VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2011) -


Candente Copper Corp. (TSX:DNT)(BVLAC:DNT) ("Candente" or the "Company")

Further to its press releases of January 26 and 27, 2011, Candente is pleased to announce that it has closed its financing by way of a bought deal private placement (the "Bought Deal Offering") with a syndicate of underwriters led by Dundee Securities Ltd. and Scotia Capital Inc., as lead underwriters, and including Raymond James Ltd., Wellington West Capital Markets Inc. and Stonecap Securities Inc. (collectively the "Underwriters") for total gross proceeds of $26,969,800, inclusive of the proceeds from the full exercise of the over-allotment option granted to the Underwriters. The Company issued an aggregate of 13,156,000 common shares in the capital of the Company (the "Shares") at a purchase price of $2.05 per Share. In addition to the Bought Deal Offering, the Company has completed a non-brokered private placement issuing 1,563,415 Shares at a price per Share of $2.05 for gross proceeds of $3,205,000.75 (the "Non-Brokered Offering").

In consideration for its services with respect to the closing of the Bought Deal Offering, the Underwriters received a cash commission equal to 5% of the gross proceeds of the sale of Shares in the Bought Deal Offering. In consideration for its services with respect to the closing of the Non-Brokered Offering, Kallpa Securities Sociedad Agente de Bolsa of Peru received a cash commission equal to 5% of the gross proceeds of the sale of Shares in the Non-Brokered Offering.

The net proceeds of the Bought Deal Offering and Non-Brokered Offering will be used for the advancement of the Cañariaco Norte copper project, exploration, and general corporate purposes. The securities issued under the offerings are subject to a four month hold period in Canada.

About Candente Copper Corp.

Candente Copper Corp. is a TSX listed mining company focused on exploration and development of base metal mining projects in Peru and Latin America. Candente's flagship project is the 100% owned Cañariaco Norte project located in northern Peru's prolific mining district.

The Pre-Feasibility Progress Report recently completed on Cañariaco Norte by AMEC Americas Ltd. concludes that with a projected annual production of 262 million pounds of copper, 39,000 ounces of gold, and 911,000 ounces of silver over a mine life of 22 years, the Cañariaco Norte project has an after tax Net Present Value of US$960 million, and after tax Internal Rate of Return of 17.7% using a long term copper price reverting to US$2.25/lb and a discount rate of 8%. The key parameters of the Pre-Feasibility Progress Report are set out in Candente's news release dated January 18, 2011 (New Release 014).

On behalf of the Board of Candente Copper Corp.

Joanne C. Freeze P.Geo., CEO & Director


We advise U.S. investors of terms that are not recognized by the United States Securities and Exchange Commission ("SEC"), including "mineral resources", "measured resources", "indicated resources" and "inferred resources". The estimation of measured and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that mineral resources in these categories will be converted to reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically mineable, or will be upgraded into measured or indicated mineral resources. U.S. investors are cautioned not to assume that mineral resources in any of these categories will be converted into reserves.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the proposed use of the proceeds of the Bought Deal Offering and the Non-Brokered Offering, timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, those risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis filed with certain securities commissions in Canada and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

Contact Information: Candente Copper Corp.
John Foulkes
VP Corporate Development
mobile: +1 (604) 614-2999 or local: + 1 (604) 689-1957 ext 2
or toll free: 1 (877) 689-1964 ext 2
Candente Copper Corp.
Walter Spagnuolo
Manager, Investor Relations
mobile: +1 (604) 306-8477 or local: + 1 (604) 689-1957 ext 3
Candente Copper Corp.
Nataly Reategui
Investor Relations, Peru
(511) 715-2001 ext 107
(511) 717-1233 (FAX)