CENTURY MINING APPOINTS
NEW CHIEF FINANCIAL OFFICER
Blaine, WA: February 19, 2008 - Century
Mining Corporation (CMM: TSX-V) announced the appointment of Richard
Meschke as Chief Financial Officer.� Mr. Meschke has had extensive experience
in the mining industry, including 19 years with AMAX Inc. and its successor,
Cyprus Amax Minerals Company, where he held executive positions in finance,
business development and operations with the Energy and Base & Precious
Metals groups.� Mr. Meschke’s accomplishments include the successful
negotiation of senior credit facilities, financial planning, reporting and
analysis, and completion of more than $500 million in acquisitions and divestitures.�
Mr. Meschke holds a B.A. degree in economics, an MBA and a law degree.� Mr.
Meschke was formerly Century’s Director of Acquisitions.
The Company also
announced that it has granted a total of 600,000 stock options, all of which were
granted to directors and officers of the Company.� The stock options are
exercisable into common shares of Century at an exercise price of C$0.28 per
share for a period of five years.� Century’s common shares closed at C$0.265
on the TSX Venture Exchange on February 18, 2008.� The options announced today
are part of an annual grant that make up a key component of directors’
and officers’ annual compensation.
Century Mining has 162,965,695
common shares issued and outstanding.� Under the terms of the Company’s
“rolling” Incentive Stock Option Plan, a maximum of 16,296,570
shares are available to be issued pursuant to the exercise of options at this
time.� Including this grant of 600,000 options, a total of 7,544,000 shares
have been reserved for issuance pursuant to outstanding option grants.� A
further 8,752,570 shares are available for issuance pursuant to future option
grants at this time.
About Century Mining Corporation
Century Mining Corporation is an emerging mid-tier gold producer
that is aggressively acquiring producing mines and exploration properties in
Peru. The Company owns and produces gold at the Lamaque mine in Qu�bec that
historically has produced over 9.4 million ounces of gold. In Peru,
Century’s wholly-owned subsidiaries own an 82.6% interest in the San Juan
Mine where the Company accounts for 100% of gold production.� Century’s
subsidiaries also operate the Rosario de Belen mine where it accounts for 100%
of both gold and silver production. Century’s growth strategy is to
acquire gold producing assets in South America that will substantially reduce
the Company’s consolidated total cash cost of production and where there
is exceptional exploration potential to expand production at these mines.
On
behalf of the Board of Directors,
“Margaret M. Kent”
Chairman, President & CEO
For further information, please contact:
Brent Jones, Manager of Investor Relations
E-mail: bjones@centurymining.com
Phone: (877) 284-6535 or (360) 332-4653
Fax: (360) 332-4652
Website: www.centurymining.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this press
release.
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the
meaning of applicable securities laws. We use words such as “may”,
“will”, “should”, “anticipate”,
“plan”, “expect”, “believe”,
“estimate” and similar terminology to identify forward-looking
information. It is based on assumptions, estimates, opinions and analysis made
by management in light of its experience, current conditions and its
expectations of future developments as well as other factors which it believes
to be reasonable and relevant. Forward-looking information involves known and
unknown risks, uncertainties and other factors that may cause our actual
results to differ materially from those expressed or implied in the
forward-looking statements and accordingly, readers should not place undue
reliance on those statements.� Risks and uncertainties that may cause actual results
to vary include but are not limited to the speculative nature of mineral
exploration and development, including the uncertainty of reserve and resource
estimates; operational and technical difficulties; the availability to the
Company of suitable financing alternatives; fluctuations in gold and other
resource prices; changes to and compliance with applicable laws and
regulations, including environmental laws and obtaining requisite permits;
political, economic and other risks arising from our South American activities;
fluctuations in foreign exchange rates; as well as other risks and
uncertainties which are more fully described in our annual and quarterly
Management’s Discussion and Analysis and in other filings made by us with
Canadian securities regulatory authorities and available at www..sedar.com.
While the Company believes
that the expectations expressed by such forward-looking statements and�
forward-looking information and the� assumptions, estimates, opinions and
analysis underlying such expectations are reasonable, there can be no assurance
that they will prove to be correct. In evaluating forward-looking statements
and information, readers should carefully consider the various factors which
could cause actual results or events to differ materially from those expressed
or implied in the forward-looking statements and forward-looking information.