Century Mining Corporation

Century Mining Corporation

January 18, 2010 16:39 ET

Century Mining Grants Stock Options

BLAINE, WASHINGTON--(Marketwire – Jan. 18, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that it has granted a total of 300,000 stock options to the newly appointed directors and advisor of the Company. The stock options are exercisable into common shares of Century at an exercise price of C$0.36 per share for a period of five years. Century's common shares closed at C$0.36 on the TSX Venture Exchange on January 14, 2010.

Century Mining has 337,487,463 common shares issued and outstanding. Under the terms of the Company's "rolling" Incentive Stock Option Plan, a maximum of 33,748,746 shares are available to be issued pursuant to the exercise of options at this time. Including this grant of 300,000 options, a total of 9,240,000 shares have been reserved for issuance pursuant to outstanding option grants. A further 24,508,746 shares are available for issuance pursuant to future option grants at this time.

About Century Mining Corporation

Century Mining Corporation is a Canadian-based gold producer with expanding gold production, late stage development and exploration properties, and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to build through organic growth via existing mine expansions, the advancement of its exploration and development properties, and by pursuing other strategic and synergistic gold opportunities.

On behalf of Century Mining Corporation,

"Margaret M. Kent"

 President & CEO

Caution Concerning Forward-Looking Information

This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are 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 statements and information involve 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 information and accordingly, readers should not place undue reliance on such statements and information. 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 commodity 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 included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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