Candente Resource Corp.

Candente Resource Corp.

January 17, 2007 18:54 ET

Candente to List on Lima Stock Exchange

LIMA, PERU--(CCNMatthews - Jan. 17, 2007) - Candente Resource Corp. (TSX:DNT) ("Candente") is pleased to report, that the Bolsa de Valores de Lima (Lima Stock Exchange) ("BVL") held a press conference in Peru yesterday to announce that they have begun the process to list the common shares of Candente.

Candente is being sponsored by the Credibolsa, Peru's largest brokerage firm and the trading arm of Banco de Credito, Peru's largest bank. Credibolsa's main reason for interest in Candente is the Canariaco Norte copper project, which is recognized as having excellent potential for high profitability and relatively low capital requirements. Andres Milla, head of SAB Credibolsa, stated "there are US$20 billion in funds on Peru's capital markets looking for somewhere to invest."

The BVL was one of the most profitable exchanges in the world in 2006, with average profits of 166%. Mining shares, which make up 61% of the exchange listings, lead with average profits of 266% followed by agriculture of 239% and basic industry and services, which showed profits of 177%. The BVL is considered to be the thermometer of the local economy and analysts expect it to show increasing profits this year (Newspaper "El Comercio" December 28th, 2006 Edition).

The BVL sector for risk capital, where Candente is expected to list in February, is growing quickly. It was started in 2005 with total capital of US$13.92M, which rose to US$377.69M in 2006 and US$413.40M during the first two weeks of 2007. This is credited to the strong interest in mining by local investors and attractive tax benefits in Peru.

During the press conference, President and CEO Joanne Freeze, explained that Canariaco is a unique opportunity for investment with high cash flow potential with relatively low capital investment and low production costs. The feasibility study will be starting soon and is expected to take approximately one year and the Company is working hard to bring Canariaco into production as early as 2009. Capital requirements are estimated to be approximately US$142 and US$200 million and payback for the investment is estimated at 3 years or less with copper prices of $1.50 or greater. An initial production of 30,000 tonnes per day increasing to more than 60,000 tpd. is estimated to produce an annual cash flow of approximately US$76 million over a minimum of 13 years at $1.50/lb Cu (a total of US$1B).

The project is located 110 km northeast of Chiclayo in Lambayeque, Northern Peru. In addition, Candente has other gold, silver, copper and zinc exploration projects in Peru and Mexico.

Freeze further explained that "As of June 2006, Canariaco had an inferred resource containing 4.8 B lb total copper with 36 drill holes. Since that time, an additional 46 holes have been drilled and a substantial increase to the size of the deposit has been demonstrated and the resource is open for expansion laterally and vertically. The project is amenable to low operating costs due to leachable copper, low strip ratio, low elevations, good access and infrastructure, abundant water supply, and accessible leach pad sites."


Joanne Freeze, P. Geo., President & CEO

Candente Resource Corp.

Release No. 193

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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