On the Eastern Pond Property, results from previous explorationists include 23 grams per tonne (gpt) and 5.27 gpt in grab samples and 0.8 gpt over a one meter interval. Grab samples from a silicified zone contained 1 to 2 gpt.
On adjacent claims held by Candente (100%), float samples were as high as 10.8 gpt. Bedrock samples of up to 2.7 gpt occur in one zone and 1.9 gpt in another. Anomalous levels of gold in soils were as high as 1.4 gpt.
Candente now holds a total of 143 claims in the Eastern Pond Area, 78 directly by staking and 65 under option from Kriask.
Many alteration features and geochemical signatures found to date are consistent with a Carlin mineralization environment. These include: extremely silicificified sedimentary rocks, jasperoids, quartz breccias and disseminated sulphides in shales, anomalous arsenic levels.
The Company has optioned the Eastern Pond Property from the KriASK Syndicate of Newfoundland. Option terms include: cash payments totalling Cdn$139,240; issuance of a total of 228,000 common shares; and an aggregate of Cdn$756,600 in exploration expenditures over the next five years. The Company has the right to acquire a 100% interest in the property subject to a 2.5% NSR. The NSR may be reduced to 0.5% with the Company making certain payments.
Management is very pleased by the announcement that Inco will start development of the $1.9 billion Voisey's Bay mining project, also in Newfoundland. Inco's planned investment of $35 million by the end of March, 2003 strongly endorses Newfoundland as an excellent location for developing mines.
On another matter, management is pleased to announce that Lola Montagne has been appointed to the position of Corporate Secretary and Treasurer. Lola started with the Company on May 15th, 2000, as Executive Assistant and during the past two years has taken over the duties of Secretary and Treasurer. Lola replaces David McCue in this position and the Company is very appreciative for Mr. McCue's efforts on behalf of the Company. Mr. McCue continues to serve the Company as legal counsel.
The Company would also like to advise that it has moved office locations to Suite 200 - 905 West Pender Street, Vancouver, V6C 1L6. Telephone, fax and emails have not changed.
Candente is a junior exploration company focused on the acquisition, exploration and development of world-class gold and copper projects. For more information on our current exploration progress visit www.candente.com and/or call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to investor@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.