Candente Copper Corp. (TSX:DNT, BVL:DNT, US:CCOUF) ("Candente
Copper” or “the Company") is pleased to announce that effective
June 15, Giulio T. Bonifacio was appointed to the position of
Executive Chair. In addition, the Company has made a further senior
management change with the appointment of Dale Found as Vice
President, Chief Financial Officer, also effective June 15, 2022.
Mr. Bonifacio has over 30 years of experience in
senior executive roles in the mining industry in both the base and
precious metals sector. Mr. Bonifacio was the Founder, President,
Chief Executive Officer and Director of Nevada Copper from 2005
until his retirement in February 2018. Mr. Bonifacio led and
directed every stage of advancement of the Pumpkin Hollow copper
mine from exploration, development, permitting and construction.
Mr. Bonifacio is a Chartered Professional Accountant with
considerable experience and knowledge of operations, capital
markets and project finance while raising significant amounts of
capital for projects of merit by way of project debt, offtake and
equity.
Mr. Bonifacio was the President and Chief
Executive Officer, Director and subsequently Non-Executive Chairman
of Faraday Copper Corp. (formerly “CopperBank Resources Corp.”)
from May 2018 until April 2022. Mr. Bonifacio led and negotiated
the acquisition of Copper Creek in 2018, an advanced stage
development asset located in Arizona, United States, by way of a
business combination. Copper Creek is currently the lead project
being advanced by Faraday Copper. Mr. Bonifacio also held previous
senior executive roles with Getty Resources Limited, TOTAL Energold
Corp., an energy and gold producer and Vengold Inc., gold producer,
prior to founding Nevada Copper in 2005.
During his 12 years at Nevada Copper, Mr.
Bonifacio led the company’s efforts at the Pumpkin Hollow project
located in Nevada, from early-stage exploration and development to
construction by way of resource and reserve expansion; several
technical studies inclusive of feasibility studies for the
underground and open pit stand-alone projects, as well as an
integrated underground and open pit operation. Mr. Bonifacio
successfully permitted both the underground and open pit operations
at Pumpkin Hollow, which is the only permitted copper project of
scale in the United States in the past 25 years. Additionally, Mr.
Bonifacio led the initial construction phase, which included the
completion of headframe, hoist and 1,900-foot-deep, 24-foot
diameter concreted lined production sized shaft, all of which led
to a shortened construction period at Pumpkin Hollow, now in
production.
Giulio T. Bonifacio, Executive Chair, commented:
“I am very excited to take on a more active role with Candente and
work alongside Joanne Freeze, Chief Executive Officer, to advance
the Cañariaco copper project. I have monitored the progress of
Cañariaco for several years and consider it to be one of the most
attractive advanced stage copper projects I have been involved
with. I am also extremely pleased with what are robust economic
results as reflected in the recently published Preliminary Economic
Assessment, which is advanced in nature and builds upon previous
study work inclusive of a prior pre-feasibility progress report.
Recent advances by Joanne and team in Metallurgy, Process, Social
License and Environmental will prove the cornerstone as we further
enhance the value proposition for all stakeholders. I also view the
support received from Fortescue to date, as further endorsement of
the Cañariaco copper project, which possesses considerable further
upside while already being one of the top-rated copper projects
worldwide.”
The Company is also very pleased to announce the
appointment of Mr. Dale Found as Vice President & Chief
Financial Officer. Mr. Found has more than 30 years of
international accounting and finance experience, of which the last
15 have been spent in progressively more senior roles within the
mining industry. He has significant experience both in corporate
and mine site operational finance, having been part of the senior
leadership team at Nevada Copper Corp. that positioned the mine for
the final construction phase. Additionally, he was a key member of
the management team that took New Gold Inc.’s New Afton Mine
through the construction phase and into commercial production,
delivering the mine on time and on budget. Immediately prior to
that, Mr. Found was responsible for all financial matters for New
Gold Inc. in Mexico from a hands-on position at the mine. Mr. Found
is a Chartered Professional Accountant, C.A. and a Fellow of the
Institute of Chartered Accountants in England & Wales and has a
wealth of experience in financial reporting, operational planning,
treasury management and ERP/systems implementations.
