Candente Gold Clarifies Non 43-101 Compliant Disclosures

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[{"type":"text","content":"Candente Gold Clarifies Non 43-101 Compliant Disclosures(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TheNewswire / June 2, 2016. Candente Gold Corp. (TSXV:CDG) (\"Candente Gold\" and/or the \"Company\") announces that \"as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.\" \n\n\n \nThe British Columbia Securities Commission (\"BCSC \") advised the Company in a comment letter dated May 25, 2016 that some of our disclosure regarding exploration targets and historical estimates on the El Oro Property was not compliant with NI 43-101. The company clarifies these items as follows, and is in the process of preparing compliant target estimates for re-statement.\n\n\n \n\n\n1.An illustration titled \"San Rafael Vein Exploration Potential\", which appeared in our corporate presentations as well as our Fact Sheet disclosing exploration targets, which are not 43-101 compliant. This illustration disclosed \"exploration potential\" in Zones B, C, and D, however these exploration targets are not compliant because: i) quantities and grades were not given in ranges, ii) it lacked discussion about the basis for the Zone B, C, and D estimates; iii) it lacked details of local sampling data to support the estimates, and because grades exceeded stated average grade of past production. The Company is estimating ranges of grade and tonnage of these targets, based on the available data and information, and will restate them when final estimates are completed. \n\n\n\n \n \n\n\n2.The Company's website and some investor materials disclosed two Historical Conceptual Exploration Targets as a Historic Mineral Resource and also as \"Remnant Resources\". NI 43-101 restricts the re-designation of these targets using the term \"resource\" before delivery of an initial current resource estimate, and the Company retracts the designations historical resource and remnant resource. The Historical Conceptual Exploration Targets referred to were the result of work by Luismin in 1992 (now subsidiary of Goldcorp Inc.) who estimated that a portion of the San Rafael vein hosted a potential in-situ estimate. The Fact Sheet also included cautionary language of s.2.4(g) of NI 43- 101, suitable for a \"historical estimate\" but not for an \"exploration target\"; this was poten...

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