Vancouver, British Columbia, January 16th, 2008. Candente Resource Corp. (DNT:TSX and BVL) ("Candente" and/or the "Company") is pleased to announce the appointment of Mr. Steven G. Dean as Director and Chairman of the Board.
"We are very pleased that Steven has agreed to join our Board as Chairman," comments Joanne Freeze, President and CEO of Candente. "As we develop Cañariaco and advance our exploration portfolio, Steven's experience will significantly enhance the Board and Candente's executive management team." Steven Dean states, "I am very excited to be invited to join the Candente Board, and to have the opportunity to contribute to the development objectives of the Company's key property, Cañariaco."
Mr. Dean is also Chairman and Director of Amerigo Resources Ltd. (ARG:TSX) ("Amerigo"), Spur Ventures Inc. (SVU:TSX) and Vannessa Ventures Ltd, (VVV:TSXV) and is a director of GRD Ltd. (GRD:ASX) Mr. Dean has extensive experience in mine finance, development and management. He was a founding member of management of the Normandy Mining Ltd. Group in Australia from 1987 to1994, and was founding Chairman and Chief Executive Officer of PacMin Mining Corporation from 1995 to1999. Following that, Steven was President of Teck Cominco Limited until July 2002. Steven is a Fellow of the Institute of Chartered Accountants of Australia, a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Canadian Institute of Mining, Metallurgy and Petroleum.
Amerigo currently holds 13.2% of the outstanding common shares of Candente on an undiluted basis. Dr. Klaus Zeitler, President of Amerigo, is also a member of the Board of Directors of Candente and Amerigo and has an extensive track record in successful mine finance, development and management. Dr. Zeitler led the acquisition of the Antamina project in Peru first for Inmet Mining in 1996 and later for Teck Cominco Ltd. in 2000. Antamina is one of the world's largest copper and zinc mines.
Amerigo produces copper and molybdenum concentrates from tailings from the world's largest underground copper mine, Codelco's El Teniente mine, a copper producer for the past 100 years with remaining ore reserves lasting many more decades. In 2006, total earnings reached US$39.3 million, up 119% from 2005, and earnings per share were US42¢.
About Candente Resource Corp.
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.
For further information please contact Mr. John DeCooman at 1 (917) 402-9416 or Mr. Neil Currie at: 1 (604) 689-1957 or 1 (877) 689-1964 (toll free); or communications@candente.com. Visit our website at www.candente.com
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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.
CAUTIONARY NOTE TO U.S. INVESTORS
We advise U.S. investors that this news release uses terms which are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.