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CIM Cagim Real Estate Corp

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Candente Copper Appoints CFO

16/08/2012 9:00am

Marketwired Canada


Candente Copper Corp. (TSX:DNT)(PINKSHEETS:CCOXF)(BVL:DNT) ("Candente Copper")
is very pleased to announce the appointment of Mr. Anthony Pitirri, C.A. as
Chief Financial Officer. Candente Copper is also pleased to announce that Sean
Waller, President and Director, has been named as the Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM") incoming President Elect, and will
serve as the CIM's President in 2014.


Anthony Pitirri Appointed as Candente Copper CFO

Joanne Freeze comments, "Mr. Pitirri brings to us expertise in mine finance and
operations in various parts of the world. We now have excellent expertise in all
aspects of mining from discovery through engineering and into operations." 


Mr. Pitirri has extensive experience in the mining and renewable energy sectors,
particularly in the financing and development of mining and energy projects in
Latin America and Africa. His expertise also extends to international tax
structuring, corporate and project financing, public company reporting, the
design and implementation of project and financial controls, and the development
and auditing of IT systems for natural resource companies.


Mr. Pitirri holds and has held senior management positions with CuCo Resources
Limited, Ram Power Corp., Polaris Geothermal Inc., and Polaris Energy Nicaragua
S.A. Mr. Pitirri has also held a management position at BDO Dunwoody LLP,
providing accounting and advisory services to public companies in the natural
resource sectors.


Mr. Pitirri received a Bachelor of Commerce Degree from York University in
Toronto, Ontario, Canada in 2000, and has been a member of the Institute of the
Chartered Accounts of Canada since 2004.


"I am very excited to have the opportunity to be involved with the development
of Canariaco Norte," commented Mr. Pitirri. "The progress made by Candente
Copper to date on the project's development has been impressive, and I look
forward to being part of the team as we advance through the feasibility study
and into development."


Mr. Pitirri succeeds Ms. Aurora Davidson, who has served as Chief Financial
Officer of Candente Copper since 2008. Joanne C. Freeze, Chairman and CEO of
Candente Copper, states, "On behalf of the board of directors and management
team, I would like to thank Aurora for her contributions to the growth and
development of the Company. She has been an invaluable member of our senior
management team and we all wish her the best in her future endeavors."


Sean Waller Appointed as CIM President Elect

Candente Copper is also pleased to announce that Sean Waller, P. Eng., Candente
Copper President and Director, has been appointed Incoming President Elect by
the Canadian Institute of Mining, Metallurgy and Petroleum, will become
President Elect in 2013, and then serve as President of the CIM in 2014. Mr.
Waller has previously served on the CIM National Executive Council, and is a
past Vice President for District 6 (British Columbia and Yukon). Mr. Waller's
role with the CIM is part time and voluntary - he will continue with his primary
role as President and Director of Candente Copper throughout his tenure at the
CIM.


The Canadian Institute of Mining, Metallurgy and Petroleum, founded in 1898, is
the leading technical society of professionals in the Canadian minerals, metals,
materials and energy industries. The CIM's 13,000 national members are drawn
from every major region of the country, with the national membership augmented
by thousands of local members in dozens of coast-to-coast branches. The CIM
members work in industry, government and academia, and are dedicated to the
discovery, production, and economics of Canada's minerals, metals, materials,
and energy resources.


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, Director & Chair

NR-038

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