“I am extremely pleased to have Giulio and Dale
join the Candente team. These two senior mining personnel bring
extensive mining experience to Candente Copper. Their track record
in the advanced stage development, finance and construction of
major copper mines is specifically suited to our current stage of
development at Cañariaco. Giulio’s recognition of Cañariaco as a
leading advanced copper asset in a growing global need for copper
and his track record of delivering great rewards for shareholders
will add substantially to our value for all stakeholders,” stated
Joanne Freeze, Company President and CEO.
We thank Mark Lotz for his contributions and
support since Oct. 1, 2018 as our CFO, especially through some very
difficult years in capital markets.
About Candente Copper
The Company’s flagship project is Cañariaco,
within which Cañariaco Norte, is the 10th largest late-stage copper
resource in the world and 5th highest in grade (RFC Ambrian,
December 2021 and Haywood, December 2021). In addition to Cañariaco
Norte, the Cañariaco Project, includes the Cañariaco Sur deposit
and Quebrada Verde prospect, all within a 4km NE-SW trend in
northern Peru’s prolific mining district.
The Company is very pleased to now have
Cañariaco Norte included in 4 research reports that compare various
global copper projects. RFC Ambrian: Cañariaco
Norte in top 10 of 23 projects with potential to involve third
party M&A (December 2021); Haywood: Cañariaco
Norte is one of 18 assets selected as likely to be considered by
majors looking to acquire (December 2021); Deutsche
Bank: Cañariaco Norte identified as one of 3 projects
required to meet the upcoming copper supply-demand gap (February
2021); Goldman Sachs: Cañariaco Norte identified
with incentive copper price in the lowest quartile of the top 84
copper projects worldwide (October 2018).
Cautionary Note Regarding Forward Looking
Statements
This press release contains forward-looking
information within the meaning of Canadian securities laws
(“forward-looking statements”). Forward-looking statements are
typically identified by words such as: believe, expect, anticipate,
intend, estimate, plans, postulate and similar expressions, or are
those, which, by their nature, refer to future events. All
statements that are not statements of historical fact are
forward-looking statements. These forward-looking statements are
made as of the date of this press release. Although the Company
believes the forward-looking statements in this press release are
reasonable, it can give no assurance that the expectations and
assumptions in such statements will prove to be correct. The
Company cautions investors that any forward-looking statements by
the Company are not guarantees of future results or performance,
and are subject to risks, uncertainties, assumptions and other
factors which could cause events or outcomes to differ materially
from those expressed or implied by such forward-looking statements.
Such factors and assumptions include, among others, variations in
market conditions; the nature, quality and quantity of any mineral
deposits that may be located; metal prices; other prices and costs;
currency exchange rates; the Company’s ability to obtain any
necessary permits, consents or authorizations required for its
activities; the Company’s ability to access further funding and
produce minerals from its properties successfully or profitably, to
continue its projected growth, or to be fully able to implement its
business strategies. In addition, there are known and unknown risk
factors which could cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Known risk factors
include risks associated with exploration and project development;
the need for additional financing; the calculation of mineral
resources; operational risks associated with mining and mineral
processing; fluctuations in metal prices; title matters; government
regulation; obtaining and renewing necessary licenses and permits;
environmental liability and insurance; reliance on key personnel;
local community opposition; currency fluctuations; labour disputes;
competition; dilution; the volatility of our common share price and
volume; future sales of shares by existing shareholders; and other
risk factors described in the Company’s annual information form and
other filings with Canadian securities regulators, which may be
viewed at www.sedar.com. Although we have attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. We are under no obligation to update or
alter any forward-looking statements except as required under
applicable securities laws.
On behalf of the Board of Candente
Copper Corp.
“Joanne C. Freeze” P.Geo., President, CEO and
Director
For further information please contact:Jonathan
PatersonJonathan.Paterson@HarborAccessllc.com+1 475 455
9401
info@candentecopper.com www.candentecopper.com
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