Concordia Reports a Resource Estimate of 5.4 Million Ounces of Silver From the Providencia Project, Argentina

Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia" or the "Company") is
pleased to announce an initial National Instrument 43-101 compliant resource
estimate for the Providencia Ag-Cu property in northwestern Argentina (the
"Providencia Property") as prepared by independent consultants RPA Inc.("RPA")
of Vancouver, Canada. The Company, through its wholly owned subsidiary,
Meryllion Minerals Corporation, has an option to acquire a 100% interest in the
Providencia Property pursuant to an option agreement entered into in March 2011.


The estimate is an in-pit and underground resource of 5.4 million ounces of
silver in the Inferred category (Table 1).




        Table 1 - Inferred Mineral Resources - Providencia Project         
                           as at August 29, 2012                           
                                                                           
---------------------------------------------------------------------------
             Cut-Off       Tonnes       Ag        Cu           Ag        Cu
            (g/t Ag)                 (g/t)       (%)         (oz)      (lb)
---------------------------------------------------------------------------
In Pit            40      981,000      155     0.074    4,900,000    72,400
---------------------------------------------------------------------------
U/G              150       32,900      504     0.249      533,000     8,180
---------------------------------------------------------------------------
Total                   1,014,000      166     0.080    5,430,000    80,600
---------------------------------------------------------------------------
                                                                           
Notes:   1) Numbers may not add due to rounding                            
         2) Metal price used was US$27/oz Ag                               
         3) Mineral Resources have been classified according to the CIM    
            Standards on Mineral Resources and Reserves Definitions and
            Guidelines         



The estimate was prepared in accordance with NI 43-101 as well as CIM Definition
Standards for Mineral Resources and Mineral Reserves (2010), and was based on 41
drill holes completed during the Company's recent first stage drilling program
(press release March 2, 2012) as well as the 26 holes undertaken by Cardero
Resource Corp in 2003 and 2004 when it held an option on the property. Holes
were drilled every 50m along fences 50m apart. The estimate was prepared from
interpreted cross- and longitudinal-sections from which wireframe models of the
geology and mineralization were developed. These formed the basis for a block
model on which pit shells were subsequently superimposed (Figure 1).


To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/CCNMap830.pdf


The drilling not only provided the basis for the estimate but has indicated the
potential to expand these resources significantly between the pits by further
drilling and extend it along a well mineralized structure trending NW from the
two northerly pits. In addition, there are further targets on the property. As a
consequence, the Company has optioned two mineral properties (Olaroz Chico and
Libertad) directly to the north of its La Providencia property, and has also
acquired the rights to purchase additional properties (Cerro Galan, Coranzuli,
Coyaguaima, Panizos, and Nazarena) in the district that also hosts Silver
Standard's Pirquitas Ag-Sn mine. "The Company is pleased with the results of its
first pass exploration program," said Ed Flood, Chairman of Concordia. "Not only
have we been able to bring resources to book, but -more importantly- the
drilling has indicated where we can locate additional resources, and we are now
in a position to attract suitable partners to advance this project which is
located in the Argentine-end of the prolific Bolivian Sn-Ag belt."


With respect to the recent property acquisitions, two separate
exploration-with-option-to purchase agreements were signed in October 2011(but
came into effect in July 2012) with Sra Silvia Rojo regarding the Olaroz Chico
and Libertad properties. These agreements require that Meryllion make payments
of US$1 000 000 over 60 months (US$ 10 000 paid) in order to earn a 100%
interest in the properties. In addition, a 1%NSR is due with an option to buy
out the royalty for US$ 500 000. In addition, an exploration-with-option-to
purchase agreement was signed with Sr Jorge Bragantini in June 2012 with respect
to Cerro Galan, Coyaguaima, Coranzuli, Panizos and Nazarena. This agreement
calls for a series of annual option payments amounting to US$ 260 000 over 48
months (US$ 10 000 paid) as well as a final purchase price of US$ 740 000 in
order to earn a 100% interest in the properties. The properties are also subject
to a royalty of 1% NSR which can be purchased for an additional US$ 500 000. In
addition, there is a work commitment in the first year of US$ 100 000.


