* 3 holes to date bottom in copper mineralization
* Mineralization extended 600 metres south of 2004 grid and down to 500 metres in depth
* Warrants Expired, Dilution Decreased
Vancouver, British Columbia, July 6th, 2005. Candente Resource Corp. (DNT:TSX) is pleased to report that four holes of the Phase II diamond drilling program have been completed by subsidiary Exploraciones Milenio S.A. on the Norte Zone of the Cañariaco property in Peru. The current drilling contract has been increased from 3,500 metres (m) to 5,000 m to allow an increase in the number of holes to be drilled in Phase II. Additional phases are also expected to be drilled at Cañariaco this year. Permitting is in place to allow drilling of a total of 78 holes within a year. All holes have been drilled vertically and the following are final depths of the holes drilled to date.
DDH-05-013 135 m
DDH-05-014 501 m
DDH-05-015 270 m
DDH-05-016 375 m
Drill hole 05-013 was collared 150 m south of the area included in the Preliminary Inferred Resource and Candentes' Phase I 2004 drilling grid. Each successive hole has been drilled on a north-south line at approximately 150 metre spacings such that DDH-05-016 was drilled approximately 600 metres south of the Phase I drilling grid. DDH-05-017 has been collared 150 m south of DDH-05-016 (750 m south of the Phase I drilling grid).
The first drill hole, DDH-05-013, was stopped in copper mineralization short of the objective depth due to drilling difficulties. DDH-05-014 intersected copper mineralization to the bottom of the hole at 501 m. DDH-05-15 appears to have followed steeply dipping post mineral dykes for most of the hole. DDH-05-16 also ended in copper mineralization at 375 m and showed an increase in molybdenum content. Estimates of potential copper and molybdenum grades based on visual appearances will not be reported due to the common inaccuracy of such. Core samples are being submitted to Act Labs Skyline Peru SAC and assay results will be reported once received and compiled. Michael Casselman, P.Geo., Robert Van Egmond, P.Geo., and Joanne Freeze, P.Geo., are the Qualified Persons for the project as defined by NI 43-101.
Phase II drilling is focusing on expanding the preliminary inferred copper and gold resource at Cañariaco Norte which estimates 76.5 million tonnes grading 0.614% copper and 0.099 grams per tonne gold at a cut-off grade of 0.30% copper in an area covering only 300 m by 300 m (14 hectares) on surface. Contained metal in the inferred resource equals 1.035 billion pounds of copper and 243,000 ounces of gold.
Maps and cross-sections can be viewed at: http://www.candente.com/s/PeruProjects_Cañariaco.asp
The Company reports that 2,125,000 warrants have expired and therefore the number of common shares on a fully diluted basis now stand at 48,452,704. Warrants remaining in the Company are 312,500 exercisable at $1.00 per share until October 21st, 2005 and 300,000 exercisable at $0.70 per share until October 22nd, 2006.
Candente is a diversified copper and gold exploration company. Our focus is to increase shareholder value through discovery. Candente has an advanced exploration stage copper project, Cañariaco, and several other gold and gold-copper projects in Peru. Candente's directors have individual track records in both the discovery and development of multi-million ounce gold and silver, and multi-billion pound copper 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 email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 134
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.