CENTURY MINING RESPONDS TO SULLIDEN PRESS RELEASE
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Company disappointed with Sulliden’s failure to make recommendation -
Blaine, WA: �January 16, 2008 - Century Mining
Corporation (CMM: TSX-V) today responded to the January 15 press
release issued by Sulliden Exploration Inc.
Century’s management reiterated its extreme disappointment
that Sulliden’s Board of Directors remains unable to make a
recommendation to its shareholders, despite having Century’s detailed
offer since early December of last year (for details about the takeover bid,
see November 28, 2007 Century press release).
Century also expressed concern that Sulliden’s hiring of an
investigative accountant near the end of Century’s takeover bid, which
expires on January 30, is another tactic to delay the normal process of such
offers.
Furthermore, Century noted that it promptly and completely
responded to all allegations raised by Sulliden in its complaints to the
Ontario Securities Commission (OSC) and the Authorit� des March�s Financiers of
Quebec (AMF).� The complaints made by Sulliden are without merit, and Century
is confident that it will be completely vindicated.
Margaret M. Kent, President and C.E.O. of Century Mining commented, “We
were once again surprised and disappointed by Sulliden’s refusal to give
our offer due consideration and provide their shareholders with a timely
recommendation.� We maintain that Century has provided all relevant information
about the offer to Sulliden, and has complied with all applicable securities
laws prior to and since making the official bid in early December.”�
Note: Details of Century’s takeover bid
for Sulliden may be viewed on the SEDAR website at www.sedar.com
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
wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the
Company accounts for 100% of gold production.� Century subsidiaries have 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.
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.