Candelaria Mining Announces Results of 33-Hole, 4,700-Metre Diamond Drill Program at Pinos Gold Project

VANCOUVER, BRITISH COLUMBIA–(Oct. 31, 2016) – Candelaria Mining Corp. (the “Company“) (TSX VENTURE:CXX) is pleased to announce the results of its recently completed diamond-drilling program at its Pinos Gold Project in southeastern Zacatecas state, Mexico.

Drill intersections include 1.95 m grading 5.88 g/t gold equivalent (Au eq), including 0.80 m grading 14.75 g/t Au eq.; 6.40 m @ 1.90 Au eq., including 0.75 m @ 5.25 g/t Au eq; 2.58 m grading 6.77 g/t Au eq., including 1.50 m @ 9.02 g/t Au eq.; 6.90 m grading 2.64 g/t Au eq., including 0.50 m @ 5.43 g/t Au eq.; and 4.25 m grading 4.42 g/t Au eq, including 2.45 m @ 6.67 g/t Au eq.

The recently completed drilling campaign began in May 2016 and was carried out on one of the principal vein structures in the district, the Cinco Estrellas vein, over a strike length of 2.2 km. Drilling tested down-dip extensions of known vein mineralization, below existing workings, as well as the possibility of previously unknown veins parallel to the principal vein.

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