Century Mining Corporation
TSX VENTURE : CMM

Century Mining Corporation

October 29, 2007 10:21 ET

Century Mining Reports Expectations Have Been Met With San Juan Drilling

BLAINE, WASHINGTON--(Marketwire - Oct. 29, 2007) - Century Mining Corporation (TSX VENTURE:CMM) is pleased to report that the drilling program is complete at the San Juan Mine and that expectations have been met.

In December 2006 the Company began an aggressive program to define the resources at San Juan. The San Juan Gold Mine has produced 565,000 ounces of gold since 1970, predominantly from the Mercedes, San Juan and Alcapay veins.

The objective of the drill program was to extend the Mercedes and San Juan veins to the northwest by surface drilling and show that the Mercedes vein extended southeast across the dry Chorunga river bed to become the Alcapay vein.

The surface program was chosen for resource definition as there was no existing ability to provide, in a timely fashion, cross-cuts for underground drill stations.

A total of 11,820 meters of drilling in 51 holes were drilled and the drill results are tabulated in Table 1 appended to this press release. A map showing both the location of all drill holes plus a table of the drill hole coordinate information are provided on Century's Website www.centurymining.com.

The drilling to trace the Mercedes vein south-east across the Chorunga Quebrada to the Alcapay vein on the opposite river bank encountered faulting which displaced the vein in a manner that was not resolved by the drill program. An intersection in 06SJ-2 of 1.8 m of 46.7g/t Au and 26.3 g/t Ag (previously released) in the Mercedes vein was obtained at the edge of the dry riverbed at a depth of approximately 125m below the lowest mine level. On the Alcapay side of the dry river bed an intersection of 0.46m of 36.7g/t Au and 15.9g/t Ag was obtained in drill hole 7 while hole 49 returned an intercept of 23.5 g/t Au plus 18.5 g/t Ag over 30cm. Additional close spaced drilling will be required to trace this high grade vein across the dry river bed and to determine the extent and direction of the fault.

The north-west extension of both the San Juan and the Mercedes veins were tested from the plateau above the mine called the Pampas Area. During construction of a road in this area, a new showing, Veta Glenny was exposed, and the road now provides access for further prospecting in an area that appears to have excellent potential. Drill holes 39, 40, and 41 in the Glenny area returned gold grades of 10.2g/t over 43 cm., 11.1g/.t over 35 cm. and 9.96g/t over 45 cm.

The ruggedness of the terrain will not allow the vein intercepts to be traced back to the mine without extensive road building to mobilize the drill to these areas. The vein system appears to be faulted to the west in the area of drill holes 44, 45 and 46. Although encouraging intersections were encountered in drilling, it was not clear if the intersections were extensions of the Mercedes vein or the Rosario vein as the mined areas are 3 km. and 1 km. southeast of the intersections respectively. Hole 45 intersected 18.6g/t Au and 9.2 g/t Ag over 15 cm. and the high grade silver content appears to be consistent with the Mercedes vein. If these intersections are extensions of the Mercedes and Rosario veins, the potential resource additions could be major.

Drill holes designed to test the northwest extension of the San Juan vein demonstrated that the veins continued to the northwest however the vein widths and grades returned mixed results. The Matilde, an offshoot of the San Juan vein, returned good grades and widths, 80 cm. at 7.9g/t Au and 6.5g/t Ag. The San Juan vein appears to horsetail as it intersects with the Diagonal veins which trend west-southwest. The Diagonal veins returned some good grades, however the widths were narrow.

Mineable widths and grades of gold were intersected by the drill program. The average vein width mined at San Juan is approximately 40 centimeters with a mining width of about 1 meter. The current cutoff grade at the present gold price of over $US 700 is 3g/t Au. The drilling program demonstrated that gold bearing veins of mineable width and grade continue to the northwest of current mining areas and to depth along the river bank where the surface drill had access. With further work, the Company may be able to add significant ounces to its resource base.

The drill core was handled in a secure fashion under the control of Century's geological personnel under the supervision of professional geologists Chris Cherrywell or Larry Hillesland then delivered to ALS-Chemex for assay. The results were produced by ALS-Chemex. The results herein described have been prepared under the guidance of Mr. Ross Burns, P. Geo., LG, Vice President of Exploration, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.

