Candente Copper Provides Comment on Recent Market Activity
June 08 2012 - 3:22PM
Marketwired
Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CDOUF)(LMA:DNT)
("Candente Copper") advises that the Company is unaware of any
specific reason, other than general market conditions, for the
recent significant increase in volume and decline in the Company's
share price.
In particular, there have been no corporate developments or
events to support this unusual activity. The Feasibility Study on
the Canariaco Norte copper project and local community initiatives
are continuing as per the Company's planned programs for 2012.
About Candente Copper
Candente Copper's flagship project is the 100% owned, 7.5
billion pound, Feasibility stage Canariaco Norte Copper Project
located in northern Peru's prolific mining district. The Canariaco
Norte deposit contains a Measured and Indicated resource of 752.4
million tonnes grading 0.49% copper equivalent(i), and an Inferred
Resource of 157.7 million tonnes at 0.44% copper equivalent(i).
Sean Waller, P.Eng., President and Joanne C. Freeze, P.Geo.,
CEO, are the Qualified Persons as defined by National Instrument
43-101 for the projects discussed above. They have reviewed and
approved the contents of this release.
(i) The 'Measured and Indicated Resource' listed above consists
of Measured Resources of 338.1Mt at 0.48% Cu, 0.08 g/t Au, and
2.0/t Ag (0.52% Cu Eq.), plus Indicated Resources of 414.3Mt at
0.43% Cu, 0.06 g/t Au, and 1.8 g/t Ag (0.46% Cu Eq.). All resources
quoted in this release are based on a 0.30% copper cut-off grade
and 229 drill holes completed to March 2008. (i)Copper equivalent
grade including gold and silver, metal recoveries (gold 55%; silver
50%) and smelter returns (copper 96.5%: gold 93%; silver 90%)
applied. Copper grade equivalent calculation: Cu Eq% =(Cu % + ((Au
grade x Au price x Au recovery x Au smelter return%)+(Ag grade x Ag
price x Ag recovery x Ag smelter return%))/(22.0462 x Cu price x
31.0135 g/t x Cu recovery x Cu smelter return%). The metal prices
used are: copper US$2.50/lb, gold US$1,035/oz and silver
US$17.25/oz.
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 that
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.
On behalf of the Board of Candente Copper Corp.
Sean Waller, P.Eng., President & Director
NR-035
Contacts: Candente Copper Corp. John Foulkes VP Corporate
Development Local: +1 (604) 689-1957 ext 2 Toll Free: +1 (877)
689-1964 ext 2 Mobile: +1 (604) 614-2999 Candente Copper Corp.
Walter Spagnuolo Manager, Investor Relations Mobile: +1 (604)
306-8477 or Local: +1 (604) 689-1957 ext 3info@candentecopper.com
www.candentecopper.com
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