Candente Copper Corp. and Canaco Resources Inc.: Drilling Intersects Vertical Extensio by 24hgold

Mots clés associés : Canada | G Mexico |

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Candente Resource Corp.
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Canaco Resources Inc.
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October 4, 2007

Candente Resource Corp. and Canaco Resources Inc.: Drilling Intersects Vertical Extensions to Four Historical Gold and Silver Veins at El Oro

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Candente Resource Corp. (TSX:DNT)(BVL:DNT)(WKN:GW4) (Candente) and Canaco Resources Inc. (TSX VENTURE:CAN) (Canaco) are pleased to announce that eight drill holes have been completed to date and all holes have intersected the targeted down-dip extensions of the El Oro veins.

These intersections demonstrate vertical extensions to four of the most prolific veins at El Oro. Samples of core from all veins have been sent for analysis. Results have been received for the three drill holes in the San Rafael Vein, the rest are pending. Three holes were drilled over a 2.8 kilometres (km) strike length on the San Rafael vein; one hole tested the Borda vein; three holes were drilled over a 0.6 km strike length on the Coronas vein; and one hole has been completed along the Verde vein.

"We are extremely pleased with the results to date," said Andrew Lee Smith, President of Canaco Resources Inc. "The San Rafael Vein in particular provides an impressive context for this drilling with in excess of 5 Million (M) gold equivalent ounces having been produced from 200 vertical meters (m) of mining operations. Intersecting typical San Rafael vein material in three locations and gold-silver mineralization at a depth of 70 m below the historic workings is undoubtedly significant. The presence of vein continuity without pervasive high grades is very typical of this prolific vein."

VSR-07-02 was previously reported to have intersected 2.90 m of 7.79 grams of gold per tonne (g/t Au) & 8.13 grams of silver per tonne (g/t Ag), approximately 20 m below the deepest known level of previous mining on the San Rafael vein, however, both the grade and the vein depth extension have increased with a check assay including a more accurate screen fire assay and a re-interpretation of structures. The new results give 7.2 m (5.11 m true width) of 4.05 g/t gold & 4.9 g/t silver including 2.90 m (2.06 m true width) of 9.27 g/t gold & 8.13 g/t silver 70 m below the deepest known historical workings. As previously reported, drill hole VSR-07-02 also intersected high grade silver mineralization of 1330 g/t over 3.05 m (within a zone containing 726.38 g/t over 5.60 m) which could be a new vein discovery (Previously reported in NR217, Tue. Jul 3, 2007).

The 4,000 m Phase One drilling program is nearly completed and will be limited to nine holes instead of the 13 originally planned due to the fact that some holes were drilled deeper than originally planned.


Significant drill intercepts:

--------------------------------------------------------------------------
                                                        Est-
                                                        ima-
                                                Drill   ted-
                                                inter- true
                                                  sec-  wid-
Drill                               From     To  tion-   th    Au       Ag
Hole      Description                 (m)    (m)   (m)   (m) (g/t)    (g/t)
--------------------------------------------------------------------------
VSR-07-01 Carbonate-quartz stock  405.85 407.25  1.43        Insignificant
--------------------------------------------------------------------------
VSR-07-02 Tuff breccia            251.65 308.30 56.65 54.95  0.22     2.02
--------------------------------------------------------------------------
VSR-07-02 Underground working     386.85 392.45  5.60  3.98  0.09   726.38
--------------------------------------------------------------------------
(incl.)                           389.40 392.45  3.05  2.17  0.06  1330.00
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   469.55 469.80  0.25  0.18  4.19    27.20
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   563.15 564.45  1.30  0.92  1.87    26.12
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   566.25 569.30  3.05  2.17  0.63    12.40
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   572.70 573.05  0.35  0.25 12.60   216.00
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   594.40 595.30  0.90  0.64  7.34    50.90
--------------------------------------------------------------------------
VSR-07-02 Quartz-carbonate vein   640.95 643.40  2.45  1.74  0.15    10.94
--------------------------------------------------------------------------
VSR-07-02 Quartz vein. Down dip   666.35 673.55  7.20  5.11  4.05      4.9
           extension of San
           Rafael Vein
--------------------------------------------------------------------------
(incl.)                           666.35 669.25  2.90  2.06  9.27     8.13
--------------------------------------------------------------------------
VSR-07-03 Quartz vein-breccia     542.10 559.65 17.55 13.00  Insignificant
           zone
--------------------------------------------------------------------------

Future drilling will include targets in the Oriente area, which is the eastern extension of the El Oro ore-shoot trend. Geological mapping and data compilation in the Oriente area has identified 6 drill targets to date. It is mostly covered by younger Tertiary Volcanic rocks masking favourable host rocks and potential veins. Seven exposures of the favourable host rocks have been found within these younger volcanics and five of these have alteration and quartz-calcite veining and stockwork typical of the El Oro gold-silver veins. Regional soil geochemical sampling in Zona Oriente identified gold anomalies in soils and silts (19 to 44 ppb and 34 to 90 ppb respectively) located on strike with a previously mapped Andrea vein. Additional soil sampling has been carried out in this area and it will be followed up by trenching. Sample results are pending. A NSAMT geophysical survey has also been carried out over the Oriente area to assist in the identification of potential new veins. The NSAMT final report and recommendations will be combined with geochemical and geological data to identify additional drill targets.

Major Drilling de Mexico, S.A. de C.V. is under contract to carry out the drilling program. Drill core is cut on site using a rock saw. Half of the core samples are submitted to the assay lab for analysis while the remainder are stored in core boxes for future reference. A QA/QC program involving the use of 3 standard samples and a blank has been incorporated into the sampling regime for the project. Samples are sent to ALS-Chemex Laboratories, an internationally recognized assay service provider. Sample preparation is done in Guadalajara, Mexico and analysis using ME-ICP41m, AA-AA24 in North Vancouver, Canada.

Additional information on the companies and the El Oro property is available at www.candente.com and www.canaco.ca.

Candente and Canaco have chosen to jointly explore at El Oro to take advantage of the companies combined abilities and successful track records in exploration, discovery, project development and mining operations. The companies have formed a Mexican subsidiary named Minera CCM SA de CV to operate this joint venture. Piotr Lutynski, P.Eng. Consultant, Michael J. Casselman, P.Geo. and Director, Candente and Andrew Lee Smith, P.Geo. Chairman and CEO, Canaco, are the Qualified Persons as defined by NI 43-101 for the project discussed above and they have read and approved the contents of this release.

Joanne C. Freeze, P.Geo., President and CEO, Candente

Andrew Lee Smith, P.Geo., Chairman and CEO, Canaco

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.

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. Canaco relies upon litigation protection for forward-looking statements.

NR225

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Candente Resource Corp.
Neil Currie
(604) 689-1957 or Toll Free: 1-877-689-1964
Email: info@candente.com
Website: www.candente.com

or

Canaco Resources Inc.
Nick Watters
(604) 488-0822 or Toll Free: 1-866-488-0822
Email: investors@canaco.ca
Website: www.canaco.ca

INDUSTRY: Manufacturing and Production - Mining and Metals

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