Data compilation and validation of the extensive underground database of channel samples is underway. More than 50 percent of the work is complete. The San Juan Mine includes an extensive database of channel samples collected every 2 meters across the veins. There are underground workings on more than 32 veins in the district. These results are posted on plan maps and long-sections for use by the mine over the past 40 years. There are more than 300 maps and sections with usable data for modeling and resource development. In addition, these data represent a database of more than 100,000 samples. At the San Juan Mine, geological staff are working continuously converting these data to a digital format. These data will be entered in an appropriate mining software program for modeling, exploration and target development. In addition, duplicate samples have been collected for validation for a small percentage of the data. These underground samples when verified will also be used in the development of an NI 43-101 compliant resource and reserve estimate.

Completion of the NI 43-101 resource and reserve report for San Juan will likely be completed by the end of December 2007.

Margaret Kent, President and CEO, said, "The process of producing a 43-101 compliant reserve and resource report for the San Juan property has been far more extensive than the Company originally envisioned. Although drilling from surface proved difficult in some cases, it was deemed impractical and cost prohibitive to put in sufficient underground cross cuts to verify the historical resource. Over the past year, we have entered thousands of data points into a computerized model to verify underground mine data that dates back several decades. This process is similar to the computer model currently underway for the Lamaque underground, and will facilitate more efficient and productive mining operations. Once complete, underground models for both Lamaque and San Juan will provide significant upside potential for Century by making it easier for engineers to determine exploration targets and predict new ore zones. We currently anticipate completing a 43-101 compliant reserve report for the San Juan mine by December of this year."



Table 1

Drill From To Intersection Gold Silver Location
Hole meters meters cm. g/t g/t

06SJ-01 46.75 47.10 35 10.85 2.10 NW Mercedes ug

06SJ-02 210.32 210.77 45 71.80 82.50 Mercedes/Valley
06SJ-02 210.77 211.27 50 35.00 6.30
06SJ-02 211.27 211.65 38 8.04 0.80
06SJ-02 211.65 212.20 55 62.00 6.10

06SJ-03 100.70 100.95 25 4.36 2.40 Mercedes/Valley
06SJ-03 103.60 103.85 25 7.76 1.20

06SJ-05 115.35 115.45 10 14.45 6.30 Rosario
06SJ-05 115.45 115.60 15 1.87 2.20

greater
than
07SJ-06 219.10 219.15 5 100 26.90 Mercedes/Valley
07SJ-06 222.54 222.69 15 85.20 6.10

07SJ-07 173.00 173.10 10 77.10 24.50 Alcapay/Apillao
07SJ-07 315.00 315.10 10 10.25 6.80
07SJ-07 315.10 315.40 30 0.02 5.00
07SJ-07 315.85 315.90 5 1.18 0.40
07SJ-07 316.45 316.55 10 4.65 1.90
07SJ-07 316.55 316.70 15 0.45 0.80
07SJ-07 316.70 316.90 20 36.50 15.90
07SJ-07 448.05 448.25 20 14.20

07SJ-08 73.85 73.95 10 7.55 3.20 Alcapay/Valley
07SJ-08 117.35 117.45 10 7.54 1.30
07SJ-08 120.67 120.78 11 12.60 2.20

07SJ-12 90.70 91.10 40 22.50 0.70 Alcapay/Valley
07SJ-12 127.90 127.97 7 14.95 3.20
07SJ-12 131.44 131.62 18 10.85 0.50
07SJ-12 176.03 176.36 33 67.20 14.40
07SJ-12 211.08 211.23 15 4.65 0.50

07SJ-13 59.90 60.10 20 8.35 1.90 Alcapay/Valley

greater greater
than than
07SJ-14 54.65 54.81 16 100 100 Alcapay/Valley
07SJ-14 54.81 55.11 30 2.90 1.70
07SJ-14 156.40 156.90 50 7.43 3.40 Apillao/valley
07SJ-14 219.70 220.25 55 7.15 0.70

07SJ-16 134.70 134.84 14 9.30 15.00 Diagonal E& D

07-SJ18 91.20 91.35 15 49.00 17.60 Diagonal E& D
07-SJ18 114.05 114.34 29 4.88 2.20

