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Century Mining Appoints New President & CEO
Century Mining Corporation
("Century" or the "Company") (TSX-V: CMM) is pleased
to announce the appointment of Mr. Daniel Major, B. Eng. (Honors) as the
Company's new President, Chief Executive Officer and Director, with his
appointment effective January 3, 2011.
"We are extremely fortunate to have a person of Daniel's calibre and experience to lead Century at this stage
of its development. His broad and diversified experience will benefit the
Company's current and future development of its extensive gold resources,"
said Keith Hulley, interim CEO of Century
Mining.
Mr. Major brings close to 25 years of extensive international mining
experience, including mine development planning, project development,
operations management, commercial negotiations, project and debt
financing, and mergers and acquisitions.
Mr. Major's recent roles included COO of Ecometals
Limited, overcoming political and legal issues in South America to
advance the company's exploration and development projects. Prior to that
Mr. Major was at Basic Element, a large and diversified Moscow-based
conglomerate that he joined in 2003. He was CEO of the resource division,
specifically responsible for development of the mining and other assets
in Russia. The division had an annual revenue turnover in excess of a
half a billion dollars, and was a producer of approximately 8% of global ferro molybdenum. This division had over 17,000
employees, and under his tenure the mines achieved two million manhours without a lost time accident.
Earlier in Mr. Major's career, he spent time as an investment banker and
senior mining analyst at financial institutions that included JP Morgan
and HSBC, where he was part of the No. 1 ranked Global Mining Team. He
holds a B.Eng. (Honors) from Camborne School of Mines in Cornwall,
England.
Concurrently with Mr. Major's appointment, Mr. Keith Hulley
will step down from the position of Interim CEO and also leave the Board
of Century Mining to enjoy his retirement.
"I would like to thank Keith for his hard work and dedication during
this transition period since August 2010. Keith's dedication to the
Company to ensure progress continues at the Lamaque
and San Juan gold mine operations has been invaluable and at 71 years of
age and over 45 years in the mining field, we wish him a well deserved
retirement," commented Ricardo Campoy,
Lead Director of Century.
Mr. Daniel Major, Century's new President and CEO, has been granted
3,000,000 stock options for a period of five years at the closing price
as at January 4, 2011. The Company has also granted stock options to
Officers, employees and consultants to purchase up to 995,000 shares
(445,000 shares at a price of $0.44 per share and 550,000 shares at a
price of $0.43 per share) for a period of five years, which includes
225,000 options priced at $0.43 per share to Officers.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds
strategic land positions in Canada, the United States and Peru. The
Company's strategy is to grow to an intermediate gold producer through
existing mine expansions and acquisitions of other strategic and
synergistic gold opportunities.
On behalf of Century Mining Corporation,
"Ricardo Campoy"
Lead Director
For further investor information, please contact:
Peter A. Ball, Vice President Investor Relations
E-mail: pball@centurymining.com
Phone: (360) 332-4653
Toll Free: (877) 284-6535
Website: www.centurymining.com
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Caution Concerning
Forward-Looking Information
This press release
contains forward looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
forward-looking information within the meaning of applicable Canadian
securities laws. We use words such as "may", "will",
"should", "anticipate", "plan",
"expect", "believe", "estimate" and similar
terminology to identify forward-looking statements and forward-looking
information. Such statements and information are 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 statements and information involve 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 information and accordingly, readers
should not place undue reliance on such statements and information. 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
commodity 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 included in
this Annual Report, in our Annual Information Form and in other filings
made by us with the Securities and Exchange Commission and 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.
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