Century Mining Corporation

Century Mining Corporation

May 23, 2006 09:30 ET

Century Mining Provides San Juan Update and Highlights from Annual General Meeting

BLAINE, WASHINGTON--(CCNMatthews - May 23, 2006) - Century Mining Corporation (TSX VENTURE:CMM) today announced that pursuant to taking control of the San Juan gold mine in Peru, the Company now has a team of two mining engineers, two metallurgists, two geologists and two human resource professionals at the mine. The team is developing detailed plans to return the mine and 700 tonnes per day mill to their rated capacity from current operating levels.

The Company is also establishing a team of exploration geologists in Peru to select targets for a major exploration program on several properties this year.

Highlights from Century Mining's Annual General Meeting

At the Company's annual general meeting in Toronto on Friday, Margaret Kent, Century Mining's President and CEO, presented details of the Company's plans to restore the San Juan Mine to former production levels and described the Company's exploration plans on its promising Peruvian exploration properties. The Company is also evaluating other possible Peruvian mining assets and exploration properties.

Kent also described the positive improvements made at the Sigma open pit mine during the last three quarters, as well as the Company's plans to commence production at the Lamaque underground mine this year. Additional production improvements from the Sigma pit are expected when four 100-tonne haul trucks are delivered in June and July. These new vehicles will substantially increase the availability and productivity of the mining fleet, allowing for greater removal of waste ahead of mining new ore faces.

"We are confident that we've turned the corner," said Kent. "We've strengthened and restructured our balance sheet. We continue to make improvements at the Sigma Mine. We've acquired the San Juan Mine and have an eye on other Peruvian investments, all of which puts us in a strong position going forward."

A copy of Kent's presentation, which also includes a summary of first quarter results, is now available on the Company's website.

Investor Conference Call

The Company will hold a conference call on Wednesday, May 31 to discuss the recent positive developments following the return of Kent and members of the management team from Peru. Time and dial-in information will be provided later this week via the Company's website.

Margaret M. Kent, Chairman, President & CEO

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and as amended in Section 27E of the 1934 Act.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

Contact Information