High Grade Gold Deep In The San Rafael Vein 

VANCOUVER, BC - Candente Gold Corp., reported high grade gold results from intervals regarding deep drilling of the San Rafael vein system on the El Oro Gold Project, Mexico.

Three metres grading 13.7 g/t gold were intersected in a composite of quartz/breccia veins from 699.30 to 702.30m in drill hole SR11-01A. This intercept lies along the downward projection of the San Rafael vein, approximately 126 metres below the deepest historical production levels of the Esperanza Mine.

"We are very pleased to have intersected high grade gold in the San Rafael vein system well below the old workings," commented Joanne Freeze, President & CEO. "This confirms that historical mining was not stopped because of the termination of high grade gold at depth. We will now drill even deeper to test the probability that gold-silver mineralization in the El Oro district resulted from overlapping boiling zones that deposited gold and silver over vertical ranges of from 600 to 1200 metres." This three metre section of mineralized vein material was intersected within the Esperanza fault which was intersected from 695.20 to 709.00m. SR11-01A was designed to intersect the San Rafael vein above this fault where historic underground sampling indicates bonanza grades (50 g/t gold equivalent), but drilling deviation caused it to intersect the vein deeper than planned, and within the Esperanza fault. This faulting is believed to have greatly reduced the width of the vein in this area. High grade gold and silver results were recently reported from the Angelica and Nolan veins, which lie approximately 253 metres vertically above this new intersection, in the hanging wall of the San Rafael vein. The Angelica vein, which averaged 6.85 g/t over 4.6m in drill hole SR10-02A, has now been interpreted to be at least one of the feeders to the recently recognized pervasive gold mineralization in the Somera Tuff, including 0.96g/t gold over 75m (see Candente Gold NR010, Feb. 9, 2011). Higher grades within the 4.6m wide Angelica vein include 16.73 g/t over 1.4m and 12.86 g/t over 0.5m. For more information contact: (604) 689-1957, fax: (604) 685-1946, email: [email protected].