Vancouver, British Columbia, May 15, 2006. Candente Resource Corp. (DNT:TSX) (Candente) is pleased to announce its First Quarter results for the period ended March 31, 2006. All amounts in this release are in U.S. dollars unless otherwise stated.
The Net Loss for the period ending March 31, 2006 totaled ($620,949), or ($0.01) per share, compared to a loss of ($320,344), or ($0.01) per share for the same period in 2005.
During the first quarter the Company received an additional $200,000 in exploration advances from its option agreement with Gallipoli Mining. These funds were used to partially fund the Phase I drill program on the Alto Dorado property that was carried out in early 2006. This agreement has since been withdrawn.
The Company also received $203,235 in exploration advances from option agreement Orex Ventures for work to be completed on the Pamel and El Tigre properties.
Outstanding Share Data
The Company has one class of common shares: as at April 30 there were 49,301,444 common shares outstanding.
The Company received additional funding of Cdn$76,600 from the exercise 100,000 common shares options at Cdn$0.70 and 20,000 common share options at Cdn$0.33.
The Company has a stock option plan: As at April 30, 2006 there were 5,871,000 stock options outstanding, of which 4,168,188 have vested.
The Company has a total of 3,255,698 warrants outstanding as at April 30, 2006 exercisable at Cdn$0.70 and Cdn$1.25, expiring October 22, 2006 and March 31, 2007.
Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. Candente has an advanced exploration stage leachable copper project, Cañariaco, and several other gold, copper and silver projects in Peru. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.
For further information please contact Joanne Freeze or Evelyn Cox at:
(604) 689-1957 or toll free 1-877-689-1964; or
info@candente.com
www.candente.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.