Mr. Thicke has 30 years of global exploration experience, and is a recognized expert on porphyry copper systems. He has extensive experience in porphyry exploration in South America as District Geologist for Rio Algom (now BHP Billiton) in Chile, where he was a key member of the team that discovered the large scale Spence porphyry copper deposit. Mr. Thicke and his fellow exploration team members were awarded the prestigious Prospector of the Year Award by the Prospectors and Developers Association of Canada for this discovery in 1998. The Spence deposit commenced production in 2006.
More recently, Mr. Thicke was a senior member of BHP Billiton's Global Porphyry Exploration group, leading teams for the exploration and evaluation of porphyry copper deposits.
Mr. Thicke will be based in Vancouver where he joins Sean Waller, President and Joanne Freeze, CEO as a key member of the Candente Copper management team. "We are very pleased to have such an experienced and successful porphyry copper expert join Candente Copper to lead our exploration team," stated Sean Waller.
"The acquisition, discovery and delineation of the Cañariaco Norte copper deposit has already demonstrated the Candente team's ability to discover and develop copper projects," said Mr. Thicke. "The two additional porphyry copper targets delineated on the Cañariaco property - Cañariaco Sur and Quebrada Verde - give this project exceptional upside potential. I am very pleased to join the Candente Copper team, and I look forward to working on Cañariaco and the large portfolio of promising early stage copper projects we hold in Peru."
A number of Candente Copper's portfolio of 11 exploration projects are situated in the prolific Southern Peru Porphyry Belt. This belt hosts the Cerro Verde, Cuajones and Toquepala copper mines, the Quellaveco copper deposit of Anglo American, and the recently joint-ventured Zafranal copper-gold project of Teck and AQM Copper.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.7 billion pound, feasibility stage Cañariaco Norte Copper Project located in northern Peru's prolific mining district. The Cañariaco Norte deposit contains a Measured and Indicated resource of 622 million tonnes grading 0.52% copper equivalent, and an Inferred Resource of 128 million tonnes at 0.47% copper equivalent. The deposit contains 102 million tonnes in a high grade near-surface resource zone at 0.61% copper equivalent.*
A positive Preliminary Economic Assessment was completed on the Cañariaco Norte Copper Project by SRK Consulting in late 2008, which shows robust economics at both current and consensus long term copper prices. Since this report was published, a number of factors have been identified which have the potential to significantly improve the project's economics.
Candente Copper has now resumed feasibility studies on the Cañariaco Norte copper project. A Pre-Feasibility Study is slated for completion in Q4 2010, with the full Feasibility Study to follow. Exploration on the Cañariaco Sur and Quebrada Verde copper projects, as well as a number of Candente Copper's exploration targets throughout Peru is also planned for 2010.
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo., CEO, are the Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. They have reviewed and approved the contents of this release. All resources quoted in this release are based on a 0.30% copper cut-off grade and 60,580 metres drilled in 213 holes to March 2008. *The 'Measured and Indicated Resource' listed above consists of Measured Resources of 237Mt at 0.51% Cu, 0.08 g/t Au, and 1.94 g/t Ag, plus Indicated Resources of 385Mt at 0.45% Cu, 0.07 g/t Au, and 1.76 g/t Ag. The 'Inferred Resource' listed above consists of 128Mt at 0.43% Cu, 0.06 g/t Au, and 1.64 g/t Ag. All copper equivalent grades quoted in this release are based on US$1.90 per pound copper, US$600 per troy ounce gold, US$10 per troy ounce silver, and 100% metal recoveries.
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.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms that are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.
On behalf of the Board of Candente Copper Corp.
"Sean Waller" P.Eng.
President & Director
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