Mr. Mark Child reports

CONDOR GOLD PLC - INTERIM REPORT AND ACCOUNTS FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2018

Condor Gold PLC has released its unaudited interim financial report together with management's discussion and analysis for the three- and six-month periods to June 30, 2018. Both the results and the MD&A have been posted on the company's website and are also available on SEDAR.

Highlights for six months to June 30, 2018:

• Successful secondary listing on the Toronto Stock Exchange;
• Amendment of environmental and social impact assessment involving a redesigned mine infrastructure to avoid resettlement was submitted to the Nicaraguan Ministry of the Environment and Natural Resources (MARENA) in application for the environmental permit to construct and operate a 2,800-tonne-per-day processing plant with capacity to produce 100,000 ounces of gold per annum;
• Final site visit inspection completed by the Inter-Institutional Committee, which comprises three ministries and representatives from the local mayors' offices;
• Additional technical studies completed and submitted to MARENA following the site visit inspection;
• 2.5 million British pounds raised through a private placement;
• Positive rock chip assay results and detailed geological mapping progress the plan to define a major gold district around La India project;
• Appointment of Andrew Cheatle as a non-executive director based in Canada with 30 years industry experience, strengthens the board.

Postperiod highlights

MARENA completed a positive review of the ESIA, including amendments, and formally notified the company to proceed to a public consultation on July 13, 2018. The turnout was high; a total of 499 people registered and attended the public consultation at which the technical, environment and social aspects of a new mine were presented and discussed in a transparent manner. During presentations of the project to community groups and house-to-house visits, the company received over 600 expressions of interest in/applications for new jobs.

On Aug. 6, 2018, the company announced that MARENA had granted the company the key environmental permit for the development, construction and operation of a processing plant with capacity to process up to 2,800 t/d. Gold production is expected to be approximately 80,000 ounce gold per annum from a single open pit, with the La India project representing a $120-million (U.S.) investment and creating an estimated 1,000 new jobs.

Mark Child, chairman and chief executive of Condor Gold, commented:

"This has been a very encouraging first half-year period for the company. A redesigned mine site infrastructure to avoid community resettlement and amended ESIA were submitted to MARENA in January, 2018. We subsequently held several encouraging meetings with key ministries. A final site visit inspection was completed in March, 2018, by the Inter-Institutional Committee, which is comprised of three ministries and representatives from the local mayors' offices. Further technical studies were subsequently submitted to MARENA. MARENA then completed a positive review of the ESIA, including amendments, and formally notified the company to proceed to a public consultation on July 13, 2018.

"On Aug. 6, 2018, the company announced that MARENA had granted the company the key environmental permit for the development, construction and operation of a processing plant with capacity to process up to 2,800 t/d. Gold production is expected to be approximately 80,000 oz gold per annum from a single open pit, with the La India project representing a $120-million (U.S.) investment and creating approximately 1,000 new jobs."

About Condor Gold PLC

Condor Gold is a gold exploration and development company with a focus on Central America.

Condor published a PFS on its wholly owned La India project in Nicaragua in December, 2014, as summarized in the technical report. The PFS details an open-pit gold mineral reserve in the probable category of 6.9 million tonnes at 3.0 grams per tonne gold for 675,000 ounces gold, producing 80,000 ounces gold per annum for seven years. La India project contains a mineral resource in the indicated category of 9.6 million tonnes at 3.5 g/t for 1.08 million ounces gold and a total mineral resource in the inferred category of 8.5 million tonnes at 4.5 g/t for 1.23 million ounces gold.

Technical information

Certain 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 Nov. 13, 2017, with an effective date of Dec. 21, 2014, prepared in accordance with National Instrument 43-101. The technical report was prepared by or under the supervision of Tim Lucks, principal consultant (geology and project management), Gabor Bacsfalusi, principal consultant (mining), Benjamin Parsons, principal consultant (resource geology), each of SRK Consulting (U.K.) Ltd., 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.

Qualified person

Mr. Crawford has supervised the preparation of the geological technical information in this report. Mr. Crawford has more than 30 years of relevant experience in project studies, mine design, economic analysis and resource estimation. He is a registered professional engineer and a qualified person under Canadian National Instrument 43-101.

Quality assurance and control

Samples generated from soil sampling and drilling activities are shipped directly in security-sealed bags to Bureau Veritas preparation facility in Managua (ISO 9001). Samples shipped also include intermittent standards and blanks. Pulp samples are subsequently shipped to Bureau Veritas Acme Laboratories in Vancouver, Canada, for analysis. For the drilling assays used for mineral resource estimations, 5 per cent of pulp samples are prepared and analyzed by ALS Minerals in Vancouver, Canada (ISO 17025:2017 and ISO 9001:2015), and Bureau Veritas Laboratories (ISO 17025:2005 and ISO 9001:2015). Metallurgical tests were done on quartered core samples for La India, America and Central Breccia. No systematic mineralogy analysis has been carried out.

                          CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
                               (all amounts in pounds, unless otherwise listed)

                                                            For the six months ended,     For the three months ended,
                                                       June 30, 2018   June 30, 2017   June 30, 2018   June 30, 2017

Revenue                                                            -               -               -               -
Share based payments                                       $(466,305)    $(1,655,688)      $(240,562)    $(1,988,989)
Administrative expenses                                     (822,184)     (1,689,791)       (445,012)       (403,230)
Operating (loss)                                          (1,288,489)     (3,345,479)       (685,574)     (2,392,219)
Finance income                                                   958               -             721               -
(Loss) before income tax                                  (1,287,531)     (3,345,479)       (684,853)     (2,392,219)
Income tax expense                                                 -               -               -               -
(Loss) for the period                                     (1,287,531)     (3,345,479)       (684,853)     (2,392,219)
Other comprehensive income/(loss)
Currency translation differences                             192,411       1,521,217         902,966       2,053,210
Other comprehensive income/(loss) for the period             192,411       1,521,217         902,966       2,053,210
Total comprehensive income/(loss) for the period          (1,095,120)     (1,824,262)        218,113        (339,009)
Earnings per share expressed in pence per share
Basic and diluted (in pence)                                   (2.00)          (5.68)          (1.02)          (3.90)

We seek Safe Harbor.