Lagasco changes name to El Condor Minerals Inc. - continues into B.C. &
launches website

TSXV Symbol: LCO

VANCOUVER, Aug. 3 /CNW/ - LAGASCO CORP. ("Lagasco/El Condor" or the "Company") is pleased to announce that effective as of the opening of the market tomorrow, the Company's name will be changed to El Condor Minerals Inc. - the Company will continue to trade on the TSX Venture Exchange with the symbol LCO. In connection with this change of name, the Company also announces that its corporate jurisdiction will be continued out of the province of Ontario and into the province of British Columbia.

Leigh Freeman, President and CEO of Lagasco/El Condor commented: "Our new name recognizes the heritage of Anchaca, our first discovery-stage property acquired under option from Bernie Bernstein's Peruvian exploration company Exploraciones Cori Condor. This is one more step in the evolution of the Company."

The Company also announces the launch of its new website at www.elcondorminerals.com.

About Lagasco Corp./El Condor Minerals Inc.

Lagasco Corp./El Condor Minerals Inc. is a newly- constituted minerals exploration company focused on the discovery of large precious- and base-metal mineral systems in stable political jurisdictions. The Company's first project is Anchaca, a 2,200 hectare gold-copper property in southern Peru. For further information please visit the Company's website at www.elcondorminerals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: D. Barry Lee, Chairman, [phone], [email protected]