Candente Gold announces approval of Warrants Extension
1
Candente Gold announces approval of Warrants Extension
Vancouver, British Columbia ( July 1 6, 2018) Candente Gold Corp. (TSXV:CDG) (“ Candente
Gold” and/or the “ Company”) announces that it has received approval from the TSX Venture
Exchange (“ TSXV”) to extend the exercise period of a total of 5,000,000 outstanding share
purchase warrants (the “ Warrants”) issued pursuant to the private placement completed on
August 12, 2016.
The original expiry date was August 12, 2018 and the new expiration date will be August 12,
2020.
The exercise price of the Warrants remain s unchanged at $0.10 with the acceleration clause
unchanged as follows: “Each full warrant will be exercisable for one additional share of the
Company’s common stock (a “ Warrant Share”) for two years at a conversion price of $0.10,
subject to an acceleration provision triggered if at any time the Company’s common shares have
a closing price on the TSX Venture Exchange at or above a price of Cdn $0.20 per share for a
period of 10 consecutive trading days”.
About Candente Gold
Candente Gold’s flagship asset is El Oro, a district scale gold project encompassing a well -known and
prolific, high grade gold dominant , silver epithermal vein system in Mexico. The project covers 20 vei ns
with past production and more than 57 veins in total . Approximately 6.4 million ounces of gold and 74
million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico
Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores)
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s veins hold
excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael
Vein, which was mined to an average depth of only 200 metres.
In addition to the hard rock potential, Candente Gold is investigating the potential to recover gold and
silver from the Mexico Mine Tailings by granting Sun River Gold Corp. (“SRG”), the right and option to
further test and, if proven economic, develop and operate the Company’s tailings project in El Oro Mexico
(the “Tailings Project”). Under the option, Sun River is to make staged payments, totalling US$500,000
over 28 months, bring the mine tailings into commercial production within 36 months, and grant to the
Company a 5% of net profits (“NPI”) Life of Mine royalty on production from the tailings. Candente Gold
has the right to re-process the tailings under an agreement with the Municipality of El Oro.
Candente Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., Director , President and CEO , is the Qualified Person as defined by National
Instrument 43-101 for the project discussed above. Ms. Freeze has reviewed and approved the contents of
this release.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
NEWS RELEASE
2
Forward-looking Information
This news release may contain forward -looking information (as such term i s defined under Canadian
securities laws) including but not limited to information regarding the processing of tailings to generate
short-term cash flow, the potential for discovery in the El Oro district and other statements that are not
historical facts. While such forward -looking information is expressed by Candente Gold in good faith
and believed by Candente Gold to have a reasonable basis, they address future events and conditions
and are therefore subject to inherent risks and uncertainties including those set out in Candente Gold’s
MD&A. Factors that cause the actual results to differ materially from those in forward -looking
information include, without limitation, gold prices, results of exploration and development activities,
regulatory changes, d efects in title, availability of materials and equipment, timeliness of government
approvals, potential environmental issues, availability of capital and financing and general economic,
market or business conditions. Candente Gold expressly disclaims any i ntention or obligation to update
or revise any forward -looking information, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo.
For further information please contact:
Joanne Freeze
President & CEO
+1 (604) 689-1957
NR 068