Candente Resource Corp.

Candente Resource Corp.

March 23, 2005 18:22 ET

Candente Resource Corp.: Preliminary Resource Estimate at Canariaco Norte


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANDENTE RESOURCE CORP.

TSX SYMBOL: DNT

MARCH 23, 2005 - 18:22 ET

Candente Resource Corp.: Preliminary Resource Estimate
at Canariaco Norte

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Candente
Resource Corp. (TSX:DNT) is pleased to report that an independent
preliminary mineral resource estimate has been completed on the
Canariaco Norte Zone of the Canariaco property, Northern Peru. This
estimate is considered to be very preliminary as this resource makes up
less than 15% of the volume of known mineralization. The report
estimates an inferred resource of 76.5 million tonnes grading 0.614%
copper and 0.099 grams per tonne (gpt) gold at a cut-off grade of 0.30%
copper. Contained metal in the resource equals 1,035 million pounds of
copper and 243,000 ounces of gold.

The surface expression of the preliminary resource is approximately 14
hectares, which is less than 15% of the surface expression of known
copper mineralization (114 hectares) in the Norte Zone, as currently
defined by 23 drill holes and surface copper showings. This zone extends
over a minimum length of 1.2 kilometres (km) and a minimum width of 1 km
and remains open laterally. In addition, several drill holes to date
have ended in copper grades of 0.55% to 1.00% indicating that the
deposit is also open to depth.

Joanne Freeze, President and CEO of Candente, states, "We are very
excited about the potential to develop a significant copper and gold
resource at Canariaco. We are particularly impressed by the consistency
of copper and gold grades in the deposit both vertically and laterally.
In addition to this, we also see potential for developing a leachable
chalcocite resource in the southern portion of the deposit where
preliminary leach testing of chalcocite mineralization showed 92%
recovery after 93 days."



PRELIMINARY INFERRED RESOURCE
--------------------------------------------------------------
Cut-off Copper Gold Contained Contained
Grade Tonnes Grade Grade Copper Gold
(% Cu) (Million) (% Cu) gpt (Million lbs) (Ounces)
--------------------------------------------------------------
0.5 58.5 0.672 0.104 866 195,000
0.4 71.0 0.634 0.101 992 230,000
0.3 76.5 0.614 0.099 1,035 243,000
--------------------------------------------------------------


Total silver content has not been estimated yet as analyses were not
available for all of the holes. The seven holes analysed to date show an
average of 2.5 gpt silver.

The 2005 drill program, planned to commence in early May, will focus on
expanding the resource at Canariaco Norte. The first target area will be
the central to southern portion of the known deposit where chalcocite
(leachable copper) dominates the copper mineralization. Two other
copper-gold porphyry targets on the property will also be investigated.
Environmental permitting is in progress, which will allow an additional
78 holes to be drilled on the property.

The Canariaco deposit is road accessible and situated on the eastern
slopes of the Andes. The area is sparsely populated however, a local
labour force is readily available and favourable to exploration and
development. Elevations range from 2500 to 3200m above sea level.

The mineral resource estimate is based on assay results from 2891.4
metres of drill core from a total of 3451.4 drilled in 15 holes of which
12 were drilled by Candente in 2004 and 3 were drilled in 1973 and 1995
by Ingemmet and Placer Dome. The Candente holes were drilled at 100
metre spacings. The estimations for the preliminary resource were capped
at a copper grade of 2.0% and a gold grade of 0.3 gpt. Independent
geologist James A. McCrea, P.Geo., and a Qualified Person as defined by
National Instrument (NI) 43-101, was responsible for the mineral
resource estimate dated March 23rd, 2005 Mr. McCrea has read and
approved the contents of this news release. The resource estimate is
classified as an Inferred Mineral Resource, consistent with the CIM
definitions referred to in NI 43-101. This estimate will be filed in a
Technical Report, compliant with NI 43-101 on SEDAR within 30 days.
Mineral resources, which are not mineral reserves, have not demonstrated
economic viability. Candente is not aware of any environmental,
permitting, legal, title, taxation, socio-political, marketing or other
issues which may materially affect its estimate of mineral resources.