QUALIFIED PERSONS

Field work and drilling at Providencia were undertaken by a team of geologists
and technicians supervised by Project Geologist Mr Jose Antonio Cires, BSc. The
resource estimate was carried out by Mr David Rennie, PEng and Qualified Person
of RPA who visited the property on two occasions and worked closely with Project
Geologist Cires. All activities were under the direction of Dr Willem Fuchter
PGeo and a Qualified Person in accordance with National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101") who has summarized
and approved the technical content of this news release. The effective date of
the estimate is August 29, 2012, and RPA is currently finalizing a NI 43-101
Technical Report describing in detail the methods and parameters on the
Providencia Property resource estimate which will be made available on SEDAR
within the next 45 days. Drill samples, on which the estimate is largely based,
were sent to the accredited facilities of ALS Minerals in Mendoza, Argentina for
sample preparation and analysis as described in more detail in the press release
of March 2, 2012. Meryllion's QA/QC program included the insertion of blanks,
duplicates, and certified reference materials, and these data have been reviewed
by Ms Lynda Bloom PGeo of Analytical Solutions Ltd of Toronto Canada, and a
Qualified Person. In addition, data verification and validation were performed
by RPA in the process of deriving the estimate.


ABOUT CONCORDIA

Concordia is a well-financed junior exploration company with an emphasis on
developing mineral deposits in Africa and South America. Concordia has an
extensive exploration portfolio in the resource-endowed regions of Burkina Faso,
Gabon, and the Democratic Republic of Congo (the "DRC"), with a land package in
Africa totaling over 12,400 km2. In addition, Concordia has acquired an option
to purchase 100% of the historic La Providencia silver mine located in the Puna
district of northwestern Argentina and has also acquired an option to purchase
the 14,000 ha Cerro Amarillo-Cajon Grande copper-gold-molybdenum property
located in the Malargue District of Argentina. The Company has an experienced
management team and board of directors with extensive expertise across the
globe. 


On behalf of the Board of Concordia Resource Corp.

R. Edward Flood, Chairman

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the British Columbia
Securities Act. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule"
and similar words or expressions, identify forward-looking information. The
forward-looking information relate to, among other things, the results of the
current exploration program, identification of targets, plans for further
drilling, and future plans of the Company. Forward-looking information is
subject to a variety of risks and uncertainties which could cause actual events
or results to differ from those reflected in the forward-looking information,
including, without limitation, risks and uncertainties relating to risks
inherent in mining including environmental hazards, industrial accidents,
unusual or unexpected geological formations, ground control problems and
flooding; risks associated with the estimation of mineral resources and reserves
and the geology, grade and continuity of mineral deposits; the possibility that
future exploration, development or mining results will not be consistent with
the Company's expectations;

the potential for and effects of labour disputes or other unanticipated
difficulties with or shortages of labour or interruptions in production; actual
ore mined varying from estimates of grade, tonnage, dilution and metallurgical
and other characteristics; the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses, commodity price
fluctuations; uncertain political and economic environments; changes in laws or
policies, delays or the inability to obtain necessary governmental permits; and
other risks and uncertainties, including those described in each management
discussion and analysis. Forward-looking information is in addition based on
various assumptions including, without limitation, the expectations and beliefs
of management, the assumed long term price of metals; appropriate equipment and
sufficient labour and that the political environment where the Company operates
will continue to support the development and operation of mining projects.
Should one or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those described in the forward-looking information. Although the Company has
attempted to identify important factors that could cause actual results to
differ materially, there may be other factors that cause results not to be
anticipated, estimated or intended. The Company does not intend, and does not
assume any obligation, to update the forward-looking information to reflect
changes in assumptions or changes in circumstances or any other events affecting
such information, other than as required by applicable law. Accordingly, readers
are advised not to place undue reliance on forward-looking information.