Candente Gold has exercised its option to acquire a 50% interest in the El Oro Gold Project, owned by Luismin S.A. de C.V., a subsidiary of Goldcorp. Inc.
鈥淲e are very pleased to lock in 50% ownership of the El Oro Gold Project, and to continue our exploration of the El Oro district in order to acquire an additional 20% interest,鈥� said Joanne Freeze P.Geo., President & CEO. 聽鈥淲e believe, particularly in light of recent discoveries, that El Oro may host multiple zones of gold and silver mineralization, and that it has the potential for the discovery of additional high-grade zones beneath the historic workings where 6.4 million ounces of gold and 74 million ounces of silver were produced.鈥�
Candente Gold also has a second option to earn an additional 20% in the El Oro Gold Project, for a total of 70%, by spending an additional US$5M and issuing an additional 1,000,000 common shares in the capital of the Company by November 30, 2013.
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