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VANCOUVER, BRITISH COLUMBIA, February 1, 2010 - Corriente Resources Inc. ("Corriente") is pleased to announce that the formal bid circular in respect of the offer by CRCC-Tongguan Investment (Canada) Co., Ltd. (the "Offeror"), a jointly-owned indirect subsidiary of Tongling Nonferrous Metals Group Holdings Co., Ltd. ("Tongling") and China Railway Construction Corporation Limited ("CRCC") to acquire at a price of C$8.60 in cash per share all of the outstanding common shares of Corriente, including all shares that may be issued on the exercise of options granted under Corriente's stock option plan, has been mailed to Corriente's registered shareholders and option holders. Corriente has also mailed its directors' circular recommending that Corriente's shareholders accept the offer. On December 28, 2009, Corriente, CRCC and Tongling announced the intention of CRCC and Tongling to make a supported take-over bid for Corriente, valuing the total common share capital of Corriente at approximately $679 million (on a fully-diluted basis). The offer represents a 27% premium to Corriente's average trading price on the Toronto Stock Exchange for the 30 trading days ended December 24, 2009, the last trading day before the announcement of the support agreement. All officers and directors and certain employees of Corriente, representing in aggregate approximately 13.2% of the common shares outstanding on a fully-diluted basis, have agreed to tender their shares to the offer pursuant to lock-up agreements entered into with the Offeror. The offer is scheduled to expire at 5:00 p.m. (Vancouver time) on Thursday, March 25, 2010. Full particulars of the offer are set out in the offer and circular filed by the Offeror, and the directors' circular filed by Corriente. These documents are available on the Canadian Securities Administrators' website at www.sedar.com, on the United States Securities and Exchange CommissionŐs website at www.sec.gov, and on CorrienteŐs website at www.corriente.com. "Ken Shannon" Kenneth R. Shannon North America Toll Free: 1-866-374-0472 Corriente Contact
Dan Carriere, Senior Vice-President, Certain statements contained in this News Release constitute forward-looking statements within the meaning of the United States Private Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding the structure and timing of the proposed transaction. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, the risk that any condition to the purchasers' obligations under the offer will not be met or that the acquisition of the Company's shares will not be completed for any other reason. Although these forward-looking statements are based on the expectations of management as of the date of this news release, we cannot guarantee future results, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. December 28, 2009 CRCC-TONGGUAN INVESTMENT CO., LTD. TO ACQUIRE CORRIENTE RESOURCES INC. FOR C$679 MILLION IN CASH
VANCOUVER, BRITISH COLUMBIA, December 28, 2009 – Corriente Resources Inc. ("Corriente" or the "Company") is pleased to announce that it has signed a definitive agreement (the "Support Agreement") with CRCC-Tongguan Investment Co., Ltd. (the "Offeror"), Tongling Nonferrous Metals Group Holdings Co., Ltd. ("Tongling") and China Railway Construction Corporation Limited ("CRCC"), under which the Offeror has agreed to make an offer to acquire all of the Company's outstanding shares (the "Offer") for C$8.60 per share in cash. The Offeror is jointly owned by Tongling and CRCC. This transaction is the culmination of a comprehensive review of strategic alternatives to maximize shareholder value conducted by Corriente and its financial advisors, Citi and Canaccord over the past two years. The Offer values Corriente at approximately C$679 million on a fully diluted basis and represents a 27% premium to Corriente's average trading price for the 30 trading days prior to and including December 24, 2009. The transaction is to be effected by way of a take-over bid. Full details of the Offer will be included in a formal offer and take-over bid circular, which is expected to be mailed to shareholders by February 1, 2010. The Offer will be open for acceptance for a period of not less than 35 days. The take-over bid circular will be accompanied by the Company's directors' circular, which will provide shareholders of the Company with, among other things, the rationale for the unanimous recommendation of Corriente's Board of Directors that shareholders accept the Offer. The Offer is subject to a number of conditions, including: absence of material adverse changes, a minimum tender condition of 66 2/3% having been met, and receipt of regulatory approvals (including required Chinese government approvals). The Board of Directors of Corriente has unanimously determined that the Offer is fair to Corriente's shareholders and is in the best interests of the Company and its shareholders. The Board of Directors recommends that shareholders tender to the Offer. Corriente's Board of Directors has received an opinion from the Board's independent financial advisor, CIBC World Markets Inc., that the consideration offered to the shareholders of Corriente pursuant to the Offer is fair, from a financial point of view, to such shareholders. All officers and directors of Corriente, who collectively hold approximately 12% of the Company's shares outstanding on a fully diluted basis, have entered into lock-up agreements with the Offeror, under which they have agreed to tender their shares to the Offer and that they will not support any rival offer unless it represents a superior proposal as determined by the Board of Directors. In the event that the transaction is not completed, under certain circumstances, Corriente has agreed to pay the Offeror a termination fee of C$20 million. The Support Agreement contains, among other things, non-solicitation covenants subject to customary "fiduciary out" provisions entitling Corriente to consider and accept an unsolicited superior proposal and the right on the part of the Offeror to match any such proposal. Commented Ken Shannon CEO of Corriente, "We are pleased to have reached an agreement with CRCC-Tongguan, who is committed to bringing their vision of responsible mining development to Ecuador. The Mirador and Panantza – San Carlos copper projects will require large scale capital investment by CRCC-Tongguan to unlock the infrastructure development, social benefits and jobs that will flow to the people of Ecuador. We are excited on behalf of our supporters in the nearby communities who can look forward to the leadership of an experienced and capable group at CRCC-Tongguan, supported by our dedicated local team." Citigroup Global Markets Inc. and Canaccord Financial Ltd. are acting as the financial advisors to Corriente, Bull, Housser & Tupper LLP is acting as legal counsel to Corriente and Blake Cassels as legal counsel to the Board of Directors. CIBC World Markets is acting as the independent financial advisor to Corriente's Board of Directors. BNP Paribas Capital (Asia Pacific) Limited and Macquarie Capital Advisers are acting as financial advisors and Davies Ward Phillips & Vineberg LLP is acting as legal counsel to Tongling, CRCC and the Offeror. ABOUT TONGLING, CRCC AND THE OFFEROR Tongling CRCC CRCC-Tongguan "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements within the meaning of the United States Private Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding the structure and timing of the proposed transaction. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, the risk that any condition to the purchasers' obligations under the Support Agreement will not be met or that the acquisition of the Company's shares will not be completed for any other reason. Although these forward-looking statements are based on the expectations of management as of the date of this news release, we cannot guarantee future results, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. November 9, 2009 ADVANCED DEVELOPMENT WORK AUTHORIZED FOR MIRADOR PROJECT
VANCOUVER, CANADA, November 09, 2009 - Corriente is pleased to announce that it has received a formal notification from the Ministry of Non-Renewable Natural Resources (formerly the Ministry of Mining and Petroleum) which establishes that the company is in full compliance with applicable legislation on its concessions and is authorized to restart all advance development work on the Mirador Project. Commented Ken Shannon, CEO of Corriente, "We are looking forward to working closely with the Ministry as we move the Mirador Project forward in a just fashion that meets both the urgent local needs and fully addresses the important concerns of all stakeholders." ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometres, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which announces the Ecuador Government's release of the Regulations to the Mining Law, as well as the status of the company's negotiations regarding the potential sale of the company, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2008, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. November 5, 2009 REGULATIONS TO THE MINING LAW SIGNED IN ECUADOR
VANCOUVER, CANADA, November 5, 2009 - the Company is pleased to announce that President Correa has signed the Regulations to the Mining Law that was proclaimed earlier this year. The ceremony for the Presidential approval was held on Wednesday, November 4, 2009 in Zaruma, Ecuador which is an important center for the small mining industry in Ecuador. The Company expects to receive a copy of the new Regulations shortly. Commented Ken Shannon, Corriente's President and CEO, "With the Regulations signed, real progress has been made in the development of a responsible mining sector in Ecuador. Corriente now will be able to carry out advanced development work on our projects under these new Regulations. We expect a significant increase in opportunities for members of our local communities who are the key stakeholders in a future which encompasses responsible mining. With the price of copper doubling since the beginning of the year as the global economy recovers, the outlook for the Company's projects has improved materially." Negotiations still continue with the selected party regarding the potential sale of the company as last reported in the Company's news release dated July 20, 2009. The extension of these discussions with the selected party has presented the company with an opportunity to respond to renewed interest we are receiving in our copper projects in Ecuador. Several groups have completed their review of project information in the company's data room and requests have been received for Ecuador site visits. Corriente intends to take advantage of this newly improved copper environment to ensure shareholders are presented with the best outcome. Further comments or announcements will be made by the company as developments warrant. No assurance can be given that the negotiations will result in an agreement for any sale of the company. ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometres, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which announces the Ecuador Government's release of the Regulations to the Mining Law, as well as the status of the company's negotiations regarding the potential sale of the company, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2008, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. July 20, 2009 ENVIRONMENTAL PERMIT AND WATER USE PERMIT APPROVED FOR MIRADOR PROJECT, ECUADOR
