2002 News

Release No. 55

Candente Resource Corp. (Candente) is pleased to announce that a new gold zone has been discovered on one of the Company's wholly owned Botwood Basin properties. Gold mineralization occurs along a structural trend exceeding 3 km in length on the Virgin Arm property. Visible gold occurs in blebs up to 0.5 cm wide in bedrock with assays as high as 127.0 gpt (4.1 opt) Au and 82.2 gpt (2.6 opt) Au. Five showings have been identified to date along the three kilometre long zone. In addition to the higher grades associated with visible gold, assays ranging from 0.5 to 8.0 gpt Au occur with disseminated arsenopyrite and pyrite mineralization in pervasively altered zones. In one showing alone, mineralization has been found in three locations over an area covering nearly one kilometre square.

Most of the visible gold to date occurs in extremely altered siliceous zones and bodies believed to be quartz feldspar porphyries. Alteration includes carbon/pyrite (shaley units) and orpiment, massive grey sulphide-bearing silica cut by multiple events of quartz veining. In addition, localized arsenopyrite stringers occur. Wallrocks include shales/siltstones/greywackes/limestones as well as pillow basaltic debris flows and fine siliceous sediments.

A sixth showing similar to the others occurs 2 kilometres north of the main zone. Coarse angular gold has also been found by panning the soils along the structural trend. In addition to visible gold mineralization, abundant disseminated and veinlet-controlled arsenopyrite occurs in the sediments and felsic bodies.

Candente's exploration in Central Newfoundland is being conducted at the recommendation of Larry Kornze, who recently retired as Exploration Manager for Barrick Gold and was involved with the discovery of over 40 Million ounces of Gold in the Carlin area of Nevada. Barrick and other companies are exploring for gold mineralization similar to that of the Carlin Trend of Nevada in Newfoundland. The Company has acquired several properties in Newfoundland which total in excess of 1500 gold claims (37,500 hectares).

On another matter, management is pleased to announce that Nadia Caira, P.Geo. (Argonaut Gold Odyssey Inc.) has joined Candente's exploration team as Exploration Manager, Newfoundland. Nadia brings to the Company over 20 years of mineral exploration experience with both junior and senior companies worldwide.

The Company has granted Incentive Stock Options to a group of directors, employees and consultants in the amount of 900,000 shares at a price of $0.33 for a period of five years. The options are subject to acceptance by the Canadian Venture Exchange.

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 at 1-877-689-1964; or e-mail to: investor@candente.com


"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO

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.

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