International Director Appointed

January 23, 2012 International Director Appointed ASX Release: CDB

Condor Blanco Mines Limited ("Condor Mines", "the Company") is very pleased to announce the appointment of
Mr John Shanahan to the Board of the Company.
Mr Shanahan is currently President and CEO of Revett Minerals Inc (TSX: RVM, NYSE Amex: RVM), a silver and copper producer with mines in Montana, as well as Director of Mediterranean Resources Ltd (TSX: MNR). Mr Shanahan is based in New York and will provide the Company with a deep presence in North America. Mr Shanahan will also add specialised mining finance experience to the Condor Mines Board, having worked at Barclays Capital, Rothschild's and Morgan Stanley in the US.
Mr Shanahan's appointment comes as the Company seeks to advance its exploration assets that have the potential to host very large deposits that will require a significant international expansion to fully investigate, explore and develop. Condor Mines has already enjoyed exploration success, with the drilling program at Gold Iron compellingly demonstrating mineralisation through the delivery wide intersections of copper mineralisation and promising molybdenum grades. With drilling at the Company's key asset Carachapampa currently underway, Condor Mines is strongly committed to its high impact exploration strategy.
The Company would also like to announce the resignation of Mr Jose Bahamondes from the Board. Mr Bahamondes will complete his service to the Board over the next month. The Company would like to thank Mr Bahamondes for his work, especially in the formation of the Company when Mr Bahamondes played a key role in locating, negotiating and acquiring the Company's portfolio of projects. He was also instrumental in setting up operations in Chile.
Mr Bahamondes has now decided to reduce his governance role in order to reduce his workload after many decades in the mining industry. Mr Bahamondes will continue to be involved in the Company going forward as a consultant guiding the management of operations in Chile. He will work in combination with the Company's recently appointed Exploration Manager, Mr Roberto Munoz who has now successfully taken over day-to-day management of Chilean operations since his appointment in September 2011.
The Company is planning further changes to its management team as Condor Mines' portfolio advances. The changes will further support the Company's focus on developing its exploration targets in Chile, as well as capitalising on the high level of corporate attention being given to Chile in North American capital markets.
Enquiries: Mr Glen Darby
Managing Director
Condor Blanco Mines Limited
Office: [phone]
Email: [e-mail]