Candente Resource Corp. DNT:TSX-V ("Candente") is pleased to announce that the Company has entered into a Strategic Partnership Agreement with Goldcorp Inc. - GG:NYSE; G:TSX ("Goldcorp") to conduct exploration in Newfoundland. Goldcorp became a major shareholder (5%) in Candente in February of 2003 by purchasing 1.7 million shares in the Company for a total of $1,020,000 through a non-brokered private placement. This was the first step in the strategic partnership between Goldcorp and Candente, which allows Goldcorp access to Candente's expertise in gold exploration and Newfoundland.
This partnership with a premier gold producer validates Candente's belief that Newfoundland has excellent potential for hosting economic gold deposits. "We are excited about taking this next step and advancing several of our Newfoundland properties", summarizes Joanne Freeze, President and CEO of Candente.
The agreement allows Goldcorp to earn up to a 70% interest in either or both of the Staghorn and Linear gold properties by assuming all of Candente's expenditure obligations and completing bankable feasibility studies by January 2010. The option may be extended beyond the six-year period providing expenditures have reached a minimum of $1,000,000 per year by 2009.
The agreement also grants Goldcorp a Right of First Offer on other properties currently held or acquired in the future by Candente in Newfoundland subject to termination on certain events and time periods.
Candente entered Newfoundland on the recommendation of Larry Kornze, (ex-Barrick), Director of Candente, who stated "Newfoundland could host another Carlin Belt (100 million ounces gold hosted by sedimentary rocks) and we don't want to miss it, besides there is too much gold to ignore." Candente's exploration to date has identified not only sediment-hosted potential but also other world-class gold potential such as orogenic and epithermal styles.
On the Staghorn Property, mineralization styles, host rocks, structural setting and geochemical signatures found to date are all typical of intrusion hosted-orogenic deposits such as the 175 and 19 million oz gold deposits at Muruntau and Kumtor in Central Asia.
Crews have commenced line-cutting in preparation for an IP (Induced Polarization) survey which will be carried out over a three kilometre (km) length (30 km) grid covering three gold zones on the Staghorn property. Gold values range from 0.5 to 25.7 grams per tonne (gpt) in rock chip samples.
Candente is a well-funded mineral exploration company focused on the acquisition and exploration of world-class gold and copper projects. Management has a strong geological/technical focus and a track record of discovering world-class mineral deposits. Candente has a policy of ensuring 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.
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. Candente relies upon litigation protection for forward looking statements.