CONDOR GOLD CORP

Condor Gold CorporationProject: Jack RabbitClaim No. S 19971UTM Co-ordinatesCore Size: BQ

Acid Tests

Geologist: P. Fischer

NAD 83

Diamond Drill Log

Township/Area: Chester Tp.E 430673 |N 5267432

Inclination: -85 degFootage

250Angle84.5

Azimuith: 330 degFootage

500Angle85.5

Mining Division: PorcuProperty Grid

Length: 500ftFootage

Drilled By: Roncor Diamond drilling

Angle

l Drill Hole No. NV02-10

Dine |NTS:41P7129*35ft East 1 O+OQft North

Elevation: 393mFootage Angle

Started: August 8, 2002 Completed August 14 2002i- o a c* G. O J UL fJ t S Td J ix hi E. "7 i 2. du 3

Objective: Test feldspar porphyry southeast of the Young Shannon shaft.

From | To Interval Lithology Description

0

30

36.3

83.8

87.2

30

36.3

83.8

87.2

95

30

6.3

47.5

3.4

7.8

OverburdenQuartz eye-(feldspar)-

porphyry

Feldspar-Porphyry

Intermediate Intrusive

Feldspar-Porphyry

Incipient greisen, silicified. Made up of 4007o 1mm blue quartz eyes, fresh feldspar being replaced by sericite, 3 07o chlorite. Oriented sericite 50TCA. Py 1-307o.

Similar to above, decreasing silicification. Light gray, unaltered fsp-porphyry alternating, at 2 to 7ft intervals, with partly propylitized fsp-porphyry. Schistose 'greenstone' 72.5 - 76.3'. foliation 20-30TCA. Veins: Generally low-density hair line-veins, 1-5mm qtz-veins, sericite joints. Common 1 cm greisen halos around veins. At 46.3' 4mm qtz-vein with 1 x 20 mm cpy cluster in vein, with 5 07o po in 1 cm greisen halo. 56.5 - 58.3': 4mm qtz-vein with 2007o sulph: po, cpy, aspy and cpy 3"7o in greisen halo; 65.5 - 67' three mm wide qtz-carb-veins with 20"7o po, py, cpy. At 66.8' two 3mm qtz veins with 5 07o cpy in vein and sericite rich halo; at 70 - 71' 2 cm spaced hair line epidote-cpy veins; 2 07o py at 72.5' at contact to 'greenstone'; at 77-80' three 1-3mm chlor-epidote-py-cpy veins with 2cm greisen halo; at 83.5' bifurcating qtz-py-cpy-vein with 3 070 py, 1 07o cpy. Sharp contact 60TCA

Possibly Archean. Foliated feldspathic rock,1007o chlorite.Trace pyrite. Foliated 60TCA. Schistose margins. Sharp contact 60TCAditto above 83.8'. Weak chlorite alteration. Contains two 10cm portions of greisen halos: 87 to 88.5 with 2 07o pyrite. Sharp gradation 45TCA

41P12SW2015 2.25806 CHESTER 010

CONDOR GOLD CORP

From To Interval Lithology Description

95 114 19Quartz eye-(feldspar)-

porphyry

variably basified, silicified and in part incipient greisen. Intermediate intrusive (Archean relic?) 97.6 -100.3'. Incipient greisen with 15 "/o sericite 111 -114', with 1-207o py. Qtz-eye- feldspar porphyry commonly weakly sulphide bearing, both as disseminations and in hair line veins and common cm wide quartz-veins. 101.7 -102.6': 1/2 of interval strongly propylitized FQP; 1/2 is qtz-chlor-cpy-vein with 3 x 15mm cpy (po) cluster. 102.6-104': partly basified py S-4% diss'd, cpy D.5%. 104-104.7': partly basified, 207o py. 111 -111.8' S-7% py. Sharp gradational contact^^^ ^^^ - -^^-^ ^^ ^^^

114 135 21 Feldspar-Porphyry

ditto above 83.8. Chlorite 2 - 407o, rare quartz eyes, traxe oxide, pyrite. With higher abundance of cm-wide quartz-veins: common quartz-(carbonate)-veins at spacing of 0.1 - 1 meter, 133 -134': leuco-feldspar-porphyry, 1 07o chlorite, centered around three quartz- veins.