VANCOUVER, CANADA, July 20, 2009 – On March 17, 2009, Corriente Resources Inc. announced that all suspensions of field operations of the company were lifted. Continuation of our permitting activities at Mirador has led to approval by the Ministry of Environment of our updated Environmental Management Plan and by the Secretary of Water for our Water Use Permit. Securing these two key permits is an essential milestone for advanced operations to commence in the field. Separately, negotiations are continuing with the selected party regarding the potential sale of the company, as last reported in the company's news release dated June 9, 2009. Discussions are ongoing and management remains satisfied with the progress to date. Further comments or announcements will be made by the company as developments warrant. No assurance can be given that the negotiations will result in an agreement for any sale of the company. ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometres, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on permit approvals for the Mirador Project, as well as the status of the company's negotiations regarding the potential sale of the company, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2008, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. June 9, 2009 ECUADOR SIGNS COPPER DEVELOPMENT DEAL WITH CODELCO
VANCOUVER, CANADA, June 9, 2009 – Corriente Resources Inc. wishes to update shareholders on the following recent developments in Ecuador. Ecuador – Chile (Codelco) Copper Development Cooperation Agreement After the signing, President Correa delivered a speech to local communities and commented, "Colleagues I am an economist specializing in development… and I know what is necessary for the country to emerge from underdevelopment and to attend to the poorest. We cannot live as beggars sitting on a sack of gold...". Commented Ken Shannon, Corriente's President and CEO, "We welcome the participation of Codelco, the largest copper producer in the world, in the development of the copper sector in Ecuador. Their presence is an indicator of the success that the Government of Ecuador is having in advancing the theme of responsible mining and an indication that this message is being well received by the mining industry." Ecuador Government Officials' Tour of the Company's Projects Corriente was also able to provide a tour of our newly commissioned Mirador micro-hydro project, which provides clean energy for all of the needs of the Mirador camp through a small run-of-river hydro facility using the existing water supply. This power project is significant in that it utilizes the first "made in Ecuador" commercial turbine, which was completely designed and built within Ecuador by an Ecuadorian engineering team. This small-scale project is an example of the scalable green technology that can be part of responsible mine development. Plans are underway to examine other potential sites that can benefit from this Ecuador technology. Community Relations Agreement with the Shuar Federation of Zamora-Chinchipe Potential Sale of the Company ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometres, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on various recent events in Ecuador, as well as the status of the company's negotiations regarding the potential sale of the company, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2008, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Mar 31, 2009 NEGOTIATIONS CONTINUING FOR POTENTIAL SALE OF THE COMPANY
VANCOUVER, CANADA, March 31, 2009 – Corriente Resources Inc. announces that negotiations are continuing with the selected party regarding the potential sale of the Company, as announced on December 16, 2008. Management is pleased with the significant progress that has been made in the negotiations over the last few months, but more time is needed by the parties prior to reaching any agreement. Further comments or announcements will be made by the Company as developments warrant. No assurance can be given that the negotiations will result in an agreement for the sale of the Company. ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometers, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the status of the company''s negotiations regarding the potential sale of the Company constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company''s projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company''s Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Mar 25, 2009 CORRIENTE PROVIDES UPDATE ON CITI - CANACCORD ADAMS MARKETING PROCESS
VANCOUVER, CANADA, March 25, 2009 - Corriente Resources Inc. wishes to advise that, contrary to recent media reports, there are no material developments to disclose regarding ongoing exclusive negotiations for the potential sale of the company that were announced on December 16, 2008. ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometers, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the status of the company's Citi-CanaccordAdams marketing process constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Mar 17, 2009 ECUADOR GOVERNMENT OFFICIAL STATES THAT ALL SUSPENSIONS OF MINING ACTIVITIES ARE LIFTED
VANCOUVER, CANADA, March 17, 2009 - Corriente Resources Inc. announces that its Ecuador subsidiary has received an official notice signed by Minister Derlis Palacios Guerrero of the Ministry of Mines and Petroleum in Ecuador (the "MMP") which states that the company is authorized to reinitiate its field operations. Additionally, Corriente received its Water Use Concession for general water use at the Mirador camp on February 26, 2009 and will update its Environmental Permits and Water Use Concessions for exploration drilling with the appropriate agencies. According to Mr. Jose Serrano Delgado, Sub-Secretary of Mines of the MMP, "With the suspension lifting of the companies' activities, the Government has finished the phase of the process to organize the sector and is initiating a new stage where the development of projects of national priority, of which mining has a central role, will be pushed actively. The new rules handled by an honest government will create a scenario appropriate for the state, the communities, the workers, and investors responsible with society and the environment, and a scenario where the respect of the Constitution and law comes first." Corriente CEO and President, Ken Shannon, commented, "We are encouraged and pleased with the Ecuador Government's continuing progress in working together to establish an environment in which large-scale mining can participate for the benefit of all project stakeholders." ABOUT CORRIENTE The company also holds 100% of concession interests covering approximately 430 square kilometers, in which six additional copper exploration targets have been identified. Taken together, the known project deposits and exploration targets represent a potential long-term district development opportunity for large-scale copper-gold mining in southeast Ecuador. "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the status of the company's suspensions of mining activities in Ecuador constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Mar 2, 2009 ECUADOR GOVERNMENT OFFICIAL STATES THAT ALL SUSPENSIONS OF MINING ACTIVITIES ARE LIFTED
VANCOUVER, CANADA, March 2, 2009 - Corriente Resources Inc. advises that in a presentation given earlier today at the Prospectors and Developers Association of Canada Conference (Toronto, Canada), Dr. José Serrano Delgado, Sub-Secretary of Mines in the Ministry of Mines and Petroleum of Ecuador (the "MMP"), announced that the MMP has lifted all suspensions on mining activities in Ecuador, and that formal letters to this effect are in the process of being sent to mining companies. Corriente will provide further information on the above as it becomes available. ABOUT CORRIENTE "Dan Carriere" Daniel A. Carriere For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the status of the Mining Mandate and current suspensions of mining activities in Ecuador constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Dec 16, 2008 MARKETING PROCESS MOVES TO EXCLUSIVE NEGOTIATION STAGE
VANCOUVER, CANADA, December 16, 2008 - Corriente Resources Inc. announces as an update to its news release of October 21, 2008 regarding the Citi/Canaccord marketing process, that the Company has entered into a period of exclusive negotiations with a selected party. The negotiations have expanded from the original mandate to the potential sale of the Company. Subject to earlier termination in certain circumstances, the exclusive negotiation period will extend to March 31, 2009. No assurance can be given that the negotiations will result in an agreement for the sale of the Company. Further comments or announcements will be made by the Company as developments warrant. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides information on the Citi/Canaccord marketing processs, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Nov 18, 2008 ECUADOR GOVERNMENT ESTABLISHES TARIFF CUTS TO AID MINING DEVELOPMENT
VANCOUVER, CANADA, November 18, 2008 - Ecuador's Council of External Commerce and Investment ("COMEXI") has approved a resolution (Resolution No. 448) to eliminate the import tariffs on a range of equipment, especially those related to mining. This equipment list includes crushers, mills, screens and grinding balls. COMEXI is composed of representatives from a number of important Ecuador political institutions and Ministries, including Dr. Xavier Abad, who is also the Minister of Industries and Competitiveness. Commented Dr. Abad, "Resolution No. 448 of COMEXI is a clear signal of the decision of the Government to promote the development of mining projects in Ecuador that are responsible to the environment. The resolution expresses the spirit of COMEXI to facilitate the importation of capital items that are indispensable for mining activity." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides information on the Ecuador Government's plans for Tariff cuts, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Nov 12, 2008 ECUADOR GOVERNMENT ADVANCES ZAMORA HYDROELECTRIC COMPLEX
