Sustainability and Community Development Programs
The Company is continuing its Sustainable Development Programs within the Community of San Juan de Kanaris. Our community strategy is based on the United Nation's Millenium Development Goals ("UMDG") which are themes of development highlighted by the United Nations as the most urgent obstacles to poverty reduction. The UNDG's focus is on education, gender equality and health, child mortality, disease control, environment and global partnerships.
Candente Copper has developed and is supporting agricultural programs in coffee and quinoa, as well as education and health. The Company is promoting the development and procurement of local services and skills geared towards employment to increase shared value within the communities of the Canariaco project area. Recently Candente Copper supported the state trades school Sencico to certify 40 young community members in electrical installations.
Candente Copper has also formed partnerships with local and international Non Governmental Organizations and Institutions ("NGOs"). Several of the NGOs work in association with the Company and several work independently. Save the Children works independently to improve the maternal skills, hygiene and health of women and children in the communities of San Juan de Kanaris. Save the Children is also working to strengthen the connections between the rural high Andean communities and the health and educational services and programs of the Regional and National Governments. Candente Copper's alliance with the Clinton-Giustra Sustainable Growth Initiative provided much needed corrective eye surgery to a number of people suffering from reduced vision due to cataracts in the provinces of Lambayeque and Cajamarca. In coordination with this program, the Lions Club of Chiclayo has provided free eyeglasses to a large number of children and elderly who were diagnosed with substandard vision.
Working with the NGO Progreso Agrario (Pro-A) and the Associacion de Productores Organicos de San Juan Bautista Kanaris (A.P.C), Candente Copper is assisting coffee growers in the region to improve coffee bean quality and yield, achieve eco-socio certifications, and to obtain direct access to International markets for their coffee beans. The success of this coffee project has driven a second agricultural initiative in the promotion of quinoa demonstration plots in the higher altitude Andean communities. Collectively, these programs are designed to provide direct long term benefit to community members through enhancement of skills in organization and association, nutrition, hygiene, agriculture, career development and local product marketing skills.
Candente Copper also has an active partnership with RENIEC, the authority of the Peruvian government that assigns documentation and identity cards to Peruvian citizens. Many community members of San Juan de Kanaris are not registered with the state and as a result may not have access to state social services such as health and education.
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 and Director
Candente Copper Corp.
Candente Copper Corp.
Manager, Investor Relations
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
Candente Copper Corp.
Investor Relations, Peru
(511) 715-2001 ext 107
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