2 December 2013 PLACEMENT ON 25/10/2013 UNDER SECTION 7.1A ASX Release Stock Code: CDB

Further to the ASX announcement and Appendix 3B lodged by Condor Blanco Mines Limited (the Company) on 28 October 2013, the Company provides the following information required under ASX Listing Rule 3.10.5A in respect of the issue of 23,637,699 Shares, pursuant to ASX Listing Rule 7.1A:
a) Details of dilution from this placement to the existing shareholders:

Percentage of issued capital represented by this placement:

10%

Percentage of post placement issued capital held by pre- placement security holders:

100%

Details of where some of the existing security holders participated in the placement:

Pre-placement security holders who did not participate in the

Placement:

99.9%

Pre-placement security holders who did participate:

0.1%

Participants in the placement who were not previously security holders:

0%

b) Reasons for issue of Shares as a placement under rule 7.1A:
The Company considers the placement under rule 7.1A as the most efficient and expedient method for raising the funds required to achieve its stated objectives given the funding certainty. Condor Blanco Mines also considers that significant benefits in introducing a cornerstone investor to promote a more diverse shareholder base.
c) Details of any underwriting arrangements: Not applicable
d) Details of other fees: Nil

For and on behalf of the Board

distributed by