VANCOUVER, CANADA, November 12, 2008 - Ecuador's Ministry of Electricity and Renewable Energy has issued a bid tender for the feasibility study and detailed design of the Zamora Hydroelectric Complex located in the Zamora River in southeast Ecuador. The bid tender was launched in a ceremony attended by the Minister of Electricity and Renewable Energy, Alecksey Mosquera, the Sub-Secretary of Projects, Julio Gordon, and the Mayor of the Cantón of San Juan Bosco, Leonardo Molina. The State has earmarked 40 million dollars to complete the design of the complex which consists of a series of projects located 90% within the province of Morona Santiago and totaling over 4,000 MW of hydroelectric potential. For scale, the current installed capacity in Ecuador is approximately 4,000 MW. One of the most important sites in the complex is the 1,200 MW San Juan Bosco project located just 6 kilometers south of the company's Panantza - San Carlos copper deposits. Access road construction to the site is scheduled to begin in January 2009. Current plans call for the start of operation in 2015. Ken Shannon, Corriente's CEO, commented, "The development of such hydroelectric power projects indicates that President Correa and his Administration are committed to facilitating nation-building infrastructure for the benefit of all Ecuadorians." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides information on the Ecuador Government's plans for the Zamora Hydroelectric Complex, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Oct 28, 2008 ECUADOR GOVERNMENT GRANTS LICENSE FOR COPPER CONCENTRATE PORT PROJECT
VANCOUVER, CANADA, October 28, 2008 – The Ministry of Environment in Ecuador has approved the Environmental License for Corriente to build and operate a dedicated port near Machala for the shipping of copper concentrate from the Corriente Copper Belt. The company owns a 27 hectare port site on the Santa Rosa Channel in Machala, which is connected to the Mirador Project by a 400 km paved highway. The port provides access for a Pacific shipping route for the company's copper concentrate and is one of the key components of the infrastructure package required for development of the Corriente Copper Belt. Corriente received the Environmental Impact Study and the Environmental Management Plan approval for the port in May 2008 and has been working steadily with the Ministry of Environment to grant the Environmental License. Receipt of this License is a major step in the approval process for the port and is a clear indication of the course charted by the administration of President Correa, which is advancing mining in Ecuador. Corriente CEO and President, Ken Shannon, commented "We see approval of the Port License as part of the story of growing momentum for responsible mining in Ecuador and Corriente continues to work with the government of Ecuador to ensure this vision becomes reality." Approval of the new Mining Law is next on the legislative agenda of the Correa administration and approval of this Law will send a strong signal to international markets that Ecuador is committed to make responsible mining an important part of the country's future. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the company's Environmental License for its concentrate port, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Oct 21, 2008 DUE DILIGENCE VISITS COMPLETED IN ECUADOR
VANCOUVER, CANADA, October 21, 2008 – The previously announced marketing process being carried out by Citi and CanaccordAdams for Corriente's Panantza-San Carlos resource assets in Ecuador, has completed the field due diligence stage. Interested companies have met with local community groups and indigenous representatives as part of this due diligence process and have received strong messages of support and desires for responsible mining in their areas. Local stakeholders' concerns that were communicated directly to the potential investors include protection of the environment, improvement of local infrastructure and special preference for jobs, contracts and training for those in local communities. All of the companies that have completed the due diligence work have expressed an interest in investing in Corriente's entire package of copper and copper-gold assets in Ecuador. By having such companies involved, management believes that this would ensure that adequate capital would be available to develop the Panantza – San Carlos and Mirador – Mirador Norte Projects, as part of an infrastructure cluster that would be considered "nation-building", given the scope and multi-billion dollar size of the investments to be made in hydroelectric development opportunities, transmission lines, multiple mines, pipelines and a major port. The next stage in the company's marketing process will be to start negotiations regarding the terms of investment with the groups involved. These negotiations will be led by Citi and CanaccordAdams. Additionally, Corriente announces the signing of an agreement with SECAP, the Ministry of Labour and Human Resources' Professional Training Service, to start a mining industry training program in the company's project areas. This program is the first step in the creation of a well-trained local labour force to meet the requirements of the mining and support services sector, as it starts a period of major growth in south-east Ecuador over the coming years. "Through the creation of local capabilities, the President of the Republic has arranged to maximize the benefits and the inclusion of nearby communities to mining projects. SECAP is prepared to provide specialized training services and form the human resources necessary to achieve this goal. We are pleased to work directly with EcuaCorriente to start this process, it is important this work is coordinated between the government, the community and private industry," commented Soledad Cuenca, Regional Coordinator of SECAP. Corriente CEO and President, Ken Shannon, commented "The Corriente Copper Belt in southeastern Ecuador represents one of the very few remaining true district plays with the potential to help meet world demand for copper for decades. President Correa and the Ministry of Mines and Petroleum continue to assure international investors that the Government will support the growth of socially and environmentally responsible large-scale mining in Ecuador." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the company's Panantza-San Carlos Project marketing process, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. July 31, 2008 DUE DILIGENCE SITE VISITS UNDERWAY IN ECUADOR
VANCOUVER, CANADA, July 31, 2008 – The Panantza – San Carlos majority partnership marketing process that was outlined in the company's January 31, 2008 news release is continuing as planned. This process is being carried out under the direction of a Citi and CanaccordAdams team that has completed the work of securing confidentiality agreements and guiding potential partners through the electronic data room. We are now conducting in-country due diligence visits with a number of interested industry parties from around the world, all of whom have the capability of advancing a multi-Billion dollar copper district. The first due diligence trips have already been completed and more are in the planning stage over the next 60 days. The due diligence process includes a technical review of all of Corriente's assets in Ecuador and meetings with local community and indigenous representatives. In addition, meetings are being held with senior government officials in Quito to form a better understanding of the intentions of the Government of Ecuador regarding the development of responsible mining in the country. Following completion of the Ecuador due diligence phase, the advisory team plans to start negotiations regarding terms of an investment in one or more of the company's projects. As part of the ongoing dialogue with the Ecuador Government, the company's senior Ecuador management recently met with President Rafael Correa. President Correa's message to the Company was "I have a vision of responsible mining that will bring to the Ecuadorian people the benefits of resource development. Mining will go ahead in Ecuador and our role in government is to ensure such development is fair to all stakeholders, including the local communities." In a bid to ease access to the country for investors, while further encouraging Ecuador's growing tourism industry, the government has lifted all short term visa restrictions to allow unlimited travel to Ecuador for up to 90 days per year with no visa. The Ecuador Government also recently exempted import duties and taxes on many capital goods imported into the country until such time as COMEXI (the government's economic development body) determines such exemptions are no longer needed. Corriente CEO and President, Ken Shannon, commented "While President Correa's office has yet to release a draft of the government's new Mining Law, we remain optimistic that recent dialogue and events continue to confirm that mining will be an integral component of Ecuador's future economic and social development. With over CDN$ 86 Million in the treasury and an excellent Ecuador-based development team in place, Corriente is well-positioned to continue working with the Ecuador Government to develop a responsible mining industry for the benefit of all stakeholders." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release, which provides an update on the company's Panantza-San Carlos Project marketing process, constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, but not limited to, risks related to the exploration stage of the company's projects; discussions with prospective joint venture partners and related potential outcomes; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 25, 2008 CORRIENTE AND OTHER MINING COMPANIES MEET WITH PRESIDENT CORREA AND TOP OFFICIALS:
