Century Mining Corporation
TSX VENTURE : CMM

Century Mining Corporation

March 29, 2006 15:27 ET

Century Buys Back Sigma-Lamaque Royalty

BLAINE, WASHINGTON--(CCNMatthews - March 29, 2006) - Century Mining Corporation (TSX VENTURE:CMM) is pleased to announce that the Company has reached an agreement with SGF Mines Inc. ("SGF") to buy back the SGF royalty on gold production from the Sigma-Lamaque Complex.

The Company will pay SGF C$2.0 million in cash and issue 3.0 million common shares of Century to SGF at a deemed price of C$1.50 per share. These payments will be in complete settlement of past royalties due and owing to SGF and all future obligations to SGF. The transaction is expected to close by April 21, 2006 and is subject to regulatory approval and completion of documentation. The common shares to be issued will be subject to a 4-month hold period.

Margaret Kent, President and C.E.O. said: "SGF has been very supportive of Century and of the Sigma-Lamaque project. We are pleased that SGF is a shareholder of Century and look forward to a continuing relationship as we grow the Company. Removal of the royalty liability will contribute to improving the financial condition of the Company in the future."

Margaret M. Kent, Chairman, President & C.E.O.

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.

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