technical

8. I am not aware of any material fact or material change with respect

9. I am independent of the issuer applying all of the tests in section 1.5 of

Dated: November 16th, 2005

SAMPLE DESCRIPTIONS AND ANOMALIES

Sample UTM Type Au Cu Brief Description and Anomalies

COR 4 99300 61555 O.C. comp. 11 24 interbanded silica & argillics

COR 16 99695 63020 travel comp. 11 50 silic, argillic, rusty mix

COR 17 99150 63285 travel comp. 5 163 silic., jarositic, vuggy