Vancouver, British Columbia, April 11, 2005, Candente Resource Corp (DNT:TSX) and Orex Ventures Inc. (REX:TSX-V) are pleased to announce that twelve gold and gold-copper exploration targets have been identified within the Las Sorpresas property. Las Sorpresas borders the southern boundary of Yanacocha, the world's largest open-pit, heap leach gold operation with in excess of 35 million ounces of gold. The targets are part of a trend of domal-circular features, structural controls and clay alteration zones, which are also associated with some of Yanacocha's gold deposits including Cerro Quillish which lies just northwest of the Las Sorpresas property.
Domal-circular features often represent intrusions which acted as heat sources for gold mineralizing systems and the controlling structures are believed to have acted as some of the pathways for the gold bearing solutions which deposited gold at Yanacocha. On Las Sorpresas two major NW-NNW trending faults cross the central part of the property and extend northward into the central Yanacocha main mine area and across the NE flank of the Cerro Quillish gold deposit. A cluster of domal-circular features occurs along this structure. The satellite imagery also located a number of alunite, pyrophyllite and kaolinite, alteration anomalies on the Las Sorpresas property, which are similar to those occurring with gold mineralization in the Yanacocha deposits.
Evidence of gold mineralization on Las Sorpresas, found through previous work by Candente, includes anomalous levels of gold in stream sediments, hydrothermal alteration zones and key (geochemical) trace elements in soils and rocks. All of these indicators are similar to those which have assisted in gold discoveries at Yanacocha.
The structural and alteration interpretation was conducted on a satellite photo image covering both the Las Sorpresas property and the Yanachocha mine area. Murphy Geological Services of Cork, Ireland completed the study on an Aster high resolution satellite image which encompassed an area 48 km east-west by 64 km north-south.
During late 2004, Candente and Orex carried out a geophysical Induced Polarization (IP) survey, which evaluated depths of up to 200 meters only. Further IP surveys are planned to have a deeper penetration in order to locate buried gold and gold-copper sulphide deposits similar to those which underlie the oxide gold deposits currently being mined at Yanacocha.
The Las Sorpresas property is situated in the Andean mountains of Northern Peru and is road accessible one hour from the City of Cajamarca. Exploration on the property is operated by Candente's Peruvian exploration team employed by subsidiary Cia. Minera Oro Candente S.A. ("Oro Candente") and lead by Ing. Fredy Huanqui, Director and Vice President Exploration for Latin America. Michael Casselman, M.Sc., P.Geo., General Manager Exploration and Director of Candente and Joanne C. Freeze P. Geo. President, are the qualified persons (QP) as defined by NI 43-101 for the project discussed above and they have verified the information, have read and approved the contents of this release.
Further exploration is planned to commence in May, following the rainy season, and will include additional geophysical (IP) surveys with deeper penetration abilities. The IP survey will cover the major NW-NNW trending faults and clusters of domal and circular features extending southward from Yanacocha's main mine area and Cerro Quilish gold deposit, as well as areas with alunite and pyrophyllite alteration anomalies.
Orex has the right to earn a 51% interest in the Las Sorpresas property by incurring exploration expenditures of US$2.5 million by December 31, 2007 on the property, while Candente retains the right to operate all exploration during this period. In addition to the exploration expenditure commitments, Candente has received US$15,000 in cash and will receive staged share issuances totalling 250,000 shares for the property by January 31st, 2008.
Candente is a diversified copper and gold exploration company. Our focus is to increase shareholder value through discovery. Candente has an advanced exploration stage copper project, Cañariaco, and several other gold and gold-copper projects in Peru and Newfoundland. Candente's directors have individual track records in both the discovery and development of multi-million ounce gold and silver, and multi-billion pound copper 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.
Orex is a junior mineral exploration company, comprised of highly qualified mining professionals with a current focus on the exploration of prospective gold properties in northern Peru. Management is actively engaged in the acquisition of new properties in South America. For more information visit www.orexgold.com, call (604) 684-4691 or email ktsakumis@ipm.bc.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"Gary Cope"
Gary Cope, President & CEO
Orex Ventures Inc.
CANDENTE RESOURCE CORP. - DNT:TSX - DISCLAIMER OREX VENTURES INC.- REX:TSX-V - DISCLAIMER
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.
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. Orex relies upon litigation protection for forward-looking statements.