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Gold/Mining/Energy : Candente Resource Corp - DNT.V -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (5)	5/22/2002 1:55:39 PM
From: Al Collard	Respond to of 26

Candente buys Newfoundland properties; closes financing Wed 22 May 2002 News Release Ms. Joanne Freeze reports CANDENTE ACQUIRES TEN ADDITIONAL GOLD PROPERTIES IN CENTRAL N ... Candente Resource has acquired 10 additional properties in central Newfoundland where Barrick and other companies are exploring the Botwood basin for mineralization similar to that of the Carlin trend of Nevada. These properties have been acquired on the recommendation of Larry Kornze, who recently retired as exploration manager for Barrick and was involved with discovery of over 40 million ounces of gold in the Carlin trend of Nevada. Candente's new properties cover gold showings, gold and barium geochemical anomalies, rock types and structural controls all considered favourable for hosting Carlin-style or other bulk-tonnage-style-gold mineralization. The properties comprise a total of 734 claims, which were staked after making an agreement with local prospectors, Kevin Keats and Allan Keats of A.S.K. Prospecting and Guiding Inc. (A.S.K.). Staking of the claims was financed by Candente. A.S.K. will receive 200,000 common shares in the company and a 0.75-per-cent net smelter royalty on the properties as well as additional shares in the company based upon the development progress of each property. The net smelter royalties may be reduced to 0.25 per cent with the company making certain payments. The Keats have over 30 years of experience in central Newfoundland, with several companies including Noranda and have discovered several significant gold showings in the region including Candente's Linear property. The company has closed the private placement reported in Stockwatch April 24, 2002, and revised on May 11, 2002. A total of 2.85 million units was sold to raise total proceeds of $997,500. All securities will be subject to a four-month hold period expiring Sept. 17, 2002. The funds will be used for general working capital and exploration programs on the company's gold properties in Newfoundland and Peru.