2006 News


Vancouver, British Columbia, July 11th, 2006. Candente Resource Corp. (DNT:TSX) ("Candente") is pleased to report that an extensive high sulphidation style gold-silver drill target has been identified on the Pamel property in Central Peru.

A highly resistive body with features typical of massive silica has been delineated over a length of 2 kilometres (km) and a width of 500 metres (m), by an Induced Polarization (IP) survey. Anomalous levels of gold, silver, lead, arsenic, barium, mercury and antimony in soils occur with or near the resistive body and continue for approximately 1 km to the north-east. It is unknown what occurs in the northern portion of the property beyond the northern extent of the surveys. The elements mentioned above are typical of high sulphidation gold-silver systems and the coincidence of them with the resistive body indicate that they are related to it.

The resistivity body occurs near surface and to a depth of at least 100 m and a high chargeability body occurs just below this. Vuggy silica often occurs at the interface between resistive and chargeable zones. Vuggy silica is the typical host rock for gold mineralization in high sulphidation deposits such as Yanacocha, Pierina and Alto Chicama (greater than 70 million (M) ounces (oz) gold) Peru. At Pamel, vuggy silica float has been found where the highest gold values occur in soil samples.

In addition, the host rocks at Pamel are of the same age and lithologies to those hosting the Pierina, Yanacocha and some of the Alto Chicama ore bodies. Clay alterations (alunite and dickite), typical in the deposits referred to above, are also present over large areas on the Pamel property.

Joanne Freeze comments "The addition of this new geophysical and geochemical data now makes the Pamel property the number one gold-silver priority for Candente in Peru.

Drilling permits have been applied for and drill testing of the targets at Pamel is planned to commence in the Fall of 2006.

The Pamel Property was named after the second daughter of Candente's co-founder, Ing. Fredy Huanqui, when he recognized alteration features similar to those he had recognized at Pierina in 1994. Huanqui named the Pierina gold project after his eldest daughter when he worked for Arequipa Resources Ltd. The Pierina deposit (8.7 M oz gold) was sold by Arequipa Resources Ltd. to Barrick Gold Corp. for US$700M in 1996.

Orex has the right to earn a 51% interest in the property by incurring exploration expenditures of US$2.5 million over 3.5 years on the property. Candente has the right to operate all exploration over the 3.5 years. In addition to the exploration expenditure commitments, Candente received 60,000 shares in Orex upon approval of the Agreement by the TSX Venture Exchange and will receive staged share issuances totalling 250,000 shares in Orex by January 31st, 2008.

Background/threshold and anomalous levels of the elements mentioned above and numbers of samples in each range are detailed below:

PAMEL PROPERTY GEOCHEMICAL ANOMALIES
  Level > # of Samples Level > # of Samples Level > # of Samples Level > # of Samples Level > # of Samples
Au ppb 10 990 30 427 100 85 200 22 300 10
Ag ppm 0.1 903 0.2 517 0.5 108 1.0 25 1.5 11
Hg ppb 100 1194 500 241 750 141 1500 57 2500 23
Sb ppm 5 873 15 217 30 69 50 22 70 10
Ba ppm 150 1125 250 298 350 95 500 31 700 6
Pb ppm 50 1046 100 354 150 162 200 81 400 11
As ppm 50 1905 500 289 1000 91 1500 57 2500 19

Exploration funded by Orex commenced in December 2005 and is continuing to date. A total of 2823 soil geochemical samples have been collected on lines spaced at 100 to 200 m with 25 m stations over an area covering 31.6 square km. In addition, a Pole-Dipole IP and Resistivity survey was completed over a total of 26.4 line km.

All soil samples were analyzed by a standard 36 element (including gold) ICP method. The samples were prepared by Acme Analytical Laboratories S.A. in Lima and a nominal 3 gram split of each sample was sent to Acme Analytical Laboratories Ltd. in Vancouver for ICP analysis. Acme Analytical Ltd. is an accredited analytical laboratory under ISO 9001:2000 guidelines.

The IP survey was carried out by Quantec Geoscience and consisted of 10 north-south survey lines at 200 m spacing. The "a" spacing was 100 m expanded through 6 separations (n=1 to 6). The resistivity and chargeability data was inverted with DCIP2D, a 2D inversion program from the University of British Columbia and checked by SJV Geophysics Ltd., Delta.

Maps and photos can be viewed at: http://www.candente.com/s/PeruProjects_Pamel.asp

Michael J. Casselman, M.Sc., P.Geo. General Manager Exploration and Director, Robert van Egmond, P.Geo., Senior Geologist are the Qualified Persons as defined by NI 43-101 for the project discussed above and Joanne Freeze is the Qualified Person who has read and approved the contents of this release.

Orex has decided to drop their option on the El Tigre property also optioned from Candente as they believe that the Pamel gold and silver targets deserve their full attention and funding.

The Las Sorpresas Property remains under option from Candente to Orex but is not currently active in exploration while community contracts are being negotiated.

Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities.

Orex is a junior mineral exploration company, comprised of highly qualified mining professionals with a current focus on the exploration of prospective gold properties in Peru. Management is actively engaged in the acquisition of new properties in South America.

Joanne Freeze, P. Geo.
President & CEO
Candente Resource Corp.
Release No. 171

Gary Cope
President & CEO
Orex Ventures Inc.

For further information from Candente, please contact Kelly Gray or Evelyn Cox at: (604) 689-1957 or toll free 1-877-689-1964
info@candente.com
www.candente.com.

For further information from Orex, please contact Investor Relations at: (604) 684-4691
info@orexgold.com
www.orexgold.com.

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.

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.

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