Correa Says Responsible Mining Will Go Ahead in Ecuador VANCOUVER, CANADA, April 25, 2008 – Corriente announces that the company and seven other mining companies (Aurelian Resources, Cornerstone Capital Resources, Dynasty Metals & Mining, Ecometals Limited, IAMGOLD, International Minerals Corporation and Salazar Resources) collectively met with President Correa and other top officials yesterday afternoon in Quito to discuss the future of mining in Ecuador and the impact of the previously announced Mining Mandate. The companies welcomed President Correa's repeated statements that responsible mining will go ahead in Ecuador. He said that the purpose of the Mining Mandate was to allow the Government to get its house in order and new mining laws in place so that responsible mining can proceed. The President invited the mining companies to meet with the Ministry (of Mines and Petroleum) to help formulate the new mining laws, starting this coming Monday, April 28. Present from the Government were President Rafael Correa; Dr. Galo Chiriboga, Minister of Mines and Petroleum; Dr. José Serrano, Deputy Secretary of Mines; Dr. Agustin Paladines, Mining Advisor to the President; Fernando Alvarado, Advisor to the President; Ricardo Patiño, Minister of Politics; and Dr. Ramon Torres, Business Advisor to the President. The Canadian Ambassador to Ecuador, Christian LaPointe, accompanied the companies and presented the concerns of the Canadian Government for a fair, stable and long-term investment environment in Ecuador. Corriente continues to seek clarity from the Ecuador Government regarding the Mining Mandate's specific application to the company's operations over the next six months and will issue updates as information becomes available. The Company looks forward to working with the Ministry starting next week. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release announcing an update on the recently announced Mining Mandate in Ecuador constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including risks related to the exploration stage of the company's projects; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 21, 2008 ECUADOR CONSTITUTIONAL ASSEMBLY - MINING MANDATE UPDATE
VANCOUVER, CANADA, April 21, 2008 - Further to the company's news release of April 18, 2008, Corriente has completed an initial review of the new Mining Mandate that was approved by the Ecuador Constitutional Assembly on April 18, 2008. A number of the articles contained in this Mandate are very unclear and consequently, we are not yet able to fully assess any potential impact on some of our concession holdings in the country. After a meeting with mining sector representatives on Friday, April 18, 2008, the President of Ecuador, through the Presidential Press, issued a statement clarifying the intent of the Mining Mandate, which states the following:
In March 2008, Corriente was given title confirmation from the Ministry of Mines and Petroleum ("MMP") as part of the company's annual audit process. This process confirmed that all of our concessions are in good standing. To date, we are not aware of any changes in the "good-standing" status of our concessions. We are in the process of finalizing meetings with the office of the President of Ecuador and the MMP over the next few days to be able to provide more clarity to investors about the intent and potential impact of the Mandate. Over the last eight years Corriente has invested over CDN$ 80 Million in its Ecuador projects, using capital provided by investors in Canada, United States and Europe. These capital contributions have allowed the company to advance the potential mineral wealth of Ecuador from a very early exploration stage, where almost nothing was known about the geology of southeast Ecuador, to establishing the existence and feasibility of world class copper resources. These resources have the potential to bring billions of dollars in infrastructure development and associated jobs for the benefit of the people of Ecuador. Uncovering the existence of these important copper resources has required years of drilling and engineering studies by our dedicated Ecuadorian team and support from local communities, who realize there can be a better future for their children utilizing the benefits from responsible resource development. Corriente CEO and President, Ken Shannon, commented, "We believe that the President's message has been consistent over the last six months. That message is that there is a place in Ecuador for responsible mining and Corriente supports the President in advancing this message. While the Mining Mandate has obscured this message, we do not believe there are any pervasive changes to the President's plans for mining in Ecuador. Clearly, it is important for the Government of Ecuador to provide greater clarity so that mining companies and their shareholders can believe in the Administration's plans for allowing responsible mining in Ecuador. Events such as those over the last few days confirm that frontier mining development requires patience and a long-term outlook. We continue to believe that mining can make an important contribution to the future in Ecuador. With over CDN$ 90 Million in the treasury and an excellent Ecuador-based development team in place, Corriente is well-positioned to continue working with the Ecuador Government in developing a responsible mining industry for the benefit of all stakeholders." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 18, 2008 ECUADOR CONSTITUTIONAL ASSEMBLY PASSES NEW MINING MANDATE
VANCOUVER, CANADA, April 18, 2008 – Corriente announces that it has been advised by its Quito office that earlier today the Constitutional Assembly of Ecuador passed a new Mining Mandate. The company has requested an official version of this Mining Mandate and will advise further as to the impact of this Mandate on the company's operations in Ecuador when the company's analysis is completed. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com . P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 3, 2008 UPDATED FEASIBILITY STUDY FOR MIRADOR SHOWS ATTRACTIVE STARTER PROJECT WITH MAJOR COPPER GROWTH POTENTIAL
Project to produce 130 Million pounds of copper annually VANCOUVER, CANADA, April 03, 2008 – Corriente announces that an updated Feasibility Study Technical Report ("FS") has been completed for the company's 100% owned Mirador Project ("the Project") in southeastern Ecuador. The FS projects an average of almost 130 Million pounds of annual copper production for the Project and shows a projected initial capital cost of approximately US$ 399 Million and approximately US$ 19 Million in working capital, which would be spent over a two year construction period prior to the start of production. The FS calls for daily throughput of the concentrator facility of approximately 30,000 tonnes per day, which is a material improvement over the original Feasibility Study results released by the company in April 2005, which planned for 25,000 tonnes per day. Mr. Ken Shannon, CEO of Corriente stated, "The Company is pleased that its efforts to continue to refine the economics of the starter project at Mirador are meeting with success and each iteration of the project shows increasing value for shareholders and stakeholders. Combined with our Panantza – San Carlos project, Corriente now has a fully stocked pipeline of near term and longer term projects from which to build a significant copper producer from the ground up."
Resources Total estimated resources for the Mirador Project (excluding Mirador Norte), at a 0.4% copper cut-off, are as follows:
The mine plan for the FS utilized 181 Million tonnes or approximately 41% of the overall Measured and Indicated Resource contained within the Mirador deposit. Mineral resources at the adjacent Mirador Norte project have not been included in the FS. Total estimated resources for Mirador Norte, at a 0.4% copper cut-off, are as follows:
Mining Ore and waste quantities were generated from a 3-D model of the deposit. The FS resource at Mirador of 181 Million tonnes was arbitrarily restricted in this starter project FS and with infrastructure changes, the portion of Mirador resources that could be available for mining would significantly increase (see Table above). The LOM strip ratio is estimated to be 0.81 (waste):1(ore). Processing The process plant is a conventional concentrator that would process 30,000 tonnes per day of copper ore containing 0.62% Cu, 0.20g/t Au and 1.63 g/t Ag over the life of the mine. The plant has been specifically designed to allow a doubling of throughput to 60,000 tonnes per day by twinning the process circuit beside the existing layout. Several major components of the flow sheet are already sized to cope with such an expansion, including the crusher and main ore conveyor. The copper concentrate produced is expected to average 30% Cu. The concentrate would be transported via a 418 km highway to a dedicated bulk materials port at Machala that is included in the planned mine infrastructure. The Corriente port site was granted approval for an Environmental Impact Assessment, as announced by the company on December 10, 2007. Infrastructure The existing Amazon highway system comes within six kilometres of the Project site and local gravel roads will require upgrading to improve mine access. The conceptual design of the FS calls for a 111 km, 230 kV transmission line to be constructed to connect directly to the main electrical grid at Sinincay. Socio-Economic The principal needs of the local communities and government are employment and infrastructure development. Extensive migration of residents within Ecuador and abroad has occurred because of the poor local job market. The company has been working on a program of dialogue over the last six years with the local communities and government to ensure that any development at Mirador is sensitive to their needs and fits with the requirement that projects are environmentally and socially responsible. Construction The estimated cost to build the 30,000 tonne per day plant and associated infrastructure is US$ 418 Million, including working capital of approximately US$ 19 million. Labour is estimated at 2.7 Million man-hours of direct construction work and mine pre-development. The execution period to allow for long lead-time items for the Project is estimated to be 36 months total, which includes a construction period of approximately 24 months. Copper Price Sensitivity The Project base case uses a long term copper price assumption of US$ 1.75/lb. Holding all other costs and prices constant, varying copper prices provides the following table. These results highlight the strong economics of the Project at various copper prices up to US$ 3.00/lb, a level which is significantly less than current spot market price for copper.
