Previous work by Solitario Resources Corp., under option from Britannia Minerals Corp, included in excess of 1,000 surface samples collected on a grid with 25 metre spacings. These samples include selected chip samples, composites over a 3 to 5 metre radius and a sieved heavy fraction of detrital material. Three distinct zones of mineralization were delineated within an area covering 1.5 square kilometres. The most extensive mineralization is found in the Sorpresa-Torre Zone where anomalous values ranging from 1 to 28 gram per tonne (gpt) occur over a two kilometre length. Several samples carry values from 1 to 7 grams per tonne and were most prevalent in the Torre zone which covers 800 by 450 metres (includes the 28 gpt sample).
A limited drilling program was also carried out in the Sorpresa-Torre Zone by Solitario. Thirteen reverse circulation and three diamond drill holes were drilled and all of these holes encountered anomalous gold values. Assay results included 27.0 m of 0.92 gpt gold, 34.5 m of 0.73 gpt and 9.0 m of 1.83 gpt. More significant than the mineralized intercepts as reported, was the identification of higher grade mineralization (from 1 to 9 grams per tonne) over narrower intervals (1.5 to 4.5 metres). Due to the nature of reverse circulation drilling and the complex geology, the source of the higher grades was not identified at the time of the drilling. The higher grades are now believed to be in brecciated fragments of higher grade mineralization.
Dr. Wolfgang Morche and Dr. Peter Lewis, specialists in volcanology and structural geology, respectively, have been invaluable in assisting Candente geologists re-interpret the geology and mineralization controls at El Tigre. The current mapping and sampling program is expected to be completed by the end of the year with the intention that drilling would be carried out during the first quarter of 2001. The El Tigre property is located in the coastal belt of Peru where exploration is possible 12 months of the year. Megaclasts exceeding 10 square metres in Torre Zone indicate the source of the higher grade mineralization is very near. Some megaclasts contain colloform banded quartz veins and show that the veins are up to 2.5 metres wide. The mineralization occurs with multiple events of brecciation, silicification and veining. Petrographic work shows native gold both in lithic fragments and interstitial quartz.
While Peru, like several other countries, is in the midst of seeking a new leader, management is confident that the importance of mining in Peru's current economy and its' history will ensure that Peru continues to be a country with an excellent risk-reward ratio for exploration investment. An indication of this is that mining production increased 4.8% in October 2000 from October 1999.
Candente Resource Corp. currently holds interests in epithermal gold, disseminated copper-gold and volcanogenic massive sulphide prospects. The Company's founders have extensive exploration experience in Peru and have been involved in some of Peru's major discoveries. For a comprehensive overview and property portfolio for Candente Resource Corp. please see www.candente.com or contact Chris Verrico at (604) 689-1957 or at investor@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne Freeze", P. Geo., President and CEO
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