Exploration commenced at Pamel in December to delineate drill targets. Since commencing exploration in December, field crews have collected over 2000 soil samples. In addition, a magnetic survey has been carried out over 205 km of grid and geological mapping has been completed.
The Pamel Property is a high sulphidation gold target with many geological similarities to major gold deposits such as Yanacocha, Pierina and Alto Chicama, which together contain in excess of 50 M oz gold and are all in Peru. The Pamel property covers a very extensive (2 by 4 kilometres (km)) mineralized zone. This zone is characterized by unique clay alteration and geochemical anomalies (mercury, arsenic, antimony, barium, lead and gold) in a zoned pattern.
Orex has the right to earn a 51% interest in the property by incurring exploration expenditures of US$2.5 million over 3.5 years on the property. Candente has the right to operate all exploration over the 3.5 years. In addition to the exploration expenditure commitments, Candente will receive 60,000 shares in Orex upon approval of the Agreement by the TSX Venture Exchange and additional staged share issuances totalling 250,000 shares in Orex by May 31st, 2010.
For more information such as maps, sections and property descriptions please refer to:
http://www.candente.com/s/PeruProjects_Pamel.asp
Sampling and analytical procedures have and will conform to NI 43-101 standards. Michael Casselman, P.Geo., GM Exploration and Director, Robert Van Egmond, P.Geo., Senior Geologist and Joanne Freeze, P.Geo., President and CEO are the Qualified Persons for the project as defined by NI 43-101 and have reviewed this news release.
Candente is a diversified copper, gold exploration company focused on increasing shareholder value through discovery. Candente has an advanced exploration stage leachable copper project, Cañariaco, and several other gold and copper projects in Peru. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.
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 Peru. Management is actively engaged in the acquisition of new properties in South America.
For further information from Candente, please contact Evelyn Cox at: (604) 689-1957 or toll free 1-877-689-1964
info@candente.com
www.candente.com.
For further information from Orex, please contact Investor Relations at: (604) 684-4691
info@orexgold.com
www.orexgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Joanne C. Freeze"
Joanne Freeze, P. Geo., President & CEO
Candente Resource Corp.
Release No. 153
ON BEHALF OF THE BOARD OF DIRECTORS
"Gary Cope"
Gary Cope, President & CEO
Orex Ventures Inc.
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 and Orex rely 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.