In general, the FS indicates that the Project is more sensitive to copper revenue and less sensitive to capital cost, gold price or operating cost fluctuations. The cost estimates and financial analyses set out above are subject to important qualifications, assumptions and exclusions, all of which are set out in the FS. In order to fully understand these figures, the NI 43-101 Technical Report referred to below should be read in its entirety. The FS study was completed by a team of in-house staff and external engineering consultants, including SNC-Lavalin Chile S.A., Merit Consultants International Inc., Hoffert Processing Solutions Inc. and Knight Piésold Ltd. The full NI 43-101 Technical Report will be available on SEDAR within 45 days of this announcement. The Qualified Person for the above disclosure is John Hoffert, P. Eng. Current Activity at Mirador Work at the site is currently focused on the continuation of activities related to the Environmental Impact Assessment Amendment ("EIAA"). A work force of approximately 50 people is currently upgrading infrastructure at the Project for the required EIAA activities. Work is continuing on new home construction in the nearby village of Tundayme as part of the program of relocating several local residents away from the area of proposed mining activity at Mirador. Studies on local hydropower options are being carried out as part of a long-term development plan for energy needs at Mirador. A new office has been opened in the canton capital of El Pangui,, which will serve as the regional headquarters for work on the Mirador Project. Next Steps at Mirador Over the next three months, the work force at Mirador is expected to double as work starts on technical studies which are part of the EIAA program. In addition the company is working with the Government of Ecuador to define the terms of an Investment Contract. The Government has indicated a timeline for this process that would see completion in mid-2008. According to Mr. José Serrano, the Sub-Secretary of the Ministry of Mines and Petroleum, "The Ministry is in dialogue with the company's Ecuador subsidiary, Ecuacorriente S.A., about designing agreements that permit a development at Mirador that entail benefits for all sectors involved." Panantza - San Carlos Project Corriente is in the process of securing a partner for the company's US$ 1.3 Billion Panantza - San Carlos project approximately 40 km to the north of Mirador, as announced by the company on January 31, 2008. At US$ 1.75/lb copper, this project has an after-tax Net Present Value of US$ 1.2 Billion at an 8% discount rate, and an after-tax Internal Rate of Return of 19.7%. Corriente has executed Confidentiality Agreements with multiple parties who are engaged in preliminary project data review. Following completion of the data review, the company plans to move to an in-country due diligence process. During this phase of due diligence, Corriente will work with CORPEI, which is the Ecuadorian Corporation for Exports and Investments Promotion. According to CORPEI President, Mr. Ricardo Estrada, "CORPEI considers the Panantza - San Carlos project an unprecedented opportunity for Ecuador to gain investors competitive with those of other large mining countries in Latin America. The Government is aspiring to initiate responsible mining and a new era of development based on mineral resources and for these reasons, CORPEI is prepared to work together with the company to advance this project." ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release announcing the updated Feasibility Study for Mirador constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include among other things, statements regarding projected production rates and capital costs, estimates regarding copper prices, mineral resources and anticipated grades and internal rates of return. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including risks related to the exploration stage of the company's projects; market fluctuations in prices for securities of exploration-stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in copper prices; the possibility that Corriente may change its plans with respect to one or more properties; and other risks and uncertainties described in the company's Annual Information Form for the year ended December 31, 2007, and registration statement on Form 40-F filed with Canadian securities regulators and the U.S. Securities and Exchange Commission, respectively. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. January 31, 2008 CORRIENTE INITIATES PANANTZA-SAN CARLOS PARTNERSHIP PROCESS
VANCOUVER, CANADA, January 31, 2008 – Corriente announces that it has started the process of contacting interested parties to become strategic partners in the development of the Panantza – San Carlos Project in southeast Ecuador, as previously announced in a press release on November 19, 2007. To assist in this process, Corriente has engaged the advisory services of Citi and Canaccord Adams to secure a majority partner for the Panantza – San Carlos Project. Corriente CEO Ken Shannon commented, "Panantza – San Carlos is one of the few available large-scale copper projects in the world. With estimated capital costs in the order of US$1.3 billion, this project is better suited for advancement by a large company having the financial and technical resources required to fast-track its development to production." Bringing on a majority partner for Panantza – San Carlos will allow Corriente to maintain its focus on the Mirador Project, which is located approximately 40 km to the south. An updated feasibility study for Mirador is expected to be released during the first quarter of 2008 and will outline the project development plans of Corriente. As a key milestone in the development of a large scale responsible mining sector in Ecuador, the company is in negotiations with the Ministry of Mines and Petroleum on a development and investment framework for mining projects in Ecuador. Efforts to complete this framework are expected to continue over the next few months. Separate from the framework dialogue, discussions are progressing with the Ministry regarding the resumption of field activities at Mirador beyond the current EIAA work program. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. December 10, 2007 ECUADOR MINISTRY OF ENVIRONMENT APPROVES MACHALA PORT EIA. Port to ship all copper concentrate from planned Mirador mine
VANCOUVER, CANADA, December 10, 2007 – Corriente announces that the Ministry of Environment in Ecuador has approved the Environmental Impact Assessment ("EIA") of the planned port operation in Machala, which is designed to act as a shipping facility for all Corriente copper concentrates to be produced in Ecuador. Corriente owns a 27 hectare port site on the Santa Rosa Channel in Machala, which is connected to the Mirador project by a 400 km paved highway. Receipt of the EIA is an important part of the overall Mirador project approval process and provides the key access for a Pacific shipping route for copper concentrates. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. December 5, 2007 CORRIENTE'S RESPONSIBLE MINING ACTIVITIES SUPPORTED BY MAJOR ECUADORIAN INDIGENOUS ASSOCIATION
VANCOUVER, CANADA, December 5, 2007 – CONFENIAE, an association representing approximately 220,000 people from all 16 indigenous nationalities of the Ecuadorian Amazon, held a Special Assembly on Thursday, November 29th in Puyo, Ecuador. During the Special Assembly, the CONFENIAE leadership overwhelmingly voted in favor of a resolution supporting the responsible mining activities of EcuaCorriente S.A. (Corriente) in the Zamora Chinchipe and Morona Santiago Provinces of Ecuador, as part of their goal to eradicate indigenous poverty in the region. CONFENIAE has immediately requested the recognition of their resolution by CODENPE (Council for the Development of Ecuadorian Nationalities and Peoples). In addition, CONFENIAE leader, José Aviles, who was elected in 2005, had his leadership unanimously upheld through a special vote during the Special Assembly, confirming full support from the leaders and communities represented through CONFENIAE. José Aviles commented, "We, the indigenous people of the Ecuadorian Amazon, have overwhelmingly voted against poverty and voted for life with hope by implementing a new economic model for our people. The indigenous peoples of the Ecuadorian Amazon deserve a life with dignity and we will move forward in accessing our natural resources in partnership with responsible Canadian mining companies like EcuaCorriente." In October 2007, José Aviles, along with Shuar Federation of Zamora Chinchipe President, Rubén Naichap (representing over 5,000 people from 55 Shuar communities in the project area), traveled to Canada to meet with Canadian aboriginal leaders. Dialogue was focused on the positive social and economic benefits that Canadian aboriginal associations enjoy through working co-operatively with responsible mining and industry in their regions. During the trip, the leaders met with Dale LeClair, National President of the Métis National Council, representing the National and International voice of over 1 million aboriginal people in Canada. As a result of this meeting, Mr. LeClair accepted an invitation by CONFENIAE to attend and speak at the CONFENIAE Special Assembly. Mr. LeClair spoke about the need to eradicate poverty, the issues of deforestation and the price of poverty and its impact on indigenous people. He also shared real life experiences about how the Métis are solving poverty through meaningful partnerships with responsible resource extraction companies. Following his speech, Mr. LeClair received a standing ovation followed by a formal signing ceremony of an International Co-operation Agreement with Shuar Federation President, Rubén Naichap, officially beginning the relationship between the Shuar people of the Zamora Chinchipe Province of Ecuador and the Métis National Council of Canada. Mr. LeClair stated, "I am very pleased to have seen first hand the Mirador project area and to have had the opportunity to meet local leaders who are very supportive of the project. The Métis National Council is very pleased to have signed an International Cooperation agreement with the Shuar Federation of Zamora Chinchipe, which will allow our organizations to work more closely together for the common benefit of our peoples." "The Shuar Federation of Zamora Chinchipe and our communities have learned about the benefits of responsible mining through the sharing of experiences from our Indigenous counterparts in Canada. We also see clearly the benefits that mining has contributed to First Nations and Aboriginal peoples of Canada and deeply appreciate the investment being made by the shareholders of EcuaCorriente in creating opportunities and a better quality of life for our people," announced Rubén Naichap, President of the Shuar Federation of Zamora Chinchipe. Corriente also announces that Tom Milner will be retiring from the position of President of Corriente at the end of this year. Tom will continue his involvement with Corriente as a Mining Technical Advisor. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. November 19, 2007 PRELIMINARY ASSESSMENT FOR PANANTZA-SAN CARLOS COPPER PROJECT DEMONSTRATES POSITIVE ECONOMICS AND MAJOR COPPER INVESTMENT POTENTIAL IN ECUADOR
Project to produce over 400 Million pounds of copper annually. VANCOUVER, CANADA, November 19, 2007 – Corriente announces that a positive preliminary assessment ("PA") has been completed for the company's 100% owned Panantza–San Carlos Copper Project ("the Project"), situated approximately 40 kms north of Corriente's 100% owned Mirador copper project in southeastern Ecuador. The PA projects over 400 Million pounds of annual copper production for the Project and shows a projected capital cost of approximately US$ 1.3 Billion, which would be spent over a two year construction period prior to the start of production. The company plans to move the Project to the Feasibility Study stage with a planned budget of approximately US$ 12 Million in field and engineering work over the next two years. Mr. Ken Shannon, CEO of Corriente stated, "The Company is pleased with the positive economics of this new copper Project and with the favourable culmination of our efforts to respond to the demands of several segments of Ecuadorian society looking to attract responsible investment to the country. The development of major mineral resources will be for the benefit of the communities of the Morona-Santiago and Zamora-Chinchipe provinces as well as the entire country. Corriente will work with the communities and the Government to ensure social, environmental and economic sustainability. Under these key conditions implemented by the current administration of President Raphael Correa, we feel Ecuador is ready to start its mining future." Highlights
Resource Total estimated inferred resources at Panantza and San Carlos are as follows:
Mining Ore and waste quantities were generated from 3-D models of both deposits. The potential resource at San Carlos was restricted by tailings capacity. With an expanded tailings design, the portion of San Carlos resources that could be available for mining would significantly increase. Mining of 189,000 tonnes per day of ore and waste would commence with the Panantza deposit and move to San Carlos at year 10. The current mine plan calls for co-disposal of waste rock in either the tailings storage facility or the mined out Panantza pit, depending on the phase of mining. The strip ratio for Life of Mine is 1.1(waste):1(ore). Processing The process plant is a conventional concentrator that would process 90,000 tonnes per day of copper ore containing 0.62% Cu, 0.008% Mo, 1.3 g/t Ag and 0.05 g/t Au over the life of the mine. The copper concentrate produced is expected to average 29.5% Cu and a separate molybdenum concentrate is expected to average 49% Mo. The concentrate would be transported via a 473 km pipeline to a port on the coast for shipping to smelters. Infrastructure The existing Amazon highway system comes within six kilometres of the Project site and local gravel roads would have to be upgraded to improve mine access. The conceptual design of the PA calls for a 111 km, 230 kV transmission line to be constructed to connect directly to the main electrical grid at Sinincay. Socio-Economic The principal needs of the local population are employment and infrastructure development. Extensive migration of residents within Ecuador and abroad has occurred because of the poor local job market. The company has started a program of dialogue with the local communities and government to ensure any development at Panantza and San Carlos is sensitive to their needs and fits with the requirement that projects are environmentally responsible. Construction The estimated cost to build the 90,000 tonne per day plant and associated infrastructure is US$ 1.3 Billion, with an accuracy estimated to range from -5% to +35%. Labour is estimated at 4,500,000 man-hours of direct construction work and mine pre-development. The execution period for the Project would be 41 months total, with a construction period of approximately 24 months. Copper Price Sensitivity The Project was based on a copper price assumption of US$ 1.50/lb; holding all other prices constant and varying copper prices provides the following table, which highlights the strong economics of the Project at current copper prices which exceed US$ 3.00/lb.
In general, the PA indicates that the Project is more sensitive to copper price and copper recovery than to capital and operating cost fluctuations. The PA study was completed by a team of in-house staff and external engineering consultants, including Merit Consultants International Inc., Hoffert Processing Solutions Inc. and Knight Piésold Ltd. The full NI 43-101 Technical Report will be available on SEDAR within 45 days of this announcement. Recommendations The Project is recommended to proceed to the Feasibility Study stage, which has an estimated budget requirement of approximately US$ 12 Million. The work would include detailed diamond drilling at both deposits to fully delineate mineralization and provide core for metallurgical and geotechnical studies. This work is planned to extend over a two year period. In addition, a program of extensive community dialogue is planned to ensure that the voice of local residents is reflected in any planned development ideas. Part of this dialogue will include several public consultations, which will form part of the on-going permitting process. Fieldwork is not expected to start until the completion of negotiations with the Ecuador government regarding the lifting of a suspension order that applies to the company's Mirador, Panantza and San Carlos concessions. Given the world-class size of the proposed Panantza-San Carlos development, Corriente intends to seek an investment partner who would work to advance Panantza–San Carlos as part of a cluster of projects in southeast Ecuador that are envisioned to form a Mining Center of Excellence. In parallel with the advancement of a jointly developed Panantza-San Carlos Project, Corriente will move forward its 100% owned Mirador project as planned. The principles for development of these projects will be investment in the earth, following the practices of modern responsible mining. Responsible mining will provide a balance between protection for the environment, which is crucial to the people of Ecuador, and jobs and infrastructure development, which are also critically important for this region. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. November 14, 2007 MINISTRY OF MINES AND PETROLEUM CONFIRMS THAT CORRIENTE'S MINING CLAIMS ARE IN GOOD STANDING
VANCOUVER, CANADA, November 14, 2007 – Recent radio and television interviews with Ecuador's President Rafael Correa have quoted the President stating that the Government will look to take back concessions that are not in the exploitation phase or have not had investments into exploration or development. Corriente wishes to announce that the Ecuadorian Ministry of Mines and Petroleum has confirmed that Corriente's mining concessions are in good standing and do not fall under the Presidents definition of non-productive concessions. Corriente is underway with work on its Environmental Impact Assessment Amendment, as announced on October 29th, 2007, and is currently in constructive and constant conversations with the Ministry and communities towards the re-start of activities at the company's Mirador copper project. These dialogues are focused on environmental protection, sustainable development, as well as State and community participation. To date, Corriente has invested more than $US 50 Million into the discovery and development of its copper projects in Ecuador, including investments in social programs, education, health care and technical training within communities in the project areas. As part of its long term vision, Corriente is also working with Ecuadorian universities to stimulate research and development of projects and technologies that emphasize best practices in the development of mining to ensure environmental responsibility and long term economic sustainability that improves the quality of life for communities in the country. Corriente has signed agreements with the Escuela Politécnica Nacional and the Universidad de Guayaquil and is in the process of formalizing agreements with several additional institutions. Research and training currently underway are focused on degrees specializing in the area of hydro-electric and renewable energy. Corriente will also initiate research and development programs in the areas of bio-combustibles, bio-diversity preservation and creation, agriculture, environmental education and geo-tourism, among others. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. October 29, 2007 CORRIENTE RESUMES WORK ON MIRADOR ENVIRONMENTAL IMPACT ASSESSMENT AMENDMENT
