Candente Resource Corp.

Candente Resource Corp.

October 23, 2006 05:00 ET

Candente Intersects 489 Meters of 0.52% Copper and 355 Meters of 0.67% Copper in Higher Grade Core at the Canariaco Norte Copper Project in Northern Peru

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 23, 2006) - Candente Resource Corp. (TSX:DNT) ("Candente") is pleased to report that two additional drill holes have intersected the higher grade core at Canariaco Norte Copper Project in Northern Peru. The first two holes (06-057 & 06-058) of the Phase IV program, intersected 355 meters (m) of 0.67% copper (Cu) and 489 m of 0.52% Cu, respectively, in the south-western portion of the higher grade core.

Hole 06-058 was stopped in grades of 0.52% Cu at a depth of 499 m due to technical difficulties with the drill. A larger drill is now on the property and expected to be able to core to depths of 700 to 800 m. Both drills are operating 24 hours a day 7 days a week.

Phase IV Drill Results

From To Interval Copper Grade
Hole No. (m) (m) Metres Feet (%)
06-057 21 376(i) 355 1164 0.67
includes 82 126 44 144 0.88
06-058 10 499(i) 489 1604 0.52
includes 10 201 191 626 0.66
includes 10 60 50 164 0.75
(i) End of Hole

In addition to being high grade, both holes 06-057 & 06-058 have significant portions that are highly leachable. Hole 06-057 was drilled 100 meters (m) west of hole 04-008 (260 m of 0.64% Cu of which 156 m is 0.73% Cu) and hole 06-058 was drilled 70 m south of hole 04-008.

Complete results, maps, cross-sections and all reports can be viewed at:

Sampling and analytical procedures conform to NI 43-101 standards and are detailed in a previous Candente news release dated September 16, 2004. All samples were submitted to Actlabs in Lima, Peru. Michael J. Casselman, M.Sc., P.Geo. General Manager Exploration and Director, Robert van Egmond, P.Geo., Senior Geologist and Joanne C. Freeze, P.Geo., President and CEO, are the Qualified Persons as defined by NI 43-101 for the project discussed above and Joanne Freeze has read and approved the contents of this release.

Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities.

Joanne Freeze, P.Geo., President & CEO

Release No. 182

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.

Contact Information

  • Candente Resource Corp.
    Kelly Gray
    (604) 689-1957 or Toll Free: 1-877-689-1964
    Candente Resource Corp.
    Evelyn Cox
    (604) 689-1957 or Toll Free: 1-877-689-1964