Latest Peruvian Mining News Headline

Candente Resource announced an updated mineral resource estimate on its wholly-owned Cañariaco Norte copper project located in Lambayeque Department, northern Peru. At a 0.3% Cu cut-off grade, measured and indicated resources total 622 Mt grading 0.47% Cu for 6.47 billion pounds contained copper. Inferred resources are estimated at 128 Mt grading 0.43% Cu for 1.21 billion pounds contained copper. A higher grade, near-surface resource shell of 102 Mt of measured and indicated mineral resource grading 0.57% Cu containing 1.28 billion lbs of copper at a 0.3% Cu cut-off grade offers the potential for accelerated production of this material and improved project economics. Estimates for potential by-product credits from gold and silver are expected to be completed by 3Q 2008.