Corriente Resources Inc.

Corriente Resources Inc.

April 25, 2008 07:00 ET

Corriente and Other Mining Companies Meet With President Correa and Top Officials: Correa Says Responsible Mining Will Go Ahead in Ecuador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2008) - Corriente (TSX:CTQ)(AMEX:ETQ) announces that the company and seven other mining companies (Aurelian Resources, Cornerstone Capital Resources, Dynasty Metals & Mining, Ecometals Limited, IAMGOLD, International Minerals Corporation and Salazar Resources) collectively met with President Correa and other top officials yesterday afternoon in Quito to discuss the future of mining in Ecuador and the impact of the previously announced Mining Mandate.

The companies welcomed President Correa's repeated statements that responsible mining will go ahead in Ecuador. He said that the purpose of the Mining Mandate was to allow the Government to get its house in order and new mining laws in place so that responsible mining can proceed. The President invited the mining companies to meet with the Ministry (of Mines and Petroleum) to help formulate the new mining laws, starting this coming Monday, April 28.

Present from the Government were President Rafael Correa; Dr. Galo Chiriboga, Minister of Mines and Petroleum; Dr. Jose Serrano, Deputy Secretary of Mines; Dr. Agustin Paladines, Mining Advisor to the President; Fernando Alvarado, Advisor to the President; Ricardo Patino, Minister of Politics; and Dr. Ramon Torres, Business Advisor to the President. The Canadian Ambassador to Ecuador, Christian LaPointe, accompanied the companies and presented the concerns of the Canadian Government for a fair, stable and long-term investment environment in Ecuador.

Corriente continues to seek clarity from the Ecuador Government regarding the Mining Mandate's specific application to the company's operations over the next six months and will issue updates as information becomes available. The Company looks forward to working with the Ministry starting next week.


Corriente is moving towards construction of a starter operation at its Mirador copper-gold operation. Mirador is one of the few new, sizeable copper projects available for near-term production. Corriente controls a 100% interest in approximately 62,000 hectares located within the Corriente Copper Belt, Ecuador. The Belt currently contains four copper and copper-gold porphyry deposits: Mirador, Mirador Norte, Panantza and San Carlos, as well as six additional copper exploration targets. Corriente is currently in discussions with a number of potential partners about participation in the Company's Panantza - San Carlos Project.

Kenneth R. Shannon, CEO and President

Certain statements contained in this News Release announcing an update on the recently announced Mining Mandate in Ecuador constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including risks related to the exploration stage of the company's projects; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

Disclosure statements as required by National Instrument 43-101 are available at our website

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