The Island Pond property is a low sulphidation epithermal gold target adjoining the southwest end of the Moosehead property held by Altius Minerals and under option to Sudbury Contact Mines. Drilling on the Moosehead Property has returned high grade intersections such as 1154.35 grams per tonne (gpt) (33.71 ounce per ton (opt)) over 0.18 metres; 170.31 gpt (5.4 opt) gold over 1.5 meters; 14.07 gpt over 16.84 metres; and other lower grade intersections such as 4.2 gpt over 5.5 metres.
Drill targets on Island Pond include a group of northwesterly trending structural zones, paralleling those targeted by drilling on the Moosehead Property. Several of these structures have coincident soil geochemical (Au, As, Sb) anomalies and sulphosalt/precious metal bearing quartz float which are similar to the mineralization found on the Moosehead property. Samples from the northeastern portion of the Island Pond property assay as high as 171.2 g/t (5.5 opt) Ag, 0.69% Sb, and 142 ppb Au. In the same area, lake bottom sediments carry up to 10 ppb gold, which is nearly double that of anomalies which have lead to the discovery of significant gold mineralization elsewhere in the Botwood Basin. This area is up (glacial) ice from the Moosehead Property and indicates potential for a bedrock gold source within the Island Pond Property. The property comprises 38 claims totaling 950 hectares and straddles a paved highway, 5 kilometers south of the Trans Canada Highway.
Candente has an option to earn an initial 51% interest in the Island Pond Gold Property from Cornerstone by spending $1,500,000 on exploration, issuing 115,000 of Candente shares to Cornerstone and paying Cornerstone $115,000 over 4 years. Candente can then increase their interest to 61% by funding a bankable feasibility study. Following this, Candente can earn up to a 75% interest by arranging mine financing.
Cornerstone is a Canadian junior exploration company with Gold, VMS, PGE, IOCG and SSC targets. Cornerstone has an expanding portfolio of gold properties in Newfoundland & Labrador. For technical information contact Tim Froude, VP Exploration or Mike Basha, Exploration Manager at 709-745-8377, or for investor relations contact Deborah Thiel at 709-753-7830, or check website http://www.cornerstoneresources.com
Candente is a junior exploration company focused on the acquisition, exploration and development of world-class gold and copper projects in Peru and Eastern Canada. For more information on our current exploration progress visit http://www.candente.com and/or call (604) 689-1957; toll free 1-877-689-1964; or e-mail mailto:investor@candente.com
ON BEHALF OF THE BOARD OF DIRECTORS ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
"Glen H. McKay"
Glen H. McKay, President
Cornerstone Capital Resources Inc.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.