Corriente Resources Inc.
TSX : CTQ
AMEX : ETQ

Corriente Resources Inc.

June 08, 2007 13:38 ET

Corriente Resources Inc.: Gold Asset Spin-Off to be Effective June 18, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) - Corriente (TSX:CTQ)(AMEX:ETQ) announces that the spin-off of Q2 Gold Resources Inc. ("Q2 Gold") approved by shareholders at the company's May 24, 2007 Annual and Special General Meeting is expected to close on June 18, 2007.

In the arrangement transaction (the "Arrangement"), Corriente will transfer its Caya 36 and Piedra Liza gold concessions to Q2 Gold in exchange for shares of that company, and then distribute those shares to Corriente's shareholders. The Arrangement has now been approved by the British Columbia Supreme Court. Under the Arrangement, Corriente shareholders will receive one (1) new Corriente common share and one-third of one (1/3) Q2 Gold share for every Corriente share held at the close of business on June 15, 2007.

Registered shareholders (i.e., those who personally hold a Corriente share certificate in their name) are reminded to send their Corriente share certificates and completed Letter of Transmittal to the depositary, Computershare Investor Services Inc., in order to receive their new Corriente shares and Q2 Gold shares. Shareholders who have their Corriente shares held with a financial services or brokerage firm will find that their account representative's back office will automatically look after this exchange procedure.

ABOUT CORRIENTE

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 over 60,000 hectares located within the Corriente Copper Belt, Ecuador. The Belt currently contains three copper and copper-gold porphyry deposits: Mirador, Panantza and San Carlos, as well as the Mirador Norte prospect currently under development. Additional exploration activities are ongoing, as six additional copper and copper-gold exploration targets have been identified in the Corriente Copper Belt to date.

Daniel A. Carriere, Senior Vice-President

Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com.

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