Candente Gold Corp.
TSX : CDG

Candente Gold Corp.

December 04, 2015 04:00 ET

Candente Gold Announces the Resignation of Dr. Peter Megaw as Independent Director

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2015) - Candente Gold Corp. (TSX VENTURE:CDG) ("Candente Gold" and/or the "Company") announces the resignation of Dr. Peter Megaw from his position as Independent Director as of November 26th, 2015 for personal reasons. Dr. Megaw has been a dedicated member of the Board of Directors of Candente Gold Corp since the Company was started in 2009 and prior to that a dedicated member of the Board of Directors of Candente Resource Corp since 2005 and we thank him for his valuable service. Dr. Megaw will remain associated with the Company in the capacity of Consultant which given his extensive knowledge of gold exploration in Mexico we consider to be extremely valuable.

About Candente Gold

Candente Gold's flagship asset is El Oro, a district scale gold project encompassing a well known prolific high grade gold dominant silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores)

Modern understanding of epithermal vein systems indicates that several of the El Oro district's veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.

Current focus is the evaluation of potential for historic tailings or historic mined areas to generate near-term cash flow. Both tailings and remnant mineralization are left from pre-1930s mining of the Mexican Mine in the El Oro District. The historic mines and tailings are adjacent to existing road access, power and water services.

Forward-looking Information

This news release may contain forward-looking information (as such term is defined under Canadian securities laws) including but not limited to information regarding the processing of tailings to generate short-term cash flow, the potential for discovery in the El Oro district and other statements that are not historical facts. While such forward-looking information is expressed by Candente Gold in good faith and believed by Candente Gold to have a reasonable basis, they address future events and conditions and are therefore subject to inherent risks and uncertainties including those set out in Candente Gold's MD&A. Factors that cause the actual results to differ materially from those in forward-looking information include, without limitation, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, potential environmental issues, availability of capital and financing and general economic, market or business conditions. Candente Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

On behalf of the Board of Candente Gold Corp.

"Joanne Freeze" P.Geo., President & CEO

Contact Information

  • Walter Spagnuolo
    Manager, Investor Relations
    mobile: +1 (604) 306-8477
    local: + 1 (604) 689-1957 ext 3
    toll free: 1 (877) 689-1964 ext 3
    info@candentegold.com

    Nataly Reategui
    Investor Relations, Peru
    (511) 715-2001 ext 107
    (511) 717-1233 (FAX)
    nreategui@candente.com