Candente Gold Ratifies Agreement with El Oro Municipality for Re- Processing Historic Tailings
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Candente Gold Ratifies Agreement with El Oro Municipality for Re-
Processing Historic Tailings
Vancouver, British Columbia, January 31, 201 9. Candente Gold Corp. (TSX V:CDG) ("Cand ente Gold”
and/or the “Company”) is pleased to announce that its Mexican subsidiary, Minera CCM El O ro Jales S.A.
de CV has renewed the option , originally signed in 2013 and both re-newed and revised in 2017 . This
agreement allows the Re-Processing of the tailings deposit derived from the Mexico Mine, part of the San
Rafael Vein in the El Oro District. The New Tailings Agreement signed in 2017 , is to be ratified every
three years, when the Municipality elects a new President and Council Members . There was no change to
any previous terms in the Ratified Agreement.
The Ratified Agreement, called the ‘Ratificación del Convenio de Usufructo de l Terreno Denominado Los
Jales Tiro México , (the “Ratified Tailings Agreement”), provides Candente Gold with the right to recover
all available gold and silver from the tailings deposit and pay to the Municipality of El Oro an 8% Net
Profits Interest (“NPI”). Candente Gold also retains the first US$1.5M from the 8%NPI payable to the
Municipality.
The Ratified Tailings Agreement is directly related to a Tourism Agreement, which allows the
Municipality of El Oro to operate tourism activities in part of the San Juan tunnel and the Providencia
Shaft which are historic workings cont rolled by Minera CCM S.A. de CV as part of the El Oro mineral
property. The State of Mexico has contributed significant financing of this tourism project which is part
of their larger initiative to promote tourism and mining together throughout Mexico.
The Mexico Mine tailings are located several kilometres apart from both the San Juan tunnel and
Providencia shaft and the tourism activities in these facilities would not impact the development of the
tailings.
About Candente Gold
Candente Gold’s flagship asset is El Oro, a district scale gold project encompassing a well -known prolific
high grade gold dominant silver epithermal vein system in Mexico. The project covers 20 veins with past
production and more than 57 veins in total, from which 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. Fl ores)
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 which contain an Inferred Resource* of 1,267,400 Tonnes grading
2.94 Au g/t, 75.12 Ag g/t containing 119,900 ounces of gold and 3,061,200 ounces of silver.
Candente Gold is dedicated to being a responsible Community partner.
*Note: Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All
figures have be en rounded to reflect the accuracy of the estimate. For more information see “National
Instrument 43 -101 Technical Report on the Inferred Mineral Resource Estimate of the Mexico Mine
Tailings” prepared by Nadia Caira, P.Geo. and Allan Reeves, P.Geo., dated August 25, 2014 with an
effective date of July 8, 2014 available at www.sedar.com.
NEWS RELEASE
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Joanne C. Freeze, P.Geo., President, CEO and Director is a Qualified Person as defined by National
Instrument 43-101 for the project discussed above. Ms. Freeze have re viewed 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.
Forward-looking Information
This news release may contain forward-looking information (as such term is 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 othe r 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 de velopment activities,
regulatory changes, defects 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 conditio ns. Candente Gold expressly disclaims any intention 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.
President, CEO and Director
For further information please contact:
Joanne Freeze
President & CEO
Tel: + 1 (604) 689-1957
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