2004 News

Vancouver, British Columbia, July 26th, 2004. Candente Resource Corp. - DNT:TSX-V ("Candente") is pleased to announce that the Company has received approval and funding from Goldcorp Inc. - GG:NYSE; G:TSX ("Goldcorp") to carry out a Phase I drilling program on the Staghorn property in Newfoundland. The Strategic Partnership Agreement between Candente and Goldcorp allows Goldcorp to earn up to a 70% interest in the Staghorn property by assuming all expenditure obligations and completing bankable feasibility studies by January 2010.

New Valley Drilling of Springdale Newfoundland has been contracted to conduct the initial 2,700 metres (m) of diamond (core) drilling on the property. Drilling is expected to commence in August this year. The styles of mineralization, host rocks, structural setting and geochemical signature found to date on the Staghorn Property are all typical of intrusion hosted-orogenic deposits such as the 175 and 19 million ounce gold deposits at Muruntau and Kumtor in Central Asia.

Several drill targets have been delineated over a 2.5 km trend where gold mineralization has been found on surface at several locations and high chargeability zones extending to depth appear to be associated with gold mineralization.

The gold mineralization (0.5 to 25.7 grams per tonne (gpt) gold) is evident in three main trenched zones in bedrock, angular rock float, soils and heavy mineral concentrate (HMC) samples. Gold values ranging from 0.5 to 13.5 gpt (several in the 1.5 to 5 gpt range) occur in the main zone in rocks comprising one metre channels in trenches, selected samples and angular float in pits over a 70 by 30 m area. Outside the trenched area overburden masks outcrop exposure over much of the property.

The high chargeability zones appear to be associated with gold mineralization as they both occur within the same structural trend. The high chargeability signature also fits that expected for a sulphide bearing gold system similar to the type of mineralization found to date on the property. The high chargeability zones were identified by an Induced Polarization (IP) survey and occur over a 3.2 km extent.

The Staghorn property is located in southwestern Newfoundland, approximately 60 kilometers southeast of the seaport of Stephenville. Commercial air service is available to Stephenville and access by road from Stephenville is a 45 minute trip. The physiography of the property is characterized by rolling hills with stunted evergreen growth, shallow lakes and bogs with elevations ranging between 200 and 400 meters above sea level.

For more technical details please refer to: http://www.candente.com/s/projects_staghorn.asp

Candente is also currently drilling on the Alto Dorado gold property in Peru. For more information regarding 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 has a policy of ensuring 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 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.