135 160.4 25.4Feldspar-Porphyry /

Incipient greisen

similar above (135'), silicified and dm size greisen haloes surrounding veins, with diss'd py rare cm quartz-veins. 140-142.2 15mm q-c-chlor-vein assoc'd with seric joints. Trace py. Increase of seric downhole from 147.4'. High seric abundance : 150.4 -152.8', halo around 1-2 cm qtz-carb-py-cpy-vein; at 150-151', py 5 0Xo, cpy 1 07o as fine stringers in seric and parallel veins. Low angle stockwork of 1-2mm chlor-carb-py-cpy-veins with 1 cm greisen halo 147.4 -148.7'. Low angle 5mm carb-py-qtz-vein with 5 cm seric rich greisen halo 153.5 -154.2. Overall sulph in interval estimated 1-307o py, tr cpy; Qtz-carb-py vein at 159.3' (5"7o py). At 160' 3007o coarse py.,^^^ ^^ ^^^^^^^-^^-

160.4 231.7 71.3Quartz-eye-(feldspar)-

Porphyry

ditto above 114'. Interval contains various sub-lithologies representing several alteration types and veining. Features present: In part ghost breccia; variably dense crackle breccia; variable degrees of sericite jointing, abundance of sericite, cm greisen haloes around veins; cm wide qtz-carb-veins; coarse qtz-py-vein (30 07o py) 165.3 -165.9'. Overall sulphide: trace to 307o py, trace cpy, mainly in veins, in seric haloes and in high-chlor patches/stringers. Basified fsp-porphyry (high chlorite) with 1 07o py, 10mm cpy cluster, 230.9-231.7'.

CONDOR GOLD CORP

From To Interval Lithology Description

231.7 408 176.3Quartz-eye-(feldspar)- Porphyry and Greisen

variously altered, ditto above, 114'. 1/4 to 1/3 of interval is incipient greisen, as 3 to 10 ft portions, commonly with 3 07o po, Q.5% cpy diss and in veins. At 237.25 - 237.6': 8cm qtz- carb-chlor-py-vein, with 50cm greisen halo. 1ft basified fsp-porph at 247.6-248.8' .Coarse qtz-carb-chlor-py-vein with 3cm greisen halo, trace py at 257.6 - 258.4. 279.8 - 289': Greisen, with gradational contacts, common mm wide qtz-carb-sulph-veins, diss S-5% py, Q.5% cpy; 289 - 319.4' QFP with vein controlled, cm-dm-wide greisen haloes, 1 m spacing, with trace py, cpy in veins and greisen haloes; 319.4 - 323 greisen with intermittent QFP and two qtz-carb-sulphide veins with ID-20% py, minor cpy; 327.2 - 338' Greisen with several qtz-carb- veins, low angle TGA, with high abundance of py, aspy, sphal at:331.8, 332.5', 335.5-336.1, '336.7-337.3'; at 364-366.7' Greisen with diss'py and vein (364- 365'), qtz-carb-sulph vein: high abundance of py, aspy, sphal; at 374.2-374.6' 10cm biot- rich band with 5"7o po, cpy; at 379' qtz-py-chlor vein; at 379.7-382.1' Greisen with 2 07o py; 382.1-395' QFP with intermittent greisen portions, weaklysulphide bearing (1 07o py, cpy trace) and cut by mm-cm wide veins, variously mineralized by py, cpy, trace aspy. 402.7 - 403.9' Incipient greisen with Q.5% each po, py, cpy, molybdenite in veinlets. 403.9-408': Leuco FQP, chlorite-free. 408-409' qtz-py-chlor-vein 40TCA, with 4007o coarse py.

