09:02 AM EDT, 03/10/2025 (MT Newswires) -- Condor Energies ( CNPRF ) said Monday that it received the mining license for the Kolkuduk project in Kazakhstan, the company's second critical minerals license in the country.

Condor said the Kolkuduk License provides the company exploration rights for mining solid minerals for a six-year term. The license is located near Condor's 37,300-hectare Sayakbay critical minerals license.

The company said a prior well drilled in the Kolkuduk license territory for hydrocarbon exploration encountered and tested brine deposits with lithium concentrations of up to 130 milligrams per liter. Other critical minerals identified include rubidium, strontium and cesium.

"Condor's focus on developing critical minerals in Kazakhstan aligns with the strategic focus of multiple countries to accelerate the development of diverse, secure, and sustainable supply chains of critical minerals," said Don Streu, Condor's president and CEO. "Kazakhstan is one of the select group of minerals-producing countries identified as strategic to these efforts."

Condor shares jumped 10.2% on Friday to $1.84 on the TSX.