CANDENTE RESOURCE CORP.
MANAGEMENT’S DISCUSSION AND ANALYSIS
This Management’s Discussion and Analysis (“MD&A”) provides a detailed analysis of the operating results and
financial position of the Company and should be read in conjunction with the Company’s unaudited consolidated
financial statements and related notes for the nine months ended September 30, 2007 (the “Financial Statements”)
which have been prepared in accordance with Canadian generally accepted accounting principles (see Note 1:
Nature of Operations and Continued Operations and Note 2: Summary of Significant Accounting Policies). Unless
otherwise stated, the information in this MD&A is expressed in United States dollars. This MD&A may contain
forward-looking statements about the Company’s future prospects, and the Company provides no assurance that
actual results will meet management’s expectations.
The following discussion and analysis is for the period ended September 30, 2007 compared with the period ended
September 30, 2006. This information is dated as of November 13, 2007.
Description of Business
Candente Resource Corp. (the “Company”) is a Canadian exploration and development company operating in Peru
and Mexico. The Company’s common shares trade on the Toronto Stock Exchange under the symbol “DNT”.
The Cañariaco and El Oro Properties are the Company’s highest priority projects.
Summary of events during 2007 Q3 and to the date of this report are as follows:
• The Company continues to drill on the Cañariaco Norte Copper Deposit focusing on infill drilling in the
Starter Pit Zone and expanding the size of the deposit laterally and vertically and for all feasibility
requirements. Environmental (EIA) and Feasibility studies have been underway since January and May
2007, respectively. Preliminary results from some of the recent leach testing by SGS Lakefield in Chile are
expected to be received in the near future.
On May 14, 2007, the Company reported that the Company and the