408 500 92 Diorite

Meta-diorite with variations in colour, texture, mineralogy. This unit is subdivided into a number of sub-units. It is considered as a product of basification of FQP. The most common type is a green gray mafic rock with vague subophitic texture. Sub-units: 408 - 412.2' biotite schist, 207o py , foliation 45TCA. 412.2-418' massive, green-brown (chlor, biot). Rare 5mm carb-veins, trace py cubes. Two qtz-carb-chlor-veins, 1cm, at 416.8. -418 -421.5' biotite schist, minor diorite, foliation 20TCA, pyO.5%. - 421.5-427.5': diorite, patchy green and brown colour; rare py cubes; 427.5 - 430': Schistose, 40TCA, common parallel chlor veinlets 30TCA; 430 - 432.5': medium brow, higher biotite abundance, weakly foliated 40TCA , py 3 070 , cpy trace to Q.5%; 432.5 - 437.8': partly basified fsp-qtz- porphyry, py 507o. 437.8 - 438.7': Diorite and 1 cm qtz-vein. 438.7 - 445': weak foliation 20TCA, trace py, cpy in veinlets. 445 - 500': Green-gray and brown, massive metadiorite, 4007o chlorite cluster, trace oxide, py. At 476' 20"7o py in vein, minor qtz-carb-veins with trace py and molybdenite.^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

408 500 92 EOH End of Hole

l 515335 158643 l

1158644 l l 1

CONDOR GOLD CORP

DRILL HOLE LOCATION Mft P

CHESTER TOWNSHIP

DDHNV02-10

Scale. V14285 NTS41P12 June9,2DQ3

n r*(J Q

EOOB73 N5367432

NV02-10

10*

K)Cnoo

CONDOR GOLDCORPJack Rabbit Project

i Chester Towmship

DriH Hole SectKwi NV02-10

80* l NTS 41 PI 2 Junt 9.208*

MINISTRY OF NORTHERN DEVELOPMENT AND MINES

Work Report Summary

Transaction No:

Recording Date:

Approval Date:

Client(s):

147431

302758

SurveyType(s):

W0360.00993 Status: APPROVED

2003-JUN-10 Work Done from: 2002-AUG-08

2003-JUN-12 to: 2002-AUG-14

IKE BURNS EXPLORATION CORP.

YOUNG-SHANNON GOLD MINES, LIMITED

PDRILL

Work Report Details:

Claim# Perform

G

P

P

P

6000249

1136163

1136164

1165536

58,050

SO

SO

SO

S8.050

External Credits:

Perform Approve

58,050

SO

SO

SO

58,050

SO

Applied

SO

51,600

S400

56,000

58,000

Applied Approve

so51,600

5400

56,000

58,000

Assign

S8.000

50

SO

50

58,000

Assign Reserve Approve Reserve Approve

8,000

0

0

0

S8.000

550

50

SO

SO

550

550

SO

SO

SO

550

Due Date

2004-JUL-03

2004-JUL-03

2004-JUL-03

Reserve:

550 Reserve of Work Report*: W0360.00993

550 Total Remaining

Status of claim is based on information currently on record.

41P12SW2015 2.25806 CHESTER 900

2003-Jun-25 10:00 Armstrong-d Page 1 of 1

Ministry ofNorthern Developmentand Mines

Date:2003-JUN-12

Ministere du Developpement du Nord et des Mines Ontario

GEOSCIENCE ASSESSMENT OFFICE 933 RAMSEY LAKE ROAD, 6th FLOOR SUDBURY, ONTARIO P3E6B5

YOUNG-SHANNON GOLD MINES, LIMITED 4981 HWY7 EAST, UNIT 12A SUITE 232MARKHAM, ONTARIO L3R1N1 CANADA

Tel: (888)415-9845 Fax:(877)670-1555

Dear Sir or Madam

Submission Number: 2.25806 Transaction Number(s): W0360.00993

Subject: Approval of Assessment Work

We have approved your Assessment Work Submission with the above noted Transaction Number(s). The attached Work Report Summary indicates the results of the approval.

At the discretion of the Ministry, the assessment work performed on the mining lands noted in this work report may be subject to inspection and/or investigation at any time.

If you have any question regarding this correspondence, please contact STEVEN BENETEAU by email at steve.beneteau@ndm.gov.on.ea or by phone at (705) 670-5855.

Yours Sincerely,

Ron GashinskiSenior Manager, Mining Lands Section

Gc: Resident Geologist

Ike Burns Exploration Corp. (Claim Holder)

Assessment File Library

Young-Shannon Gold Mines, Limited (Claim Holder)

Young-Shannon Gold Mines, Limited (Assessment Office)

Visit our website at http://www.gov.on.ca/MNDM/LANDS/mlsmnpge.htm Page: 1 Correspondence 10:18398

41P12SW2015 2.25806 CHESTER 200

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2.25806 PDRILL