Candente Resource Corp.: Gold Results-Columbia Property-Peru.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 18, 2001

Candente Resource Corp. (CDNX:DNT) is pleased to provide the following update on the Columbia Property located in Central Peru.

Highlights

- Previously unidentified gold anomalies in rock chip samples up to 3.5 grams per tonne (gpt) and in soils, up to 671 ppb (0.67 gpt), have recently been delineated on the Columbia Property in Central Peru

- Gold and copper mineralization is exposed in trenches and outcrops over 10 to 300 metre widths, 400 metres vertically and a one km strike length. Chip samples in outcrops include values of up to 3.5 gpt gold and 3.5% copper and consecutive trench samples include 0.42 gpt gold and 1.2% copper over a 25 metre width.

- Numerous gold anomalies (up to 473 ppb) in soils occur east of the trenches over an area 2.5 by 3 km. West of the trenches, a large anomaly with values of up to 671 ppb extends over one (1) square km. The significance of the gold anomalies in soils is enhanced by the fact that although the trenched area has gold mineralization in outcrop, the soils in this area only contain minor gold anomalies.

- Surrounded by six small, high-grade gold and copper operations and 15 km from the Raul/ Condestable Mines which have produced 20 million tonnes grading 0.5 gpt gold and 1.5% copper

- US$500,000 previously invested in exploration of the property

- Target is similar to Candelaria, Chile and Olympic Dam, Australia

- A number of high-priority drill targets have been delineated - several additional anomalous zones will be trenched prior to drilling

Maps and photos are available at www.candente.com. Call Joanne C. Freeze, President & CEO, at [phone] for more information.