Candente Copper � Further to its press releases of January 26 and 27, 2011, Candente is
pleased to announce that it has closed its financing by way of a bought
deal private placement (the "Bought Deal Offering") with a syndicate of
underwriters led by Dundee Securities Ltd. and Scotia Capital Inc., as
lead underwriters, and including Raymond James Ltd., Wellington West
Capital Markets Inc. and Stonecap Securities Inc. (collectively the
"Underwriters") for total gross proceeds of $26,969,800, inclusive of
the proceeds from the full exercise of the over-allotment option
granted to the Underwriters. 

The Company issued an aggregate of 13,156,000 common shares in the
capital of the Company (the "Shares") at a purchase price of $2.05 per
Share.  In addition to the Bought Deal Offering, the Company has
completed a non-brokered private placement issuing 1,563,415 Shares at
a price per Share of $2.05 for gross proceeds of $3,205,000.75 (the
"Non Brokered Offering").

In consideration for its services with respect to the closing of the
Bought Deal Offering, the Underwriters received a cash commission equal
to 5% of the gross proceeds of the sale of Shares in the Bought Deal
Offering.  In consideration for its services with respect to the
closing of the Non-Brokered Offering, Kallpa Securities Sociedad Agente
de Bolsa of Peru received a cash commission equal to 5% of the gross
proceeds of the sale of Shares in the Non Brokered Offering.

The net proceeds of the Bought Deal Offering and Non-Brokered Offering
will be used for the advancement of the Ca�ariaco Norte copper project,
exploration, and general corporate purposes. The securities issued
under the offerings are subject to a four month hold period in Canada.

About Candente Copper Corp.

Candente Copper Corp. is a TSX listed mining company focused on
exploration and development of base metal mining projects in Peru and
Latin America. Candente's flagship project is the 100% owned Ca�ariaco
Norte project located in northern Peru's prolific mining district.

The Pre-Feasibility Progress Report recently completed on Ca�ariaco
Norte by AMEC Americas Ltd. concludes that with a projected annual
production of 262 million pounds of copper, 39,000 ounces of gold, and
911,000 ounces of silver over a mine life of 22 years, the Ca�ariaco
Norte project has an after tax Net Present Value of US$960 million, and
after tax Internal Rate of Return of 17.7% using a long term copper
price reverting to US$2.25/lb and a discount rate of 8%. The key
parameters of the Pre-Feasibility Progress Report are set out in
Candente's news release dated January 18, 2011 (New Release 014).


On behalf of the Board of Candente Copper Corp.

"Joanne C. Freeze" P.Geo.
CEO & Director

For further information please contact:

John Foulkes
VP Corporate Development
mobile: +1 (604) 614-2999 or
local: + 1 (604) 689-1957 ext 2
or toll free: 1 (877) 689-1964 ext 2

info@candentecopper.com

Walter Spagnuolo
Manager, Investor Relations
mobile: +1 (604) 306-8477 or
local: + 1 (604) 689-1957 ext 3

Nataly Reategui
Investor Relations, Peru
(511) 715-2001 ext 107
(511) 717-1233 (FAX)
nreategui@candente.com
www.candente.com

CAUTIONARY NOTE TO U.S. INVESTORS

We advise U.S. investors of 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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the proposed use of the proceeds of the Bought
Deal Offering and the Non-Brokered Offering, timing and content of
upcoming work programs, geological interpretations, receipt of property
titles, potential mineral recovery processes, etc are forward-looking
statements. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove
to be correct. Forward-looking statements are typically identified by
words such as: believe, expect, anticipate, intend, estimate, postulate
and similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those
in forward-looking statements as a result of various factors,
including, but not limited to, those risks and uncertainties disclosed
in the Company's latest interim Management Discussion and Analysis
filed with certain securities commissions in Canada and other
information released by the Company and filed with the appropriate
regulatory agencies. All of the Company's Canadian public disclosure
filings may be accessed via www.sedar.com and readers are urged to
review these materials, including the technical reports filed with
respect to the Company's mineral properties.