Candente Copper Updates Status Of Canariaco Project

 

VANCOUVER, BC - Candente Copper Corp. reported an update on the progress being made with community members and local political leaders regarding community agreements, and the resumption of field work on the Canariaco Project in Peru.

Joanne Freeze, CEO, was invited by the members of 12 caserios to attend a meeting with approximately 200 locals from the high zone of the community of Kanaris to finalize discussions and conclude an agreement on a number of opportunities for cooperation between the community members and the Company. During this meeting, an agreement was reached with the community members regarding local employment and sustainable development initiatives, including support for agricultural projects in the high zone of the community of Kanaris.

"This is a very important step forward for both the company and the community, as it allows for significant benefits to the community and the resumption of Environmental and Social Impact studies, geophysics, and all pre-drilling field work. It is also a very positive move forward towards the culmination of the proposed Access Agreement for drilling required to complete the Feasibility Study," said Ms. Freeze. The high zone includes the known Canariaco Norte copper deposit, as well as the two prospective targets for additional mineralization - Canariaco Sur and Quebrada Verde.

The President of the community of Kanaris was also invited and discussed the upcoming vote on the Access Agreement. Although the details of the community meeting for the vote are still to be clarified, the President agreed that he would endorse the wishes of the majority of the community members expressed in a legal voting process.

The Company has been in regular communication with the community since resuming engineering studies in mid-2010 to discuss the various stages of exploration and engineering studies required for the advancement of the Canariaco project, and the near-term local opportunities and benefits associated with such.

"We are very pleased with the progress made in our community relations efforts, and feel we are continuing to develop mutually beneficial relationships and opportunities for all stakeholders - in particular local community members," said Freeze. "We appreciate the community's effort and support in helping to assure the advancement of the Canariaco project, and ensuring that appropriate legal protocols are followed. Given this support, we look forward to a timely vote on our Access Agreement."