Candente Resource Corp.
TSX : DNT
BVL : DNT

Candente Resource Corp.
Canaco Resources Inc.
TSX VENTURE : CAN

Canaco Resources Inc.

November 29, 2007 02:05 ET

Candente and Canaco Intersect 34 Metres of 45 Grams Silver Per Tonne at El Oro in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Candente Resource Corp. (TSX:DNT) ("Candente") and Canaco Resources Inc. (TSX VENTURE:CAN) ("Canaco") are pleased to announce final drilling results for the Phase 1 diamond drilling program at the El Oro gold-silver project located in central Mexico.

One of the highlights from these results is silver mineralization occurring over large widths at Veta Verde - 33.95 meters (m) (27.8 m estimated true width) grading 45.4 grams silver per tonne. In addition, strong silver mineralization was also encountered in intersections on the Borda and Coronas veins.

"The intersection of silver mineralization over significant widths on the Verde vein is encouraging and warrants additional deeper exploration," said Mike Casselman, Director of Candente. "Historically, mineralization in the El Oro camp has been dominated by silver in the upper parts of the precious metal vein system and therefore, the Verde, Borda and Coronas vein results are not only significant in their own right, but indicates the potential for improving gold grades with depth."



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Drill Estimated
From To Intersection true width Au Ag
Vein (m) (m) (m) (m) (g/t) (g/t)
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Verde VV-07-01
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288.15 322.10 33.95 27.80 0.20 45.4
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Including
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288.15 301.50 13.30 10.91 0.24 57.52
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307.20 312.30 5.10 4.18 0.37 80.4
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319.90 322.10 2.20 1.80 0.07 24.1
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387.80 420.40 32.60 26.73 80.00 12.1
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Borda VB-07-01
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57.65 58.95 1.30 0.92 67.00 80.9
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91.60 92.50 0.90 0.64 0.27 16.7
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211.95 216.40 4.45 3.16 0.17 1.6
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Coronas VCR-07-01
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49.05 51.00 1.95 1.42 0.75 276.8
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Including
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49.07 51.00 1.30 0.95 1.12 401.0
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223.15 228.10 4.95 3.61 0.45 42.1
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268.75 270.80 2.05 1.50 3.67 60.3
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VCR-07-02
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24.10 24.60 0.50 0.46 0.18 312.0
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164.35 167.90 3.55 3.27 0.12 1.3
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VCR-07-03
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173.70 182.35 8.65 5.10 0.10 29.8
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Including
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180.20 180.90 0.70 0.41 0.26 283.0
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These recent results are in addition to previously reported results from drilling targeted at the depth extension of the historic San Rafael vein system (See press release dated October 4th, 2007).

The Phase 1 program at El Oro is now complete and totalled 4095.55 m of drilling in 11 drill holes. The drill program targeted 4 holes on the San Rafael vein (one hole was lost but was re-drilled), 3 holes on the Coronas vein, 1 hole on the Borda vein and 3 holes on the Verde vein (2 holes were lost before reaching the target depth). The objective of this program was to test the depth extension of gold-silver veins that were the site of historic mining operations.

The Option agreement, entered into jointly (50/50) by Canaco and Candente, with Minera Luismin SA (Goldcorp) gives the combined companies the right to earn up to 100% interest in the El Oro property which comprises all of the 24 El Oro exploration and mining concessions (14,950 hectares - See News Release 166, dated May 12th, 2006). Canaco and Candente can earn up to 50% (25% each) by expending on exploration US $5M (US $2.5M each) and issuing 250,000 shares each over 3 years and can earn an additional 20% by expending an additional US $5M (US $2.5M each) over 2 years (US $10,000 for a total of 70% interest). Goldcorp has the right to stay at 30%, dilute to 6.5% NPI or earn-back in the 40% by spending US $25M on exploration and development within 4 years.

Major Drilling de Mexico, S.A. de C.V. was contracted to carry out the drilling program. Major Drilling supplied a truck mounted UDR 650 drill rig capable of performing RC drilling as well as core drilling with HQ, NQ, and BQ diameters. Drill core is cut on site using a rock saw. Half of the core samples are submitted to the assay lab for analysis while the remainder is stored in core boxes for future reference. A QA/QC program involving the use of 3 standard samples and a blank has been incorporated into the sampling regime for the project.

Samples are sent to ALS-Chemex Laboratories, an internationally recognized assay service provider. Sample preparation is done in Guadalajara, Mexico and analysis using ME-ICP41m and Au-AA24 in North Vancouver, Canada.

Additional information on the companies and the El Oro property is available at www.candente.com and www.canaco.ca.

Candente and Canaco have chosen to jointly explore at El Oro to take advantage of the companies' combined abilities and successful track records in exploration, discovery, project development and mining operations. The companies have formed a Mexican subsidiary named Minera CCM SA de CV to operate this joint venture. Piotr Lutynski, P.Eng. Consultant, Michael J. Casselman, P.Geo. and Director, Candente and Andrew Lee Smith, P.Geo. Chairman and CEO, Canaco, are the Qualified Persons as defined by NI 43-101 for the project discussed above and they have read and approved the contents of this release.

Joanne C. Freeze, P.Geo., President and CEO, Candente

Andrew Lee Smith, P.Geo., Chairman and CEO, Canaco

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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