Corriente Resources Inc.
TSX : CTQ
AMEX : ETQ

Corriente Resources Inc.

December 12, 2006 08:31 ET

Corriente Resources Inc.: Drilling Continues to Extend Copper Mineralization at Panantza

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12, 2006) - Corriente Resources Inc. (TSX:CTQ)(AMEX:ETQ) announced today assay results received from the most recent fourteen holes drilled at Panantza as part of its feasibility drill program. These results follow the results of ten additional holes announced in Corriente's last Panantza feasibility drilling news release on September 7, 2006. Based on the success of drilling at Panantza to date, the Company is in the process of planning more holes to continue expanding the copper deposit to the south and west.

Current drilling results include hole PA041 with 443 metres of 0.60% copper and hole PA052 with 276 metres of 0.77% copper.

Located in southeast Ecuador approximately 40 km north of the Mirador project, Corriente has uncovered and previously disclosed Inferred resources at Panantza of approximately 395 million tonnes grading 0.67% copper containing 5.8 billion pounds of copper. The main purpose of this most recent drilling program is to help define the southwestern edge of mineralization for an updated resource calculation for Panantza. This resource calculation will be utilized in the planned feasibility study. The deepest holes from this round of drilling (such as PA051) indicate mineralization extends more than 200 metres deeper than previous drilling in the southwest portion of the deposit and mineralization remains open for further extension at depth. The deposit is also still open to the south and west.

Results for the new holes are listed below and a map of the current round of drilling can be found at www.corriente.com. Leached intervals are indicated with hyphens.



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Hole From To Width Cu % Zone
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PA040 0 35 35 - leached
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35 58 23 0.48 mixed
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58 87 29 1.02 primary
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87 319.13 232.13 0.08 late dike
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PA041 0 57 57 - leached
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57 161 104 0.66 primary
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161 353 192 0.45 primary
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353 500 147 0.74 primary
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500 507.49 7.49 0.30 primary
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PA042 0 66 66 - leached
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angled 60 66 201.16 135.16 0.70 primary
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045 azimuth
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PA043 0 21 21 - leached
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21 232 211 0.41 primary
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232 249.93 17.93 0.13 late dike
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PA044 0 57 57 - leached
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angled 60 57 114 57 0.26 primary
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090 azimuth 114 291 177 0.40 primary
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291 370.33 79.33 0.27 primary
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PA045 0 289 289 0.18 primary
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angled 65 289 318.3 29.3 - late dike
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090 azimuth 318.3 323 4.7 0.34 primary
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323 432 109 0.61 primary
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432 445.62 13.62 0.24 primary
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PA046 0 58 58 - leached/primary
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angled 60 58 147 89 - late dike
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090 azimuth 147 158.49 11.49 0.10 late dike
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PA047 0 23.1 23.1 - overburden
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angled 75 23.1 266.7 243.6 0.12 primary
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090 azimuth
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PA048 0 41 41 - leached
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41 273 232 0.49 primary
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273 316 43 0.90 primary
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316 350.52 34.52 0.47 primary
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PA049 0 32 32 - leached
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angled 70 32 350.52 318.52 0.65 primary
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090 azimuth
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PA050 0 35 35 - leached
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angled 75 35 179 144 0.53 primary
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270 azimuth 179 304.8 125.8 0.36 primary
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PA051 0 29.5 29.5 - leached
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29.5 179.8 150.3 0.64 primary
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179.8 213 33.2 - late dikes
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213 251 38 0.19 late dikes
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251 460.85 209.85 0.72 primary
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PA052 0 17.37 17.37 - overburden
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17.37 293.8 276.43 0.77 primary
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includes 221 293.8 72.8 1.03 primary
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293.8 308.1 14.3 - late dikes
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308.1 316.7 8.6 0.75 primary
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316.7 320.04 3.34 - late dike
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PA053 0 18 18 - leached
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angled 60 18 102 84 0.67 primary
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260 azimuth 102 225 123 0.26 late dikes
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225 400.81 175.81 0.62 primary
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- All holes are drilled vertically except as indicated in the table


The Qualified Person for this disclosure is John Drobe, P.Geo, Chief Geologist. The assay laboratory is ACME Analytical Laboratories Ltd.

ABOUT CORRIENTE

Corriente is moving towards construction of a starter operation at its Mirador copper-gold operation. Mirador is one of the few new, sizeable copper projects available for near-term production. Corriente controls a 100% interest in over 60,000 hectares located within the Corriente Copper Belt, Ecuador. The Belt currently contains four copper and copper-gold porphyry deposits: Mirador, Mirador Norte, Panantza and San Carlos. Additional exploration activities will be ongoing, as six additional copper and copper-gold exploration targets have been identified in the Corriente Copper Belt to date.

Kenneth R. Shannon, Chief Executive Officer

Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com.

Disclosure statements as required by National Instrument 43-101 are available at our website www.corriente.com.

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