Botwood Basin

[Ed Monton]

Goldcorp-Candente to Drill Staghorn Property in
Newfoundland

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 26, 2004) -
Candente Resource Corp. - DNT:TSX-V ("Candente") is pleased to
announce that the Company has received approval and funding from
Goldcorp Inc. - GG:NYSE; G:TSX ("Goldcorp") to carry out a Phase
I drilling program on the Staghorn property in Newfoundland. The
Strategic Partnership Agreement between Candente and Goldcorp
allows Goldcorp to earn up to a 70% interest in the Staghorn
property by assuming all expenditure obligations and completing
bankable feasibility studies by January 2010.

New Valley Drilling of Springdale Newfoundland has been
contracted to conduct the initial 2,700 metres (m) of diamond
(core) drilling on the property. Drilling is expected to commence
in August this year. The styles of mineralization, host rocks,
structural setting and geochemical signature found to date on the
Staghorn Property are all typical of intrusion hosted-orogenic
deposits such as the 175 and 19 million ounce gold deposits at
Muruntau and Kumtor in Central Asia.

Several drill targets have been delineated over a 2.5 km trend
where gold mineralization has been found on surface at several
locations and high chargeability zones extending to depth appear
to be associated with gold mineralization.

The gold mineralization (0.5 to 25.7 grams per tonne (gpt) gold)
is evident in three main trenched zones in bedrock, angular rock
float, soils and heavy mineral concentrate (HMC) samples. Gold
values ranging from 0.5 to 13.5 gpt (several in the 1.5 to 5 gpt
range) occur in the main zone in rocks comprising one metre
channels in trenches, selected samples and angular float in pits
over a 70 by 30 m area. Outside the trenched area overburden
masks outcrop exposure over much of the property.

The high chargeability zones appear to be associated with gold
mineralization as they both occur within the same structural
trend. The high chargeability signature also fits that expected
for a sulphide bearing gold system similar to the type of
mineralization found to date on the property. The high
chargeability zones were identified by an Induced Polarization
(IP) survey and occur over a 3.2 km extent.

The Staghorn property is located in southwestern Newfoundland,
approximately 60 kilometers southeast of the seaport of
Stephenville. Commercial air service is available to Stephenville
and access by road from Stephenville is a 45 minute trip. The
physiography of the property is characterized by rolling hills
with stunted evergreen growth, shallow lakes and bogs with
elevations ranging between 200 and 400 meters above sea level.

For more technical details please refer to:
http://www.candente.com/s/projects_staghorn.asp.

Candente is also currently drilling on the Alto Dorado gold
property in Peru. For more information regarding the Alto Dorado
Property, please refer to:
http://www.candente.com/s/Projects_Peru.asp?PropertyInfoID=655&View=1.

Candente is a well-funded mineral exploration company focused on
the acquisition and exploration of world-class gold and copper
projects. Management has a strong geological/technical focus and
a track record of discovering world-class mineral deposits.
Candente has a policy of ensuring that its exploration and
development activities are beneficial to the local communities.

ON BEHALF OF THE BOARD OF DIRECTORS

Joanne Freeze, P. Geo., President & CEO

Candente Resource Corp.

This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Candente relies upon
litigation protection for forward-looking statements.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Candente Resource Corp.
Joanne Freeze, P. Geo.
President & CEO
[phone] or Toll Free: 1-877-689-1964
Email: [e-mail]
Website: www.candente.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.