Candente Gold Announces Lima Stock Exchange Listing

Vancouver, British Columbia, August 23 2010. Candente Gold Corp. (BVL:CDG / TSX:CDG) ("Candente Gold") is pleased to announce that its common shares have been listed for trading on the Bolsa de Valores de Lima ("BVL"). Trading will be conducted under the ticker symbol 'CDG'. Kallpa Securities S.A.B. is acting as Candente Gold's sponsoring broker and was instrumental in assisting Candente Gold to secure the necessary approvals from the BVL and the Comision Nacional Supervisora de Empresas y Valores.

The history of the BVL dates from December 31, 1860 and today it is one of the most important markets in South America. A new initiative by the BVL to join markets with the stock exchanges of Chile and Colombia is expected to enter its first stage in 2011. This step is aimed to create the third largest stock exchange in Latin America with a combined capitalization of nearly US$500 billion, which will add excellent exposure to investors from many countries for companies listed on the BVL. Additional information about the BVL may be found in Spanish at www.bvl.com.pe.

"Peru ranks as one of the top 5 producers worldwide of gold, silver, copper, and zinc, and Peruvians understand mining and know what it takes to be successful at it," remarked Joanne Freeze, President, CEO and Director of Candente Gold. "Candente Gold's sister company, Candente Copper (BVL:DNT) obtained their listing on the BVL in 2007 and found it to be very strategic, with over 20% of DNT shares now held by Peruvians."

Candente Gold hopes to replicate this success, by exposing the highly knowledgeable Peruvian mining investors to the immense potential of Candente Gold's Mexican and Peruvian properties. The Company's most advanced project, El Oro, is a district scale gold project encompassing one of the largest and most prolific high grade gold dominant epithermal vein systems in Mexico.

"We believe that Peruvian investors will welcome the opportunity to own our shares, and to participate in the future success of the gold market, Candente Gold, and the El Oro Gold Project, as well as our Peruvian projects," commented Andres Milla, Director of Candente Gold.

About Candente Gold Corp.

Candente Gold's flagship asset is El Oro, a district scale gold project encompassing one of the largest and most prolific high grade gold dominant epithermal vein systems in Mexico. The El Oro district includes over 50 known veins, and has a historic production of 6.4 million ounces of gold and 74 million ounces of silver from just two of these veins. Candente believes there is potential for new discoveries of scale throughout the district and multi-million ounce potential, especially below the historic workings which average only 200 metres vertical. Similar deposits throughout Mexico have shown gold and silver mineralization to have vertical extents of over 800 metres.

Candente Gold also holds an extensive portfolio of 100% owned, early to mid-stage, high and low sulphidation epithermal gold projects in Peru. Many of these projects have significant exploration completed and targets ready to be drill tested.

Candente Gold has begun a systematic program of exploration of the known and vein systems in the El Oro District, where initial drilling is now in progress. 

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.

John Foulkes
VP Corporate Development
Candente Gold
moc.dlogetnednac@ofni
mobile: +1 (604) 614-2999
www.candente.com

Walter Spagnuolo
Investor Relations
Candente Gold
moc.dlogetnednac@ofni
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
toll free: 1 (877) 689-1964 ext 3
www.candente.com

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