Release No. 108
Vancouver, British Columbia, September 16th, 2004. Candente Resource Corp. - DNT:TSX-V ("Candente") is pleased to advise that results from the Phase I drilling program on the wholly-owned Alto Dorado property located in Northern Peru have been compiled. Gold and copper mineralization has been found in a porphyry body, which appears to be in excess of one kilometre (km) in length and 600 metres (m) in width in the Ana-Olla zone.
A total of 1050m were drilled in nine holes to depths of 46m to 201m. Eight holes were drilled in the Toril high sulphidation gold zone and one in the combined Ana-Olla porphyry gold-copper zone. Two of the eight holes at Toril were terminated prior to reaching target depths due to drilling difficulties.
In the Ana-Olla Zone, diamond drill hole (DDH) 04-008 intersected alteration and mineralization typical of gold-copper porphyry deposits over a depth of 189 metres. A chargeable body, one km in length and 600m in width was recently delineated just west of DDH-04-008. This body extends 250m north of DDH-04-008 and 700m to the south (remains open to the south). The hole was drilled near what appears to be the western edge of a satellite portion of the main chargeable body displaced by a fault. The chargeability signature, delineated by an Induced Polarization (IP) survey, is typical of disseminated mineralization found in porphyry deposits. Porphyry style alteration occurs on surface above the chargeable body over a 1.8 km length and 0.8 km width and mineralization (chalcopyrite and pyrite) occurs in a quartz stockwork zone 1.2 km north of DDH-04-008.
Chalcopyrite and chalcocite (copper minerals) occur as disseminations (particles) and in quartz stockwork over much of the drill hole. Molybdenum (Mo) was observed starting at 80 metres to the bottom of the hole as disseminations and in stockwork. Gold (Au) and copper (Cu) levels ranging from 0.1 gpt to 1.2 gpt Au and 0.1% to 0.69% Cu occur in 100 of the 130 samples collected. Molybdenum (Mo) levels average 0.014% over a 41.1m (135 foot) interval from 99.1m to 140.2m. Most of the weaker samples are from leached zones (mineral depleted), which occur from surface to 28.60m and in a fault zone from 45.70m to 73.85m. Average grades and metal equivalents are as follows:
| From | To | Interval | Au | Cu | Mo | Au Eq | Cu Eq | |
| (m) | (ft) | (gpt) | (%) | (%) | (gpt) | (%) | ||
| 0 | 28.6 | 28.6 | 93.8 | leached | ||||
| 28.6 | 44.2 | 15.6 | 51 | 0.36 | 0.26 | 0.006 | 0.87 | 0.48 |
| 44.2 | 73.85 | 29.45 | 97 | leached due to fault zone | ||||
| 73.9 | 91.9 | 18.05 | 59 | 0.60 | 0.30 | 0.006 | 1.18 | 0.65 |
| 73.9 | 123.5 | 49.6 | 163 | 0.37 | 0.22 | 0.008 | 0.82 | 0.45 |
| 73.9 | 189 | 115.2 | 378 | 0.24 | 0.20 | 0.009 | 0.66 | 0.36 |
| 28.6 | 189 | 160.4 | 526 | 0.22 | 0.17 | 0.008 | 0.58 | 0.32 |
* Above calculations were arrived at using prices of $375/oz gold,
$1.00/lb copper and $4.00/lb molybdenum.
These grades are especially significant considering the hole was drilled prior to the completion of the geophysics program, and is not believed to be in the best part of the porphyry system. For comparison: gold in gpt, copper and molybdenum grades in % and gold and copper equivalents of other porphyry deposits currently being developed or mined are:
| Deposit | Au | Cu | Mo | Au Eq | Cu Eq |
| Kemess South, BC | 0.49-0.70 | 0.17-0.23 | -- | 0.80-1.12 | 0.44-0.61 |
| Kemess North, BC | 0.31 | 0.16 | 0.60 | 0.3 | |
| Pebble, Alaska | 0.30 | 0.27 | -- | 0.55 | |
| Highland Valley, BC | -- | 0.37-0.42 | 0.014-0.018 | -- | 0.42-0.49 |
| Agua Rica, Argentina | 0.43-0.66 | 0.17-0.23 | 0.032-0.037 | 0.95-1.33 | 0.52-0.73 |
In the Toril Zone, gold grades ranging from 0.1 to 2.3 gpt were intersected in zones from 4m to 18m wide in vuggy silica and quartz-alunite alteration in fragments in pyroclastic breccias and lapilli breccias. A diatreme-like structure containing vuggy silica fragments and crosscut by various hydrothermal breccias (feeders) was intersected near the centre of the Toril Zone. Diatreme structures often act as controls to the mineralization in gold systems. Two of the eight holes drilled in this zone were terminated prior to reaching target depths due to drilling difficulties caused by clays and broken rock, especially near the diatreme-like structure. A larger drill will be contracted for further work at Toril to search for the source of the mineralized vuggy silica fragments. Assays have not been received for the final hole at Toril, however this was one of the holes that terminated early.
All samples have been collected by Candente's Peruvian geologists in accordance with industry standards and were submitted to Actlabs in Lima, Peru. Joanne C. Freeze, P. Geo., President and CEO of Candente and Michael Casselman, P.Geo., General Manager Exploration and Director of Candente, acted as the qualified persons for the purposes of National Instrument 43-101, and have verified the data disclosed in this news release, including sampling, analytical and test data. Gold analyses were carried out by fire assay with an Atomic Absorption (AA) finish in Actlabs laboratory in Lima. An additional 35 elements were analyzed for using Inductively Coupled Plasma (ICP) in Actlabs laboratory in Ana Ontario, Canada.
The drill rig has been moved to the Cañariaco Property where drilling has commenced. A second phase drilling program will be carried out at Alto Dorado following the Cañariaco drilling program.
For more technical information on the Alto Dorado property please refer to: http://www.candente.com/s/Projects_Peru.asp?PropertyInfoID=655&View=1
Candente is a well-funded mineral exploration company focused on the acquisition and exploration of world-class gold and copper projects. Management has a strong geological/technical focus and a track record of discovering world-class mineral deposits. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities. For more information visit www.candente.com, call us at (604) 689-1957, toll free 1-877-689-1964 or e-mail to info@candente.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
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. Candente relies upon litigation protection for forward-looking statements.