Candente Gold Corp.
TSX : CDG

Candente Gold Corp.

January 18, 2010 04:00 ET

Candente Gold Appoints Darin Wagner to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2010) - Candente Gold Corp. (TSX:CDG) ("Candente Gold") is pleased to announce the appointment of Mr. Darin Wagner, M.Sc., P.Geo., as an Independent Director of Candente Gold.

As President of Sydney Resource Corp., Mr. Wagner directed the merger of Sydney and Band-Ore Resources Inc. to form West Timmins Mining Inc. in September 2006. As President, CEO and a Director of West Timmins, Mr. Wagner carried on to lead exploration with WTM through discovery of the high-grade Thunder Creek Zone in Timmins, Ontario and the ultimate sale of WTM to Lake Shore Gold Inc. for $385 million in late 2009. He also currently acts as a Technical Advisor to Mag Silver Corp. and to Platinum Group Metals Ltd.

Mr. Wagner joins Joanne Freeze, P.Geo., President and CEO, Peter Megaw, CPG, Ph.D., Independent Director, Larry Kornze, P.Eng., Independent Director and Andrew Lee Smith, P.Geo., Independent Director on the Candente Gold Board of Directors.

"Candente Gold's flagship El Oro Property is a district scale project covering the heart of the largest high-grade gold-dominant vein camp in Mexico. The strategy of district scale exploration in proven high-grade gold camps is one I am very familiar with and one that has proven successful. El Oro shares a number of similarities with the historic Fresnillo, Guanajuato and Pinos Altos camps in Mexico, all of which have seen significant new discoveries of gold and silver in the last few years," said Mr. Wagner. "I am very pleased to be able to join Joanne Freeze and her team at Candente Gold and to again team up with Dr. Peter Megaw in Mexico. I am also looking forward to working with the Candente Team on the large portfolio of promising early stage gold projects in Peru which were acquired under the helm of Ing. Fredy Huanqui and Joanne Freeze. Huanqui and Freeze formed Candente together following their involvement with the discovery of Barrick's Pierina gold deposit in Peru. It is not often that one has the opportunity to work with such an experienced and successful team of mine finders and I am excited by the path ahead."

Drilling is planned to commence at El Oro in February 2010 and will comprise both surface drilling for new veins and underground drifting and drilling targeted on extensions to high-grade ("bonanza") shoots in the San Rafael Vein. San Rafael mines produced in excess of 4 million ounces of gold and 44 million ounces of silver, at average grades of 11 gpt gold and 115 gpt silver, historically from the uppermost 150 to 250 metres. Exploration to define drill targets on some of the Peru properties will also commence in February 2010.

Candente Gold was formed as part of a re-organization (the "Arrangement") by Candente Resource Corp. and began trading on the Toronto Stock Exchange ("TSX") under the symbol of "CDG" on January 4th, 2010.

Mark Pryor, Pr.Sci.Nat., Independent Consultant, Joanne C. Freeze, P.Geo., President and CEO and Sean Waller, P.Eng., Vice President are the Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the contents of this release.

About Candente Gold Corp.

Candente Gold's Management Team and Board of Directors are senior mining industry executives with a track record in the discovery and development of mineral deposits. Candente Gold 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.

CAUTIONARY NOTE TO U.S. INVESTORS

We advise U.S. investors that this news release uses terms which are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.

Contact Information

  • Candente Gold Corp.
    Walter Spagnuolo
    Investor Relations
    + 1 (604) 689-1957
    or
    Candente Gold Corp.
    Joanne C. Freeze, P.Geo.
    President & CEO
    + 1 (604) 689-1957
    communications@candente.com