Candente Resource Corp. ("the Company") is pleased to announce that it has closed the Private Placement referred to in the news release dated January 7th, 2002. A total of 4,869,002 units were sold to raise total proceeds of $730,350.30. All securities will be subject to a four month hold period expiring June 1st, 2002.
The funds will be used for general working capital and exploration programs on the Company's gold properties in Peru. Candente is currently exploring the Lunahuana property, a gold project with bulk tonnage potential in Central Peru. An extensive program of trenching and pitting is in progress over the Western Gold Zone where gold geochemical anomalies (up to 0.67 grams per tonne (gpt)) are associated with an intense and extensive geophysical (IP) anomaly.
The Investor Relations Agreement announced on August 24th, 2001 with Tranquilo Investments Inc., has expired. Wells Media Inc., wholly owned by Nancy Wells of Vancouver, B.C., has been hired to carry out communications and public relations services for the Company. These services are initially for a one month term and remuneration is $3,000 per month. Regular Investor Relations activities are being carried out by Company personnel.
Candente is a junior exploration company focused on the acquisition, exploration and development of world class gold and copper projects in Peru.
For more information on our current exploration progress visit www.candente.com and/or call Joanne Freeze at (604) 689-1957 or e-mail to info@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"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.
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.