Vancouver, British Columbia, April 5th, 2018, Candente Copper Corp. (TSX:DNT, BVL:DNT) ("Candente" or the "Company") is extremely pleased to provide the following update on the Cañariaco project and activities in Peru.
The Company is excited to advise that after many meetings between various governmental and community entities during 2017, several important infrastructure projects for the district of Cañaris have been approved and are being financed by the Central Government and Regional Government.
Of the projects recently announced, two of the most important are irrigation projects with an approximate investment of US$10.5 million, which will significantly benefit 1,700 families in several agricultural communities in Cañaris. In addition, a road improvement project costing approximately US$5 million is expected to be starting this month.
These projects are part of commitments made by Central and Regional Governments for the development of the Cañaris District following a series of meetings and studies started in 2013. The Government Ministries linked to the development projects include the Regional Prefecture, Ministry of Energy and Mines, Ministry of Agriculture and Irrigation, Ministry of Transport, Ministry of Economy and Finance and the Presidency of the Council of Ministers. The projects, announced by officials of the Republic of Peru, have generated much optimism in the district, as this is the first time this area of Peru will have experienced such development.
The Company is also appreciative that the Ministry of Energy and Mines (MINEM) has recently announced the implementation of new drilling regulations which will streamline certain aspects of the various permitting processes, reduce timelines for receiving permits and also allow longer periods to carry out drilling programs once permits are received. As a result, the Company is now working on applications for new drilling permits for the Cañariaco project.
The company has also recently started planning site visits with third parties interested in strategic investments or partnerships to advance the Cañariaco project.
On another matter, the Company announces the resignation of Mr. Faisel Hussein from his position as Interim Chief Financial Officer of the Company, effective April 3, 2018. Mr. Hussein joined Candente Copper Corp. in March, 2015.
"The Company would like to thank Mr. Hussein for all the contributions made during his tenure as CFO and wish him well in his new endeavours", commented Joanne Freeze.
The Company is very pleased to announce the appointment of Alec Peck as the Company’s Chief Financial Officer effective April 3, 2018. Mr. Peck’s previous professional and career activities include a partnership in an international accounting firm followed by a career as a vice president in the corporate finance group of a Canadian investment dealer. He has been, and continues to be, a CFO for various Canadian public companies.
About Candente Copper
Candente Copper is a mineral exploration company engaged in acquisition, exploration, and development of mineral properties. The Company is currently focused on its 100% owned Cañariaco project, which includes the Feasibility stage Cañariaco Norte deposit as well as the Cañariaco Sur deposit and Quebrada Verde prospect, located within the western Cordillera of the Peruvian Andes in the Department of Lambayeque in Northern Peru.
Joanne C. Freeze, P.Geo., CEO, and Michael Thicke, P.Geo, VP Exploration, 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.
This news release may contain forward-looking statements including but not limited to comments regarding 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 Copper relies upon litigation protection for forward-looking statements.
On behalf of the Board of Candente Copper Corp.
"Joanne C. Freeze" P.Geo.
President, CEO and Director
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