Candente Gold Issues Stock Options to New Director
Vancouver, July 31, 2019 - Candente Gold Corp. (TSXV:CDG) (OTC:CGDXF) ("Candente Gold" and/or the "Company") is pleased to announce that the Company has granted stock options (the "Options") to Mr. Matthew Melnyk, Director of the Company, to purchase up to 250,000 common shares of the Company at an exercise price of $0.05 per common share which will vest 25% every six months and will have a five-year term, expiring on July 29th, 2024. The grant of Options is subject to approval by the TSX Venture Exchange.
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 veins 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 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.
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 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, 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 conditions. 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
For further information please contact:
Joanne Freeze
President & CEO
+1 (604) 689-1957
info@candentegold.com