70% Interest Earned in on El Oro Gold-Silver Project

VANCOUVER, BC – Candente Gold Corp. reported that it has fulfilled all requirements necessary to complete the exercise of its second option to earn an undivided 70% interest in the El Oro Gold Project located in Mexico and Michoacan States of Mexico, from Goldcorp S.A. de C.V. ("Goldcorp Mexico", formerly Luismin S.A. de C.V.) a subsidiary of Goldcorp Inc.

"We are very pleased to lock in 70% ownership of the El Oro gold-silver project," said Joanne Freeze P.Geo., President & CEO. "We believe that the large number of high grade gold and silver intersections well below the historical workings of the San Rafael Vein strongly indicate that the El Oro district has excellent potential to host additional high-grade zones, both lateral to and beneath old workings in the Historic Mining Area." Production between the late 1800s and 1939 was reported to be approximately 6.4 million ounces of gold and 74 million ounces of silver predominantly from two veins.

Candente Gold completed the first option and earned a 50% interest in the property on February 15 2011, by incurring $5M in exploration expenditures (including a minimum of US$1.5M in the Exploration Area), and issuing 1,000,000 shares in the capital of the Company.

Candente Gold recently fulfilled all requirements necessary to complete the second option, and earn an additional 20% in the El Oro Gold Project, for a total of 70%, by spending an additional US$5M (US$10M total) and issuing an additional 1,000,000 common shares (2,000,000 total) in the capital of the Company. Goldcorp Mexico has a period of 90 days from May 1st, 2012 to advise Candente Gold of its decisions regarding options.