CENTURY MINING FILES
FULL LAMAQUE TECHNICAL REPORT
Blaine, WA: February 26, 2008 - Century
Mining Corporation (CMM: TSX-V) announced that it has submitted for
filing on SEDAR the complete updated NI 43-101 compliant reserve and resource
report and technical study authored by Mr. Callum Mark, M.Sc., P.Geo. of
Clearwater Resources Ltd., designated as the Qualified Person for the Lamaque
underground mine located in Val d’Or, Quebec.
The updated NI 43-101
compliant reserves and resources for the Lamaque Underground mine show proven
and probable reserves of 1.13 million ounces of gold.� Additional measured and
indicated resources total 624,000 ounces, with inferred resources of 2.8
million ounces of gold. �The
updated report incorporates current mine plans and operating scenarios for the
ramp up of production at the Lamaque operation. �
Century has succeeded in increasing production from
the Lamaque underground mine from 5,137 tonnes of ore in October 2007 to 7,783
tonnes in January 2008.� Century also secured an updated Certificate of
Authorization from the Quebec Ministry of Environment for the Lamaque
underground mine, which will allow the Company to achieve consistent expansion
of mining operations at Lamaque during 2008.�
Margaret Kent, President & CEO, commented:
"We are very pleased to be able to publish the updated Lamaque Technical
Report in its entirety.� This report comes at a very exciting time in the gold
cycle, and provides the foundation not only for future mining operations and
exploration at Lamaque, but also for corporate activities including financing
that will facilitate further growth for Century.� The Company intends to secure
significant debt financing based in part on the mineral inventory outlined in
the Lamaque Technical Report, whereby Century would be able to meet its capital
needs without excessive dilution of the Company’s shares.”
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.