"We are delighted to have John Black join the Candente Copper Board of Directors. John brings a wealth of exploration and development expertise. Most recently, as President & CEO of Antares Minerals, John progressed the Haquira copper project in Peru through a highly positive PEA and subsequent sale to a major copper producer, to the benefit of all of his stakeholders. His experience and contacts in-country and in the broader copper sector will help our team unlock the ultimate potential of the Cañariaco Norte project," commented Joanne Freeze, Candente Copper CEO & Director.
John Black added "I am very pleased to be joining the Candente Copper team and consider myself fortunate to again be affiliated with such a high quality project in Peru, so soon after the sale of Antares. I have always been impressed with the work that Candente has performed, and look forward to assisting them in any way I can to see this asset advance and set itself apart as one of the best copper development opportunities in the world."
Mr. Black is an economic geologist with 30 years of global exploration experience. He received his Master's degree in Geology - Ore Deposits Exploration from Stanford University in 1988.
Prior to his work with Antares, Mr. Black was Western Mining Corporation's Technical Exploration Manager for porphyry copper exploration in Chile and Per̼, and Principal Geologist for Rio Tinto, Kennecott's parent corporation, exploring for porphyry copper deposits in northern Chile and Ecuador.
About Candente Copper
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% (Candente Copper News Release 014, January 18, 2011).
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 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:
VP Corporate Development
mobile: +1 (604) 614-2999
local: + 1 (604) 689-1957 ext 2
toll free: 1 (877) 689-1964 ext 2
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
Investor Relations, Peru
Tel.: (511) 715-2001 ext 107
Fax: (511) 717-1233