Candente Resource Corp.

Candente Resource Corp.

January 06, 2005 18:16 ET

Candente-Goldcorp Schedule Drilling for Staghorn Gold Property, Newfoundland


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANDENTE RESOURCE CORP.

TSX SYMBOL: DNT

JANUARY 6, 2005 - 18:16 ET

Candente-Goldcorp Schedule Drilling for Staghorn Gold
Property, Newfoundland

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 6, 2005) - Candente
Resource Corp.(TSX:DNT) is pleased to advise that Petro Drilling Company
Limited of Newfoundland has been contracted to carry out a diamond drill
program on the Staghorn Property. The program is scheduled to commence
at the end of January, 2005 and is planned to comprise approximately
2200 metres (m) in 9 holes. The drilling program is being funded by
Goldcorp Inc. (NYSE:GG)(TSX:G) ("Goldcorp") who has the right to earn a
70% interest in the Staghorn property by financing all exploration and
acquisition costs and completing a bankable feasibility study by January
2010.

The drilling is designed to test a 2.5 kilometre (km) structural trend
where gold mineralization has been found in bedrock, angular rock float,
soils and heavy mineral concentrate (HMC) samples. Gold values of 0.5 to
25.7 grams per tonne (gpt) were obtained from bedrock in three distinct
zones. Gold values from one of the zones (70m by 30m) range from 0.5 to
13.5 gpt (several in the 1.5 to 5 gpt range) from 1m bedrock channel
samples in trenches as well as from selected bedrock chip samples and
angular float. Outside the trenched area overburden masks outcrop
exposure over much of the property, which covers 4900 hectares.

Several of the drill holes will test high chargeability zones within the
gold trend. The high chargeability zones, which occur over a 3.2 km
length, often coincide with gold-bearing sulphide mineralization found
on the property. The chargeability zones were identified by an Induced
Polarization (IP) survey. The styles of mineralization, host rocks,
structural setting and geochemical signature found to date on the
Staghorn Property are all typical of intrusion hosted-orogenic deposits
such as the 175 and 19 million ounce gold deposits at Muruntau and
Kumtor in Central Asia.

All samples taken were prepared by Eastern Analytical Labs Ltd.
("Eastern") in Springdale, Newfoundland. Eastern preformed fire assay
with atomic absorption finish for gold. Pulps were sent to Acme
Analytical Laboratories ("Acme") in Vancouver, BC for 35 element ICP +
Telurium. Any samples that returned a gold value higher than 500ppb from
the ICP analysis were then fire assayed for gold by Acme.

For more technical information on the Staghorn property, please refer to:

http://www.candente.com/s/projects_staghorn.asp

Newfoundland Update

Exploration is also being planned for 2005 on the Linear Gold Property
where Goldcorp also has the right to earn a 70% interest by financing
all exploration and acquisition costs and completing a bankable
feasibility study by January 2010. In addition to the Staghorn and
Linear Properties, Candente holds 100% interest in 593 claims in nine
gold properties in Newfoundland. During the fall of 2004, exploration
work was completed on some of the properties in Newfoundland and the
following is a summary of work carried out.

Paul's Pond Property Central Newfoundland - Under Option from
Cornerstone Capital Resources

Exploration included an IP Survey and diamond drilling of 771.5m in four
holes. All holes intersected disseminated pyrite and arsenopyrite
mineralization with silica alteration zones hosted in Silurian
sediments. Hole PP04-01 tested the down dip potential of the previously
known Goose gold showing and the remaining 3 holes tested two recently
defined chargeability trends. Gold mineralization intersected was
limited to weakly anomalous gold values and narrow higher-grade
intervals such as: 15.68gpt over 0.80m; 1.22gpt over 1.11m; and 2.14gpt
over 1.62m in hole PP04-01 and 0.30gpt over 9.45m; and 2.14gpt over
0.60m in two other holes.

Duder Lake Property in North-Central Newfoundland - Under Option from
Roland Quinlan and Quest Inc.

Exploration included IP and ground magnetics surveys and diamond
drilling of 769.7 meters in three holes. Disseminated pyrite and local
magnetite with weak silica alteration was encountered in all three holes
to explain chargeability anomalies defined by IP. Shear hosted
mineralization exposed at surface was found to be discontinuous at depth
and not occurring over economic widths. Anomalous gold results include:
1.63gpt over 3.44m; 3.22gpt over 0.40m; and 1.99gpt over 0.74m.

The Option agreements that Candente holds on the Duder Lake and on the
Paul's Pond properties will be terminated. Although only minor work was
carried out this year on the Island Pond Property, the Company has
decided to also terminate the option agreement it holds with Cornerstone
on this property.

Mike Casselman, M.Sc., P.Geo., General Manager Exploration and Director
of Candente is the qualified person for Candente's Newfoundland
properties as defined by National Instrument 43-101, and has read and
approved the contents of this release.

Candente also announces the granting of incentive stock options to
directors, employees and consultants in the amount of 650,000 shares
exercisable at a price of $0.70 per share for a period of five years.

Candente is a well-funded mineral exploration company focused on the
acquisition and exploration of gold and copper projects with world-class
potential. Management has a strong geological/technical focus and a
track record of discovering world-class mineral deposits. Candente
subscribes to principles, which ensure that its exploration and
development activities are beneficial to the local communities.

ON BEHALF OF THE BOARD OF DIRECTORS

Joanne Freeze, P. Geo., President & CEO

Candente Resource Corp.

Release No. 121

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.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Candente Resource Corp.
    Joanne Freeze, P. Geo.
    President & CEO
    (604) 689-1957 or Toll Free: 1-877-689-1964
    Email: info@candente.com
    Website: www.candente.com