2006 News

  • Near surface leachable copper zone expanded by 250 m to the east, 250 m to the west and 150 m to the north
  • Near surface leachable copper zone has surface expression of 87 hectares - a large expansion from the 14 hectare preliminary resource

Vancouver, British Columbia, February 7th, 2006, Candente Resource Corp. (DNT:TSX) ("Candente") is pleased to announce that it has received results for the re-analysis of core from 6 holes which were drilled prior to Candente acquiring the Cañariaco property. Original assays for these holes (drilled in 1973 and 1995) were only for total copper and did not determine leachable copper. The new results have expanded the near surface leachable copper zone to the east by 250 metres (m), to the west by 250 m and to the north by 150 m. In addition to the soluble (leachable) copper identified in all 6 of the holes, the new analyses confirm the previous total copper results.

The surface expression of all copper mineralization found to date at Cañariaco Norte now covers an area of 90 hectares (850 m by 1250 m). Of this, 87 hectares covers a near surface leachable copper zone, which varies in thickness from 15 to 347 m. Joanne Freeze comments that "both the leachable portion and the overall Cañariaco Copper deposit are proving to be many times larger than the preliminary inferred resource of 76.5 million tonnes grading 0.614% Cu and containing 1.035 billion pounds (lbs) of copper and 243,000 ounces of gold, which has a surface area expression of only 14 hectares and an average thickness of 246 m".

Hole 73-01 was not reassayed as it was duplicated by 04-001, which intersected 98 m of 1.00% Cu of which 80 m is leachable (65% leachable).

Hole From (m) To (m) Interval (m) Total Cu% % Leachable
73-02 92.00 120.00 28.00 0.48 63
within 92.00 128.00 36.00 0.48 56
73-03 79.50 95.00 16.00 0.66 71
within 79.50 107.00 28.00 0.61 51
73-04 66.40 105.00 39.00 0.53 61
  105.00 300.00 195.00 0.36 8
95-06 56.00 80.00 24.00 0.58 71
  110.80 165.00 54.00 0.38 56
95-07 45.50 60.00 14.50 0.69 83
  45.50 88.50 43.00 0.62 57
45.50 173.00 128.00 0.46 32
95-08 9.17 320.25 311.00 0.61 37
Included
above
205.40 233.00 27.60 0.54 81

Although the economics of all deposits differ, the following chart is provided as examples of leachable deposits either in production or nearing production.

 

Company Project Status Tonnes
(Million)
Grade
(%Cu)
Contained Cu
(M lbs)
Cu Production
Cost Estimates
(US$/lb)
Falconbridge Lomas Bayas , Chile Mine 572 0.28 3,530 0.47
Anglo American Mantoverde , Chile Mine 310 0.60 4,100 0.58
Codelco Gaby , Chile Under Cons. 616 0.42 5,707 Unknown
Frontera Copper Piedras Verdes, Mex Cons. for 2007 281 0.37 2,287 0.52
Phelps Dodge & Codelco El Abra , Chile Mine 800 0.55 3,980 0.44


Note: Corrected Since News Release dated January 5th, 2006.
Under Cons. = Under Construction
Cons = Construction

An Engineering Scoping Study is underway to assist in determining the optimum grade and throughput options required for an economic copper heap leach, SX-EW operation at Cañariaco. The study is being supervised by Merit Consultants of Vancouver, B.C. who have extensive international experience in such operations and is planned to be completed by the end of February 2006.

For more information such as maps, sections, drill data please refer to:
http://www.candente.com/s/PeruProjects_Cañariaco.asp.

Sampling and analytical procedures conform to NI 43-101 standards and are detailed in previous Candente news release dated September 7, 2005. All samples were submitted to Actlabs in Lima, Peru. Michael Casselman, P.Geo., GM Exploration and Director, Robert Van Egmond, P.Geo., Senior Geologist and Joanne Freeze, P.Geo., President and CEO are the Qualified Persons for the project as defined by NI 43-101 and Ms. Freeze has reviewed this news release.

Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. In addition to the Cañariaco Project, Candente has 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 Evelyn Cox or Bruce Korhonen at: (604) 689-1957 or toll free 1-877-689-1964; or info@candente.com www.candente.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 152

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.