Based on discussions with the Ecuador Ministry of Mines and Petroleum, Corriente has given notification of the resumption of activities related to the development of an Environmental Impact Assessment Amendment (EIAA), covering the complete Mirador concession area, starting November 2007. The EIAA is an amendment to the previously-approved Environmental Impact Assessment for the Mirador concession area that will incorporate engineering enhancements completed on the Mirador project. "The resumption of these activities is the result of multiple open and transparent conversations that have been taking place over the past few months with the Ministry that are leading to formal bilateral negotiations", commented Corriente CEO, Ken Shannon. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449, e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. June 20, 2007 PANANTZA COPPER RESOURCES CONTINUE TO GROW
Scoping Study For A Combined Panantza-San Carlos Project Advances VANCOUVER, CANADA, June 20, 2007 – Corriente announces that an updated resource estimation has been completed for the company's Panantza project in the Corriente Copper Belt in southeast Ecuador, which utilizes results from the most recent drilling program. Using a 0.4% copper cut-off, the inferred copper resources at Panantza are now estimated at 463 million tonnes, containing approximately 6.7 billion pounds of copper at a grade of 0.66% copper. This estimate represents an increase of almost a billion pounds of contained copper in comparison to the company's most recent disclosure for Panantza (please see current district copper totals in the table at the end of this release). This increase is a result of additional mineralization that was discovered along the south margin of the Panantza deposit during the course of drilling. The next phase of drilling planned for Panantza is in the order of 24 holes, totaling over 7500 metres of coring. This drilling program will attempt to delineate the full extent of the Panantza copper mineralization that is still open to the south, north and at depth. The Qualified Person for this disclosure is John Drobe (P.Geo) of Corriente and the 43-101 Technical Report that details this work will be posted to SEDAR and the company's website within 45 days. The company is also well advanced on a Preliminary Assessment ("Scoping Study") for a combined Panantza and San Carlos project, given their close proximity (4 km apart) to each other. Corriente has engaged a team of engineering consultants, including Merit Consultants International Inc., Hoffert Processing Solutions Inc. and Knight Piésold Ltd. to complete this scoping work. The Scoping Study will consider a large central milling facility having a capacity of up to 90,000 tonnes per day and a project life of twenty years. An operation of this size and project length is estimated to process a combined copper resource from the Panantza and San Carlos deposits in excess of 600 Million tonnes, from an estimated total copper resource for these two deposits that is in excess of 1.1 billion inferred tonnes at a grade of 0.63% Cu. The milling process is forecast to produce an average of over 400,000,000 pounds of copper per year. This Scoping Study is planned to be completed later this summer and will be released as soon as it is available. Management recognizes that the size of the combined Panantza – San Carlos project is better suited to the capabilities of a large integrated copper mining company in partnership with Corriente. Consequently, discussions have begun with several parties who are interested in a mining operation of large scale, which will enable the company to stay focused on development of the Mirador project as a priority. Corriente CEO, Ken Shannon commented, "Advancing two large mining projects in one district presents a unique opportunity to significantly improve the economic stability of the region and would provide thousands of high-paying jobs as an alternative to their current subsistence economy. We remain committed to working with local communities, indigenous supporters and the government to continue to develop responsible mining in Ecuador and look forward to the resumption of our activities following a lifting of the suspension of field work at Mirador."
* does not include copper oxide mineralized material that was previously included in resource estimate ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com . P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Disclosure statements as required by National Instrument 43-101 are available at our website. Click here. Readers are advised that the information posted is accurate at the time of posting but may be superseded by subsequent disclosures. June 8, 2007 GOLD ASSET SPIN-OFF TO BE EFFECTIVE JUNE 18, 2007
VANCOUVER, BRITISH COLUMBIA, June 8, 2007 – Corriente announces that the spin-off of Q2 Gold Resources Inc. ("Q2 Gold") approved by shareholders at the company's May 24, 2007 Annual and Special General Meeting is expected to close on June 18, 2007. In the arrangement transaction (the "Arrangement"), Corriente will transfer its Caya 36 and Piedra Liza gold concessions to Q2 Gold in exchange for shares of that company, and then distribute those shares to Corriente's shareholders. The Arrangement has now been approved by the British Columbia Supreme Court. Under the Arrangement, Corriente shareholders will receive one (1) new Corriente common share and one-third of one (1/3) Q2 Gold share for every Corriente share held at the close of business on June 15, 2007. Registered shareholders (i.e., those who personally hold a Corriente share certificate in their name) are reminded to send their Corriente share certificates and completed Letter of Transmittal to the depositary, Computershare Investor Services Inc., in order to receive their new Corriente shares and Q2 Gold shares. Shareholders who have their Corriente shares held with a financial services or brokerage firm will find that their account representative's back office will automatically look after this exchange procedure. ABOUT CORRIENTE "Dan Carriere" Daniel A. Carriere For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com . P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. May 29, 2007 ENVIRONMENTAL IMPACT ASSESSMENT UPDATE FOR MIRADOR
VANCOUVER, BRITISH COLUMBIA, May 29, 2007 – As part of the ongoing permitting process in Ecuador, Corriente has been advised by the Ministry of Mines that proposed amendments to the company's previously approved Environmental Impact Assessment ("EIA") at Mirador will require further study. Corriente had requested the amendments as part of the continuing process of engineering initiatives designed to enhance the Mirador project. Corriente has requested a technical report from the government outlining the areas of concern and will respond to the report in due course. During this ongoing review process, the company continues to operate under the terms of its existing Environmental Impact Assessment that was granted in May 2006. Corriente is aware of several news reports from yesterday suggesting that the Company will have to start the EIA process from the beginning, but the last official communication from the Ministry of Mines in mid-May states that the additional work to be requested by the government refers to the amendments and not the original EIA permit. Any material updates will be announced as they are available. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. May 7, 2007 PLAN OF ARRANGEMENT FOR GOLD ASSET SPIN-OFF SENT TO SHAREHOLDERS
VANCOUVER, BRITISH COLUMBIA, May 7, 2007 – Corriente announces that the name of the previously announced gold spin-off company is Q2 Gold Resources Inc. ("Q2 Gold"). Corriente will place an arrangement transaction (the "Arrangement") before its shareholders for approval, in which Corriente will transfer its Caya 36 and Piedra Liza gold concessions to Q2 Gold in exchange for shares of that company, and then distribute those shares to Corriente's shareholders. Under the Arrangement, Corriente shareholders will receive one Q2 Gold share for every three shares of Corriente held by them as of the effective date of the transaction, which is expected to be on or about June 15, 2007. As previously announced, Q2 Gold intends to take the next several months to carry out a planned exploration program on the gold targets and to assess possible plans to maximize shareholder value, including mergers, joint ventures, or an initial public offering of Q2 Gold shares. In the meantime, in order to assist Q2 Gold with its business objectives, Corriente has agreed to lend Q2 Gold up to $750,000 under a secured, interest-bearing convertible loan agreement. If the full amount of the loan were advanced and subsequently converted, Corriente would hold 7,500,000 shares, representing approximately 23% of the issued and outstanding shares of Q2 Gold immediately following the Arrangement. The Arrangement will be voted on by shareholders at Corriente's annual and special general meeting on May 24, 2007. The information circular for that meeting has been mailed to shareholders and filed under the company's name on SEDAR and EDGAR. While the information circular indicates that the shares of Q2 Gold will not be transferable without the consent of its board until such time as Q2 completes an initial public offering or lists its shares on a Canadian stock exchange, Corriente has since decided to amend Q2 Gold's articles to delete those restrictions. However, since no application will be made at this time to list Q2 Gold's shares on any exchange, holders of Q2 Gold shares may not be able to sell them. A copy of the independent valuation of the Caya 36 and Piedra Liza gold concessions prepared for Corriente's board will be made available on its website at www.corriente.com. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 25, 2007 COMMUNITIES PUSH FEDERAL GOVERNMENT TO LIFT SUSPENSION AT MIRADOR
