Century Mining Corporation

Century Mining Corporation

September 27, 2011 07:00 ET

Century Announces Repayment of Deutsche Bank Convertible Short-Term Loan

VAL D'OR, QUÉBEC--(Marketwire - Sept. 27, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that it has repaid the US$3.25 million short-term loan extended by Deutsche Bank AG, London Branch ("DB") to the Company earlier this year, inclusive of principal and interest. This loan was convertible into Century common shares at the option of DB if it had not been repaid by the Company. The funds used for the repayment were obtained from a drawdown of the Performance Reserve Account, as permitted by the Second Amended and Restated Forward Gold Purchase Agreement signed by Century and DB effective September 9, 2011.

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.

Contact Information

  • Century Mining Corporation
    Richard B. Meschke
    (360) 332-4653 or Toll Free: (877) 284-6535
    (360) 332-4652 (FAX)

    Terre Partners
    Joanna Longo
    (416) 238-1414 (ext 233)