2004 News

Release No. 119

Vancouver, British Columbia, December 16th, 2004. Candente Resource Corp. (DNT:TSX) is pleased to report that analytical results have been received for the final three holes (DDH 04-007, 011 and 012) of the 2648 metre (m) twelve hole core drilling program on the 100% owned Cañariaco copper project in Northern Peru. The twelve holes were drilled vertically as part of a systematic pattern on a grid with 100 metre centres to test the continuity of copper mineralization and provide sufficient information for the Company to prepare a preliminary resource estimate, which consultants will be preparing in early January. Mineralization and grades encountered in all drill holes reported to date are consistent with those seen in large porphyry copper-gold systems.

Surface work and drilling to date indicates a mineralized system with a lateral extent of at least 1.0 by 1.2 kilometres (km). Results from the recent twelve holes have delineated significant and continuous copper mineralization over an area of 300m by 300m laterally. The combination of current and previous drilling within the 100m grid area has intersected copper mineralization over a 396m vertical extent. (See cross section A-A' at: http://www.candente.com/s/PeruProjects_Canariaco.asp. The 100 metre drilling grid only covers 7.5% of the known mineralized system (1.0km by 1.2km).

Copper grades in the mineralized zones in the twelve holes average 0.7% Cu over an average width of 151 m with individual intersections ranging from 0.45%/137m; 0.71%/234; 0.85%/205m; 1.01%/96m. All of the twelve holes bottomed in significant copper mineralization grading from 0.54% to 1.00%Cu. These figures do not include three lesser mineralized zones which intersected late mineral rock units. The copper mineralization is open in all directions both laterally and vertically.

One hole has also been assayed for precious metals and found to contain levels of gold and silver that are of economic interest: 234m of 1.12gpt Au and 2.00gpt Ag including 96m of 1.13gpt Au and 2.75gpt Ag. All holes have now been submitted for precious metal analyses.

Grades for all holes are summarized below. A map and cross sections showing drill hole locations are posted on the Company's website at: http://www.candente.com/s/PeruProjects_Canariaco.asp.

Initial microscopic analysis of drill core indicates the main copper minerals to be chalcocite, chalcopyrite, covellite and bornite. All core from drilling was cut in half with a diamond saw and sampled at two metre intervals on the property. One half of the split core was collected by Candente's Peruvian geologists in accordance with industry standards and submitted to Actlabs in Lima, Peru. Total copper analyses and a sequential leach procedure for acid soluble copper, cyanide soluble copper and residual sulphides is being carried out by Actlabs laboratory in Lima, Peru. Pulps from some of the same samples are being sent to Actlabs laboratory in Ancaster, Ontario, Canada and analysed for an additional 36 elements (including silver) using Inductively Coupled Plasma (ICP). Gold analyses on DDH-04-001 were carried out by Actlabs, Lima using Fire Assay Fusion and Atomic Absorption method on a 50g split. Five percent of all core samples will also be sent to a second laboratory for check assays of total copper. Quality Assurance and Quality Control, including the use of sample standards, blanks and duplicates as well as chain of custody is monitored by Candente. Mike Casselman, M.Sc., P.Geo., General Manager Exploration and Director of Candente and James Currie, P.Eng., Director of Candente are the qualified persons as defined by NI 43-101 for the Cañariaco project and have verified the information and read and approved the contents of this release.

Candente is a well-funded mineral exploration company focused on the acquisition and exploration of gold and copper projects with world-class potential. Management has a strong geological/technical focus and a track record of discovering world-class mineral deposits. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities. For more information visit www.candente.com, call us at (604) 689-1957, toll free 1-877-689-1964 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.

Release No. 119

 

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. Candente relies upon litigation protection for forward-looking statements.