VANCOUVER, BRITISH COLUMBIA, April 25, 2007 – In addition to the company's current and planned discussions with the federal government, local communities are continuing to lobby the government of Ecuador through the offices of the Ministry of Mines to lift the suspension of development activities at the Mirador Project site in southern Ecuador. Corriente has obtained copies of letters from a variety of groups including the Shuar Federation of Zamora-Chinchipe, Tundayme Parish Board, El Pangui County Consortium of Parish Boards and nine Shuar communities in Canton Gualaquiza and Bomboiza. These groups represent a broad and representative cross-section of the local stakeholders that will be impacted by the development of the Mirador copper-gold project. The determination of the communities to have their voice heard is reflected in some of the comments directed towards the government of Ecuador. These comments include those from the Pangui Parish which said, "We respectfully request that the work suspension of EcuaCorriente be lifted immediately….As residents of this forgotten corner in our native country, we are the true witnesses of the importance of Ecuacorriente's contribution to the development of our communities." Another voice was heard in the Shuar community letter from the Bomboiza and Gualaquiza Cantons which said, "We, the undersigned, respectfully request that the work suspension of EcuaCorriente be lifted with immediate effect. Due to the work suspension, a conflict between neighbors has arisen. We feel that it has been provoked on the basis of bad intentions and erroneous information from ecological and religious groups, identified as activists against mining…". Finally, a comment from the Shuar Federation of Zamora Chinchipe calls for "….the immediate resumption of the technical and social activities that the company EcuaCorriente has been performing in the Pangui and Tundayme Parishes. Our request is based on our right for self-determination, which is guaranteed in the constitution, in order to decide our future…". Ken Shannon, CEO of Corriente commented, "Corriente has always been committed to full environmental responsibility to our local communities who are counting on us for jobs and other benefits, such as significantly improved housing, medical services and education. We see a bright future for the people of our communities and those in other regions in the country from responsible and co-operative modern mining activities. We are very encouraged to see them standing solidly with us in our combined efforts." Corriente is supportive in helping the voice of these local communities be heard by all parties concerned as part of an extensive civil dialogue that is vitally important to the future of all Mirador stakeholders. We believe that the will of the people, as voiced by these letters, will lead to a decision by the government to allow activities to resume and we look forward to joining with our communities for a responsible mining future at Mirador. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. April 3, 2007 CORRIENTE GOLD ASSET SPIN-OFF APPROVED BY BOARD
VANCOUVER, BRITISH COLUMBIA, April 3, 2007 – The Board of Directors of Corriente Resources Inc. has approved the spin-off of certain gold assets into a new company, by means of a Plan of Arrangement. These assets are not core to Corriente's plans for the development of copper deposits within the Corriente Copper Belt. Under the arrangement, which is subject to shareholder and regulatory approval, Corriente shareholders will receive shares of a new private company ("Newco") holding the gold assets, on the basis of 1 Newco share for every 3 common shares of Corriente held by them, as of the effective date of the transaction (expected to be on or about June 15, 2007). Full details of the proposed transaction will be included in the Information Circular to be sent to shareholders in connection with Corriente's May 24, 2007 Annual General Meeting. The gold assets include the Tundayme prospect, which is immediately adjacent to Corriente's Mirador copper deposit land holdings and approximately 15 km from Aurelian Resources Inc.'s newly discovered Fruta del Norte gold zone. The Tundayme prospect has approximately 8 km of north-south trending structures that extend along strike to the Mirador project. This 8 km trend is oriented in the same direction as the Fruta del Norte mineralized trend and parts have had preliminary prospecting and soil sampling done by Corriente. Further work is required to follow-up anomalous gold soil and rock samples from that initial work. Also included is a second set of concessions approximately 50 km southwest of Mirador called the Piedra Liza prospect. Within the Piedra Liza prospect, four clusters of anomalous gold soil samples occur over a six km trend that is on-strike and north of the Nambija area, which has produced over three million ounces of gold by local estimates. Follow-up ground work has identified altered rock samples with maximum gold values at 1 - 4 g/t. The Qualified Person for this disclosure is John Drobe, P.Geo, Chief Geologist. A planned exploration program on the gold targets, consisting of geological mapping, rock chip sampling and trenching, is expected for later this year. During this period, management will be reviewing possible plans to maximize shareholder value including mergers, joint ventures or an initial public offering of Newco shares. Separately, Corriente continues to work with our local community and indigenous supporters in Ecuador regarding the advancement of our Mirador Project. Our support has been focused on making the Mirador Project an important component of the plans to eradicate poverty in our project area. Corriente will update shareholders as discussions with the government continue to move forward regarding project development, which is currently suspended at the request of Ecuador's government to allow for dialogue between stakeholders. ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. January 25, 2007 MIRADOR PROJECT TIMELINE EXTENDED
VANCOUVER, BRITISH COLUMBIA, January 25, 2007 - The Company's accelerated Mirador project development plan was based on having key permits and government agreements completed by this time (e.g., the Investment Contract). Since the required agreements are still being processed and we are still under a suspension order by the Ministry of Mines, the Board of Directors has elected to minimize its current project obligations with suppliers of key long lead-time components to the Mirador project. The Company is well supplied with capital in excess of $CDN 120 Million in equity funds. Based on current information, it is estimated that the start of production at Mirador will be delayed from late 2008 as planned to mid-2009, largely due to adjustments to long lead-time equipment deliveries as a result of this decision. Corriente has been in constructive discussions with the incoming administration of Ecuador's President Raphael Correa regarding the resumption of fieldwork at the Mirador project site (see the company's News Release dated December 8, 2006). While the Government has indicated support for such resumption, it has yet to provide clear and sufficient indications of when this will be achieved. Corriente will continue to meet with the Correa Administration over the near term so that the goal of re-starting fieldwork can be achieved as soon as possible. Over the next few months, we expect to firm up a revised project construction timeline and re-schedule equipment deliveries. In addition, we will continue work on optimization of the Mirador project in such areas as waste rock dump design, hydrology and environmental studies as well as other areas of potential capital cost savings that have been identified in an independent review of the project. Ken Shannon, CEO, stated "We remain committed to our stakeholders at the Mirador project and the nearby communities in Zamora Chinchipe and Morona Santiago Provinces, especially the villages of Tundayme, Valle de Quimi and the Shuar People of Zamora, with whom we have worked over the last six years to improve their medical care, housing, education and employment. Ultimately, it is our belief that the will of the local communities to provide a better future for their children will be a deciding factor to proceed with the development of responsible, long-term mining activities at Mirador". ABOUT CORRIENTE "Ken Shannon" Kenneth R. Shannon For further information please contact Mr. Dan Carriere, Senior Vice-President at (604) 687-0449 , e-mail: dcarriere@corriente.com Certain statements contained in this News Release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company's plans to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the company's continuous disclosure filings as found at www.sedar.com. P.S. We encourage you to add your name to our e-mail alert list for speedy access to our News Releases. E-mail us at copper@corriente.com CORRIENTE RESOURCES INC. Readers are advised that the information posted is accurate at the time of posting but may be superseded by subsequent disclosures. |
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