Ms. Joanne Freeze reports

CANDENTE COPPER CLOSES STRATEGIC PRIVATE PLACEMENT WITH WHITTLE AND FORTESCUE METALS

Candente Copper Corp. has closed the previously announced non-brokered private placement with Whittle Equity Pty. Ltd. and Nascent Exploration Pty. Ltd., a wholly owned subsidiary of Fortescue Metals Group Ltd.

A total of 4,761,777 common shares of the company were issued at 18 cents per share, reflecting a 38-per-cent premium to market, for gross proceeds of $867,120. The shares are subject to a statutory four-month hold period. The proceeds of the private placement will be allocated to working capital, and to an updated, optimized National Instrument 43-101 preliminary economic assessment (PEA) currently under way and targeted for publication by Q3 2023.

"We are very excited about the upcoming introduction of Alta Copper Corp., an emerging copper developer advancing with the global shift toward electrification and decarbonization, and an updated PEA on Canariaco where several opportunities to further improve already robust project economics have been identified, as well as carbon neutralization and further environmental, social and governance (ESG) benefits," commented Joanne Freeze, president and chief executive officer of Candente Copper.

The private placement is subject to Candente Copper's completion of its final filings with the Toronto Stock Exchange.

About Candente Copper Corp.

Candente Copper is focused on the development of its 100-per-cent-owned Canariaco advanced-stage copper project. Canariaco comprises 97 square kilometres of highly prospective land located 150 kilometres northeast of the city of Chiclayo, Peru, which include the Canariaco Norte deposit, Canariaco Sur deposit and Quebrada Verde prospect, all within a four km northeast-southwest trend in northern Peru's prolific mining district. Canariaco is one of the largest copper deposits in the Americas not held by a major.

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