Century Mining Corporation

Century Mining Corporation

September 09, 2011 16:07 ET

Century Announces Deutsche Bank Consent to Plan of Arrangement with White Tiger Gold Ltd. and Further Amendment to Forward Gold Purchase Agreement

VAL D'OR, QUEBEC--(Marketwire - Sept. 9, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that Deutsche Bank AG, London Branch has delivered its consent to the proposed plan of arrangement between the Company and White Tiger Gold Ltd. ("White Tiger") as required by the Amended and Restated Arrangement Agreement between Century and White Tiger.

The Company further announces that the amended and restated forward gold purchase agreement with Deutsche Bank AG, London Branch ("DB") which became effective as of August 14, 2011 has been further amended effective as of September 9, 2011 (the "Second Amended and Restated Forward Agreement"). The effect of the Second Amended and Restated Forward Agreement is to extend flexibility for Century through October 31, 2011 with respect to the sale of gold and the utilization of funds from the Performance Reserve Account for the payment of certain obligations of the Company, including the previously announced loan amount in favour of DB of $3.25 million, with a provision that the Performance Reserve Account be restored through equity raises to be conducted by the Company.

About Century Mining Corporation

Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.

On behalf of Century Mining Corporation,

Daniel J. Major, President & CEO

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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