07SJ-19 49.25 49.70 45 2.10 4.10 Diagonal E& D
07SJ-19 200.10 200.30 20 4.50 0.80

07SJ-21 138.25 138.35 10 1.46 3.90 Diagonal E area
07SJ-21 138.35 138.75 40 3.23 2.90

less
than
07SJ-22 35.50 36.20 70 1.81 0.2
07SJ-22 36.20 36.30 10 1.79 0.20
07SJ-22 105.05 105.20 15 1.61 0.30 Diagonal E area
less
than
07SJ-22 105.20 105.60 40 2.53 0.2
07SJ-22 105.80 106.15 35 1.80 0.30
07SJ-22 113.05 113.35 30 5.38 4.30

07SJ-24 82.05 82.25 20 65.50 10.50 Diagonal E

07SJ-26 140.75 141.30 55 15.15 0.60
07SJ-26 158.35 158.55 20 69.80 13.20 San Juan C/B

07SJ-27 85.40 85.85 45 4.54 0.50 San Juan C/B
07SJ-27 179.95 180.10 15 3.40 1.10

07SJ-29 71.25 71.55 30 4.73 3.40 San Juan C
07SJ-29 138.95 138.98 3 25.70 3.70

07SJ-30 85.65 85.74 9 11.10 26.20 San Juan C
less
than
07SJ-30 172.50 172.60 10 5.68 0.2

07SJ-31 19.40 20.10 70 3.13 0.90
07SJ-31 20.10 20.65 55 1.09 1.00 Diagonal veins
07SJ-31 37.85 38.00 15 9.04 19.00
less
than
07SJ-31 38.00 38.28 28 1.19 0.2

07SJ-32 19.55 19.90 35 5.57 0.70 Diagonal veins
07SJ-32 21.35 21.65 30 1.95 0.40
07SJ-32 66.91 66.99 8 21.50 5.30

Matilda /
07SJ-34 18.25 18.55 30 7.44 0.40 San Juan

Matilda /
07SJ-36 43.40 44.20 80 7.91 6.50 San Juan
07SJ-36 68.80 68.85 5 8.27 22.10
07SJ-36 68.85 69.70 85 2.31 0.50

07SJ-37 136.45 136.65 20 4.23 1.10 San Juan C
07SJ-37 144.10 144.20 10 3.24 2.00 San Juan B

07SJ-38 168.70 168.79 9 48.10 10.20

07SJ-39 108.80 109.80 100 2.91 2.60
07SJ-39 109.20 109.40 20 4.73 3.90
Glenny
07SJ-39 111.98 112.18 20 1.97 1.20 Vein Area
07SJ-39 184.50 184.80 30 3.07 0.80
07SJ-39 239.20 239.63 43 10.15 0.80

Glenny
07SJ-40 150.00 150.35 35 11.10 2.20 Vein Area

Glenny
07SJ-41 129.90 130.35 45 9.96 6.10 Vein Area

Mercedes/
07SJ-44 169.95 170.35 40 2.57 0.5 San Juan
07SJ-44 174.1 174.2 10 8.78 2
07SJ-44 174.2 174.4 20 1.05 0.3

Mercedes
07SJ-45 166.8 166.95 15 18.6 9.2 Extension?
07SJ-45 288 288.13 13 8 2.5

Rosario
07SJ-46 0 0.74 1.8 or faulted
less
than
07SJ-46 193.25 194.25 100 2.21 0.2 Mercedes

07SJ-47 6 6.5 50 2.35 0.2
07SJ-47 10 10.6 60 0.76 0.6
07SJ-47 11.05 11.4 35 1.04 1.1 San Juan NW
07SJ-47 12.5 12.94 44 1.12 3.2
07SJ-47 47.2 48.1 90 1.85 24.8
07SJ-47 48.5 48.75 25 5.56 2.8
07SJ-47 108.65 108.9 25 2.39 2.2

07SJ-49 127.35 127.58 23 1.44 0.4
07SJ-49 127.58 127.88 30 23.5 18.5 Valley
07SJ-49 128.8 128.85 5 35.9 4.1

07SJ-51 170.3 170.65 35 5.46 0.3 Valley


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 Sigma and Lamaque mines in Quebec that historically have 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.

Margaret M. Kent, Chairman, President & CEO

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.

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

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