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|  The Pamel prospect covers approximately 5,800 hectares in the Western Cordillera of the Peruvian Andes. The property is a high-sulphidation gold target with many geological similarities to major gold deposits such as Yanacocha, Pierina and Alto Chicama, which together contain in excess of 50 million ounces of gold. The property covers a very extensive mineralized zone of two kilometers by four kilometers. This zone is characterized by unique clay alteration and geochemical anomalies (mercury, arsenic, antimony, barium, lead and gold) in a zoned pattern. In November 2005 Candente entered into an option agreement with Orex Ventures Inc. whereby Orex can earn a 51 percent interest in the Pamel gold property in Central Peru. Orex has the right to earn a 51 percent interest in the property by incurring exploration expenditures of US$2.5 million over 3.5 years on the property. Candente has the right to operate all exploration over the 3.5 years. The company expects to begin drilling during the second quarter of 2006.
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