Candente Resource Corp.
TSX : DNT

Candente Resource Corp.

August 15, 2007 22:32 ET

Candente Resource Corp.-Results for the Period Ending June 30, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2007) - Candente Resource Corp. (TSX:DNT) "Candente" announces its Second Quarter results for the period ended June 30, 2007. All amounts in this release are in U.S. dollars unless otherwise stated.

Candente incurred a total of US$6,221,204 on its mineral properties between January 1st and June 30th, of which US$4,995,708 was spent on its Canariaco Copper Project. Total expenditures on Canariaco since acquisition in 2002 total US$11,350,555.

On June 7th, 2007 the Company raised Cdn$17,120,831 through a brokered private placement whereby the company issued 13,169,870 shares. The private placement was carried out by a syndicate led by Westwind Partners Inc. and including Raymond James Ltd. in respect to investors outside of South America and by Credibolsa S.A.B. S.A. in respect of investors in South America. The net proceeds of the private placement will be used for funding exploration and development activities on the Company's mineral properties and for general corporate purposes. The Company is concentrating on advancing the Canariaco project towards production by carrying out feasibility and environmental studies including additional drilling and metallurgical testing. Exploration drilling is also underway at the El Oro gold and silver property in Mexico.

Amerigo Resources Ltd. subscribed for a significant portion of the private placement which, when combined with common shares of Candente purchased through the market, result in Amerigo holding approximately 9.9% of the outstanding common shares of Candente on an undiluted basis. Klaus Zeitler, President of Amerigo, was appointed to the board of Directors of Candente and Peter de Visser, resigned from the board of Directors and remains as CFO of Candente.

The Company received additional funding of Cdn$3,626,322 from the exercise 1,095,000 common share options at prices ranging predominantly from Cdn$0.33 to Cdn$0.85 inclusive of 10,000 options at Cdn$0.17 and the exercise of 2,256,938 warrants at Cdn$1.25 and Cdn$1.65.

The Company has a stock option plan: As at July 31, 2007 there were 8,745,000 stock options outstanding, of which 5,783,625 have vested and are "in the money". These options are potentially exercisable to generate $4,578,360 in additional funding.

The Company's Net Loss for the six month ending June 30th totaled ($1,799,418), or ($0.03) per share, compared to a loss of ($833,247), or ($0.02) per share, for the same period in the prior year.

The Financial Statements and Management Discussion and Analysis are available on the Company website www.candente.com.

Candente is a diversified copper and gold exploration company focused on increasing value through discovery for both shareholders and local stakeholders. Candente has an advanced exploration stage leachable copper project, Canariaco, and several other gold, copper and silver projects in Peru and Mexico. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.

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