Century Mining Corporation
Wednesday, February 27th, 2008
Century Mining Corporation announce 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.”
For further information visit: www.centurymining.com