SULLIDEN
CONTINUES TO CREATE UNNECESSARY DELAYS IN THE LEGAL PROCEEDINGS IN PERU
�
Court in Peru rejects for the second time a
motion by Sulliden to postpone the hearing on the nullity of the Sulliden
Shahuindo purchase and sale agreement.
�
The Court also warned Sulliden’s legal defense
that it would apply sanctions if Sulliden continues to submit unfounded motions
causing further delays in the proceedings.
Century Mining Corporation (“Century” – TSX-V:CMM
– July 10, 2007) today announced that for the second time in three
months the 64th Civil Court in Lima rejected a motion by Minera Sulliden
Shahuindo S.A.C. to suspend the legal proceedings on the nullity of the 2002
contract for the transfer of Shahuindo mining concessions to Sulliden then
owned by Compania Minera Algamarca S.A. and Exploraciones Algamarca S.A.
In a
resolution of the 64th Civil Court of Lima dated June 25, 2007, the Court
further warned Sulliden’s legal counsel that if it continues to make
unfounded petitions to the Court causing unnecessary delays in these
proceedings, the Court will apply legal sanctions against Sulliden and its
counsel.
Importantly,
this Court openly recognized that Sulliden has been causing unnecessary delays
by entering motions that have no reasonable legal basis; all in a manner
inconsistent with the obligations of honesty and good faith.
Peggy
Kent, President and CEO of Century Mining Corporation, commented, “It is
increasingly evident that Sulliden is merely causing delays in the legal
proceedings because it is concerned about the ultimate outcome. We remain
extremely confident that Century acquired the Shahuindo property from the
rightful owners and therefore we are eager to see an expeditious resolution of
these legal disputes. We look forward to applying our rich mining expertise in Peru to
developing the mining concessions at Shahuindo”
Regards,
Sara Swisher
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. The Company has also recently acquired 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.
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release.
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/ Phone: (360) 332-4653
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