DNT Candente Copper Corp

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Candente Resource Corp. (TSX:DNT)(BVLAC:DNT)(WKN:GW4) ("Candente Resource") and
Candente Gold Corp. ("Candente Gold") are pleased to announce that Candente Gold
has received conditional listing approval for its common shares from the Toronto
Stock Exchange. The approval is subject to the completion of a private placement
financing (the "Financing") by Candente Gold for minimum gross proceeds of
Cdn$5.7 million.


Candente Resource is also pleased to announce that its shareholders approved the
Plan of Arrangement between Candente Resource and Candente Gold and the
Financing at the Annual and Special Meeting of Candente Resource on July 10,
2009. Pursuant to the terms of the Plan of Arrangement Candente Resource will
distribute to its shareholders one common share of Candente Gold for every five
common shares of Candente Resource held on the day before the first day of
trading for Candente Gold (the Ex-Distribution Date). For complete details of
the Plan of Arrangement and the Financing see Candente Resource and Candente
Gold's News Releases of June 16, 2009 and July 8, 2009.


Exploration and development work by Candente Gold will initially be focused on
the El Oro project in Mexico where historic records indicate past gold-silver
production of up to 20 million gold equivalent ounces. Candente Gold personnel
have reviewed the extensive historic El Oro documentation and substantiated the
historic production of 8 million ounces of gold equivalent from two veins alone,
which had average grades of 10 to 12 grams per tonne (gpt) gold and 120 to 160
gpt silver over average vein widths of 3 to 10 metres. Exploration work to date
indicates the potential for high grade ore shoots containing in excess of 1
million gold equivalent ounces in the San Rafael vein in the first 100 metres
below the historic workings. Mining at El Oro took place over an average
vertical range of only 250 metres. Several similar vein systems in Mexico are
mineralized over 400 metres vertically and some are mineralized over 600 to 900
metres vertically.


In addition, a historic and non-43-101 compliant estimate indicating a mineral
resource containing approximately 760,000 ounces of gold and 9,750,000 ounces of
silver in 6.89 million tonnes grading 3.44 gpt gold and 44 gpt silver was
reported by Luismin (subsidiary of Goldcorp) in 1992. This mineral resource lies
within and adjacent to the old workings of the San Rafael vein and according to
Luismin documentation represents only 40% of the San Rafael workings. Taking
into consideration all of the known San Rafael workings, Luismin estimated a
total remaining resource of 17 million tonnes of 3 to 4 gpt gold and 40 to 70
gpt silver (non NI 43-101 compliant) which may contain in excess of 1.7 million
ounces of gold and 38 million ounces of silver. Candente Gold cautions that this
is a historical estimate and although it is based on extensive historical
records including 16,800 samples and 2,400 mine plan maps, a qualified person
has not carried out sufficient work to classify the historical estimate as
current mineral resources or mineral reserves and as such the historical
estimate should not be relied upon.


About Candente Resource Corp and Candente Gold Corp.

Candente Resource and Candente Gold's Management Teams and Board of Directors
are senior mining industry executives with a track record in the discovery and
development of copper, gold and silver deposits. Candente subscribes to
principles whereby exploration and development activities are consistent with
best practice and beneficial to the local communities.


This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Candente relies upon litigation protection for forward-looking
statements.


NR 264

Candente Copper (TSX:DNT)
Historical Stock Chart
From Jun 2024 to Jul 2024

Candente Copper (TSX:DNT)
Historical Stock Chart
From Jul 2023 to Jul 2024