VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 25, 2014) - Candente Copper Corp. (TSX:DNT)(LMA:DNT)(PINKSHEETS:CCOXF) ("Candente Copper" and/or the "Company ) is pleased to announce that Mr. Federico Oviedo has joined the Board of Directors as an Independent Director.
"I am excited to join the Candente Copper board of directors, a team of experience with quality projects, such as the emblematic Cañariaco, and with this I commit my best efforts to achieve the goals set forth for the benefit of the shareholders and all stakeholders," said Mr. Oviedo.
"We are extremely pleased to have Federico join our team and share with us his in-depth knowledge of business and the investment community in Peru," commented Joanne Freeze, CEO Candente Copper.
Mr. Oviedo has been a key member of the Bolsa de Valores de Lima S.A. (Lima Stock Exchange "BVL") since 1979, acting as its General Counsel from 1990, and as its CEO from 2001 until June 2009. At the BVL, among other projects, he promoted and developed the Junior Market - Segmento de Capital de Riesgo (Venture Capital Segment) - corporate government issues for the Peruvian markets and internationalization and integration of the securities market.
While with the BVL, Mr. Oviedo actively participated in various commissions to reform stock market law, from 1990 to 2008. He has also been a member of the Latin American Corporate Governance Roundtable organized by the OECD, IFC and the World Bank 2000-2006.
Currently Mr. Oviedo is a consultant in corporate and capital market issues and until recently (November 28, 2013) he was a member of the board of BNB Valores Peru Solfin Sociedad Agente de Bolsa S.A. (Peruvian brokerage house). He was previously a member of the board in DATATEC S. A., having been its Vice-Chairman in 2004, 2006 and 2008 and also served as Independent Director of Cobriza Metals Corp. 2011-20013.
Mr. Oviedo graduated in law from the Pontificia Universidad Católica del Perú and completed finance studies at ESAN Business Administration School also in Peru.
About Candente Copper
Candente Copper is a mineral exploration company engaged in the acquisition, exploration and development of mineral properties. The flagship project is the 100% owned, 7.5 billion pound, Feasibility stage Cañariaco Copper Project located in northern Peru's prolific mining district. A Measured and Indicated* resource of 752.4 million tonnes grading 0.49% copper equivalent**, and an Inferred Resource of 157.7 million tonnes at 0.44% copper equivalent has been delineated in the Cañariaco Norte deposit. The Cañariaco property also covers the nearby Cañariaco Sur copper gold porphyry system and the Quebrada Verde copper gold porphyry target. In addition, Candente Copper holds several other base metal exploration projects in Peru. One of these, the Arikepay copper-gold porphyry, is being explored under a joint venture agreement with Zahena S.A.C. who is funding up to USD$5 million (M) in exploration expenditures and USD$4M in payments within 4 years.
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo., CEO, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release. *The 'Measured and Indicated Resource' listed above consists of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and 2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at 0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (o.46% Cu Eq.). All resources quoted in this release are based on a 0.30% copper cut-off grade and 229 drill holes completed to March 2008. **Copper equivalent grade including gold and silver, metal recoveries (copper 90%, gold 55%; silver 50%) and smelter returns (copper 96.5%: gold 93%; silver 90%) applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x 31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices used are: copper US$2.50/lb, gold US$1,035/oz and silver US$17.25/oz.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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 Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
Joanne C. Freeze, P.Geo., CEO, Director & Chair