2011 News


January 26, 2011

Vancouver, British Columbia -- January 26, 2011 -- Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente" or the "Company") is pleased to announce that it has entered into an agreement with Dundee Securities Corporation and Scotia Capital Inc., as lead underwriters on behalf of a syndicate of underwriters including Raymond James Ltd., Wellington West Capital Markets Inc. and Stonecap Securities Inc. (collectively the "Underwriters"), whereby the Underwriters have agreed to purchase from the Company on a bought deal private placement basis (the "Offering"), an aggregate of 9,800,000 common shares (the "Shares") of the Company at a price of $2.05 per Share for aggregate gross proceeds of $20,090,000. The Company has also granted the Underwriters an over-allotment option to increase the size of the Offering by up to an additional 1,470,000 Shares, such option being exercisable at any time up to 48 hours prior to the closing of the Offering. If the over-allotment option is exercised in full, the aggregate gross proceeds raised will be $23,103,500.

The Offering is expected to close on or about February 17, 2011 and is subject to the approval of the Toronto Stock Exchange. The Shares issued under the Offering will be subject to a hold period in Canada which will run until the day that is four months and one day after the date of the closing of the Offering.

The net proceeds of the Offering will be used for the advancement of the Cañariaco Norte copper project, exploration, and general corporate purposes.

About Candente Copper Corp.

Candente Copper Corp. is a TSX and BVL listed mining company focused on exploration and development of base metal mining projects in Peru and Latin America. Candente Copper's flagship project is the 100% owned Cañariaco Norte copper project located in northern Peru's prolific mining district.

The Pre-Feasibility Progress Report recently completed on Cañariaco Norte by AMEC Americas Ltd concludes that with a projected annual production of 262 million pounds of copper, 39,000 ounces of gold, and 911,000 ounces of silver over a mine life of 22 years, the Cañariaco Norte project has an after tax Net Present Value of US$960M, and after tax Internal Rate of Return of 17.7% using a long term copper price reverting to US$2.25/lb and a discount rate of 8%. The key parameters of the Pre-Feasibility Progress Report are set out in Candente Copper's news release dated January 18, 2011 (New Release 014).

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.


We advise U.S. investors of 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.

"Joanne C. Freeze" P.Geo.
CEO & Director

For further information please contact:

John Foulkes
VP Corporate Development
mobile: +1 (604) 614-2999 or local: + 1 (604) 689-1957 ext 2
or toll free: 1 (877) 689-1964 ext 2

Walter Spagnuolo
Manager, Investor Relations
mobile: +1 (604) 306-8477 or local: + 1 (604) 689-1957 ext 3

Nataly Reategui
Investor Relations, Peru
(511) 715-2001 ext 107
(511) 717-1233 (FAX)

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