Central Sun Mining Inc.

Central Sun Mining Inc.

May 14, 2008 16:00 ET

Central Sun Appoints New Senior Management Positions

TORONTO, ONTARIO--(Marketwire - May 14, 2008) - Central Sun Mining Inc. (TSX:CSM)(TSX:CSM.WT)(AMEX:SMC) is pleased to announce the addition of three new senior individuals to the Company's management team. With these latest appointments, Central Sun has strengthened the Company's operational support team and added additional depth and experience to its operations in the Americas.

Dale Craig, P.Eng. Appointed General Manager, Orosi Mine

Mr. Craig is a graduate of Michigan Technological University (B.Eng.), University of Toronto (B.Sc.), and Haileybury School of Mines, and is a Registered Professional Engineer.

Mr. Craig has 10 years of extensive engineering and operating experience in open pit gold mining, and over 20 years in the mining industry. Mr. Craig has been associated with gold mines in North America, South America and Asia, including two successful mine/construction and startup projects. He has worked in climates ranging from rainforest to arctic, and locations varying from tidewater lowlands to high Andes.

Most recently, Mr. Craig was Mine Superintendent for Lagunas Norte Mine, a Barrick Gold operation located in North Central Peru and Barrick's lowest-cost gold mine, with annual production of over one million ounces per year. Mr. Craig has been with Barrick since September of 2004, when he joined to participate in the construction and operation of Lagunas Norte Mine.

Jennifer Wagner, LL.B. Appointed Corporate Secretary and General Counsel

Ms. Wagner is a corporate-securities lawyer, having previously practiced with a major Canadian law firm in Toronto. She brings a developed expertise in the area of securities law, with a particular emphasis on the mining sector. Ms. Wagner was called to the bar in Ontario and received her Bachelor of Laws from the University of Windsor.

Jaime Ticona C.A., Appointed V.P. Finance, Central America

Mr. Ticona brings 21 years of experience in the mining industry to his new role as the Vice President of Finance, Central America. He has worked in several Latin American countries including Chile, Bolivia, Peru, Honduras and Nicaragua; in various capacities including Accounting, Cost Control, Project Cost Control, Controller, Financing, and Treasurer. Mr. Ticona has worked for several international companies including, since 2006, Yamana Gold Inc.

"It is with great pleasure that I welcome this team of professionals to Central Sun," said Peter Tagliamonte, President and Chief Executive Officer. "Mr. Craig is an accomplished and highly regarded mining engineer who brings extensive experience to his new position as General Manager of the Orosi Mine. Both Ms. Wagner and Mr. Ticona will contribute greatly to Central Sun with the legal and financial expertise they bring to our team. We look forward to their contributions to building an even stronger Central Sun team."

About Central Sun Mining

The Company is a growing gold producer with mining and exploration activities focused in Nicaragua. The Company operates the Limon Mine in Nicaragua and is converting the Orosi Mine in Nicaragua to conventional milling to increase the annual gold output. It also holds an option to acquire a 100% interest in the Mestiza gold property which is located 70 kilometres east of the Limon Mine. The Company is focused on efficient and productive mining practices to establish high quality and cost effective operations. Central Sun Mining is committed to growth by optimizing current operations, expanding mineral reserves and resources at existing mines, exploring its extensive land holdings and seeking strategic mergers or acquisitions in the Americas.

Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the completion of the Company's new strategic plan, the future financial or operating performance of the Company, its subsidiaries and its projects, the future price of gold, estimated recoveries under the milling plan, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital for the mill project, operating and exploration expenditures, costs and timing of the development of new deposits, outcome, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters.
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability, insurrection or war; delays in obtaining governmental approvals or required financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "General Development of the Business - Risks of the Business" in the Company's annual information form for the year ended December 31, 2007 on file with the securities regulatory authorities in Canada and the Company's Form 40-F on file with the Securities and Exchange Commission in Washington, D.C. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities law.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources

The information presented uses the terms "measured", "indicated" and "inferred" mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Contact Information

  • Central Sun Mining Inc.
    Andre Bharti
    Investor Relations
    (416) 860-0919
    (416) 367-0182 (FAX)
    Email: ir@centralsun.ca