2001 News

The Company is pleased to report that Frank J. Nelson, M.Sc., a member of Candente's Advisory Board (33 years associated with Freeport McMoRan) and Ian McCartney, P.Eng., Independent Consultant, strongly recommend that the company complete the acquisition of the Cañariaco project in Northern Peru. Candente's subsidiary, Cia. Minera Oro Candente S.A. won the right to acquire 100% interest in the Cañariaco Property for a total of US$75,000 in an auction on February 14th, 2001. US$7,500 has been paid to date and the balance is due on April 4th, 2001.

Some of the key features identified by Nelson and McCartney are as follows:
- Potential in the order of magnitude of 100 million tonnes or more of leachable copper at 0.6 to 1.25% copper with a strip ratio which could be <0.5 / 1 (waste/ore).
- Copper leach testing commissioned by Geomet S.A. of Chile indicated recoveries of 85 to 90%.
- Power is currently available within 50 kilometres of the property but planned installations could decrease this distance considerably. Hydro potential within the property is also a possibility.
- Exploration recommendations are for infill drilling and additional metallurgical testing.
- Located 100 km by air from the coastal city of Chiclayo and 10 kilometres from a major highway with current dirt road access.
- The leachable zone is hypogene chalcocite which represents a hypogene high sulfidation enrichment of a larger mineralized porphyry system.
- A larger potential for 320 million tonnes at ~0.5% copper includes a chalcopyrite zone below the enriched chalcocite zone which could also be a target for eventual low strip ratio production with floatation or sulfide leach process.
- Two additional poorly explored mineralized porphyry targets (Canariaco Sur and Quebrada Verde) occur on the property
- The deposit lies 25 km northwest of La Granja, (recently acquired by Billiton) at the north end of the Cajamarca District, a major cluster of significant porphyry copper (+/- gold) and high sulfidation gold deposits extending over 165 km which includes La Granja, Tantahuatay and Yanacocha.

Knight Piesold Ltd., Engineering Consultants, have been contracted to review available data and conduct a site visit to locate potential sites for heap leaching and to identify any obvious obstacles to developing an SX-EW mine infrastructure on the property.

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


"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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