Vancouver, British Columbia, October 23rd, 2006. Candente Resource Corp. (DNT:TSX) ("Candente") is pleased to report that two additional drill holes have intersected the higher grade core at Cañariaco Norte Copper Project in Northern Peru. The first two holes (06-057 & 06-058) of the Phase IV program, intersected 355 meters (m) of 0.67% copper (Cu) and 489 m of 0.52% Cu, respectively, in the south-western portion of the higher grade core.
Hole 06-058 was stopped in grades of 0.52% Cu at a depth of 499 m due to technical difficulties with the drill. A larger drill is now on the property and expected to be able to core to depths of 700 to 800 m. Both drills are operating 24 hours a day 7 days a week.
Phase IV Drill Results
| Hole No. | From (m) | To (m) | Interval | Copper Grade | |
| Metres | Feet | (%) | |||
| 06-057 | 21 | 376* | 355 | 1164 | 0.67 |
| includes | 82 | 126 | 44 | 144 | 0.88 |
| 06-058 | 10 | 499* | 489 | 1604 | 0.52 |
| includes | 10 | 201 | 191 | 626 | 0.66 |
| includes | 10 | 60 | 50 | 164 | 0.75 |
* End of Hole
In addition to being high grade, both holes 06-057 & 06-058 have significant portions that are highly leachable. Hole 06-057 was drilled 100 meters (m) west of hole 04-008 (260 m of 0.64% Cu of which 156 m is 0.73% Cu) and hole 06-058 was drilled 70 m south of hole 04-008.
Complete results, maps, cross-sections and all reports can be viewed at:
http://www.candente.com/s/PeruProjects_Canariaco.asp.
Sampling and analytical procedures conform to NI 43-101 standards and are detailed in a previous Candente news release dated September 16, 2004. All samples were submitted to Actlabs in Lima, Peru. Michael J. Casselman, M.Sc., P.Geo. General Manager Exploration and Director, Robert van Egmond, P.Geo., Senior Geologist and Joanne C. Freeze, P.Geo., President and CEO, are the Qualified Persons as defined by NI 43-101 for the project discussed above and Joanne Freeze has read and approved the contents of this release.
Candente is a diversified exploration company with copper, gold, silver, and zinc projects in Peru and Mexico. Candente subscribes to principles, which ensure that its exploration and development activities are beneficial to the local communities.
Joanne Freeze, P. Geo.
President & CEO
Release No. 182
For further information please contact Kelly Gray or Evelyn Cox at (604) 689-1957 or toll free 1-877-689-1964
E-mail: info@candente.com
www.candente.com
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.