VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 15, 2014) – Candente
Gold Corp. (TSX:CDG)(LMA:CDG) (“Candente Gold” or “the
Company”) is pleased to report that Paul H. Barry has been appointed as an
Independent Director.
Mr. Barry has over thirty years of operating experience in the mining
and energy industries in senior executive roles. Currently, Mr. Barry is
engaged by Balfour Beatty Infrastructure Partners to serve as Chief Executive
Officer designate of Upper Peninsula Power Holding Company in its acquisition
of the regulated electricity provider serving 10 counties in the central and
western areas of Michigan’s Upper Peninsula.
From 2011 to 2012, Mr. Barry served as Executive Vice President &
Chief Financial Officer of Kinross Gold Corporation where he oversaw $16.5
billion of assets, raised $5 billion in new debt financing, and advised the
Board regarding capital spending across four global regions.
Mr. Barry also serves as Senior Advisor, Mining & Metals, to Atlas
Advisors, a New York City-based independent investment banking firm
specializing in mergers and acquisitions and corporate finance advisory
services. Mr. Barry serves on the Board of Directors of Forbes Royalty
Corporation, a Toronto-based Royalty Company formed to acquire a diverse
portfolio of precious metals and natural resources royalties and streaming
interests. Mr. Barry is also a member of the Board of Advisors of Orgone
Development L.L.C., a Ghana power project developer focused on investing in the
electrification of Sub-Saharan Africa especially for gold mining operations.
“We are extremely pleased to have Paul join us and bring his
wealth of experience in mine finance to our team, especially now as we are
focused on the potential for near term cash flow from the El Oro Tailings
deposit,” commented Joanne Freeze, President and CEO of Candente Gold.
“I am delighted to join the Board of Candente Gold Corporation, a
global mining company with an excellent opportunity to revive the historic El
Oro Gold District,” said Mr. Barry.
“Having worked in the past with Paul, at Kinross Gold Corporation,
we both having been members of Kinross’ Senior Leadership Team, I have no doubt
he will bring significant financial acumen to Candente Gold,” added Ken
Thomas, Independent Director.
Mr. Barry has worked for some of the largest global energy companies
including GE, Amoco/BP, Westinghouse, Duke Energy, and Pepco. He has served as
a member of the Board of Directors for AG Industries, Inc., Trans-Elect, Inc.,
Potomac Electric, Delmarva Electric, and Atlantic City Electric.
Mr. Barry graduated magna cum laude from Northeastern University and
received an MBA from Harvard Business School where he also attended the
Executive Program.
About Candente Gold
Candente Gold’s flagship asset is El Oro, a district scale gold project
encompassing the largest and most prolific high grade gold dominant epithermal
vein system in Mexico. The project covers 20 veins with past production and
more than 57 veins in total, from which approximately 6.4 million ounces of
gold and 74 million ounces of silver were reported to have been produced from
just two of these veins.
Current focus is the historic tailings deposit left from pre-1930s
milling of ores from the Mexico Mine in the El Oro District in Mexico State,
Mexico. The tailings have had extensive historic assessments including drill
testing and metallurgical test work. The tailings deposit lies within the town
of El Oro and covers an area of approximately 5.6 hectares that once reclaimed,
will be available for the town’s future development. The tailings are adjacent
to existing road access, power and water services.
Modern understanding of epithermal vein systems strongly indicates that
several of the El Oro district’s veins hold potential for discovery of
significant gold and silver mineralization, particularly below the historic
workings of the San Rafael Vein, which was mined to an average depth of only
200 metres and produced 4 million ounces gold and 44 million ounces of silver.
Qualified Persons
Joanne C. Freeze, P.Geo., President and CEO of Candente Gold, Sean I.
Waller, P.Eng., Vice President of Candente Gold and Nadia Caira, P.Geo. of
World Metals Inc. (formerly Argonaut Gold Odyssey Inc.) are the Qualified
Persons as defined by NI 43-101 for the project discussed above and have read
and approved the contents of this release.
This news release may contain forward-looking information (as such term
is defined under Canadian securities laws) including but not limited to
information regarding the processing of tailings to generate near-term cash
flow, other statements that are not historical facts. While such
forward-looking information is expressed by Candente Gold in good faith and
believed by Candente Gold to have a reasonable basis, they address future
events and conditions and are therefore subject to inherent risks and
uncertainties including those set out in Candente Gold’s MD&A. Factors that
cause the actual results to differ materially from those in forward-looking
information include, without limitation, gold prices, results of exploration
and development activities, regulatory changes, defects in title, availability
of materials and equipment, timeliness of government approvals, potential
environmental issues, availability of capital and financing and general
economic, market or business conditions. Candente Gold expressly disclaims any
intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except in accordance
with applicable securities laws.
On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo., President & CEO
NR 035
Candente Gold Corp.
Walter Spagnuolo
Manager, Investor Relations
Mobile: +1 (604) 306-8477 or
Local: + 1 (604) 689-1957 ext 3
Toll free: 1 (877) 689-1964 ext
3
Candente Gold Corp.
Nataly Reategui
Investor Relations, Peru
(511) 717-1233
(511) 715-2001 ext 107
