2001 News

Subject to regulatory approval, Candente Resource Corp. has agreed to sell by Non Brokered Private Placement to a majority of arm's length investors a maximum of 3,500,000 units at $0.20 to raise a total of Cdn$700,000. Each unit will comprise one share and one non-transferable share purchase warrant. One whole non-transferable share purchase warrant allows the placee to purchase one previously un-issued share of the company for $0.25 cents for a period of twelve months and for $0.35 cents for the ensuing twelve months. A finders' fee will be paid to registered dealers who make introductions to placees.

The funds will be used for the advancement of the Company's wholly owned Cañariaco Copper Project and for working capital. The proposed work program will include a minimum of 2,000 metres of diamond drilling to be followed by metallurgical-leach testing with the goal of confirming and expanding the leachable chalcocite zone. Previous drilling by Billiton identified the potential for 100 million tonnes or more of leachable copper at grades from 0.6 to 1.25 percent. This mineralization is believed to be amenable to the low cost SX-EW process. The leachable zone, part of a porphyry system called Cañariaco Norte, is open both vertically and horizontally in all directions. Previous copper leach testing indicated recoveries of 85 to 90 percent with a 0.78 percent head grade in the leachable zone. The strip ratio is indicated to be less than 1:1 (waste/ore). A much larger target of primary (chalcopyrite) mineralization at Cañariaco Norte will also be partially tested by this program as the deepest hole to date does not exceed 300 metres.

The Cañariaco Property is located 110 km by air from port facilities and Chiclayo, a major northern Peruvian city. Current road access is 150 kilometres and a major (paved) highway lies 15 kilometres north of the property. Cañariaco lies approximately 25 kilometres northwest of the La Granja Porphyry Copper deposit recently acquired by Billiton.

Candente Resource Corp. www.candente.com is actively exploring and holds interests in epithermal gold, disseminated copper and copper-gold and VMS prospects in Peru. For more information contact us at (604) 689-1957 or at investor@candente.com.


"Joanne C. Freeze"
Joanne 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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