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Condor Goldfields Inc.        [YGF:TSX-V]

Gustavo Baz Prada Claims, Chihuahua. Entered into a letter of intent to purchase a 50% option on 500 Ha gold prospect. 500 hectares in Chihuahua State. Small gold workings are present in 5 clusters, with pits, adits, and raises. Gold deposits are classified as an epithermal fissure vein system. Two volcanic units outcrop in the area, with gold and silver mineralization present in the older of the two. Located at the southeast extremity of the Merendon range. Metamorphic rocks of the basement extend along a NE-SW axis, partially covered by sedimentary strata. Previous studies in 1988 showed anomalous gold values in some levels of basic metavolcanics. This mineralization appears similar to that of the Vuelta del Rio deposit, 30 km to the east.

A site visit was completed by Bapty Research Limited, a B.C. consulting company, in June, 1997. All 5 sites were sampled and assayed for gold, silver, and 15 other elements (89 channel samples). The average grade of the selected samples was 0.985 g/t, and the zone is potentially large enough to host a resource of economic interest. A satellite imaging map of the area was prepared by RGI of Vancouver, showing faults and alteration zones.

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