2001 News

Candente Resource Corp. is pleased to announce that further to our News Release dated May 22nd, 2001, the Company has raised $253,140 by issuing 500,000 units to a London based group and 765,700 units to a North American Fund at $0.20 per unit for at total of 1,265,700 units. Each unit comprises one share and one half non-transferable share purchase warrant. The units have a hold period of four months from the date of issue, which was June 22nd, 2001. One whole non-transferable share purchase warrant allows the placee to purchase one previously un-issued share of the company for a period of eighteen months for $0.25 cents.

Candente Resource Corp. is an aggressive junior exploration company with advanced gold and copper projects in Peru. The funds will be used for general working capital and exploration programs on the company's gold properties in Peru. These investors recognize Candente's expertise in gold exploration, it's advanced portfolio of gold properties and Peru's stature as one of the top low cost gold producing regions of the world.

As gold explorationists, Candente management is optimisitic with the latest edition (May 1st, 2001) of "The Long Wave Analyst" (an investment newsletter based on the Kondratieff economic cycle), which poses compelling arguments for a significant forthcoming increase in the price of gold. Please contact us for a free copy of this newsletter.

Management is also very encouraged by a recent analysis of data on the Cañariaco Property, particularly in light of recent market interest in other comparable porphyry copper projects. Candente recently acquired 100% interest in this project where previous drilling and leach testing indicate the potential for a leachable copper target, which could be a 100 million tonnes (Dr. R. Sillitoe) or more and would have a strip ratio of less than 1:1. The next stage of exploration required on the property is additional drilling and metallurgical (leach) testing to confirm and expand upon results from prior exploration programs.

The Company is also pleased to observe that Peru has elected a new government whom is promoting capitalism, foreign and private investment as major components of its' mandate. President elect, Alejandro Toledo and new Finance Minister, Pedro Pablo Kaczynski are both US trained economists. The International Community has reacted favourably to the election results and recent announcements for a further 11 billion US dollar investment in mining infrastructure development by the Minister of Energy and Mines for Peru.

For more information regarding Candente Resource Corp. and our exploration in Peru please visit www.candente.com or contact us at (604) 689-1957 or investor@candente.com.


"Joanne C. Freeze"
Joanne C. Freeze, P. Geo., President & CEO
Candente Resource Corp.

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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