CENTURY
MINING CLOSES FLOW-THROUGH SHARE FINANCINGS
Blaine, WA: January 10, 2008 - Century Mining
Corporation (CMM: TSX-V) �announces today that, subject to regulatory
approval, it has closed a non-brokered private placement of 5.6 million
flow-through shares at a subscription price of C$0.50 per flow-through share
for gross proceeds of C$2.8 million.� This financing was previously announced
on November 21, 2007.� Century paid a finder’s fee of 6% cash and broker
warrants equal to 4% of the number of flow-through shares purchased by
investors introduced to the Company.� All of the securities issued under this
private placement are subject to a four-month hold period.� The proceeds of
this flow-through share financing will be used for exploration at the Company’s
Lamaque properties in Qu�bec.
Century also announces that, subject to regulatory approval, it
has closed a non-brokered private placement of 3,154,715 flow-through shares at
a subscription price of C$0.35 per flow-through share for gross proceeds of C$1,104,150.
�This financing was previously announced on December 24, 2007.� For introducing
certain investors to the Company, Century paid a 6% cash finder’s fee.�
All of the securities issued under this private placement are subject to a
four-month hold period.� The proceeds of this flow-through share financing will
be used for exploration on and near the Company’s Lamaque properties in
Qu�bec.
About Century Mining Corporation
Century Mining Corporation is an emerging mid-tier gold producer
that is aggressively acquiring producing mines and exploration properties in Canada
and Peru. The Company owns and produces gold at the Lamaque mine in Qu�bec
which historically has produced over 9.4 million ounces of gold. In Peru,
Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine
where the Company accounts for 100% of gold production.� Century subsidiaries
also own Rosario de Belen 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 November 28, 2007
Century issued a take-over bid for Sulliden Exploration Inc. at an exchange
ratio of 0.72 Century shares for each Sulliden share.
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.