Candente Gold Names John Foulkes VP of Corporate Development
February 2, 2010
Vancouver, British Columbia, February 2nd, 2010. Candente Gold Corp. (CDG:TSX) ("Candente Gold") is pleased to announce the appointment of Mr. John Foulkes, B.Sc., B.Ed., as Vice President of Corporate Development.
Mr. Foulkes brings over 10 years of experience managing Corporate Development and Investor Relations programs for Canadian and US public companies to Candente Gold. From 2003 through 2008 he was the Manager of Corporate Development for Platinum Group Metals Ltd. (PTM:TSX), where he helped raise over C$40 million and grow the company from an early stage exploration company into one of South Africa's most promising potential platinum producers. Mr. Foulkes was also actively involved in the Corporate Development and Investor Relations programs of MAG Silver (MAG:TSX) and West Timmins Mining (now Lakeshore Gold (LSG:TSX)) throughout his tenure with the group.
Prior to his corporate activities, Mr. Foulkes had a notable seven-year career as an exploration geologist, including leading the exploration teams that discovered the Jericho and Gahcho Kué diamond mines in the Canadian Arctic. He holds Bachelor degrees in Geology and Education from the University of British Columbia.
Mr. Foulkes joins the management team of Joanne Freeze, P.Geo., (President & CEO); Dr. Peter Megaw, CPG, Ph.D., (Independent Director); Darin Wagner, M.Sc., P.Geo., (recently announced Independent Director); Larry Kornze, P.Eng., (Independent Director), and Andrew Lee Smith, P.Geo., (Independent Director).
"I am very excited to join Joey and the rest of the Candente Gold team, and to again work with Dr. Peter Megaw and Darin Wagner. In particular the prospects for both a new discovery and the development of extensions to the high-grade San Rafael vein on Candente Gold's flagship El Oro Project are extremely compelling."
"John has a very impressive track record in Corporate Development through his key roles in three companies which succeeded in increasing their market caps by more than 2000%. We are very pleased to welcome John to the Candente Gold team and look forward to working together." commented Joanne Freeze, Candente Gold President & CEO.
Drilling is planned to commence at El Oro in February 2010 and will comprise both surface drilling for new veins and underground drifting and drilling targeted on extensions to high-grade bonanza shoots in the San Rafael Vein. The San Rafael mine produced in excess of 4 million ounces of gold and 44 million ounces of silver, at average grades of 11 g/t gold and 115 g/t silver, historically from the uppermost 150 to 250 metres of the system. Candente Gold began trading on the Toronto Stock Exchange ("TSX") under the symbol of "CDG" on January 4th, 2010.
Mark Pryor, Pr.Sci.Nat., Independent Consultant, Joanne C. Freeze, P.Geo., President and CEO and Sean Waller, P.Eng., Vice President Development are the Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the contents of this release.
About Candente Gold Corp.
Candente Gold's Management Team and Board of Directors are senior mining industry executives with a track record in the discovery and development of mineral deposits. Candente Gold subscribes to principles whereby exploration and development activities are consistent with best practice and beneficial to the local communities.
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 Gold Corp.
President & CEO
For further information please contact:
VP Corporate Development
mobile: +1 (604) 614-2999
mobile: +1 (604) 306-8477
local: + 1 (604) 689-1957 ext 3
toll free: 1 (877) 689-1964 ext 3