In addition to previous investments, the Prudent Bear Fund, will now hold 4,188,550 shares of the Company, which is 19.8% of the total issued and outstanding shares of the Company. These shares were acquired for investment purposes. The Fund also holds a total of 505,000 Warrants of the Company (370,000 exercisable @ $0.20 if exercised by January 31, 2003 or @ $0.25 if exercised by January 31, 2004 and 135,000 exercisable @ $0.44 if exercised by May 16, 2003 or @ $0.49 if exercised by May 16, 2004.
Candente is also pleased to announce the appointment of Mr. Larry Kornze as a Director of the Board of Candente. Mr. Kornze joined the Company's Advisory Board as an Officer on October 4th, 2001 and on October 18th, 2002 became a Director. He remains in the position of Director of Business Development of the Company. In the year 2001, Mr. Kornze retired from Barrick Gold Corporation as the General Manager of Exploration for Mexico and Central America, and International Evaluations. Prior to working internationally, he was the US Exploration Manager for Barrick Gold Exploration Inc. and was involved with discovery of over 40 Million ounces of Gold in the Carlin Trend of Nevada. Prior to joining Barrick in 1985, Mr. Kornze held various positions with Newmont and Getty Mining Co. in North America. His exceptional 34 year career in international gold exploration brings invaluable experience to the Company, which will greatly assist Candente in advancing its' gold properties in Peru and Newfoundland.
On another matter, Candente's management invites you to meet Joanne C. Freeze, President & CEO and other Company personnel at the following conferences: Chicago Natural Resource and Technology Exhibition and Conference, Oct. 26 in Chicago, IL; CIM Conference Oct. 31 to Nov. 2 in St John's, Newfoundland; New Orleans Investment Conference, Nov. 7-10 in New Orleans, LA; and International Investment Conference, Dec.1-2 in San Francisco, CA.
For further details about Candente, please contact us at: 1-877-689-1964 or 604-689-1957 or investor@candente.com or visit our website at http://www.candente.com.
To view this news release on Candente's website, please go to:
http://www.candente.com/s/NewsReleases.asp?ReportID=43606
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
CANDENTE RESOURCE CORP.
The TSX 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.