The NQ-size core from the 2004 drill program was cut in half with a
diamond saw and sampled at two metre intervals on the property. One half
of the split core was collected by Candente's Peruvian geologists in
accordance with industry standards and submitted to Actlabs in Lima,
Peru for copper. Copper was analyzed by a four acid leach process on a
50 g split to give values for total copper, acid soluble copper, cyanide
soluble copper and residual sulphide copper. Pulps from some of the same
samples were sent to Actlabs laboratory in Ancaster, Ontario, Canada and
analysed for an additional 36 elements (including silver) using
Inductively Coupled Plasma (ICP). Gold analyses on all the holes were
carried out by Actlabs, Lima using Fire Assay Fusion and Atomic
Absorption method on a 50g split. Five percent of all core samples were
also sent to a second laboratory for check assays of total copper and
total gold. Quality Assurance and Quality Control (QA/QC), including the
use of sample standards, blanks and duplicates as well as chain of
custody was monitored by Candente.

The core from the 1973 drill program was collected along 2 metre lengths
and analysed for copper and molybdenum. The core sizes were NCD to 50 m
depth, NXWL to 170 m depth and BXWL for the remainder of the hole. A
total of 66 composite geological samples were analysed for total copper,
molybdenum, silver and gold. The "frio de la dithizina-benceno" assay
method (colorimetric analysis) was used. Analyses were carried out by
Plenge Laboratory in Lima and the laboratory of INGEMMET. Candente
cannot comment on the reliability of the sampling and analyses carried
out, however, the fact that this INGEMMENT hole (73-001) was twinned by
Candente's 04-008 hole and the results are very similar indicate that
the data is reliable.

The core from Placer Dome's 1995 drill program was sent to and analysed
by SGS-XRAL labs in Lima for copper, gold and molybdenum. No specific
information on how they handled the core is available, however data from
professional geologists of large companies is considered to be of high
quality. In addition, Joanne Freeze has direct experience working with
Placer Dome and believes that they would have had detailed QA/QC
programs in place at Canariaco. These would have included the use of
blanks, standards, and check assays.

Candente will host a conference call and webcast to discuss the
preliminary resource estimate on March 30th, 2005 at 10:00am PST / 1:00
pm EST. Participation can occur in one of two ways: to participate on
the conference call, please dial 416-695-5261 or toll free
1-877-888-4210 prior to the scheduled start time. The call will be
available for replay until April 13, 2005 by calling 416-695-5275 or
1-866-518-1010. Alternatively, the live webcast can be accessed through
the Company's website at www.candente.com, and will be archived on the
Candente website afterwards.

Maps and cross-sections can be viewed at:
www.candente.com/s/PeruProjects_Canariaco.asp

Michael Casselman, M.Sc., P.Geo., General Manager Exploration and
Director of Candente, and Joanne C. Freeze, P.Geo., President and CEO,
are the Qualified Persons (QPs) as defined by NI 43-101 for the project
discussed above and they have read and approved the contents of this
release.

On another matter, the Company is pleased to announce, pursuant to
section 4.11 of National Instrument 51-102, the appointment of Staley,
Okada & Partners, Chartered Accountants, of Vancouver, B.C., as its new
auditors, effective February 7th, 2005. The Company wishes to thank its
former auditors, Beauchamp & Company, Chartered Accountants, of
Vancouver, B.C., and advises that this change is due to the requirement
that the Company, being a foreign private issuer with the U.S.
Securities and Exchange Commission, have auditors who are registered
with the U.S. Public Company Accounting Oversight Board.

Candente is a diversified copper and gold exploration company. Our focus
is to increase shareholder value through discovery. Candente has an
advanced exploration stage copper project, Canariaco, and several other
gold and gold-copper projects in Peru and Newfoundland. Candente's
directors have individual track records in both the discovery and
development of multi-million ounce gold and silver, and multi-billion
pound copper deposits. Candente subscribes to principles, which ensure
that its exploration and development activities are beneficial to the
local communities.

ON BEHALF OF THE BOARD OF DIRECTORS

Joanne Freeze, P. Geo., President & CEO

Candente Resource Corp.

Release No. 126

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.


-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Candente Resource Corp.
    Joanne Freeze, P. Geo.
    President & CEO
    (604) 689-1957 or Toll Free 1-877-689-1964
    info@candente.com
    www.candente.com