CENTURY MINING RECEIVES LAMAQUE UNDERGROUND PERMIT
Company announces mining
operations to begin immediately
BLAINE, WA (CCNMatthews – April 19, 2007) Century Mining Corporation
(TSX VENTURE: CMM - News) (announced that it has
received an updated Certificate of Authorization from the Quebec Ministry of
Environment for the Lamaque underground project, and will begin mining
operations immediately. The Company has also satisfied the requirements of the
Quebec CSST (Quebec Health and Safety Regulatory Authority).
With the receipt of this permit, the Company will
begin mining and transporting up to 400 tonnes of ore per day to the Sigma
mill. Furthermore, the permit allows the construction of a haulage drift from
the Lamaque underground into the Sigma pit at approximately 250 feet from the
surface. This will facilitate efficient transport of ore from the upper levels
of the Lamaque mine and allow the ore to be stockpiled in the Sigma pit where
it will be picked up by larger trucks and hauled to the mill.
As previously announced, the Company has hired a crew
of miners, geologists, and engineers for the Lamaque underground program and
has procured necessary equipment and materials to begin the program.
Since late 2006, Century has drilled, sampled and
defined underground resources and ore blocks, including an extensive sampling
program of the available structures. As a result, an initial 11,000 tonnes of
ore grading over 15 g/t has been identified, sampled and blocked out for mining
at the Lamaque underground. These ore blocks, which are expected to contain
over 7,500 ounces of gold, will be the initial targets for extraction.
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Rehabilitation work associated with the main accesses
and secondary means of egress have been completed and ground conditions
encountered continue to be very favorable. The gold-bearing veins encountered
to date underground are narrow vein flat laying structures, typically ranging
in width from several inches to 2-3 feet, with significant assayed gold values
returned from many samples and the presence of visible free gold occurring in a
number of veins.
The Sigma-Lamaque underground has NI 43-101 compliant
resources as follows: Measured 772,000 tonnes at a grade of 5.4 g/t Au,
Indicated 3,151,000 tonnes at a grade of 4.91 g/t Au for a total contained
630,000 ounces of gold in Measured and Indicated. In addition a further
10,101,000 tonnes is carried in the inferred category at a grade of 5.21 g/t Au
containing 1.7 million ounces of gold. (Ref. CAM
report, Sigma Lamaque Complex, November 29, 2005 which is available on www.sedar.com).
Century’s results herein described have been
prepared under the guidance of Mr. Ross F. Burns, P.Geo., LG, Vice President of
Exploration, who is designated as a Qualified Person with the ability and
authority to verify the authenticity and validity of the data.
Margaret Kent, President & CEO, commented:
"We are very excited to be able to begin mining underground at Lamaque.
This project represents another step forward in Century’s strategy to
establish itself as a formidable mid-tier gold producer. To this point in
Century’s development, the Sigma Lamaque Complex has been instrumental,
providing six consecutive quarters of positive cash flow and contributing to an
annual net profit for the Company in 2006. With the opening of the Lamaque
underground, we look forward to even more positive operational and financial
results, through which we may continue to grow the Company.”
Conference call
Management will host a conference call on Friday,
April 20 at 11:00 a.m. Pacific time (2:00 p.m. Eastern time) to discuss 2006
results and future developments at its operations in Qu�bec and Peru.
Mining analysts, investors and the media are invited to phone 1-888-809-8974,
or 1-210-234-0008 if outside Canada
and the U.S.A.,
followed by the pass code 18290 approximately 5 minutes before the start of
management’s presentation. The presentation will be followed by a
question and answer period.
A replay of the conference call can be heard through
Friday, April 27 by dialing 1-888-562-2923, or from outside North
America 1-203-369-3750.
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Best regards,
Sara Swisher
sswisher@centurymining.com
Century Mining Corporation
Phone: (360) 332-4653
441 Peace Portal Drive
Blaine, WA 98230
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 Sigma and Lamaque mines in Qu�bec
that historically have produced over 9.4 million ounces of gold. In Peru, Century
owns an 82.6% interest in the San Juan Mine where the Company accounts for 100%
of gold 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.
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.
Century Mining Coroporation: 441
Peace Portal Drive / Blaine,
WA 98230
/ Phone: (360) 332-4653
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