Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CCOXF)(BVL:DNT)
("Candente Copper") is very pleased to announce the appointment of
Mr. Anthony Pitirri, C.A. as Chief Financial Officer. Candente
Copper is also pleased to announce that Sean Waller, President and
Director, has been named as the Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") incoming President Elect, and will
serve as the CIM's President in 2014.
Anthony Pitirri Appointed as Candente Copper CFO
Joanne Freeze comments, "Mr. Pitirri brings to us expertise in
mine finance and operations in various parts of the world. We now
have excellent expertise in all aspects of mining from discovery
through engineering and into operations."
Mr. Pitirri has extensive experience in the mining and renewable
energy sectors, particularly in the financing and development of
mining and energy projects in Latin America and Africa. His
expertise also extends to international tax structuring, corporate
and project financing, public company reporting, the design and
implementation of project and financial controls, and the
development and auditing of IT systems for natural resource
companies.
Mr. Pitirri holds and has held senior management positions with
CuCo Resources Limited, Ram Power Corp., Polaris Geothermal Inc.,
and Polaris Energy Nicaragua S.A. Mr. Pitirri has also held a
management position at BDO Dunwoody LLP, providing accounting and
advisory services to public companies in the natural resource
sectors.
Mr. Pitirri received a Bachelor of Commerce Degree from York
University in Toronto, Ontario, Canada in 2000, and has been a
member of the Institute of the Chartered Accounts of Canada since
2004.
"I am very excited to have the opportunity to be involved with
the development of Canariaco Norte," commented Mr. Pitirri. "The
progress made by Candente Copper to date on the project's
development has been impressive, and I look forward to being part
of the team as we advance through the feasibility study and into
development."
Mr. Pitirri succeeds Ms. Aurora Davidson, who has served as
Chief Financial Officer of Candente Copper since 2008. Joanne C.
Freeze, Chairman and CEO of Candente Copper, states, "On behalf of
the board of directors and management team, I would like to thank
Aurora for her contributions to the growth and development of the
Company. She has been an invaluable member of our senior management
team and we all wish her the best in her future endeavors."
Sean Waller Appointed as CIM President Elect
Candente Copper is also pleased to announce that Sean Waller, P.
Eng., Candente Copper President and Director, has been appointed
Incoming President Elect by the Canadian Institute of Mining,
Metallurgy and Petroleum, will become President Elect in 2013, and
then serve as President of the CIM in 2014. Mr. Waller has
previously served on the CIM National Executive Council, and is a
past Vice President for District 6 (British Columbia and Yukon).
Mr. Waller's role with the CIM is part time and voluntary - he will
continue with his primary role as President and Director of
Candente Copper throughout his tenure at the CIM.
The Canadian Institute of Mining, Metallurgy and Petroleum,
founded in 1898, is the leading technical society of professionals
in the Canadian minerals, metals, materials and energy industries.
The CIM's 13,000 national members are drawn from every major region
of the country, with the national membership augmented by thousands
of local members in dozens of coast-to-coast branches. The CIM
members work in industry, government and academia, and are
dedicated to the discovery, production, and economics of Canada's
minerals, metals, materials, and energy resources.
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 (o.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.
Joanne C. Freeze, P.Geo., CEO, Director & Chair
NR-038
Contacts: John Foulkes VP Corporate Development local: +1 (604)
689-1957 ext 2 toll free: 1 (877) 689-1964 ext 2 mobile@+1 (604)
614-2999info@candentecopper.com Walter Spagnuolo Manager, Investor
Relations mobile: +1 (604) 306-8477 local: +1 (604) 689-1957 ext 3
www.candente.com
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